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Single Women Defying Housing Market Trends

Appraisal Buzz

As housing affordability reached its lowest point since 2006, one group stood out in defying market trendssingle women. Each mortgage payment serves as a form of forced savings, helping homeowners build wealth over time. housing trends. This modest increase continues a recovery from its 2016 low of 49.3%

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October jobs report will influence Fed policy, mortgage rates path

Housing Wire

Employment data for October is set to be released Friday, and it will go a long way in determining the path for mortgage rates, which have surged upward in the past month. At HousingWire’s Mortgage Rates Center on Tuesday, the average rate for 30-year conforming loans was 6.72%. This equated to homes being 9.2% renter population.

Mortgage 448
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New homes are selling like it’s 2006 again

Housing Wire

Low mortgage rates and incredible buyer demand won out over pressure from soaring lumber prices in March as single-family new home sales rose 20.7% million seasonally adjusted annual rate, according to the Department of Housing and Urban Development and the U.S. This is the fastest sales pace since September 2006. .

Buyers 505
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Lower mortgage rates are stabilizing the housing market

Housing Wire

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? Now, with five weeks of data in front of us, we can say they have stabilized the market. Mortgage rates went from a low of 2.5%

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The last time houses were this unaffordable was 2006

Housing Wire

in February, which was the first month to see price growth greater than 20%, according to Black Knight ’s monthly mortgage monitor report. housing was the least affordable ever back in July 2006 when it took 34.1% Since the start of 2022, rates have gone up 200 basis points and housing prices have surged 5.9%.

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Housing market inventory is starting to recover

Housing Wire

That’s up 37% from a year ago, but it’s important to take into account that the COVID-19 virus first took hold of the housing market in March 2020, said Doug Duncan, chief economist at Fannie Mae. “The March pace was the second strongest since 2006, surpassed only by this past December’s reading,” Duncan said.

Inventory 545
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Why is the housing market thriving in a pandemic?

Housing Wire

The deadliest pandemic in more than a century has failed to derail the housing market because of the lowest mortgage rates ever recorded coupled with a shift in how people use their homes. rate for a 30-year fixed mortgage has been under 3% since late July, as measured weekly by Freddie Mac. The average U.S.