Market Trends

June 19, 2014

Housing Production Falls 6.5 Percent in May, Single-Family Permits Up

Declines in both single- and multifamily starts pushed nationwide housing production down 6.5 percent in May to a seasonally adjusted annual rate of just over 1 million units, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. However, single-family permits, …

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June 19, 2014

Fixed Mortgage Rates Increase

Average fixed mortgage rates increased last week, as revealed by Freddie Mac's recently released Primary Mortgage Market Survey®. According to experts, the surge may partly be in response to recent job growth and economic improvement.

The survey showed that 30-year fixed-rate mortgage (FRM) averaged 4.20 percent with an average …

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April 23, 2014

Fixed Mortgage Rates at Six Week Low

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates easing further for the second consecutive week helping to increase home buyer affordability at the onset of the spring home buying season.

The 30-year fixed-rate mortgage averaged 4.27 percent with an …

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April 17, 2014

National Growth in Housing Inventory Signals Healthier Market for Spring Homebuyers

Realtor.com® recently released its National Housing Trend Report for March 2014. The report shows year-over-year growth in inventory and days on market, which are welcome signs for spring homebuyers. Combined with modest price increases, this growth speaks to a healthier market currently than in the early home buying season in …

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April 16, 2014

Mortgage Applications Rise 4.3 Percent

Mortgage applications increased 4.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 11, 2014.

The Market Composite Index, a measure of mortgage loan application volume, increased 4.3 percent on a seasonally adjusted basis from …

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April 16, 2014

Housing Starts Rise 2.8 Percent in March

Led by a 6 percent rise in single-family starts, nationwide housing production rose 2.8 percent above an upwardly revised February rate of 920,000 to a seasonally adjusted annual rate of 946,000 units in March, according to newly released figures from HUD and the U.S. Census Bureau.

“We see improving …

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March 12, 2014

Fixed Mortgage Rates Reverse Course

In recent housing news, Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down following weaker than expected economic and housing news.

"Mortgage rates were down this week as real GDP was revised downwards to 2.4 percent growth in the …

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March 10, 2014

Eye on the Economy: New Home Sales Bounce Back in January

The housing market and the broader economy shivered at the end of 2013 as weather-related factors held consumers back and generated production delays. These impacts should prove temporary and our forecast remains positive for housing and home building for the year to come. Indeed, reports from January suggest some improvement …

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March 8, 2014

March Housing Madness: Leading Markets Index Shows 59 Metros at or above Normal

Markets in 59 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released recently.

This represents a net gain of one from the previous …

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Feb. 27, 2014

Housing Gains Predicted for the Year

More modest gains are likely this year, according to the most recent Kiplinger Letter forecast. The national average of appreciation in home values is up 4 percent-4.5 percent, compared with a gain over 11 percent in 2013.

The top stated reason for this increase is rising mortgage rates, will …

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