We know you’re interested in how our industry is doing as it’s essential to the survival of the National economy:
Homebuyers still shopping despite coronavirus-fueled pessimism
Housing isn’t as doomed as it may seem – Here’s why
Will Fed bond-buying drive fixed mortgage rates below 3%?
Deep inside the fortresslike headquarters of the Federal Reserve Bank of New York in lower Manhattan, a group of market specialists on Monday re-started the bond-buying program that during the financial crisis was known as quantitative easing, or QE.
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U.S. housing market is missing 3.3 million homes, Freddie Mac says
America’s housing market is undersupplied by 3.3 million units, and the shortage is getting worse every year, Freddie Mac said in a report on Friday.
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Mortgage rates return to 3-year low
The average U.S. fixed rate for a 30-year mortgage fell to 3.45% this week, matching the three-year low set three weeks ago.
National Market Update, John Gates, Supreme Lending:
At the National Association of Realtors convention, their chief economist predicted new home sales will hit a 13-year high in 2020, up 11%, to 750,000. Existing home sales, at 5.56 million, will be the highest since 2017.
CoreLogic‘s chief economist reports, “In addition to lower interest rates, personal income grew faster than home prices during the past year,” helping to boost the homeownership rate to its highest level in more than five years.
TransUnion projects a flood of 8.3 million first-time homebuyers will hit the market in the next three years, more than in any three-year period in the last decade. And if economic growth beats expectations, make that 9.2 million.
Sales of new houses will rise to 13-year high in 2020, NAR’s chief economist saysSales of new homes probably will rise to a 13-year high in 2020 as the U.S. dodges a recession, according to Lawrence Yun, chief economist of the National Association of Realtors. |