Results include
Economic Indicators
Sep 21, 2023
Bottom Line: Existing home sales fell again in August, countering expectations for a small rebound. The medium-term trend in sales was lower again, even before much of the recent increase in mortgage rates. The long-term trend was firmly to the...
Aug 22, 2023
Bottom Line: Existing home sales fell slightly more than expected in July after 30-year fixed-rate mortgages surged above 7% again. Sales had been turning modestly higher amid solid underlying demand, despite lower affordability due to higher mortgage rates. But with...
Jul 20, 2023
Bottom Line: Existing home sales fell slightly more than expected in June after 30-year fixed-rate mortgages surged towards 7% in late May. Still, we continue to see signs of stabilization with solid underlying demand despite lower affordability. Inventories of existing...
Jun 22, 2023
Bottom Line: Existing home sales rose slightly in May, countering expectations for a modest further decline. Sales continue to offer the potential for a bottom off the lows since January. That said, single-family sales were slightly lower in May. Inventories...
May 18, 2023
Bottom Line: Existing home sales slid mostly as expected in April, with slight negative revisions to prior data. Inventories rose slightly but remained historically very low at just 2.90 months of supply (sales/inventories), above the average of the last three...
Jul 19, 2023
Bottom Line: Housing Starts fell more than expected in June, and there were negative revisions to prior data. The new home market continues to perform better than existing home sales as demand remains robust, despite worse affordability. But this...
Nov 16, 2022
Following yet another interest rate hike, economists are predicting that the housing market will not only continue to slow, but will hit a major downturn in 2023. We discuss how CFIs can pivot and demonstrate their value to potential borrowers, when it occurs.