Housing Affairs Letter

Housing Market Notes

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A Summary of Industry Activities

Dropping mortgage rates coupled with a strengthening economy contribute to surging homebuilder confidence. Homebuilder confidence increased four points in February to 62 in the National Association of Home Builders/Wells Fargo Housing Market Index. A rating of 50 or

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A Summary of Industry Activities

Reacting to the increasing vulnerability of the economic expansion, mortgage interest rates continue their downward slide after soaring to seven-year highs less than three months ago. The latest rates were set before it became clear the federal government would not be shut

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A Summary of Industry Activities

Despite assurances from some economic quarters that the nation’s economy is doing well, recent developments, including the 35-day government shutdown and a slowing global economy, are slowly pushing down fixed-term mortgage rates as investors flee to the safety of

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A Summary of Industry Activities

Rent prices for single-family rental properties increased 2.9% year-over-year in November according to real estate analyst CoreLogic. The Irvine, CA-based firm says rent prices remain on a steady growth path even as home price growth has slowed. Rent prices increased 17%

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A Summary of Industry Activities

A calming stock market and trade anxiety easing keep mortgage interest rates steady despite the national qualms over the partial government shutdown and a deep plunge in home sales. A major factor in the unvarying rates is the absence of government generated economic data,

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A Summary of Industry Activities

Foreclosures were down 8% in 2018 compared to 2017 and were down 78% from a peak of nearly 2.9 million in 2010 to the lowest level since 2005 according to ATTOM Data Solution’s Year-End 2018 U.S. Foreclosure Market Report.

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A Summary of Industry Activities

Plunging mortgage interest rates have prospective homebuyers flocking to lenders to lock in more favorable interest rates. At the same time, homeowners surge to lenders seeking mortgage refinancing to lower their mortgage premiums through loan refinancing. The Mortgage

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A Summary of Industry Activities

Prospective homebuyers receive a New Year’s bonus in the lowest interest rate since September and many are expected to take advantage of the low to lock in a choice rate before the rate climb is expected to resume. Housing economists expect the rate to reach 5.25% by

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A Summary of Industry Activities

While the costs of building materials are on the rise, it’s the increasing cost of labor that is stymieing the availability of new housing. That is the finding by BuildZoom economist Issi Romem in his new analysis of the reason for stratifying construction costs across the country. In

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A Summary of Industry Activities

Mortgage interest rates drop to their lowest point in three months, but the drop isn’t translating into more homes sales. While the Mortgage Bankers Association reports mortgage applications are up (see separate story this issue), prospective homebuyers are likely trying to lock in a

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