New data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey shows that mortgage applications rose by 6.3% for the week ending November 22, 2024.
The National Association of Home Builders (NAHB) reports that rising mortgage rates and persistent affordability challenges kept many potential homebuyers on the sidelines in October 2024.
According to new data from Redfin, over one in five U.S. renters (22%) report that all of their regular income is spent on rent in 2024.
U.S. homebuyers are finding more leverage in negotiations nationwide as competition eased in October 2024. The company's market heat index shows that conditions are gradually shifting toward a buyer's market as activity slows heading into winter.
Posted on October 25, 2024
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