Category Archives: Home Sales

For Mortgage Rates, “High 3’s” In Sight Once Again.

Mortgage rates took the day to do just a little bit more of what they’ve been doing in fairly grand fashion for the past week: MOVE LOWER! When the good times started in earnest, rates were already in line with their lowest levels in more than a year. As of today, they’re another quarter or […]

Improved Rates Have Little Impact on Mortgage Volume

BY JANN SWANSON Mortgage rates pulled back slightly during the week ended November 16, but that did little to move mortgage applications higher. The Mortgage Bankers Association said its Market Composite Index, a measure of overall application volume, continued to trend down, dipping 0.1 percent on a seasonally adjusted basis compared to the week ended […]

New Home Sales Dip, Still Stronger than Last Year

BY JANN SWANSON The Mortgage Bankers Association (MBA) reports a drop in applications for the purchase of newly constructed homes last month. Those applications fell by 3.9 percent compared to August although they remained 8.2 percent higher than they were the previous September. The change does not reflect any seasonal adjustment. The information comes from […]

BY JANN SWANSON It appears that, while Americans are generally upbeat about the economy, housing, and their own financial fortunes, they have a little difficulty maintaining those sentiments. Fannie Mae said today that its Home Purchase Sentiment Index (HPSI) reversed direction again in September, falling 0.3 point to 87.7. The downturn did not erase the […]

Upfront Home Costs Add Up – Especially if Downpayment is Included

BY JANN SWANSON Two Zillow subsidiaries are estimating it will cost the average U.S. homebuyer $40,000 to get in the door of their new home. Depending on where the home is located, according to a new analysis from and Thumbtack, the number could be $26,641 (in Cleveland) or $202,834 (San Jose.) That headline number […]

First-Time Homebuyer Purchases Fall to All-Time Low

According to the National Association of Realtors® (NAR), first-time homebuyers accounted for only 27% of all home sales in December 2013—the lowest level since the NAR started tracking such statistics in 2008. Factors that may be contributing to diminishing numbers include high student loans, poor credit scores, low employment, and the rise in home prices […]

Existing Home Sales in December Hit Lowest Level in One Year

According to The National Association of Realtors® (NAR), existing home sales increased by 1.0% in December 2013 to a seasonally adjusted annual rate of 4.87 million, up from 4.82 million in November. However, last month’s figure is down by 0.6%, below the 4.90 million unit pace from December 2012. Last month’s numbers represented all-time lows […]