Pending US home sales on the up

Date:

Share post:


“Meaningful gains will only occur with declining mortgage rates and rising inventory,” he said in comments accompanying NAR’s release.

The uptick arrived despite a further increase in the contract rate on a 30-year fixed mortgage last week. The Mortgage Bankers Association (MBA) said that rate increased to 7.24% in the week ending April 19, as Freddie Mac chief economist Sam Khater noted purchase demand had remained “steady” in the face of rising rates.

“With rates staying higher for longer, many homebuyers are adjusting,” Khater said, “as evidenced by this week’s report that sales of newly built homes saw the biggest increase since December 2022.”

Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.



LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Why Savoring Might Just Be Your Leadership Superpower

If you’re always sprinting toward what’s next, you’re missing what’s best.

Klarna founder’s VC firm pledges €300 million investment in AI

Swedish impact investor Norrsken VC has pledged to invest €300 million ($348 million) in artificial intelligence startups...

Get Complimentary Marriott Gold Status with Chase Sapphire Reserve

Get Marriott Gold Status with Sapphire Reserve The newly revamped Chase Sapphire Reserve Card is back with a...