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Consumer home purchasing power gained steam in July thanks to plummeting interest rates and gains in the median income despite steady price growth, according to First American.September 28
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Median closing prices hit a new record high during the four-week period ended Sept. 6, Redfin said.September 14
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Home purchase power increased by almost 7% annually in July as mortgage rates were at or near record lows.September 3
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As interest rates tumbled throughout July, prepayments climbed to the highest monthly rate since 2004, but 90-days-or-more delinquencies were on the rise from June, according to Black Knight.August 21
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Tight inventory is expected to drive home prices higher over the summer, according to First American.July 27
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Pre-pandemic, home-buying power was high, but few are likely to buy a home today given a host of uncertainties regarding coronavirus, First American said.April 27
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January's plummeting mortgage rates led to a spike in the share of millennials refinancing their home loans, a trend that should carry into February and March, according to Ellie Mae.March 5
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December's potential for existing-home sales grew by 1.7% compared with November because of low mortgage rates, but in the future that factor could constrain the housing market, First American Financial said.January 23
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November was another month in the latter part of 2019 where actual existing-home sales outperformed their potential, but that momentum seems unlikely to continue in 2020, First American said.December 18
