Housing 2020 Recap: Demographics Popped the Housing Bubble Boys

What a crazy year we have all been through. Last year, I visited Japan, London, Puerto Rico, Oregon and Las Vegas twice. This year I had fewer visits than that to my local barber and I was ecstatic to be there. This was the year we relearned to appreciate small things. Adventure and excitement were […]

FHFA Extends GSEs’ Affordable Housing Goals Through 2021

The Federal Housing Finance Agency (FHFA) announced on Wednesday that its single-family and multifamily affordable housing goals for Fannie Mae and Freddie Mac will remain unchanged from those set in 2018-2020. However, unlike previous goals set for a three-year period, the FHFA announced the benchmarks for 2021 only, citing economic uncertainty from the COVID-19 pandemic. The affordable housing goals for single-family are: […]

U.S. Home Prices Hit 14-Year High in October

The S&P CoreLogic Case-Shiller index covering home prices of all nine U.S. census divisions, reported an 8.4% increase in October from a year ago. The National Index is now up 24.5% from its former high in July 2006. Home prices have continued to increase this year as a result of low inventory and high demand for homes. Phoenix, Seattle and San Diego reported the […]

Mortgage Demand from Homebuyers spikes 28% and the Average Loan Amount Sets a Record High

 Thanksgiving week isn’t usually a popular time for homebuying, but most economic numbers this year are incomparable, especially in the pandemic-spiked housing market.  Mortgage applications to purchase a home jumped 9% last week from the previous week, according to the Mortgage Bankers Association’s seasonally and holiday adjusted index. Purchase applications were a stunning 28% higher […]

Record Low Mortgage Rates Hold Steady at 2.72%

The average U.S. mortgage rate for a 30-year fixed loan remained unchanged at 2.72% this week, Freddie Mac said in a report on Thursday – the second week in a row rates have sat at the lowest recorded level in the survey’s near 50-year history. The average fixed rate for a 15-year mortgage also remained unchanged from last week at 2.28%. […]

Mortgage Rates Break Record Again, Down to 2.72%

The average U.S. mortgage rate for a 30-year fixed loan fell this week to 2.72%, Freddie Mac said in a report on Thursday – the lowest rate in the survey’s near 50-year history. This week’s rate broke the previous record set on Nov. 5 by 6 basis points. The average fixed rate for a 15-year mortgage also fell by 6 basis points to […]

Southeastern Housing Markets Have Home “Singing Out the Door”

Vacation areas and luxury housing markets aren’t the only ones benefitting from a wave of pandemic buyers: southeastern locales are also filling up. Metro areas with the biggest increases in net inflow in the third quarter included Little Rock, Arkansas; Louisville, Kentucky; and Knoxville, Tennessee, according to Redfin. Homes are “singing out the door about as fast as they […]

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