After reaching a 3-year high just 90 days ago, the National Association of Homebuilders’ Housing Market Index is now at a multi-year low after falling by almost half.
Tag Archive | "NAHB"
Mortgage rates are artificially right now so even the slightest jolt could cause them to spike. It would be similar to what happened in June 2009 when rates rose 1.125% in just 10 days’ time. Therefore, if you’re shopping for a mortgage and like the rate you’ve been quoted, consider locking in as soon as possible.
At the current sales pace, the nation’s complete supply of new homes would be sold in just 5 month’s time. That’s more than double the pace of a year ago.
With home prices still relatively low and mortgage rates trolling near their all-time best levels, home affordability is extraordinarily high in most U.S. markets.
