Purchase

Home sales in Greater Hartford continued to surge in August with houses selling faster and at higher prices than the same month a year ago.

Sales of new homes in the unexpectedly advanced for a fourth month in August to the highest level in almost 14 years as record-low mortgage rates continued to entice buyers into a market with ever-shrinking supply.

Mortgage rates experienced a marginal uptick this week, rising three basis points. But they remained near record lows and possibly soon could track down again, according to Freddie Mac.

Wholesale's technological capabilities and its scalability have been increasingly attractive to lenders given the recent surge in volume.

Chattanooga, Tenn., home sales continued last month to rebound from the coronavirus-spurred slump in the spring, boosting the median price of homes sold during August to an all-time high.

Mortgage applications increased 6.8% from one week earlier as this summer's surprise purchase demand has carried over to the fall, according to the Mortgage Bankers Association.

Sales of new homes climbed in Houston and other large Texas markets in August, with September shaping up to be another strong month for sales for the homebuilding industry.

But the group is more conservative than Fannie Mae when it comes to interest rate movements over the next six quarters.

Outside the densely populated coastal hubs, annual home sales grew by leaps and bounds, as buying patterns shifted toward more space with less emphasis on proximity to urban centers, according to Redfin.

Sales of previously owned homes remained brisk in August as low mortgage rates and demand for space in the suburbs sustained strength in a housing market that’s a bright spot for the economy.