Housing Market Tracker: Mortgage rates and inventory fall together
If the mortgage market wasnât so stressed, mortgage rates should be at 5.99% today. In a regular market, they would be closer to 5.25%.
If the mortgage market wasnât so stressed, mortgage rates should be at 5.99% today. In a regular market, they would be closer to 5.25%.
Mortgage rates fell last week after the failure of Silicon Valley Bank spooked bond traders worried about contagion.
Between 2012 and 2022, about 14.6 million households were formed, but only 11.9 million housing units were completed.
After another challenging week, the housing market should see seasonal housing inventory increase in the next couple of weeks.
Last week mortgage rates rose as purchase applications and inventory fell, with a noticeable move lower in new listing data.
Gathering of Eagles is the must-attend event of 2023 for real estate presidents, senior leaders, and broker-owners.
The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher.
Purchase applications fell 10% and housing inventory decreased by 8.664 units last week, according to the Housing Market Tracker.
We might only be a few weeks into 2023, but these first weeks have been rich with informative data on the housing market.