Tag Archives: mortgage rates

Two year low in new home prices and turndown in sales show renewed pressure caused by increased mortgage rates  – by New Deal democrat Once again, this morning’s report on new single family home sales shows that the compete bifurcation of the new vs. existing home markets continues. Unlike existing homeowners, many of whom are shackled in place by 3% mortgages, new home builders can offer price incentives and downsize floor plans to increase...

Mortgage rates continue to rise; once the backlog in construction is cleared, this will likely kill housing No important economic news today (April 22), but an important negative trend in interest rates is continuing. Mortgage rates are now at 12 year highs. The weekly data from Freddy Mac’s weekly survey shows rates increased to 5.11% as of April 21: This is 2.46% above the low of 2.65% that was set at the end of 2020, and the...

Housing permits jump; the last hurrah before mortgage rates bite? This morning’s report on January housing permits and starts highlighted the unique divergence between the two. As I have often pointed out, permits are the more leading and less noisy of the two reports, so I usually highlight them, especially single family permits. But in the past year there has been a marked divergence in trend between the two data sets, as permits soared then...