Episodes

  • US Housing Market Slows as Mortgage Rates Remain High and Buyer Demand Weakens

    US Housing Market Slows as Mortgage Rates Remain High and Buyer Demand Weakens
    Oct 16 2026
    As of October 16, 2026, the US housing market is losing momentum as borrowing costs remain near a three year high. The average 30 year mortgage rate held at 7.4 percent this week, compared with 6.27 percent a year ago, while mortgage applications were 16 percent below last years level.[1][3] Demand is weakening faster than supply is improving. Redfin reported that pending home sales rose 1.5 percent in the latest week, but remained near record lows and were down 12.7 percent year over year. Active listings increased 0.8 percent, reaching about 1.5 million homes, while new listings rose only 0.4 percent.[2] Prices are beginning to reflect the imbalance. The median asking price fell 0.3 percent from a year earlier, the first annual decline since March. The median sale price increased only 0.5 percent, its slowest growth since March. Sellers are responding with concessions and reductions, with 22 percent cutting asking prices, up from 20.9 percent a year earlier.[2] Consumer behavior is shifting toward delay, cash purchases, and alternative financing. Home visits were down 20 percent in September from a year earlier, while cash buyers represented 27 percent of sales. Adjustable rate mortgages reached 10.5 percent of applications, the highest share in a year, as buyers seek lower initial payments.[3] Builders are also adapting. D.R. Horton agreed to work with Promise Robotics to produce more than 1,250 homes in the Phoenix area using factory made timber panels. The partnership targets labor shortages, construction costs, and the need to increase output.[5] Compared with earlier reporting, the market has moved from a supply constrained recovery toward a demand constrained slowdown. Inventory is closer to normal, but high rates, expensive homes, and economic uncertainty are keeping buyers away. Unless financing costs fall, sellers and builders will likely rely increasingly on price cuts, incentives, automation, and adjustable loans to preserve activity. For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins
  • US Housing Market Weakens as Mortgage Rates Hit 3 Year High in October 2024

    US Housing Market Weakens as Mortgage Rates Hit 3 Year High in October 2024
    Oct 15 2026
    The US housing market has weakened sharply in the past 48 hours as borrowing costs reach their highest level in nearly three years. The average 30 year mortgage rate held near 7.5 percent in the week ending October 9, while purchase mortgage applications fell 4 percent for a sixth consecutive week and were down 16 percent from a year earlier.[5][10] The latest data show a market increasingly divided between cautious buyers and sellers who are becoming more flexible. Existing home sales rose 1.5 percent in September to an annual rate of 3.99 million, but remained 2.2 percent below last year. Because many September closings reflected contracts signed before the latest rate surge, analysts expect fourth quarter sales to weaken further.[2][3] Demand is deteriorating faster than prices. Redfin reported that pending sales dropped 4 percent in September to their lowest level since 2014, excluding the pandemic shutdown. A record 14.5 percent of signed deals were canceled, while nearly one fifth of active listings had their asking prices reduced.[1] Inventory rose to about 1.16 million homes, 5 percent above a year earlier and the highest level since March 2020.[6] Builders are responding with incentives rather than broad price cuts. About two thirds reported offering incentives in September, including mortgage rate buydowns and upgrades. Lennar has acknowledged accepting lower margins to preserve sales volume.[8] These concessions are helping maintain activity in new homes, but they also signal that affordability has become the industry’s central challenge. Consumer behavior is shifting toward delay, negotiation, and alternative financing. Adjustable rate mortgages represented about 10 percent of applications, while many potential buyers are waiting for rates to fall. Inflation of 3.7 percent in September and higher Treasury yields are adding pressure to mortgage costs.[7] Compared with earlier reports showing tentative stabilization, current evidence points to a renewed slowdown. Transaction volumes are falling, supply is improving modestly, and price pressure is spreading, but widespread forced selling remains limited because many existing borrowers still hold mortgages below 5 percent.[4] For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins
  • US Housing Market Faces Affordability Crisis Despite Rising Inventory and Record Prices

