Foot traffic and future home sales have a strong correlation. SentriLock, LLC. provides NAR Research with monthly data on the number of showings. Foot traffic in the area covered by the Marshalltown Board of REALTORS® (IA) rose 2% over the 12-month … [Read more...]
Reflecting on the 30-year Fixed Rate Mortgage
The sharp rise in mortgage rates from May to July of this year presents an opportunity to reflect on the merits of one pillar of the US mortgage finance system; the 30-year fixed rate mortgage. The 30-year FRM has many positive and a few negative … [Read more...]
Government Revenue and the Economy
What happens to government revenue and the economy if the mortgage interest or property tax deductions are eliminated? A new, independent research study weighs in… Two new case studies by the Tax Foundation, a non-partisan tax research group based in … [Read more...]
Charts from Today’s Pending Home Sales Release
After reaching the highest level in over six years, pending home sales declined in June, with rising mortgage interest rates beginning to impact the market. The Pending Home Sales Index, a forward-looking indicator based on contract signings, edged … [Read more...]
REALTOR® Confidence in Current Market Conditions Held Steady
REALTORS® generally continued to view current conditions in the single–family home market as “strong” with the Index-Current Conditions [1] holding steady at 71 in June. A level of 50 delineates “moderate” conditions. The Index for townhouses was … [Read more...]
Latest Monthly Housing Affordability Index
At the national level, housing affordability is down due to higher home prices even though mortgage rates have come down. What is affordability like in your market? Housing affordability is down for the month of May in the US as prices reach their … [Read more...]
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