By the Numbers

Daily rates hit 7.07% on Thursday, and analysts increasingly expect to see a rate hike next week. Meanwhile, existing home sales and mortgage applications fell.

There are many strong opinions about the proliferation of data centers, but so far, the impact on the residential real estate market appears to be minimal.

A recent Zelman & Associates analysis suggests that while the nation’s housing supply is nearly in balance with demand, a shortage of affordable units remains.

The U.S. added 162,000 jobs in August and 55,000 more jobs than first reported in June and July — data economists say makes the Fed more likely to raise rates.

Christopher Waller said the Fed shouldn’t hike short-term interest rates unless inflation worsens. Mortgage rates, however, are still rising for now.

The central bank “should act decisively to raise” short-term interest rates if inflation doesn’t start trending downward, Fed Governor Michael Barr said.

In hawkish remarks at the Jackson Hole Economic Symposium, Fed Chair Kevin Warsh praised the economy’s strength but warned that inflation remains “too high.”

While inventory has continued to creep up in the final days of the month, less homebuyer competition is expected in the coming weeks as the summer winds down.

Affordability is the main factor driving buyers to search for homes outside the metro where they already live, according to two new reports from Realtor.com.

Prices of new homes continued to fall in July as consumer demand remained weak, with Census Bureau data showing a 10.5% month-over-month drop in sales.

It takes about 15 years to save for a down payment and benefit financially from buying vs. renting, up from 11 years in 2019, according to a recent report.

While rates dipped slightly this week, bond market volatility could mean a bumpy road ahead, and Fannie Mae is now forecasting rates at 6.8% by year-end.

Signed contracts were down on a monthly and annual basis in all U.S. regions, while single-family home starts slowed to the lowest level since November 2022.

Mortgage rates changed little in response to new jobs and inflation data, but sellers are still increasingly outnumbering buyers in a sign of weakening demand.

Existing home sales fell 1.7% from June, with sales on pace to match last year’s rate. One bright spot: affordability improved nationwide, according to NAR.

Mortgage holder equity reached $18 trillion in June, but a growing share of borrowers in Texas and Florida are either underwater, behind on payments, or both.

Though a lackluster jobs report and weaker wage growth may sap consumer confidence, these factors could prompt the Fed to hold off on raising interest rates.

While closed home sales perked up in July, pending sales and mortgage application data suggests another market slowdown is on the way.

Aspiring Gen Z homeowners would rather change ZIP codes than increase their budgets, and finding the “right” home trumps buying one quickly, a new survey finds.

Some economists say the four-phase housing market cycle has been consistent for decades. But the current market’s “correction” phase isn’t behaving as expected.