    US Housing Market Faces Affordability Crisis Despite Rising Inventory and Record Prices
    Oct 14 2026
    The US housing market remains active but constrained. Existing home sales rose 1.5 percent in September to an annual rate of 3.99 million, slightly above forecasts, yet sales were down 2.2 percent from a year earlier and remain well below the historical norm of about 5.2 million annually.[1][10] Affordability is still the central challenge. The average 30 year mortgage rate reached 7.4 percent last week, up from 7.28 percent the previous week and the highest level since November 2023.[6][10] The median existing home price increased 1.3 percent from a year earlier to 417500 dollars, marking the highest September level on record and the 39th consecutive month of annual price growth.[1][6] Supply is improving gradually. Inventory reached 1.6 million homes, up 1.9 percent from August and 4.6 percent from a year earlier, providing buyers with more choice and pushing median time on market to 33 days from 31.[9][10] However, the additional supply has not yet produced meaningful affordability gains because borrowing costs and prices remain elevated. Consumer behavior is shifting toward selective purchasing. First time buyers represented 31 percent of transactions, up from 30 percent in August, while investor and second home purchases rose sharply to 20 percent from 15 percent.[10] Pending sales fell 4 percent in September, the largest monthly decline in more than three years, suggesting weaker demand ahead.[7] Regional conditions are diverging. Prices rose 4.7 percent in the Northeast and 3.1 percent in the Midwest, while the South gained only 0.2 percent and the West declined 0.3 percent.[7] Luxury activity was stronger, with sales above one million dollars increasing 4.1 percent year over year.[6] Policy discussions are increasingly focused on supply. Housing and Urban Development Secretary Scott Turner estimates the country needs five to seven million additional homes and is promoting regulatory streamlining and lower construction barriers.[8] The administration is also targeting construction costs and considering the effect of corporate single family purchases. From January 2027, FHA underwriting will accept VantageScore 4.0 and FICO Score 10T, potentially broadening mortgage access.[8] Overall, the market has gained inventory but lost momentum. Unless mortgage rates decline or supply expands faster, high financing costs will continue limiting transactions through the remainder of the year. For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins
  • US Housing Market Loses Momentum as Mortgage Rates Climb to 7.4 Percent

    US Housing Market Loses Momentum as Mortgage Rates Climb to 7.4 Percent
    Oct 13 2026
    As of October 13, the US housing market is losing momentum as mortgage rates return to levels last seen nearly three years ago. Freddie Mac reported that the average 30 year fixed rate reached 7.40 percent for the week ending October 8, up from 6.66 percent at the end of August and about 6.3 percent a year earlier.[2][3] The immediate effect is weaker demand. Redfin data showed pending home sales fell 4 percent in September, the sharpest monthly decline in more than three years and the lowest level since 2014.[1][3] Mortgage applications also declined for a fifth consecutive week, while first time buyer loan demand dropped 22 percent year over year in September.[6][8] Supply is moving in the opposite direction. Homes available for sale reached their highest level since March 2020, as more listings arrive than buyers can absorb.[3][9] In the Mid Atlantic region, active listings were up 18.5 percent from a year earlier, while new pending contracts fell 13.5 percent and home tours declined 12.6 percent.[4] This growing imbalance is forcing sellers to adjust: roughly one in five reduced asking prices last month, and the national median sale price rose only 1.3 percent year over year to 393895 dollars, the slowest increase since February.[1][5] Consumer behavior is becoming more defensive. Discretionary shoppers are leaving the market, while committed buyers are delaying purchases or negotiating harder. The national contract cancellation rate reached 14.5 percent, the highest recorded by Redfin.[3] Seattle illustrates the pressure, with pending sales down 24.4 percent year over year and median prices down 4.4 percent.[3] Compared with recent reporting, the market has shifted from gradual cooling to a stalled autumn. Builders, lenders, and brokers are likely to rely more heavily on price reductions, rate buydowns, and concessions, but current data indicate that elevated borrowing costs remain the dominant constraint. The near term outlook is weak transactions, rising inventory, and limited price growth rather than a broad nationwide collapse. For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins
  • US Housing Market Faces Headwinds: Mortgage Rates Hit 7.4 Percent in October 2026

