Have lower mortgage rates already changed the housing market?
This weekend’s tracker focuses on how lower mortgage rates have changed the supply and demand data lines since mid-June.
Housing Market Tracker
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Can mortgage rates get below 6% with this Federal Reserve?
Mortgage rates dropped to 6.29% last week after the jobs report, but economic factors can only do so much without help from the Fed.
Lower mortgage rates pushed inventory lower in August
Year-over-year inventory growth has dropped from recent highs of 33% to 22%, despite mortgage rates not yet approaching 6%.
Did lower mortgage rates already lower housing inventory?
Last week we saw an actual decline in inventory week to week, which is rare for this time of year compared to recent years.
How much lower can mortgage rates go after Friday’s jobs report?
Mortgage rates fell 0.18% last week, breaking below the key threshold of 6.64%. How much lower can they go?
Housing inventory growth is starting to stall
Housing inventory rose to 860,426 last week, but that growth is starting to stall out as we head into August.
Mortgage spreads are almost back to normal
In a week marked by wild headlines, mortgage rates remained relatively calm, thanks to improvements in mortgage spreads.
Housing inventory actually fell last week. What is going on?
The Housing Market Tracker shows housing inventory decreased last week, while purchase application data grew 25% year-over-year.
Why mortgage purchase apps are on a 22-week growth streak
Purchase apps for existing homes have had 22 weeks of year-over-year growth, including nine weeks of double-digit year-over-year growth.
Have slightly lower mortgage rates stabilized the housing market?
With all the Fed drama last week, the 10-year yield declined and mortgage rates fell to 6.72%. This small move helped stabilize the market.