Housing Market Sales - Existing home sales decreased by 2.7% month-over-month to a seasonally adjusted annualized rate of 3.93 million units [1] - The market experienced a miss in sales, with expectations being for essentially flat sales year-over-year [1] - Sales data reflects contracts likely signed in April and May when the average on the 30-year fixed mortgage rate exceeded 7% [1] Housing Supply and Demand - The number of units for sale at the end of June was 1.53 million, up 15.9% from June of the previous year [2] - The month's supply is at 4.7 months, still considered lean compared to the balanced level of 6 months [2] Home Prices and Market Dynamics - The median price of a home sold in June was $435,300, a 2% increase year-over-year, marking the 24th consecutive month of annual increases [2] - Homes are staying on the market longer, averaging 27 days compared to 22 days last June [2] - First-time buyers represent 30% of sales, lower than the historical average of 40% [3] - All-cash sales remain elevated at 29% of total sales [3] - Sales are strongest in the higher end of the market, a shift from the spring when this segment was affected by stock market volatility [3] Potential Policy Impact - A potential cut in capital gains on home sales, as suggested by the president, is estimated to affect 15% of current homeowners, primarily at the highest end of the market [4]

Okay, there are a lot of caveats associated with this and of course we don't know a lot of the details but still if we are to think about things that can facilitate transaction in this market. It does seem like the administration is committed on some level to make the housing market better to get people out of their, you know, 3% mortgage rates and and get some deals done. If you can't do it on the rate front, you're going to do it some somewhere else.So that's listen, the PY report was fine. I think I don' ...

Group 1 - PulteGroup, Inc. (NYSE: PHM) has underperformed over the past year, with a loss of approximately 7% in value due to a softening housing market impacted by high mortgage rates [1] - Investors received positive news recently, providing relief amidst the challenging market conditions [1]

After a five-week decline, mortgage rates have now climbed for three straight weeks. But that doesn't necessarily mean you should hit pause on your house hunt. https://t.co/1gmwfiWUCD ...

Mortgage Refinance Rates - The report highlights an interactive map to find today's average 30-year mortgage refinance rate for any U.S state [1] - The lowest mortgage refinance rates are currently in New York, California, and North Carolina [1]

Lower mortgage rates may motivate more people to buy houses, but it will take a bigger drop in borrowing costs to create more home sellers and lead to lower home prices, economists said. https://t.co/nApSsB9Gn3 ...

Mortgage rates in the US climbed for a second straight week https://t.co/v1oP7ubc3C ...

Home-building companies now commonly reduce borrowers’ mortgage rates on new homes by kicking in some of the financing, but one byproduct of those efforts is that they’ve kept home prices elevated, according to Morgan Stanley https://t.co/1iQRJsJofX ...

Market Trends - US mortgage rates increased for the first time in six weeks [1]

Applications for mortgages increased 9.4% for the week ending July 4, as rates on home loans fell to 6.77%. https://t.co/PWaMYwLqze ...