Weekly Housing Headlines

Mortgage applications increased 1.7% from one week earlier, and new home purchase mortgage applications increased 8.2% in October; data shows that sales of previously owned homes rose 3.4% in September; for the first time since 2010, homes with low natural disaster risk gained value faster than high-risk homes; and there was a 1.9% quarterly increase in lending, marking the second consecutive quarterly gain – a pattern not seen since early 2021.

October New Home Purchase Mortgage Applications Increased 8.2 Percent
Mortgage Bankers Association - 11/19/2024
New home purchase activity picked up in October even as stronger economic data and election uncertainty pushed mortgage rates higher over the course of the month.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 11/20/2024
Mortgage applications increased 1.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending November 15, 2024.

Home sales surged in October, just before mortgage rates jumped
CNBC - 11/21/2024
Sales of previously owned homes last month rose 3.4% from September to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association of Realtors.

Weekly Housing Trends View — Data for Week Ending Nov. 16, 2024
Realtor.com - 11/21/2024
This past week brought a bit of relief for prospective homebuyers as Freddie Mac rate for a 30-year mortgage dipped slightly. However, the housing market is still adjusting to potential economic shifts of the presidential election.

Refinancing fuels mortgage lending growth despite challenges
Mortgage Professional America - 11/21/2024
ATTOM’s latest Mortgage Origination Report showed a 1.9% quarterly increase in lending, marking the second consecutive quarterly gain – a pattern not seen since early 2021.

Homes With Low Natural Disaster Risk Are Rising in Value Faster Than Homes With High Risk for the First Time in Over a Decade
Redfin - 11/20/2024
This year marked the first time since 2010 that low-risk homes across three major climate categories — heat, fire and flood — gained value faster than high-risk homes.

How Housing Affordability Has Dropped Over 5 Years: 5 Metros Where Less Than 30% of Households Can Afford a Home
Realtor.com - 11/20/2024
Based on the rule that individuals should spend no more than a third of their income on housing, Realtor.com research has found that Los Angeles, Oxnard, San Diego and San Jose in California and New York City have been hit hardest.

Mortgage Credit Availability Increased in October
Mortgage Bankers Association - 11/15/2024
Mortgage credit availability increased to its highest level since April 2023, driven by gains across all loan categories. However, overall credit supply remains tight, with the index still near the very low levels of 2011-2013.

Existing Home Sales Post Biggest Increase in Nearly Three Years
Redfin - 11/15/2024
Existing home sales rose 1.6% month over month in October — the biggest gain since January 2022 — to a seasonally adjusted annual rate of 4,179,346. That’s according to a new report from Redfin.

With Election in The Rearview, Buyer Demand Emerges
National Mortgage Professional - 11/15/2024
Redfin saw its Homebuyer Demand Index jump more than 15% between November 7-11 to its highest level in a year-and-a-half, indicating more people were touring homes and researching for-sale listings online.