Redfin Reports Rising Home Prices, Economic Volatility Curb Would-Be Buyers’ Appetites in Leadup to Thanksgiving
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
U.S. home prices are increasing and mortgage rates ticked up last week after dipping to their lowest level in a year. Rising costs and widespread financial uncertainty are causing house hunters to retreat. SEATTLE--(BUSINESS WIRE)--U.S. pending home sales declined 2.1% year over year during the four weeks ending November 23, the biggest decline in eight months, according to the latest data from Redfin, the real estate brokerage powered by Rocket. Redfin’s analysis is condensed this week due to the Thanksgiving holiday.Leading indicatorsIndicators of homebuying demand and activity Value (if applicable)Recent changeYear-over-year changeSourceDaily average 30-year fixed mortgage rate6.2% (Nov. 25)Up slightly from 6.13% two weeks earlierDown from 7.02%Mortgage News DailyWeekly average 30-year fixed mortgage rate6.23% (week ending Nov. 26)Near lowest level in a yearDown from 6.84%Freddie MacMortgage-purchase applications (seasonally adjusted) Up 8% from a week earlier (as of week ending
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News
- Rocket Companies' Dan Gilbert on housing affordability: The only thing that solves it is supply [CNBC]CNBC
- Redfin Reports Investor Activity Is Muted, With Home Purchases Up 1% and Market Share Holding SteadyBusiness Wire
- Inside Detroit's newest building: Dan Gilbert on rebuilding Hudson's Detroit [CNBC]CNBC
- A new era in Detroit: Rocket Companies' Dan Gilbert on his road to recovery, reinvesting in the city [CNBC]CNBC
- Starter-Home Sales Climb 5%, But Prices Are Staying in Check as Inventory Hits 9-Year HighBusiness Wire
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