Overall housing starts rose in June driven by strong multifamily growth, while single-family production remained slow as elevated mortgage rates, rising construction costs and persistent labor shortages continued to weigh on the market, according to the NAHB. Overall housing starts …
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Economic uncertainty and persistent affordability challenges driven by rising material prices, high land costs and elevated mortgage rates forced builder sentiment downward in July. Builder confidence in the market for newly built single-family homes fell two points to 34 in …
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Existing home sales dropped in June as record-high home prices and elevated mortgage rates impacted buyers, according to an analysis from NAHB’s Eye on Housing. Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, fell 2.4% to a …
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Mortgage rates continued to increase in June due to high inflation and a stronger-than-expected labor market, according to the NAHB’s Eye on Housing. The 30-year fixed-rate mortgage averaged 6.49% in June, up 8 basis points (bps) over May. Since the …
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Elevated mortgage rates, rising inflation and economic uncertainty kept many buyers out of the market in May as consumers and builders continue to deal with challenging affordability conditions, according to an analysis from the NAHB. Sales of newly built single-family …
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Mortgage application activity declined in May as higher mortgage rate continued to impact the market, according to the National Association of Home Builders (NAHB). At the same time, adjustable-rate mortgages (ARM) gained traction. The Mortgage Bankers Association’s (MBA) Market Composite …
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Existing home sales edged up in April after reaching a nine-month low in March, but sales remained at historically low levels, according to an analysis from the National Association of Home Builders. Elevated mortgage rates and inflation driven by the …
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The average interest rate on a 30-year fixed-rate mortgage recently fell to around 6%, the lowest rate in close to three years, making homeownership possible for more people, according to the National Association of Home Builders (NAHB). NAHB Priced-Out Estimates …
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