According to Fannie Mae’s latest Home Price Index (FNM-HPI) reading, single-family home prices increased by 6.9% from Q2 2023 to Q2 2024, with the pace of growth slowing due to rising mortgage rates and increased home availability.
The Black Knight Mortgage Monitor for November 2023 shows rising mortgage rates and home prices have increased the principal and interest payment (P&I) for a median-priced home to more than $2,500 for the first time.
his week’s Hot Sheet recap includes updates on active housing inventory, mortgage demand, the Fed’s meeting minutes, and other industry news covered by Byron Lazine for the week of July 3rd-7th.
This week’s Hot Sheet recap includes updates on the debt deal vote, along with every segment Byron Lazine covered the week of May 30th-June 2nd.
The Hot Sheet recap for April 17th – 21st covers what the new FHFA mortgage rule is really about, markets that are booming vs. those that are cooling, housing inventory and mortgage demand.
With the SVB collapse taking place a week ago, mortgage rates dropped from a four-month high of 7% to around 6.5% for 30-year fixed rates. With lower rates, mortgage demand increased 6.5% week-over-week.
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