As inflation and economic challenges continue to put pressure on the housing construction industry, rising construction costs may point to continued affordability challenges for homebuyers, according to the latest data. The Producer Price Index (PPI) from the Bureau of Labor Statistics released last week found that construction costs for single-family homes were up by 3.2%…
After a brief dip into the fives, mortgage rates ticked back up this week and will likely continue to rise if the conflict with Iran escalates into a prolonged war, economists cautioned this week. “The launch of the conflict in Iran over the weekend and its subsequent escalation has stoked fears of wartime inflation that…
Housing construction has faced a plethora of challenges in recent years, as the country falls further behind in the number of homes needed to meet demand. The latest data from Realtor.com® has found these challenges once again widened the “housing supply gap,” with the future looking uncertain without “meaningful” policy changes. Realtor.com’s 2026 Housing Supply…
Just in time for the spring buying season, average mortgage rates crossed “into the fives,” this past week, their lowest level in years, and one economists describe as a “psychological barrier and numeric threshold” that could bring more buyers into the market despite concerns over the economy. The latest Primary Mortgage Market Survey® (PMMS®), released…
Home loan application activity increased this past week, up slightly from the previous week and following the trend of steady average mortgage rates hovering around 6%, even dipping below for a few days this past week. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume…
New-home sales picked up sharply in November and December, according to the latest release from the U.S. Census Bureau, in a somewhat surprising—and welcome—indicator that housing demand remains persistent against macro uncertainty. New-home sales were up 12.3% year-over-year in November and jumped 3.8% in December during what is normally a slower time for transactions. Single-family…
As inventory challenges persist in some markets and have improved in others, economists generally point to a Spring market with increased buyers, provided average mortgage rates remain at their recent years-long lows. The latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday, shows the 30-year fixed-rate mortgage (FRM) averaging 6.01%, down from 6.09%…
Steady rates remaining in the low 6% range continue fueling refinance demand, rising the tide for a small increase this week in overall mortgage applications, as tracked by the Mortgage Bankers Association (MBA). According to the latest Market Composite Index—MBA’s measure of mortgage loan activity volume and includes purchases and refinances—increased 2.8% on a seasonally…
On the heels of a dismal January existing home sales report, mortgage rates holding steady around 6% for weeks brings brighter news in the form of increased confidence for some home shoppers who’ve been sitting on the sidelines, experts say, although affordability still remains a challenge. The latest Primary Mortgage Market Survey® (PMMS®), released by…
Slow inventory recovery, coupled with major snowstorms across half of the country, put a massive halt on existing-home sales in January, according to the latest data from the National Association of Realtors® (NAR). NAR’s Existing-Homes Sales report for January found that sales fell 8.4% to a rate of 3.91 million, a large reversal from last…
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