One of the US’s largest banks made a subtle, but important change last month that could have big implications for entry-level homebuyers. That bank raised the cost of mortgages on lower-priced homes significantly.
Retail fundamentals benefited from growing consumer spending and confidence, posting declining vacancies and rising rents.
As originators retool in the wake of a declining refinance market, analysts will monitor the market for signs of increased risk taking.
Local and community banks were the largest lending source in REALTORS®’ commercial markets during 2016, accounting for 32% of transactions.
The outlook in the condominiums market is mixed, with a “very weak” outlook in West Virginia, a “weak” outlook in eight states and the District of Columbia, and a “moderate” to “very strong” outlook in the other states.
Compared to a year earlier, home prices continue to rise in 98%of counties.
Economic activity slowed in the first quarter of 2017, despite a milder-than-usual winter.
At the national level, housing affordability is down from last month and down from a year ago. Mortgage rates increased to 4.11% this April, up compared to 3.89% a year ago.
Independent of headline seasonally adjusted figures, expect busier activity in May and even better in June.
Each month, the Housing Opportunities and Market Experience (HOME) survey tracks changes in consumer views regarding the housing market. With HOME being launched in the first quarter of 2016, we can now compare what consumers are thinking about trends in real estate in the last year.