Homebuilders growing very concerned about affordability
Still, builder confidence increased for second month in a row Homebuilder confidence continued to rise in October despite increasing affordability issues due to rising material prices and ongoing shortages, according to the latest National Association of Home Builders (NAHB) and Wells Fargo Housi...
There’s no sign of the typical fall slowdown in home buying
Redfin reports that 33% of homes go under contract within a week One-third of homes that went under contract had an accepted offer within one week of hitting the market, a new report from Redfin found. This is up from 30% during the same period a year prior and 2.2 points from a month earlier. T...
FHFA to make desktop appraisals permanent
FHFA Acting Director Sandra Thompson also announced expansions to the eligibility requirements for refinance programs geared toward low-income borrowers Desktop appraisals, a temporary flexibility implemented in March 2020 to keep the mortgage industry afloat amid lockdowns and social distancing, wi...
Goldman Sachs: Home prices will rise another 16% in ’22
Investment bank doesn’t foresee big boost in inventory anytime soon Home prices are currently up 20% year-over-year, but according to a new Goldman Sachs market forecast, they may not have reached their peak yet. Not even close. Goldman Sachs economists predict that home prices will grow ano...
Homebuyers brush off higher mortgage rates
Rates reached 3.18% during the week that ended Oct. 8 Mortgage application activity was largely flat for the week ending Oct. 8, despite mortgage rates reaching their highest level since June. That’s according to the latest mortgage application survey from the Mortgage Bankers Association, which...