Weekly Housing Headlines

This week, mortgage applications decreased 3.7%; new listings increased 8% year over year during the four weeks ending December 29; credit availability increased slightly in December; the Freddie Mac rate for a 30-year mortgage climbed to 6.93%; and home price growth continued to slow in October, growing at a rate of 3.60% year-over-year.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 1/8/2025
Mortgage applications decreased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 3, 2025.

Redfin Reports New Listings Rise 8%, Giving the New Year’s Buyers More Homes to Choose From
Redfin - 1/3/2025
New listings increased 8% year over year during the four weeks ending December 29, while the total number of homes for sale rose 10%, according to a new report from Redfin.

Mortgage Credit Availability Increased in December
Mortgage Bankers Association - 1/9/2025
Credit availability increased slightly in December, driven by more offerings for ARMs and cash out refinances that are primarily for borrowers with better credit.

Mortgage Rates Climb Ahead of Friday’s Jobs Report
Realtor.com - 1/9/2025
The Freddie Mac rate for a 30-year mortgage climbed to 6.93% this week as the 10-year Treasury surged higher and the market prepared for Friday’s employment report.

U.S. Home Price Insights –  January 2025
CoreLogic - 1/7/2025
The CoreLogic HPI Forecast indicates that home prices will drop by -0.2% from November 2024 to December 2024 and increase by 3.8% on a year-over-year basis from November 2024 to November 2025.

Home Purchase Sentiment Drops in December amid Rising Mortgage Rates
Realtor.com - 1/7/2025
In December the Fannie Mae Home Purchase Sentiment Index decreased for the first time after four months of improvement.

More Than One-Third of Homeowners Say They’ll Never Sell
Redfin - 1/7/2025
More than one-third (34%) of U.S. homeowners say they’ll never sell their home, according to a recent Redfin-commissioned survey.

Americans Fled To Low-Tax States Again in 2024
Financial Advisor - 1/8/2025
High taxes inspired more Americans to move in 2024, with many opting for low-tax states while exiting those with some of the highest state income and property taxes, according to the Tax Foundation.

Home Prices Continue to Slow in October
Eye On Housing - 1/3/2025
Home price growth continued to slow in October, growing at a rate of 3.60% year-over-year, according to the S&P CoreLogic Case-Shiller Home Price Index.

U.S. home prices rise for second month - ICE
Mortgage Professional America - 1/6/2025
Annual home price growth ticked higher for the second consecutive month in November, increasing to +3.33% from +3.13% the month prior, with the Northeast and Midwest continuing to lead all regions.