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Articles Filed Under: Trends

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Benchmark Mortgage Rate Drops, But…

Benchmark Mortgage Rate Drops, But…

Buoyed by a slowdown in the pace of inflation, the average rate for a benchmark 30-year mortgage dropped 47 basis points over the past week to 6.61 percent but is facing headwinds as the Fed is expected to continue raising rates over the next couple of quarters, likely by... Read More »

New Home Demand Drops, Average Loan Size Down as Well

New Home Demand Drops, Average Loan Size Down as Well

While the number of new homes on the market across the nation has surpassed a 14-year high, with over 23 percent more inventory than at the same time last year, the number of mortgage loan applications for new homes in the U.S. dropped 13 percent in October and was... Read More »

Purchase Mortgage Activity Down Nearly 50 Percent

While the seasonally adjusted volume of applications to secure a mortgage to purchase a home in the U.S. ticked up 4 percent over the past week, with the benchmark mortgage rate having ticked back under 7 percent, application volume dropped 10 percent in the absolute and was down 46... Read More »

Single-Family Inventory Up in S.F., Reductions as Well

Single-Family Inventory Up in S.F., Reductions as Well

While the net number of homes on the market in San Francisco ticked down 3 percent over the past week with typical seasonality in play, inventory levels are over 30 percent higher than at the same time last year, with over 40 percent more single-family homes on the market... Read More »

Pending Home Sales in San Francisco Down Nearly 50 Percent

Having slipped another percent over the past week, the number of homes in contract to be sold across San Francisco is now 46 percent lower than at the same time last year and pending home sales activity is at its lowest level in over six years on a seasonally... Read More »

Benchmark Mortgage Rate Ticks Back Over 7 Percent

Benchmark Mortgage Rate Ticks Back Over 7 Percent

While the average rate for a benchmark 30-year mortgage had slipped back under 7 percent last week, said average had been compiled prior to last week’s rate hike by the Fed. And while the majority of the latest rate hike appeared to have been priced-in to last week’s rates,... Read More »

S.F.’s Housing Pipeline Slips, but Still Building Above Average

S.F.’s Housing Pipeline Slips, but Still Building Above Average

Having hit a record high in the first quarter of this year, the total number of units in San Francisco’s housing pipeline, including affordable units that are slated to be rebuilt, slipped back under 80,000 in the second quarter of 2022, driven by a 22 percent drop in the... Read More »

Price per Square Foot Keeps Dropping in San Francisco

While the net number of homes on the market in San Francisco (i.e., inventory or supply) ticked down 5 percent over the past week with typical seasonality in play, there are still 22 percent more homes on the market than there were at the same time last year and... Read More »

Benchmark Mortgage Rate Slipped Under 7 Percent, But…

Benchmark Mortgage Rate Slipped Under 7 Percent, But…

The average rate for a benchmark 30-year mortgage ticked down 13 basis points over the past week to 6.95 percent, slipping back under 7 percent but still 125 percent higher than at the same time last year, over 160 percent higher than last year’s all-time low, and below its... Read More »

Refinancing Still Represents a Third of New Mortgage Activity

Having inched down another half a percent over the past week, mortgage loan application volume in the U.S. is holding at a 25-year low, with applications to refinance down 85 percent on a year-over-year basis and purchase mortgage activity down 41 percent to a 7-year low, according to data... Read More »