The 30-year fixed mortgage rate ticked up to 2.99% from 2.95% the previous week. Expect mortgage rates to increase modestly in the following months as the economy continues to recover, with the 30-year fixed mortgage rate to average 3.20% in 2021.
NAR Chief Economist Lawrence Yun shares his thoughts on what's happening in vacation home sales, with rising inflation, and the high number of recent all-cash home sales in the latest data.
Secondary cities are seeing a modest increase in office occupancy in the first quarter of 2021 because they offer less expensive office rent compared to nearby major markets.
Brandi Snowden, lead author of the report, provides perspectives on how to use the report, insights into the data, and the results she found to be most interesting.
The 30-year fixed rate mortgage fell to 2.95% from 3.00% the previous week, following the trend of the 10-year Treasury yield.
Brandon Hardin talks about the NAR report and provide insights into the data, perspectives on how members can use the report, and the results he found to be most interesting.
Amidst the most competitive spring market in 50 years, the share of all-cash sales to existing-home sales surged to 25% in April 2021 as non-first time buyers are paying all cash to increase the competitiveness of their offers, edging out first-time buyers.
As the economy continues to recover, mortgage rates rose to 3.00% from 2.94% the previous week, and are likely to continue to rise throughout the rest of 2021.
The Census Bureau of the Department of Commerce estimates seasonally adjusted U.S. retail e-commerce sales increased 39% year-over-year in Q1 2021 as consumers received economic impact payments, multiple vaccines came onto the market with increasing distribution, the rate of COVID-19 cases declined, and pandemic-related restrictions eased.
The year-to-date figures in 2021 for housing starts were 1.59 million units (annualized pace) compared to 1.38 million in 2020, a 15% gain.
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