Analysis and Data
Existing homes sold in June at a rate only 40,000 units above that experienced in October 2023 — when mortgage rates kissed 8% — and 1.5 million units lower than June 2019.
An Auction.com survey found the "hidden costs" of homeownership contributed to rise in delinquencies.
Deals are falling through as buyers grow selective and the reality of high housing costs hits home.
Fannie Mae and Redfin both forecast home price growth slowing in latest reports.
Sunday month-ends typically lead to a sharp, albeit temporary, spike in delinquent mortgages
The average existing mortgage rate for Texans is 4.3%.
FHA takes highest share of applications, as first-time home buyers enter market
The 30-year fixed-rate mortgage averaged 6.77% as of July 18, 2024.
Newest data could help incentivize rate cuts later this year
Single-family home prices saw a year-over-year increase of 6.9% in Q2 2024, per Fannie's latest Home Price Index.