Once again, home buyers benefitted from a year-over-year affordability boost as two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of increased affordability in November. Compared with November 2018, the 30-year, fixed-rate mortgage fell by 1.2 percentage points and household ...
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The final month of 2019 saw actual existing-home sales exceed housing market potential by 1.2 percent, or an estimated 64,830 seasonally adjusted annualized sales. According to our Potential Home Sales Model, housing market potential increased 1.7 percent in December 2019 relative to the previous month, and grew 2.6 percent year over year, an ...
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Global events and uncertainty, such as the conflict between the U.S. and Iran, clearly impacts geopolitical relations, but also impacts the U.S. economy, and more specifically, the U.S. housing market. How? Against a backdrop of uncertainty, investors worldwide look for a safe place to put their money. U.S. bonds, backed by the full faith and ...
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Interest Rates Real House Price Index Federal Reserve Affordability
As we predicted last month, the Loan Application Defect Index for purchase transactions reached a turning point in November. After falling since March, the Defect Index for purchase transactions increased 2.7 percent compared with October, while the Defect Index for refinance transactions fell by 1.6 percent, its eighth straight month of declining ...
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First American Chief Economist Mark Fleming was interviewed on CNBC and Yahoo! Finance last week, discussing the 2020 outlook for the housing market and how persistently low mortgage rates may both help and hurt home buyers in the year ahead.
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Affordability improved in October as two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, modestly swung in favor of increased affordability relative to one year ago. The 30-year, fixed-rate mortgage fell by 1.1 percentage points and household income increased 2.6 percent compared with October ...
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