It's no mystery that 2024 hasn't been a stellar year for home sales and many other housing metrics. Today's release of December's Existing Home Sales from the National Association of Realtors (NAR) confirmed that.   Bad news first: with December in the books, 2024 goes down as the worst year for existing sales since 1995, just barely edging out 2008.3 The good news is that 2024 is over and we ended the year on the upswing in terms of month-to-month and year-over-year momentum. In addition to 3 straight months of improvement and the best sales pace since February, December's annual pace of 4.24m is 9.3% higher than last December and the largest annual increase since June 2021 (to be clear, the 12 months in 2024 added up to the lowest level of any year since 1995, but this month's pace was the best since mid 2021 when compared to the same month from the previous year). “Home sales in the final months of the year showed solid recovery despite elevated mortgage rates,” said NAR Chief Economist Lawrence Yun. “Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months. Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market.” full release...

January 24, 2025 Download our Mobile App: Download our Mobile App: Housing News Existing Home Sales Inch Up to Highest Levels Since February It's no mystery that 2024 hasn't been a stellar year for home sales and many other housing metrics. Today's release of December's Existing Home Sales from the National Association of Realtors (NAR) confirmed that.   Bad news first: with De... (read more) Housing News Highest Purchase Applications in a Year? Technically, Yes The Mortgage Bankers Association's (MBA) weekly mortgage application survey showed a modest decrease in refinance applications and an even more modest increase in purchase applications. At these levels of movement, it's just as fair to say that appli... (read more) MBS Commentary Modest Gains Make For an Uneventful Week Modest Gains Make For an Uneventful Week If bonds had continued to sell off today, it would have made the week slightly more interesting, but even then, we would still be well under the high yields seen last ... (read more) Mortgage Rate Watch Mortgage Rates Back to Their Boring Ways While there were only 4 business days instead of the customary 5, it's been an intensely boring week for mortgage rates.  Tuesday started out right where Friday left off. From there, Thursday brought the only noticeable change with the average l... (read more) Rob Chrisman Non-QM Products; Kickback Scheme Revealed; Lenders Helping LA; Webinars and Training “With oil prices going down, I’ll demand that interest rates drop immediately. And likewise, they should be dropping all over the world. Interest rates should follow us,” President Trump stated. Texas knows a thing or two about oil prices, inflation,... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.11% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.11% -0.01 0.00 15 Yr. Fixed 6.51% -0.01 0.00 30 Yr. FHA 6.54% +0.01 0.00 30 Yr. Jumbo 7.37% 0.00 0.00 7/6 SOFR ARM 6.94% +0.01 0.00 30 Yr. VA 6.55% 0.00 0.00 Updates Daily - Last Update: 1/24 15 Yr. Fixed Rate 6.51% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.96% -0.08 0.00 15 Yr. Fixed 6.16% -0.11 0.00 Updates Weekly - Last Update: 1/23 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.75% 0.00 0.66 15 Yr. Fixed 6.15% 0.00 0.71 30 Yr. Jumbo 6.86% 0.00 0.61 Updates Weekly - Last Update: 12/25 MBS / Treasuries UMBS 30YR 5.5 98.57 +0.10 Price / Yield Change MBS UMBS 5.5 98.57 +0.09 UMBS 6.0 100.53 +0.10 GNMA 5.5 99.09 +0.10 GNMA 6.0 100.68 +0.08 Pricing as of: 1/26 10:38PM EST 10 Year US Treasury 4.5819 -0.0477 Price / Yield Change US Treasury 2 YR Treasury 4.254 -0.018 5 YR Treasury 4.397 -0.025 7 YR Treasury 4.493 -0.041 10 YR Treasury 4.584 -0.045 30 YR Treasury 4.807 -0.040 Pricing as of: 1/26 10:38PM EST Latest Video Fed may still cut three times this year, says Santander's Stephen Stanley January consumer sentiment moves down to 71 in weakest level since October ... Former Kansas City Fed President: Haven't seen movement in inflation that w... Redfin CEO Glenn Kelman on LA fires: Rebuilding these homes will take a lon... Around the Web Axios What to know about Trump's ability to move interest rates Marketwatch Existing-home sales fall to 30-year low in 2024 CNBC Only 28% of Americans who planned to buy a home in 2024 actually didyoung buyers feel 'trapped between a rock and a hard place' Eye on Housing Cost of Constructing a Home in 2024 CNBC Treasury yields dip as investors consider Trumps latest comments Calculated Risk Blog ICE: Mortgage Delinquency Rate Increased 4% Year-over-year in December Calculated Risk Blog 4th Look at Local Housing Markets in December Marketwatch California wildfires boost U.S. jobless claims to six-week high FXStreet US S&P Global Manufacturing PMI rises to 50.1 in January, Services PMI retreats to 52.8 Eye on Housing U.S. Metro Areas in 2023: Real GDP, Construction, and Real Estate Insights Calculated Risk Blog LA Ports: Inbound Traffic Increased Sharply Year-over-year in December CNBC Treasury yields little changed as investors await further economic data Calculated Risk Blog January Vehicle Forecast: Sales Decline to 15.6 million SAAR, Up 4% YoY

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