Newsfeed: Homebuilders say U.S. is in a ‘housing recession’ as sentiment turns negative
Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs.
Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs.
Housing has become increasingly unaffordable to millions of Americans — with home prices and mortgage rates continuing to rise (see the lowest rates you may qualify for now here).
The average for a 30-year loan fell to 5.3%, the lowest in a month and down from 5.7% last week, Freddie Mac said in a statement Thursday.
Black Knight publishes a monthly Mortgage Monitor report that contains interesting information on the mortgage market and housing.
Mortgage costs are the most expensive in years as the Federal Reserve embarks on aggressive quantitative tightening, implying that the souring macroeconomic climate may not support extraordinary home price growth for much longer as the national inventory of homes increases for the first time in years, according to Realtor.com data.
Housing prices could drop by as much as 10% in many U.S. cities, per Fortune, referencing a new report from Moody’s Analytics.
In the week ending April 28, 2022, mortgage rates fell for the first time in eight weeks. 30-year fixed rates slipped by 1 basis point to 5.10%. 30-year fixed rates rose by 11 basis points in the week prior.
Home price growth in the U.S. paused in the final month of 2021, but the full year logged in record gains.
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted an 18.8% annual gain in December, unchanged from November. The 20-City Composite posted an 18.6% annual gain, up from 18.3% a month earlier. The 20-City results were higher than analysts’ expectations of an 18% annual gain, according to Bloomberg consensus estimates.