“The mortgage market saw a strong start to 2020. Low rates and the solid job market continue to encourage prospective buyers to enter the market.”
The average U.S. fixed rate for 30-year mortgage falls to 3.64%
“The mortgage market saw a strong start to 2020. Applications increased across the board, and the 30-year fixed mortgage rate hit its lowest level since September 2019,” said Joel Kan, Associate Vice President of Economic and Industry Forecasting. “Refinances increased for both conventional and government loans, as lower rates provided a larger incentive for borrowers to act. It remains to be seen if this strong refinancing pace is sustainable, but even with the robust activity the last two weeks, the level is still below what occurred last fall.”
Home prices in November 2019 climbed by 3.7% from previous year
In November, home prices climbed by 3.7% from the previous year, according to CoreLogic’s latest Home Price Forecast.
The CoreLogic HPI projects future home price growth based on several economic variables and measures the number of owner-occupied households in each state.
According to CoreLogic’s data, home prices increased by 0.5% from October and are now projected to increase by 5.3% come November 2020.
On average, Americans pay $123 per square foot for a house, but that varies widely based on where you’re looking to buy—a point made vividly clear in this choice sampling of cities with America’s highest price per square foot (clocking in at over $1,000!), the lowest (a mere $42), and a few gems in the middle both in terms of price and geography.
Clarida pledges the Fed will be “nimble” if course correction needed
‘Don’t fall for the scare tactics some people use with any one-time event’
App will be launching in the coming months
According to the company, the search experience is powered by data feeds resulting from Keller Williams’ acquisition of Smarter Agent, announced in September 2018.
The redesign also foreshadows an experience that consumers can expect in the upcoming consumer-app update happening in early 2020.
Keller Williams Vice President of Industry, Jason Abrams, said that the difference in the search is that it is neighborhood-centric.
The housing market heated up after the Fed turned dovish in 2019, and in 2020 the momentum is poised to continue, according to analysts. Among the key housing market predictions for 2020: While house prices are expected to flatten, a mixture of economic growth, high employment and low interest rates should drive demand.
Pastel kitchens; Jewel-toned sofas; Baskets on the wall and more…
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