Analysis and Data
Lack of inventory, high mortgage rates holding down sales of existing homes, NAR says.
CoreLogic said the serious delinquency rate fell to 1.1%, the lowest level in 23 years.
Redfin says that’s nearly double the rate a year earlier.
The spread between mortgage rates and the 10-Year Treasury yield is worth watching.
MBA's affordability index finds mortgage application payments rose 0.9% to $2,112.
Black Knight 'first look' finds national delinquency rate jumped 13%.
The MBA's Market Composite Index decreased 4.6% on a seasonally adjusted basis as mortgage rates rose again.
Sales of new single-family homes rose 4.1% in April from March, and are up nearly 12% YOY.
Nationwide, the typical home costs an estimated 25% more per month to own than rent.
Applications in April fell 11% from March, but were up from a year earlier for the third straight month.