Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year.
October Monthly Skinny Video
September Monthly Skinny Video
Strong buyer activity has continued into the fall, which is normally the start of the seasonal slowing of the housing market.
August Monthly Skinny Video
In August, showings and pending sales remained at strong levels while housing inventory remained limited, continuing the competitive bidding market we have seen in recent months.
July Monthly Skinny Video
With the inventory of homes for sale still constrained, a competitive market for buyers shows little sign of waning.
June Monthly Skinny Video
Even as hopes of a phased June reopening all but faded, real estate activity continued to strengthen.
Mortgage Rates Rise for the First Time in Weeks
July 23, 2020
While housing demand continues to rebound, the month-long swoon in economic activity has caused the 10-year Treasury benchmark to drop. In the short-term, this means the demand will continue on the back of near record low mortgage rates. However, the most recent consumer spending data has been pointing to slow growth since mid-June. The concern is that the pause in economic activity will cause unemployment to remain elevated which will lead to longer-term labor market distress.
Information provided by Freddie Mac.
Mortgage Rates Fall Below Three Percent
July 16, 2020
Mortgage rates fell below 3 percent for the first time in 50 years. The drop has led to increased homebuyer demand and, these low rates have been capitalized into asset prices in support of the financial markets. However, the countervailing force for the economy has been the rise in new virus cases which has caused the economic recovery to stagnate, and this economic pause puts many temporary layoffs at risk of ossifying into permanent job losses.
Information provided by Freddie Mac.
Mortgage Rates Hit Another All-Time Record Low
July 9, 2020
The summer is heating up as record low mortgage rates continue to spur homebuyer demand. However, it remains to be seen whether the demand will continue if COVID cases rise to the point that it hinders economic growth.
Information provided by Freddie Mac.
Mortgage Rates Hit All-Time Record Low Heading into Holiday Weekend
July 2, 2020
Mortgage rates continue to slowly drift downward with a distinct possibility that the average 30-year fixed-rate mortgage could dip below 3 percent later this year. On the economic front, incoming data suggest the rebound in economic activity has paused in the last couple of weeks with modest declines in consumer spending and a pullback in purchase activity.
Information provided by Freddie Mac.
