With summer fading into fall, there are several key factors to watch that could impact the housing industry insofar as economic data, the Federal Reserve meeting, along with overall housing market activity.
Treasury yields have pushed higher from recent lows with the 10-year yield rising to 4.32% and mortgage bond prices dip slightly but the housing market has shown some resilience. July housing starts surged 5.2% to 1.428 million, exceeding expectations, signaling solid builder confidence despite a 2.8% decline in building permits. Another positive point shows that housing inventories were up 8.0% year-over-year in July.
The Takeaway: As fall unfolds, homebuyers and builders can find optimism in rising inventory and potential mortgage rate relief from a likely Federal Reserve rate cut. With inventory up 8.0% and strong housing starts signaling construction momentum, opportunities for securing homes may improve, though high prices and economic uncertainties warrant cautious optimism.
Source: Mortgage Market Guide
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