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A look at new home construction

Despite the hotter temperatures this week there is one thing that is cooling off this summer and that is new home construction unfortunately. Housing Starts dropped 6% month-over-month in May to 1,277,000 units which was both below expectations and the lowest figure seen in 4 years. Building Permits for future construction also declined month over […]

Home appreciation year over year

I wanted to take a break from the typical mortgage rate breakdown to show you a chart that really stuck out to me today. The chart shows U.S. house prices rose 6.6 percent between the first quarter of 2023 and the first quarter of 2024, according to the Federal Housing Finance Agency (FHFA) House Price […]

Jobs report to the rescue

Last report I mentioned that the only hope for lower interest rates is a weaking labor market. On Friday we got the results we were looking for. It wasn’t a bad number by any means, there were 175,000 jobs created which was much lower than the expected 240,000. The unemployment rate ticked up to 3.9% […]