    US Housing Market Faces Headwinds: Mortgage Rates Hit 7.4 Percent in October 2026
    Oct 12 2026
    As of October 12, 2026, the US housing industry is weakening under renewed interest rate pressure. Freddie Mac reports that the average 30 year mortgage rate reached 7.40 percent on October 8, up from 7.28 percent the previous week and the highest level since November 2023. Mortgage applications fell 4.2 percent in the week ending October 2, marking a fifth consecutive weekly decline. Applications to buy homes were down 15 percent from a year earlier. Demand is weakening, but prices remain elevated. Existing home sales fell 2 percent in August to an annual rate of 3.98 million, while inventory rose to 1.62 million homes. Despite greater supply, the median existing home price increased 1.6 percent year over year to 429100 dollars. Zillow estimates that September pending sales dropped 8.5 percent from a year earlier, while typical rents rose 2.7 percent to 1932 dollars. The market is shifting toward an early winter pattern. Buyers are delaying purchases as monthly payments rise, while sellers increasingly use price reductions and concessions. Zillow says a typical mortgage payment is 6.7 percent higher than a year ago even though home values increased only about 1 percent. Industry leaders are responding selectively. Homebuilders are relying more heavily on mortgage rate buydowns and incentives to preserve sales, although these measures pressure profit margins. Investor confidence is also changing. Berkshire Hathaway reportedly purchased about 2.42 million additional Lennar shares for approximately 193 million dollars, bringing its stake to roughly 12 percent. The immediate outlook is more defensive than expansionary. High Treasury yields, inflation concerns and elevated energy costs are keeping borrowing expensive. Housing supply is improving modestly, but not enough to offset affordability problems. Compared with the previous week, rates, applications and buyer sentiment have all deteriorated, leaving the industry dependent on lower financing costs or substantially larger seller incentives. For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins
  • US Housing Market Faces Affordability Freeze as Mortgage Rates Hit 7.4 Percent in October 2026

    US Housing Market Faces Affordability Freeze as Mortgage Rates Hit 7.4 Percent in October 2026
    Oct 9 2026
    As of October 9, 2026, the US housing market is entering a deeper affordability freeze. Freddie Mac reports that the average 30 year mortgage rate reached 7.40 percent this week, up from 7.28 percent last week and marking the seventh consecutive weekly increase. The rate is the highest since November 2023 and compares with 6.30 percent a year ago. Borrowing costs are already weakening demand. Mortgage applications fell 4.2 percent in the week ending October 2, the fifth consecutive weekly decline, while application volume is nearly 50 percent below January levels. Existing home sales also remain historically weak, falling 2 percent in August to an annualized 3.98 million homes, close to a 30 year low. Prices have not adjusted enough to restore affordability. The Federal Housing Finance Agency reported that home prices rose 0.3 percent in July, while the Case Shiller national index increased 1.9 percent from a year earlier. Inventory is improving modestly, with active listings up 2.5 percent year over year, but many owners remain unwilling to sell because they are locked into much cheaper mortgages. That is limiting supply even as potential buyers retreat. The market is shifting from a sellers market toward stagnation rather than a broad crash. Buyers are delaying purchases, refinancing is unattractive, and affordability is being squeezed by both elevated prices and higher monthly payments. Regional conditions differ sharply, with the Middle Atlantic posting a 1.5 percent monthly price increase in July while Mountain region prices declined 0.8 percent. Industry responses increasingly focus on financing and innovation. eXp Realty and Newrez announced Revenos Mortgage, a joint venture expected to launch in early 2027, combining brokerage distribution with mortgage lending. Separately, the Housing Innovation Alliance and HUD announced a ten year design build challenge involving builders, manufacturers, universities, and municipalities. The initiatives signal that companies are pursuing integrated financing, construction efficiency, and new housing technology while high rates and limited supply continue to constrain the market. For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins
  • US Housing Market Faces Headwinds as Mortgage Rates Climb to 7.49 Percent

