For 2020, the National Association of REALTORS’ Chief Economist, Lawrence Yun, sees good news for home prices.
Little Change in Mortgage Rates
February 20, 2020
The low mortgage rate environment continues to spur homebuying activity, with applications to purchase a home up fifteen percent from a year ago. We’ve seen new residential construction surge over the last few months, on pace to reach the highest level in more than a decade. This is a good sign for the inventory-starved housing market and is a promising indication for the spring homebuying season.
Information provided by Freddie Mac.
Mortgage Rates Tick Up Slightly
February 13, 2020
With mortgage rates hovering near a five-decade low, refinance application activity is once again surging, rising to the highest level in seven years. This surge coupled with strong purchase activity means that total mortgage demand remains robust, reflective of a solid economic backdrop and a very low mortgage rate environment.
Information provided by Freddie Mac.
December Monthly Skinny Video
“Buyer demand continues to be strong, especially given the supply constraints.”
Mortgage Rates Fall for the Third Consecutive Week
February 6, 2020
As rates fell for the third consecutive week, markets staged a rebound with increases in manufacturing and service sector activity. The combination of very low mortgage rates, a strong economy and more positive financial market sentiment all point to home purchase demand continuing to rise over the next few months.
Information provided by Freddie Mac.
Mortgage Rates Continue to Drop
January 30, 2020
This week’s mortgage rates were the second lowest in three years, supporting homebuyer demand and leading to higher refinancing activity. Borrowers who take advantage of these low rates can improve their cash flow by lowering their monthly mortgage payments, giving them more money to spend or save.
Information provided by Freddie Mac.
October Monthly Skinny Video
Fannie Mae is predicting that continued low rates and possibly lower rates are expected in 2020.
August Monthly Skinny Video
“There’s a lot of interest in the housing market and how a changing economy affects one’s position within it.”
July Monthly Skinny Video
Home price growth has slowed and now more closely matches income and wage growth – a healthy development.
June Monthly Skinny Video
Despite strong buyer demand, sales totals are lower due to a lack of affordable supply
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