Analysis and Data
The average 30-year fixed rate mortgage jumped to 6.94% last week.
NAR report shows regional disparities in transactions, highlighting sensitivity to mortgage rate changes.
Panel anticipates 3.8% annual increase, with majority seeing upside risk amidst ongoing housing challenges.
Despite overall stability, 17 states witness yearly increases; concerns arise over consumer credit performance amidst economic shifts.
More sellers are listing their homes, but mortgage rates and steep home prices are suppressing sales.
Mortgage Bankers Association's Purchase Applications Payment Index (PAPI) highlights nationwide increase in median payments, potentially hampering spring homebuying season.
American homeowners still "sitting pretty" according to Redfin report
Refinance activity declines, purchase volume slows amidst inventory constraints.
CoreLogic, FHFA Home Price Indices kick off year of expected home price highs.
National delinquency rate drops 5.48% while foreclosure starts increase.