New home sales were stronger in November than they were in October due to low long-term rates. What will the New Year hold for housing sales?
Even though home sales dipped last month, it's still a good time for first-time home buyers to purchase a home. Long-term rates are very low and the market is favoring the buyer.
New home sales are seeing stronger numbers due to the drop in long-term interest rates. How will the Fed's decision to keep short-term rates at current levels affect the housing market?
Due to drops in long-term fixed rates, the housing market is seeing some stabilization after softening in the last year. Short-term rates have also remained level. Home buyers are taking advantage of these low rates. What will the housing market be like next year?
Low long-term interest rates should fuel the housing market in upcoming months, as August's new home sales numbers come in higher than July's.
Sales of existing homes were down for the month of August from the month before. But current interest rates and housing market still favor the buyer.
Sales for existing homes dropped slightly last month compared to sales in May. The ease in sales may have something to do with the latest interest rate hikes. However, the Fed indicated they may pause the rate hikes soon, indicating that inflation is nearly under control. What does that mean for people interested in buying a home?
Overall applications for mortgages decreased slightly from the previous week with purchases remaining nearly steady and refinances decreasing by almost five percent. Rates have stopped rising for the moment and homeowners are taking advantage of fixed rate programs.
Sales of single-family homes were up almost five percent from last month. Steady job growth, a strong economy and low long-term interest rates continue to support a strong year for housing.
Sales of existing homes dipped slightly last month; however, the market is still strong due to a growing economy and healthy job market. Long-term interest rates remain historically low and the Fed signaled a possible upcoming break from raising short-term interest rates.