    US Housing Market Faces Headwinds as Mortgage Rates Climb to 7.49 Percent
    Oct 8 2026
    As of October 8, 2026, the US housing market is weakening as borrowing costs climb. The Mortgage Bankers Association says the average 30 year mortgage rate reached 7.49 percent for the week ending October 2, up from 7.30 percent the prior week and the highest since November 2023. Mortgage applications fell 4.2 percent weekly to their lowest level since February 2025, while refinancing volume was 56 percent below last year. Higher rates are shifting leverage toward buyers. Redfin reports that 21 percent of sellers cut asking prices during the four weeks ending September 20, up from 19.8 percent a year earlier and the highest share for that period since records began in 2022. Denver led major markets, with price reductions affecting 30.9 percent of listings. Prices are no longer rising strongly. The Zillow Home Value Index fell 0.5 percent in September, although typical values remained 1 percent above last year at about 366,913 dollars. September inventory reached 1.39 million homes, 2.5 percent above a year earlier, while new listings rose only 0.4 percent annually. This combination indicates that supply is improving, but demand remains constrained by affordability. Builders are responding with incentives, including mortgage rate buydowns and discounts, rather than relying solely on price reductions. Adjustable rate mortgages are also gaining attention, representing 10.3 percent of applications last week. Multifamily construction remains pressured by high financing and operating costs, weak rent growth, and slower permitting. The immediate outlook is more cautious than recent reporting. Rising Treasury yields, persistent inflation concerns, and expectations of another Federal Reserve increase are keeping mortgage rates elevated. Housing companies face slower transactions, greater buyer negotiation power, and increasing pressure to protect sales through incentives while carefully managing construction costs and inventory. For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins
  • Housing Market Faces Headwinds in October 2026 as Mortgage Rates Rise Above 7 Percent

    Housing Market Faces Headwinds in October 2026 as Mortgage Rates Rise Above 7 Percent
    Oct 7 2026
    As of October 7, 2026, the US housing market is slowing under renewed interest rate pressure. The average 30 year fixed mortgage rate is 7.534 percent, down slightly from 7.542 percent yesterday but up from 7.373 percent one week ago. The average 15 year rate is 6.722 percent. Mortgage applications fell 6 percent in the week ending September 25, showing that higher borrowing costs are again discouraging buyers. Pending home sales have suffered their sharpest decline since 2023 after September’s rate increase. Existing home sales in August were about 1.2 percent below a year earlier, while the annual sales rate recently fell to 3.98 million, its lowest level since June 2025. Buyers remain constrained by prices and financing costs, while many current owners are reluctant to sell because they hold mortgages below 4 percent. Prices have not yet fallen nationally. Cotality reported single family price growth of 1.8 percent year over year in August, up from 1.6 percent in July, but it expects monthly declines through the winter and only 1.3 percent annual growth for 2026. Affordable Midwest markets and supply constrained Northeastern markets remain stronger. Areas with rising inventories, new construction, weaker employment, or slower population growth face greater downside risk. Builders are responding with mortgage rate buydowns, closing cost assistance, and other incentives rather than broad price cuts. Lennar is under pressure from weaker entry level demand and narrower margins, while Berkshire Hathaway reportedly bought about 190 million dollars of Lennar stock, signaling confidence despite near term difficulties. Supply remains structurally inadequate, even as some local markets accumulate listings. The Census Bureau reported 8.5 months of supply in August. The bipartisan ROAD to Housing Act, passed in July, is intended to reduce costs and expand supply, but its measures do not begin until January 2027. For now, expensive credit, limited affordability, and cautious consumers define the industry. For great deals today, check out https://amzn.to/44ci4hQ
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    3 mins