Mortgage rates fall to lowest level in more than a year. https://t.co/aXyaisSoLP ...

Mortgage rates fell to the lowest level in more than a year, easing affordability concerns for homebuyers. https://t.co/u4JFuZHBkI ...

Home sales picked up last month as lower mortgage rates and higher inventory brought some buyers off the sidelines. Existing home sales rose 1.5% in September to a seasonally adjusted annual rate of 4.06 million, the highest level since February, according to National Association of Realtors data released Thursday. Year over year, they’re up 4.1%. Homes that sold in September usually went under contract a month or two earlier. During that period, mortgage rates dropped from around 6.7% to around 6.3%. Cu ...

Market Trends - US existing home sales experienced a slight increase last month [1] - Lower mortgage rates and moderate price increases stimulated activity in the US housing market [1]

Home sales rose in September to a seven-month high after buyers seized on declining mortgage rates https://t.co/IjozOdIPcr ...

Core Insights - Existing-home sales increased by 1.5% compared to the previous month, reaching the highest rate since February [1] Group 1 - The rise in existing-home sales indicates a positive trend in the housing market [1]

Core Insights - U.S. existing home sales reached a seven-month high in September, increasing by 1.5% to an annual rate of 4.06 million units, the highest since February [1][2] - The increase in home sales is attributed to falling mortgage rates and improving housing affordability, despite rising economic uncertainty and a stalled labor market [2][3] Sales Performance - Home sales rose 4.1% year-over-year, with increases noted in the Northeast, South, and West regions, while the Midwest experienced a decline [2] - The average rate for a 30-year fixed mortgage is at a one-year low of 6.27%, down from 7.04% in January, contributing to the rise in sales [2] Economic Context - A government shutdown has delayed the release of official economic data, including the employment report for September, leading to concerns about muted hiring due to economic uncertainty [3] - The shutdown has also affected real estate transactions, particularly in flood-prone areas where necessary insurance is unavailable [4] Inventory and Pricing - The inventory of existing homes increased by 14.0% year-over-year to 1.550 million units, although it remains below pre-pandemic levels [4] - The median existing home price rose by 2.1% year-over-year to $415,200, with current inventory expected to last 4.6 months at the September sales pace [5] Market Dynamics - Properties stayed on the market for an average of 33 days, up from 28 days a year ago, indicating a slight slowdown in sales velocity [6] - First-time buyers represented 30% of sales, an increase from 26% a year ago, though a 40% share is considered necessary for a robust housing market [6]

Core Insights - Sales of previously owned homes increased by 1.5% in September compared to August, reaching a seasonally adjusted annualized rate of 4.06 million units, marking the highest pace in seven months despite being slightly below analyst forecasts [1] - Year-over-year, sales were up 4.1% compared to September of the previous year [1] Regional Performance - On an annual basis, sales were strongest in the South and Northeast regions, while the West saw the highest monthly sales increase from August, and the Midwest experienced a slight decline [2] - The average mortgage rate for a 30-year fixed loan decreased from 6.67% in early July to 6.17% by the end of September, contributing to the sales increase [2] Market Dynamics - Falling mortgage rates are positively impacting home sales, with improved housing affordability also playing a role in the sales increase, according to the chief economist of the National Association of Realtors [3] - Inventory of homes for sale rose by 14% year-over-year to 1.55 million units at the end of September, although this remains historically low [3] - At the current sales pace, there is a 4.6-month supply of homes available, with a balanced market typically considered to have a six-month supply [3]

Washington, D.C., Oct. 23, 2025 (GLOBE NEWSWIRE) -- Existing-home sales increased by 1.5% month-over-month in September, according to the National Association of REALTORS® Existing-Home Sales Report. The Report provides the real estate ecosystem, including agents and homebuyers and sellers, with data on the level of home sales, price, and inventory. Month-over-month sales increased in the Northeast, South and West, and fell in the Midwest. Year-over-year, sales rose in the Northeast, Midwest and South, and ...

Core Insights - Mortgage rates are currently decreasing, with the 30-year fixed mortgage rate at 6.15% and the 15-year fixed rate at 5.48% [1] - The 30-year rate has dropped by more than a quarter point in the last three weeks, indicating a potential opportunity for locking in rates [1] Current Mortgage Rates - The national average for the 30-year fixed mortgage is 6.15%, while the 15-year fixed is at 5.48% [5][16] - Refinance rates are generally higher than purchase rates, with the current 30-year refinance rate at 6.24% [5][16] Mortgage Comparison - A $400,000 mortgage at a 30-year term with a 6.15% rate results in a monthly payment of approximately $2,437, leading to $477,289 in interest over the term [8] - Conversely, a 15-year mortgage at a 5.48% rate would require a monthly payment of about $3,264, resulting in $187,536 in interest [8] Rate Trends and Predictions - Economists do not anticipate significant drops in mortgage rates before the end of 2025, despite recent Federal Reserve rate cuts [13][17] - The CME FedWatch tool indicates a nearly 99% chance of a quarter-point cut in the upcoming Federal Reserve meeting [14] Adjustable vs. Fixed-Rate Mortgages - Fixed-rate mortgages lock in the interest rate from the start, while adjustable-rate mortgages (ARMs) can change after an initial fixed period [10][11] - ARMs may start with lower rates but carry the risk of increases after the initial period [12]