Economic Center Blog
Welcome to the First American Economic Center Blog, a top source for the latest housing market research and analysis driven by Chief Economist Mark Fleming.

The REconomy Podcast™: How ‘the Force’ of Demographic Trends will Impact the Housing Market

By FirstAm Editor on September 28, 2023
In this episode of The REconomy Podcast™ from First American, Chief Economist Mark Fleming and Economist Ksenia Potapov discuss how demographic forces can influence both home-buying demand and supply as millennials and Baby Boomers age into important phases of life that will impact the housing market. Read More›

Housing Interest Rates Affordability REconomy

Affordability Sinks to Lowest Point in Over Three Decades

By Mark Fleming on September 25, 2023
In July 2023, the Real House Price Index (RHPI) jumped up by nearly 17 percent on an annual basis, bringing housing affordability to the lowest point in over three decades. Two factors drove the sharp annual decline in affordability – a 4 percent annual increase in nominal house prices and a 1.4 percentage point increase in the 30-year, fixed ... Read More›

Interest Rates Real House Price Index Affordability

The REconomy Podcast™: Should You Rent or Buy a Home Right Now?

By FirstAm Editor on September 14, 2023
In this episode of The REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine the timeless, yet extremely timely question – to be or not to be a homeowner? Read More›

Housing Interest Rates Affordability REconomy

The REconomy Podcast™: Breaking Down the Mortgage Rate Spread and What it Means for Mortgage Rate Trends

By FirstAm Editor on August 31, 2023
In this episode of The REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine why mortgage rates have drifted higher by breaking down the components of the spread between the average 30-year, fixed mortgage rate and the 10-year U.S. Treasury yield, explaining how each component is ... Read More›

Housing Interest Rates Affordability REconomy

Where are Mortgage Rates Headed Through the End of 2023?

By Mark Fleming on August 28, 2023
Two of the three key drivers of the Real House Price Index (RHPI), nominal house prices and mortgage rates, dragged affordability lower in June. The 30-year, fixed mortgage rate increased by 0.3 percentage points and nominal house prices accelerated by 0.8 percent compared with May. While household income increased by 0.4 percent, it was not ... Read More›

Interest Rates Real House Price Index Affordability

The REconomy Podcast™: Why U.S. Homeowners Have a Big Advantage in a Rising Mortgage Rate Environment

By FirstAm Editor on August 17, 2023
In this episode of The REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine how mortgage loan products are structured in other countries and compare them to the prevailing mortgage loan product in the U.S. – the 30-year, fixed-rate mortgage. Read More›

Housing Interest Rates Affordability REconomy