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Existing Home Sales Rise Slightly for the First Time in Four Months

Existing home sales snapped a four-month losing streak in June. Sales of pre-owned single-family houses, townhouses, condominiums, and cooperative apartments, rose 1.4 percent on a seasonally adjusted annual basis to 5.86 million units, 22.9 percent higher than the 4.77 million rate in June 2020. Activity was higher month-over-month in three of the four major regions […]

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Exhausting Home Prices; No Big Digital Push From Covid; Big News For Refi Rates As Adverse Market Fee is Removed

It was big, bad news when it came out last summer. Almost a year later, the 50 basis point “adverse market fee,” which affected a majority of refinance mortgages has been eliminated! Backstory In early August 2020, Fannie and Freddie (who collectively buy or guarantee a vast majority of all mortgages) announced that virtually all […]

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Pending Home Sales Bounce Back 8.0% in May

Pending Home Sales Bounce Back 8.0% in May All four regions of the U.S. registered both month-over-month increases and year-over-year gains for pending home sales contract transactions in May. Media Contact:  Quintin Simmons 202-383-1178

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May 2021 Existing-Home Sales Down for Fourth Straight Month as Home Prices Hit Historic High

Existing-home sales data show that housing market activity in May 2021 fell 0.9% from April 2021, but rose 44.6% year-over-year. www.nar.realtor – Research

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Vacation Home Sales Surges During Pandemic

In 2020, vacation home sales rose by 16.4%, outpacing the 5.6% growth in total existing-home sales. www.nar.realtor – Research

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Bonds Move to Sidelines Ahead of Jobs Report; Rate Volatility Risks; Census Bureau on Home Features

Mortgage rates were higher again today with multiple lenders making additional upward adjustments in the middle of the day in response to bond market volatility. The prices/yields of certain bonds are the primary building blocks for lenders as they determine where to set mortgage rates every day. Bonds respond to a variety of inputs, with […]

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Existing Home Sales Post Third Monthly Loss in April

Existing home sales posted their third monthly loss in April, falling 2.7 percent compared to sales in March. The National Association of Realtors® (NAR) said seasonally adjusted sales of single-family homes, townhouses, condominiums, and cooperative apartments were at a rate of 5.85 million units compared to 6.01 million the prior month. The annual rate has […]

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Pending Home Sales Rise Less Than Expected as Inventory Remains Ultra Tight; Rates Recover After Bumpy Start; Digital Lending Speeds Things Up

While the degree to which is happened was somewhat disappointing, pending home sales did snap out of a two-month slump in March . The National Association of Realtors’® (NAR’s) Pending Home Sales Index (PHSI) rose 1.9 percent to 111.3 in March and is now up 23.3 percent compared to March 2020. However, NAR points out […]

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Disconnect Between Home Sales, Prices, and Rates

Posted To: Mortgage Rate Watch This week’s New Home Sales report (for the month of March) stole the show, coming in over 1 million for the first time since 2006. But although sales are up 66% year-over-year, prices have fallen in recent months and are now basically unchanged from last year. What’s up with that? […]

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Existing Home Price Appreciation Hits All-Time High and New Home Sales Bounce Back

Economic and Housing Weekly Note – April 23, 2021…(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Around The Web

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