Home shoppers are getting some slight relief as mortgage rates are now comfortably below the 7% mark.They could stay below that threshold if next week’s inflation data continues to move in the right direction. The latest data shows inflation is continuing to fall. As inflation and inflation expectations move lower,...
Existing homes sales fell by 5.4% in June to a seasonally adjusted annual rate (SAAR) of 3.89M and are now down 5.4% from June 2023, according to the National Association of Realtors (NAR). Total housing inventory at the end of June increased to 1.32 million units from 1.28 million units...
Building permits issued in March increased to 1,458,000 (SAAR). That’s 4.3% below the revised February rate and 1.5% higher than a year ago.
Mortgage rates increased this week ahead of the Federal Reserve’s interest rate decision as investors came to grips with a more hawkish Federal Open Market Committee (FOMC), less disinflation and the federal funds rate remaining high for longer.
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