National property broker Redfin says there are new signs pointing to a shift toward a buyer's market in 2024, as pandemic-driven inflation takes its last gasps, mortgage rates come down and more people list their homes for sale.
According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending December 1, 2023, U.S. mortgage applications increased 2.8 percent from one week earlier.
Based on ATTOM's newly released its third-quarter 2023 U.S. Residential Property Mortgage Origination Report, 1.54 million U.S. mortgages secured by residential property (1 to 4 units) were issued in the United States during the third quarter, representing a 3 percent decline from the prior three-month period.
Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.29 percent. This week's results include an adjustment for the observance of Thanksgiving.
Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. All four regions experienced year-over-year sales declines.
Posted on November 07, 2023
Posted on October 19, 2023