Analysis and Data
High mortgage rates are keeping homebuyers reluctant, leading to declining home sales and a build-up of supply.
30-year fixed mortgage moves up to 5.51%
Single-family home prices increased at the annualized rate of 19.4% in the second quarter of 2022.
ATTOM found 96% of major metro areas had an annual increase in foreclosure filings as the U.S. foreclosure levels spiked 219%.
Net new listings increase for pricey homes (400k+), while new listings for affordable homes decrease.
In latest weekly survey, applications decreased 1.7% from one week earlier.
Latest Consumer Price Index report sets up Federal Reserve for another 75-basis-point rate hike.
The 0.3% decrease indicates that lending standards are constricting.
Lack of supply & housing affordability cited as biggest hurdles in latest NAR survey.
The Mortgage Delinquency Rate dropped in April for the 13th straight month.