According to Freddie Mac's latest Primary Mortgage Market Survey, the average mortgage rates hitting their lowest mark of the year in Mid-May 2017. 30-year mortgage rate fell 7 basis points this week.
Changing demographics brought forth by immigration and growing interest from foreigners are positioned to bolster home sales activity and prices.
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 Zillow, first-time homebuyers in the U.S. will have better luck in the Southeast if they are looking for a more affordable home.
Despite a 12-point drop from the previous quarter, builder confidence in the single-family 55+ housing market remains in positive territory for the first quarter of 2017 with a reading of 55.
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.
According to the National Association of Realtors, existing-home sales took off in March 2017 to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago.
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 ATTOM Data Solutions' Q1 and March 2017 U.S. Foreclosure Market Report, which shows first quarter foreclosure activity was below pre-recession levels nationwide and in 102 out of 216 metropolitan statistical areas (47 percent) analyzed in the report.
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.
Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade. All major regions saw a notable hike in contract activity last month.
Nationwide U.S. housing starts rose 3 percent in February from an upwardly revised January reading to a seasonally adjusted annual rate of 1.288 million units.
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.
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.
According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. rose 12.2 percent annually in 2016 to 563,000 units, the highest yearly gain since 2007.