All Posts Tagged: mortgage rates

U.S. Outlook: What’s the current health of the housing market?

Scott Anderson
Chief Economist

Both new and existing home sales dropped sharply in April. So we thought now would be a good time to look at the health of the U.S. housing market, given the 66 basis point rise in 30-Yr mortgage interest rates since the beginning of the year.couple in foreground with toddler on man's shoulders as they look up a small incline to a big white house.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on May 25.

Key observations:
  • Existing home sales declined 2.5% to a seasonally adjusted annual rate of 5.46 million in April.
  • Total existing home inventory at the end of April was 1.80 million units, a 6.3% drop from a year ago. Existing home inventories have fallen year-over-year for 35 consecutive months.
  • Low inventory also is having a big impact on home prices and affordability. The median existing home price increased 5.3% year-over-year in April to $257,900, an increase in the median home price of 60% since July 2011.
  • We forecast a modest 0.7% increase in existing home sales in 2018, down from a 1.8% increase in 2017.

Read my full report.

Read More ›

How you can find the best interest rate

Victor Polich
Mortgage Banking
Side view of young woman preparing to look on her open laptop

Accurately comparing rates from lenders is going to depend on the information you provide.

Read More ›

Numbers Count: Rate decreases spark refi opportunity?

Chad Royle
Posted by Chad Royle
Mortgage Banking
African American man looking out the window of a house, seemingly in thought (perhaps about whether to refi).

Here’s my take on the key numbers on the housing market this week.

Read More ›

U.S. Outlook: Keep one eye on the fundamentals

Scott Anderson
Chief Economist
Graph showing rises and falls - especially recently - in U.S. gas prices.

It’s important to remember that the stock market and the oil market are not the U.S. economy.

Read More ›

U.S. Outlook: Replacing liftoff with gradual levitation

Scott Anderson
Chief Economist
Graph laying out the interest rate forecasts into next year.

While I still believe the FOMC will raise interest rates for the first time in December 2015, I expect long pauses before each successive move upward.

Read More ›