Purchase Mortgage Activity Drops
Despite some misreports of a “market rebound” last week, purchase mortgage application volume in the U.S. dropped another 6 percent in the absolute, representing a 10 percent drop on a…
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Despite some misreports of a “market rebound” last week, purchase mortgage application volume in the U.S. dropped another 6 percent in the absolute, representing a 10 percent drop on a…
As we projected, the net number of condos and single-family homes listed for sale in San Francisco (i.e., inventory) continues to climb, having ticked up another 7 percent over the…
As we outlined last week, prior to a market shock that appears to have caught some by surprise, the expected value of the Fed’s interest rate cuts this year was…
Having dropped back down to its lowest level in over a decade at the end of last year, mortgage credit availability inched up 0.7 percent last month, with a 1.9…
In a move that shouldn’t catch any plugged-in readers by surprise, the probability of a rate cut this quarter, based on movements in the futures market, has dropped to under…
With the probability of a rate cut this quarter having dropped, the average rate for a benchmark 30-year mortgage has inched back up to 6.69 percent. At the same time,…
Having dropped to a seven-year low in the absolute earlier this month, despite the average 30-year mortgage rate having dropped a full point, the number of homes in contract to…
Having inched up from 6.61 to 6.66 percent over the past two weeks, the average rate for a benchmark 30-year mortgage has since inched back down to 6.60 percent, which…
As we noted this past October, at which point there was “only” 26 million square feet of vacant space spread across San Francisco, there was “another 2 million square feet…
Despite a drop in the benchmark 30-year mortgage rate to only 6.61 percent, the decline of which has since leveled off, mortgage credit availability dropped 4.6 percent in December, with…