"December 8, 2024" Archives

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Home equity gains slowed in Q3. Are prices stabilizing?

U.S. mortgage holders experienced a home equity increase in the third quarter of 2024 — up 2.5% year over year to a total of $17.5 trillion nationwide. But that was down from 8% growth in the second quarter, and negative equity also ramped up for the first time in two years, according to a CoreLogic…

Housing demand still showing double-digit growth

Last week, we witnessed a Santa Claus rally in mortgage rates alongside improved housing demand. The economy continues to create jobs, with wages growing at an annual rate of 4%. We also see growth in our pending contract data compared to 2022 and 2023. Additionally, the purchase application data delivered another pleasant surprise with positive…