Hispanic Homeownership Rate Rose To 48.6% In 2022
Latinos added a net total of 349,000 homeowner households last year, per the National Association of Hispanic Real Estate Professionals. KEY TAKEAWAYS - Today, the NAHREP says there are 9.2 million Hispanic homeowner households. - Latinos trend younger as homeowners,...
Single-Family Permits Up Over 7% From January
Publishing data covering the month of February 2023, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development has released their joint report on new residential construction permits, starts, and completions. According to the report,...
Mortgage rates drop to the 5% range for the first time since September
The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily. The housing market hasn’t seen the rate with a five handle since a brief blip in early September. Before that, it was in early August. The rate started this week...
3 Reasons to Buy a House in 2023
Making the choice to buy a home is a big decision. You want to ensure you're doing it at the right time. But, how do you know when that is? Here are three big reasons why you might want to move forward this year with the purchase of a property of your own. 1. Home...
Relief for homebuyers in 2023: Mortgage rates at lowest levels since September
A dip in mortgage interest rates is spurring demand from homebuyers, according to a new report from the Mortgage Bankers Association. Mortgage applications last week jumped 28% from the week prior, according to seasonally adjusted data. The bankers association's...
Homebuilder sentiment rises in January for the first time in a year, thanks to lower mortgage rates
Builder sentiment in the single-family housing market posted an unexpected gain in January, rising for the first time in 12 straight months. Economists had predicted a slight decline. Sentiment rose 4 points to 35 on the National Association of Home Builders/Wells...
Mortgage Demand Soars 28% as Rates Dip Slightly
The numbers: A dip in mortgage rates prompted mortgage demand to rise a seasonally adjusted 27.9% As mortgage rates dropped across the board, demand for both purchases and refinancing increased. That pushed the market composite index up, a measure of mortgage...
The free-fall in housing market activity just concluded, says Capital Economics
Not only did spiking mortgage rates prompt the Pandemic Housing Boom to fizzle out in the summer of 2022, they also pushed housing market transactions into free-fall mode. By December, mortgage purchase applications were down over 40% on a year-over-year basis. But...
Home Price Index Up 60% Annually
The latest iteration of the First American Financial Corporation's Real House Price Index (RHPI) covering September 2022 was recently released which as a whole found real home prices increased 10.5% over August 2022. The RHPI aims to measure the price changes of...
Analyst: ‘Demand for housing is still very strong’
Even though monthly mortgage payments reached a record high in October, there are still many eager homebuyers, according to one analyst, who cited the unexpected rise in new single-family home sales in October. "I think what it tells us is that the underlying demand...