Mortgage rates

Local home construction dipped again last month, though the year-to-date pace of building continues to surpass that of 2017 by a healthy margin.

Homebuyers saving for a down payment contributed to the slowest rate of August price appreciation in nearly two years; and the market could have even less momentum by next summer.

The strong U.S. economy pushed mortgage rates in the past week to their highest level in over seven years, and further hikes are on the way, according to Freddie Mac.

Mortgage applications were up 2.9% from one week earlier, even as the rate for the 30-year conforming mortgage reached its highest point in over seven years, according to the Mortgage Bankers Association.

Purchases of new homes rebounded in August from the slowest pace in almost a year, a potential sign of stabilization in the market, according to government data Wednesday.

A stronger economy, easing house price appreciation and slightly improving inventory conditions aren't enough to push up home sales this year, according to Freddie Mac.

Mortgage rates increased 5 basis points this week, up for the fourth week in a row with momentum building for further hikes, according to Freddie Mac.

As mortgage rates remained mostly tepid throughout the summer, closed refinances had their first month of growth in August, according to Ellie Mae.

Mortgage applications were up 1.6% from one week earlier, marking only the second increase of the past two months despite key interest rates rising, according to the Mortgage Bankers Association.

New-home construction rose more than forecast to a three-month high in August, while permits unexpectedly saw the biggest drop since February 2017, adding to signs that homebuilding is struggling to stabilize.