Throughout 2018, we’ve seen many trends that set the groundwork for the acceleration of financial technology (fintech) adoption. It has been a strong seller’s market across the top U.S. metropolitan areas. With inventory low and house prices at historic highs, prospective home buyers felt pressured to settle deals quickly before opportunities...
Topics: fintech, eClosing, Remote online notarization, chat bots, Real Estate Sentiment Index, Housing, Interest Rates
In September, all three of the key drivers of the Real House Price Index (RHPI), household income, mortgage rates, and an unadjusted house price index, increased compared with a year ago. When household income rises, consumer house-buying power increases. When mortgage rates and house prices increase, consumer house-buying power decreases. The...
Topics: Real House Price Index, Affordability, Insider, Interest Rates
First American Chief Economist Mark Fleming was interviewed on CNBC earlier this week and discussed the current dynamics at play in the housing market where rising mortgage rates have impacted both supply and demand.
Topics: Housing, In The News, Interest Rates, Affordability, Millennials
While the housing market continues to underperform its potential by 6.5 percent, the gap between actual existing home sales and the market potential for home sales narrowed by 1 percent in October compared with September, according to our Potential Homes Sales model. The housing market has the potential to support more than 391,000 additional...
Topics: Potential Home Sales, Interest Rates, homeownership, Federal Reserve, Insider
Last week, the 30-year, fixed mortgage rate hit a seven-and-a-half-year high of 4.86 percent. Most experts believe mortgage rates will continue to rise, reaching 5 percent in 2019.
Topics: Affordability, Federal Reserve, Interest Rates, Insider
Understanding the dynamics that influence consumer house-buying power, how much home one can buy based on changes in income and interest rates, provides helpful perspective on the housing market. When incomes rise, consumer house-buying power increases. When mortgage rates or nominal house prices rise, consumer house-buying power declines. Our...
Topics: Real House Price Index, Affordability, Insider, Interest Rates
