The Fed Cut Rates, Now What?
30 Second Market Update
September 23, 2024
Last week the Federal Reserve released their new policy statement, and they mentioned that they cut the Federal Funds Rate by 50 basis points or 0.5%. What does this mean [...]
Home Equity Increasing
30 Second Market Update
September 16, 2024
CoreLogic released their Home Equity report, and it showed that people who own homes with mortgages, which is 62% of all homes, gained $1.3 trillion in equity, or 8%, from [...]
Nationwide Surge in Home Mortgage Lending Marks Broad Recovery in Second Quarter of 2024
30 Second Market Update
September 09, 2024
In the second quarter of 2024, U.S. home mortgage lending rebounded significantly, with a 23.2% quarterly increase, totaling 1.62 million mortgages. This growth brought lending levels close to those seen [...]
Good News For First-Time Homebuyers
30 Second Market Update
September 02, 2024
According to a recent analysis from Redfin, starter homes are a bright spot in the housing market as mortgage rates settle near a 15-month low. In July, pending sales for [...]
US Job Growth Far Weaker Than Originally Reported
30 Second Market Update
August 26, 2024
Preliminary annual benchmark review of employment data from the Bureau of Labor Statistics (BLS) reveals that U.S. job growth over the past year was much weaker than initially reported, with [...]
Mortgage Applications Surge By 16.8%
30 Second Market Update
August 19, 2024
In the week ending August 9, 2024, mortgage applications surged by 16.8% from the previous week, according to the Mortgage Bankers Association (MBA). This increase was driven by a 35% [...]
Tappable Equity Reaches Record High
30 Second Market Update
August 12, 2024
The latest ICE Mortgage Monitor report reveals that tappable home equity in the US has soared to an unprecedented $11.5 trillion, with 60% of mortgage holders having at least $100,000 [...]
Home Price Update: Why Waiting Could Cost You
30 Second Market Update
August 05, 2024
The Case Shiller Home Price Index, the top standard for measuring home values, showed a 0.3% rise in home prices for May, hitting a new record high. Without seasonal adjustments, [...]
Home Sales Drop, But There’s Hope Ahead
30 Second Market Update
July 29, 2024
Home sales dropped 5.4% in June, more than the expected 3%. This is a 5.4% decrease from last year. The report likely reflects home shopping in April and May when [...]
Lower Rates Could Support a Refinance Rally
30 Second Market Update
July 22, 2024
Analysts at the Investment banking company Jefferies, predict that upcoming Federal Reserve rate cuts could trigger a significant refinance rally, unlocking $2.7 trillion in refinancing opportunities. They foresee mortgage rates [...]
National Home Prices Keep Going Up!
30 Second Market Update
July 01, 2024
The Case Shiller Home Price Index, a trusted measure for home value changes, showed that prices went up by 0.3% in April, hitting a new record high! This number is [...]
Rents and Mortgage Rates
30 Second Market Update
June 24, 2024
CoreLogic released their Rental Report for the month of April, showing that rents were up 3% year over year, down from 3.4% in the previous monthly report. St. Louis led [...]
