On today’s Hot Sheet, Byron Lazine discussed the latest housing market trends, highlighting Logan Mohtashami’s Housing Market Tracker data showing year-over-year gains in pending home sales and purchase applications, alongside a seasonal rebound in inventory and new listings.
He also reviewed the U.S. Bureau of Labor Statistics’ May Employment Situation Report, which showed nonfarm payroll employment increased by 172,000 while the unemployment rate remained unchanged at 4.3%.
Finally, Byron examined mortgage rate forecasts reported by ResiClub, with projections from Fannie Mae, Wells Fargo, and the MBA indicating 30-year fixed rates are expected to stay in the low-to-mid 6% range through the end of 2027.
