Real Estate News
Capital Economics: Expect home prices to increase as mortgage rates dropFor the last two weeks Freddie Mac reported 30-year, fixed-rate mortgages averaging 3.6%, a three-year low. These rates, combined with tight housing inventory will lead to an increase in home prices, Capital Economics said in a report on Monday. The report predicts a 3% rise in prices for 2019.
MBA lowers rate forecast and boosts lending outlookMortgage Bankers Association issued a new forecast that predicts the U.S. rate for a 30-year fixed mortgage will average 3.7% in the third and fourth quarters of 2019, down from the 3.9% the group predicted for the same periods a month ago. Lower mortgage rates will boost loan originations 15%... Read More
July’s home sales ends a nine-month climb of annual inventory growthIn July, home sales grew 2.4%, effectively ending a nine month climb of year-over-year inventory growth, according to the RE/MAX National Housing Report. RE/MAX said the number of homes for sale fell 1.4% from 2018's level and 0.2% from the previous month. RE/MAX CEO Adam Contos said July sales... Read More
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