Posted To: Mortgage Rate Watch

The National Association of Realtors’ Existing Home Sales report is the broadest measure of housing market activity. It just hit a 14-year record for the 3rd month in a row. It’s not just existing homes. The new home market is crushing it as well. This week’s data on Housing Starts (the ground-breaking phase of new construction) showed another solid step back toward the boomy levels of late 2019. Builders may not be breaking ground as fast as they were a year ago (before covid), but that has everything to do with covid and nothing to do with demand. This week’s record result for builder confidence reflects that. To top it all off, this week brought another round of news articles proclaiming “all-time low” mortgage rates. But are they really? For some borrowers in some scenarios, yes. But in…(read more)

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Source: Mortgage News Daily