Tuesday – April 27, 2021 Home prices continue to rise due in part to low inventories of listings on the market along with pent-up demand. The S&P Case Shiller 20-City Home Price Index jumped 11.9% annually in February, up monthly … Read More
The bill in legislature to help first-time homebuyers looks a lot different than previous drafts. President Joe Biden’s down-payment assistance bill would provide $25,000 to first-time homebuyers, but only those who are also first-generation homebuyers and economically disadvantaged. It is … Read More
Friday – April 23, 2021 The housing sector continues to be a bright light for the U.S. economy and should continue through 2021. The Census Bureau reports that New Home Sales rose 20% in March from February to an annual … Read More
Millions of Americans are entering the housing market and the shift away from urban areas is drastic. A recent Zillow survey showed that more than 1 in 10 Americans reported moving in the part 12 months. And now, with the … Read More
Friday – April 16, 2021 The FNMA 30-year 2% coupon hit 99.38 on March 30 and rose to a high of 101.09 yesterday. That’s a near 20% increase in the price of the security in 12 trading days. At the … Read More
STATUS QUO FOR TWO MORE YEARS – The most recent meeting of the Fed ended on 3/17/21 with their interest rate forecast calling for no interest rate hikes by the Fed until at least 2023 (source: Federal Reserve). HAVE KIDS, … Read More
Friday – April 9, 2021 The March Producer Price Index (PPI) or wholesale inflation heated up, coming in up 1% versus the gain of 0.5% expected. The Core rate jumped 0.7%, above the rise of 0.2% estimated. Annually, PPI is … Read More
Homes may be the most expensive they have ever been but that’s not stopping buyers from snatching them up. According to a new study by Redfin, the median home price rose 16% annually to a record-high of $331,590 for the week … Read More
Thursday – April 1, 2021 Home borrowing costs were essentially unchanged this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 3.18% from 3.17% with 0.7 in points and fees. A year … Read More
Bidding wars are the name of the real estate game. And when there is a bidding war, cash is king. A recent Redfin study confirmed that it’s a good way to win your dream house in a market this crazy. … Read More