Analysis and Data
As the November 2024 Election approaches, more than half of homeowners and renters say housing affordability is impacting who they plan to vote for in the upcoming presidential election.
Housing market expected to see delayed boost from lower mortgage rates.
President Joe Biden offers up proposals to lower the costs in lieu of Fed action.
Mortgage rates dip slightly, prompting increase in home loan applications.
Despite challenges, experts anticipate a potential decline in final sale prices as price growth slows.
The Mortgage Credit Availability Index sees modest increase, reaching 92.9; conventional loans expand slightly, while government programs remain stable.
Consumer confidence in selling homes rises, but buying sentiment remains pessimistic.
Homeowners witness significant equity surge of $1.3 trillion with Northeastern states making the biggest gains.
Annual pay for job stayers was up 5.1%, lowest gain since August 2021.
The increase reflects positive sentiment despite rising interest rates and strong job market; Federal Reserve's scrutiny of upcoming economic reports may influence future rate adjustments.