By the Numbers

Meanwhile, mortgage rates ticked back up after several weeks of declines — but 30-year rates are still holding close to 11-month lows.

The month-over-month jump “likely overstates any improvement in housing activity,” according to Nancy Vanden Houten, lead economist at Oxford Economics.

Mortgage rates are also expected to fall to 5.9% by the end of next year, according to Fannie Mae’s September Economic and Housing Outlook.

The Fed’s Sept. 17 rate cut was expected, but new unemployment numbers were not, causing volatility this week. Still, affordability could improve by year end.

The anticipated 25-basis-point cut may not push mortgage rates down further, but refi and purchase applications are way up, a positive sign for the fall market.

Rent prices have softened in a handful of major U.S. markets, but overall asking rents remain much higher now than before the pandemic.

Builder confidence remained low in September, according to the NAHB — but many are optimistic that declining mortgage rates will bring buyers back.

The weak job market may initially temper homebuyer demand, but eventually, falling rates should help “revive sales activity.”

Weak jobs data is expected to outweigh inflation numbers as the Fed considers a rate cut next week — which could be followed by more before the end of the year.

The top cities for investors are largely located in Florida and Texas, where home prices are typically lower, demand is strong and regulations favor landlords.

Trading on-campus food and housing costs for those linked to homeownership can save up to $30,000 in three years in some college towns, a new report suggests.

The U.S. economy added 22,000 new jobs in August — less than a third of what was expected — causing mortgage rates to plummet as real estate stocks climbed.

A year ago, surprising jobs data sent rates soaring. This year’s Sept. 4 report could also be pivotal, potentially resulting in volatility heading into fall.

Meanwhile, renter households have jumped, Redfin reported, citing affordability and other issues. But lower home prices could “be the headline” in a few months.

Details are scarce, but if the White House follows through on a potential emergency declaration, it could boost U.S. housing supply and improve affordability.

Smaller investors are seizing the opportunity as economic pressures make it tough for many buyers to afford a home, according to a recent Cotality report.

It’s possible mortgage rates — which have recently hovered under 6.6% — will drop to 6%, one economist noted, but it could take a couple of years to get there.

Pending home sales remain sluggish, but mortgage applications — and home touring activity — have ticked up as 30-year rates hold at 10-month lows.

While many borrowers take on a mortgage in the hope of refinancing when rates drop, a new report warns against counting on a refi as a financial lifeline.

New home sales were down 8.2% in July compared to a year ago despite an uptick in builder incentives. But those priced under $300k are selling the fastest.