Real Estate News

MND NewsWire

• Purchase Applications Increase as Rates Hit 10-Week Low
  Despite the three-day week observed by most businesses last week, purchase mortgage applications more than held their own. The Mortgage Bankers Association (MBA) said its seasonally adjusted Purchase Index gained 5 percent for the week although it lost 31 percent on an unadjusted basis. It was 19 percent lower than the same week in 2022, […]
• $766,550 is The New Conforming Loan Limit For 2024
  If you're just here for the conforming loan limit news, $766,550 is the number for 2024.   Does this mean no one can get a mortgage for more than $766,550?  No.  The conforming loan limit is the maximum amount that can be guaranteed by Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs).  That guarantee […]
• Home Prices Still Rising More Than Expected. Loan Limits to Follow
  Today brings the release of the two main home price indices (HPIs) for the month of September (yeah, there's a bit of a lag).   The S&P Case Shiller HPI rose to prominence in the run up to the financial crisis (back then it was just Case Shiller), and has been a mainstay of home price […]
• New Home Sales Below Trend But Still Outperforming Existing Homes
  The Census Bureau released the monthly New Home Sales report today, showing a decrease from 719k in September (revised down from 759k initially reported) to 679k in October.  While this number is below the long term trend that emerged after the Great Financial Crisis, it's still in league with the pre-covid highs. The post-covid story […]
• Lower Rates Beckon Some Borrowers Back
  An improved (albeit slightly) mortgage interest rate environment helped push the volume of mortgage applications higher during the week ending November 17. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, grew 3.0 percent on a seasonally adjusted basis from one week earlier. However, it declined fractionally on an […]
• Existing Home Sales Fade Further
  Existing home sales achieved their lowest annual level in ten years in September, and now appear to have doubled down. The National Association of Realtors® (NAR) said sales of pre-owned single-family homes, townhouses, condominiums, and cooperative apartments fell another 4.1 percent in October to an annual rate of 3.79 million homes. This is 14.6 percent […]
• October Housing Stats Show Slight Gains
  Both of the key metrics for residential construction, housing permits, and housing starts, beat analysts’ expectations in October. The U.S. Census Bureau and Department of Housing and Urban Development said permits rose 1.1 percent compared to September while housing starts increased by 1.5 percent. Permits were issued at a seasonally adjusted annual rate of 1.487 […]
• Builder Confidence Lowest in Nearly a Year, But Lower Rates Could Change Things
  The National Association of Homebuilders and Wells Fargo releases the results of a survey of NAHB members each month regarding the health of the homebuilding sector.  While officially referred to as the Housing Market Index (or HMI), the headline number is essentially "builder confidence." After rising steadily from the end of 2022 through July, confidence […]
• Mortgage Application Volume Reaches Five-Week High
  Even though mortgage interest rates changed only slightly, the volume of mortgage applications moved higher for the second time in as many weeks. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 2.8 percent on a seasonally adjusted basis from one week earlier and was up 0.4 percent […]
• Mortgage Application Volume Responds to Rate Drop
  A quarter-point decline in 30-year fixed-rate mortgage (FRM) interest pushed mortgage application activity higher across the board during the week ended November 3. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage application volume, increased 2.5 percent on a seasonally adjusted basis from one week earlier, the largest increase since […]