Builder sentiment in the market for newly built homes rose in April for the fourth straight month, as the supply of existing homes for sale remains scarce.
The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday.
Newsfeed: Mortgage rates tumble in the wake of bank failures Read More »
NTD spoke with Robert Helms, host of the radio show The Real Estate Guys, to talk about what he’s seeing in the housing market.
Newsfeed: Housing Market Could Get Dicey: Investor Read More »
Just months ago, the housing market remained in overdrive: surging home prices, historically low interest rates and unrelenting demand. However, data now suggests to some experts that the market is in a “housing recession.”
Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic, according to a monthly survey released Monday by Fannie Mae.