Pending home sales can give buyers an early look at housing demand. A pending sale occurs when a contract has been signed for an existing home, but the transaction has not yet closed. Because these contracts usually precede completed sales, pending home sales can help indicate whether buyers are becoming more active or pulling back. […]
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Should I wait for mortgage rates to drop after a weak jobs report? It is a common question because labor market news can affect rate expectations. A weaker jobs report may suggest the economy is cooling, and that can sometimes support lower-rate expectations. But it does not guarantee mortgage rates will fall right away, and
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Jobless claims and mortgage rates are often discussed together because weekly unemployment data can give markets an early look at labor market conditions. When more people file for unemployment benefits, it may suggest that hiring is slowing or that some workers are having a harder time staying employed. When claims remain low, it may suggest
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Inflation and mortgage rates are closely linked because inflation can shape how investors, lenders, and policymakers view the future cost of borrowing. When inflation runs hotter than expected, markets may expect interest rates to stay higher for longer. For homebuyers, that can affect monthly payments, affordability, and the timing of a purchase. Hot inflation does
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Labor market data and mortgage rates are closely watched because they both help tell the story of the economy. When job growth is strong, wages are rising, and unemployment is low, markets may signal a resilient economy. When hiring slows, unemployment claims rise, or wage growth cools, markets may see signs that the economy is
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When it comes to building long-term wealth, few choices are as impactful as homeownership. According to the latest data from MBS Highway, the average homeowner’s net worth is an astounding 43 times higher than that of a renter. Yes, you read that right — 43 times! This isn’t just a statistic; it’s a powerful reminder
Our friends at MBS Highway did a great job of breaking down the fed rate cut and what that means for us! “Fed Breakdown The Fed cut rates 50bp yesterday to a target range of 4.75% to 5%, with the effective Fed Funds Rate at 4.875%. Deciding to go 50bp instead of 25bp shows that
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The MBS Highway National Housing Index dropped 2 points in September 2024 to 40. With the seasonal slowdown well underway, the decline in mortgage rates over the last four months has yet to noticeably boost buyer activity. #mbshighwayhousingsurvey #mbshighwayhousingindex #mbshighway #mbssocialshare #mortgagemarketnews
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Inflation continues to make progress as the headline Consumer Price Index eased to 2.5% YoY in August from 2.9% in July, reaching its lowest level since February 2021. Core CPI (which removes food and energy prices) held steady at 3.2% YoY due in large part to shelter costs. These crucial readings keep the Fed on
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In 2023, the housing market showed some interesting trends. Even though fewer homes were being bought and sold. The amount of money people owed on their mortgages went up to an average of $244,498. But this increase wasn’t as sharp as in previous years. Home prices across the country rose by 5.5% up until the
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