According to CoreLogic's latest CoreLogic Home Price Index for August 2021, U.S. home prices rose to a fever pitch this summer, with annual price gains reaching another all-time high in August 2021 at 18.1%.
National property broker Redfin is reporting that the average U.S. homebuyer's monthly mortgage payment rose $50 over the last six weeks. At the same time, sellers' median asking price increased 12% year over year to a new record-high and mortgage rates surpassed 3%.
According to the Mortgage Bankers Association's latest monthly CREF Loan Performance Survey, U.S. delinquency rates for mortgages backed by commercial and multifamily properties declined in September 2021.
Pending sales were up just 4%, the smallest year-over-year increase since June 2020. Other housing market measures continued to show a typical seasonal cooling, with fewer than half of homes selling above list price and new listings of homes for sale down 20% from their 2021 peak.
The National Association of Realtors Senior Economist and Director of Forecasting, Nadia Evangelou, is reporting that U.S. mortgage rates rose sharply this past week following the trend of the 10-year Treasury yield.
Posted on August 04, 2021