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    • Black Knight Home Price Data at Odds With Recent FHFA Move
      Black Knight released its Mortgage Monitor report today--always a treasure trove of robust housing/mortgage-related data.  Of particular interest this time around is the ongoing price declines seen in Black Knight's Home Price Index (HPI)--especially as they relate to the recent FHFA HPI data that influenced new conforming loan limits. To be clear, today's HPI from […]
    • Pending Home Sales Decline for Fifth Month in a Row
      October saw contracts to purchase existing homes fall for the fifth straight month. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) lost another 4.6 percent during the month, declining from 79.5 in September to 77.1. This is 37.0 percent lower than its reading in October 2021 when it hit a […]
    • Purchase Activity Rose Again as Holiday Neared
      Thanksgiving had its usual effect on the mortgage market during the week ended November 25, although the third week of easing interest rates helped move the volume of purchase mortgage applications higher. The Mortgage Brokers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 0.8 percent on a seasonally adjusted basis […]
    • $726,200 is The New Loan Limit for 2023; High Cost Counties Now Over $1m
      If you're just here for the conforming loan limit news, $726,200 is the number for 2023.   Does this mean no one can get a mortgage for more than $726,200?  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 […]
    • Rates, Mortgage App Volume Improve Heading into Holiday Season
      Mortgage application volume increased for the second consecutive week as interest rates continued to decline. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, was 2.2 percent higher during the week ending November 18 than the prior week on a seasonally adjusted basis and up 10 percent before adjustment. […]
    • A Slightly Less Gloomy Way to View Another Big Drop in Existing Home Sales
      The state of the housing market in 2022 is well known by now.  The sharpest rate spike in 40 years to the highest rates in 20 years combined with the overvaluation from 2 years of brutally fast appreciation to create a rapid cooling in demand and, more recently, prices. Slightly less obvious to those outside […]
    • Multi-Unit Construction Staying Steady (For Now) While Single-Fam Slides
      There aren't many ways to make the Census Bureau's New Residential Construction report exciting, and there are zero ways to frame it in a positive light (unless you want the old "it can only go down for so long before it comes back up").  So let's just get through this and try to pluck out […]
    • Construction Costs, Buyer Traffic Continue to Sap Builder Confidence
      The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) fell another 5 points in November. NAHB said this measure of builder confidence in the new home market is now at 33 after 11 straight months of decline. The current reading is only 3 points higher than in April 2020 when the onset […]
    • Mortgage App Volume: Purchases at Highest Levels Since June
      Mortgage application volume increased on a seasonally adjusted basis during the week ended November 11 but declined sharply before adjustment. The Mortgage Bankers Association (MBA) further adjusted data from its Weekly Mortgage Applications Survey to account for the Veterans’ Day holiday. MBA said its Market Composite Index, a measure of mortgage loan application volume, gained […]
    • Mortgage Credit Availability Lowest Since March 2013
      The Mortgage Bankers Association (MBA) collects data on borrower eligibility (FICO, loan type, LTV, etc) and combines that with underwriting guidelines to determine whether mortgages are getting easier or harder to obtain.  The result is the Mortgage Credit Availability Index (MCAI), and it fell to its lowest level since March 2013 today. Is this big […]

Jim Fraser, Realtor®

License # 01383288

(415) 789 - 5239 Direct

(415) 254 - 0253 Cell

(866) 488 - 0775 Fax - Toll Free


Amy Leenhouts Harrill®

License # 01953544

(415)789-9906 Direct

(773) 425-8298 Cell