Mortgage applications for new home purchases increased 15 percent compared to May 2016. Compared to April 2017, applications increased by 4 percent relative to the previous month.
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $224 on each loan they originated in the first quarter of 2017, down from a reported gain of $575 per loan in the fourth quarter of 2016.
The MPI index dropped seven points to 48 in the first quarter of 2017. The MPI has not had a reading of under 50 since the fourth quarter of 2011.
Renters are starting to look for cheaper housing options outside downtown cores, prompting rent payments to rise faster in the suburbs than in urban areas.
According to the U.S. Department of Housing and Urban Development and the Commerce Department, led by a decline in multifamily production, nationwide housing starts fell 2.6 percent in April.
According to Zillow, first-time homebuyers in the U.S. will have better luck in the Southeast if they are looking for a more affordable home.
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average U.S. mortgage rate rose for the first time in five weeks in late April 2017.
Independent mortgage banks and mortgage subsidiaries of chartered banks in the U.S. made an average profit of $1,346 on each loan they originated in 2016, up from $1,189 per loan in 2015.
Mortgage applications for new home purchases increased 6.7 percent compared to March 2016. Compared to February 2017, applications increased by 23 percent relative to the previous month.
According to Freddie Mac's latest Primary Mortgage Market Survey released April 13, 2017, the 30-year mortgage rate in the U.S. dropped for the fourth consecutive week and hitting a new low for 2017.
According to Freddie Mac, more U.S. home renters are optimistic about their financial situations and expect to stay where they are even if their rents increased.
The NAHB is reporting this week that U.S. home builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
The prospect of increased U.S. economic growth combined with less regulation, means that investor sentiment for commercial real estate investment is marginally more positive than last year.
According to Freddie Mac's latest Primary Mortgage Market Survey, the average 30-year fixed mortgage rate in the U.S. hit their highest mark of 2017. The 10-year Treasury yield rose about 10 basis points this week. For the first time in weeks.
Excessive regulations, rising mortgage interest rates and ongoing home price appreciation pushed housing affordability in the fourth quarter of 2016 to its lowest point since the third quarter of 2008.
Global property consultant Cushman & Wakefield announced this week that the U.S. industrial market nationwide absorbed 63.6 million square feet (MSF) of space in the fourth quarter of 2016.
U.S. commercial real estate executives are especially bullish on industrial, infrastructure and multi-family asset classes in 2017.