Mortgage rates in the US fell for a second straight week https://t.co/ec19Qw9oXI ...

First though, some breaking housing data this morning. For that, we'll turn to Dom Chu. Morning, Dom. >> Morning, Carl. Good morning, Sarah.So, builder sentiment in the single family housing market rose five points to the level of 37 in October. That's the NAHB housing market index. The street was looking for just a one point gain there.Now, October's reading is the highest since April. The builders did site a slight drop in mortgage rates overall in early October and the actions by the Fed itself. NAHB cha ...

Core Insights - Confidence among US homebuilders increased significantly in October, marking the highest rise since early 2024, driven by lower mortgage rates that are improving affordability conditions [1][2] Group 1: Builder Sentiment - The National Association of Home Builders (NAHB) and Wells Fargo's market conditions index rose by 5 points to 37 in October, the highest level since April, indicating that more builders are optimistic about market conditions [2] - Despite the increase in builder confidence, a value below 50 suggests that more builders still perceive conditions as poor rather than good [2] Group 2: Mortgage Rates and Buyer Behavior - Recent declines in mortgage rates are seen as a positive development for affordability, yet the market remains challenging as many potential homebuyers are still hesitant and waiting for further decreases in mortgage rates [3][5] - Borrowing costs fell to a one-year low in September, leading to a modest increase in buyer demand, although builders like KB Home noted that their order volumes did not align with the significant drop in rates [4][5] Group 3: Construction and Sales Strategies - Builders are currently slowing their construction pace and employing price cuts and sales incentives to attract buyers, with 38% of builders reporting price reductions in October, consistent with previous months [5] - Additionally, 65% of builders are utilizing sales incentives, which remains unchanged from the prior month [5] Group 4: Regional Confidence Variations - Builder confidence has risen across the country, particularly in the Northeast and South, which are the largest homebuilding regions in the US, while gains in the West and Midwest have been more modest [6]

Confidence among US homebuilders rose this month by the most since early 2024, boosted by lower mortgage rates that are chipping away at the nation’s affordability problem https://t.co/V62HhpDxcU ...

Mortgage Rates Overview - Today's average 30-year fixed mortgage rate has decreased by three basis points to 6.27%, while the 15-year fixed rate is down one basis point to 5.52% [1] - Small fluctuations in mortgage rates are expected to continue until the government shutdown is resolved, with the decision to buy a house depending more on individual financial situations than on current rates [2] Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 6.23% - 20-year fixed: 5.87% - 15-year fixed: 5.47% - 5/1 ARM: 6.28% - 7/1 ARM: 6.37% - 30-year VA: 5.67% - 15-year VA: 5.32% - 5/1 VA: 5.58% [6] - Another set of current rates shows: - 30-year fixed: 6.33% - 20-year fixed: 6.06% - 15-year fixed: 5.73% - 5/1 ARM: 6.50% - 7/1 ARM: 6.56% - 30-year VA: 5.81% - 15-year VA: 5.48% - 5/1 VA: 5.48% [7] Mortgage Rate Types - Mortgage interest rates can be fixed or adjustable, with fixed rates locking in the rate for the entire loan term, while adjustable rates change after an initial period [9] - At the beginning of a mortgage term, most payments go toward interest, gradually shifting to pay down the principal over time [10] Factors Influencing Mortgage Rates - Mortgage rates are influenced by controllable factors such as comparing lenders and improving credit scores, as well as uncontrollable factors like the overall economy [11][12] - Economic conditions, such as employment rates, affect mortgage rates; struggling economies typically see lower rates to encourage borrowing, while strong economies may lead to higher rates [13] Mortgage Term Comparisons - A 30-year fixed mortgage offers lower monthly payments but results in higher total interest paid over time [14] - A 15-year fixed mortgage has a lower interest rate and less total interest paid, but higher monthly payments [15][16] Additional Insights - Some banks, like Bank of America and Citibank, are noted for offering lower median mortgage rates, but it is advisable to shop around for the best rates [17] - The lowest-ever 30-year fixed mortgage rate was 2.65% in January 2021, and rates are unlikely to dip below 3% in the near future [19] - Experts suggest refinancing when a new rate is at least 1% to 2% lower than the current rate, depending on individual financial goals [20]

Joining me now in the state of housing, Daryl Farweather, Redfin, chief economist. And here's a special treat. She's in studio with us.Usually, she is remote, so it's good to see you in person. >> It's great to see you, too. >> Although we're not talking about great numbers, to be fair.That cancellation rate is really interesting. So, that's basically when somebody signs the a letter of intent, they're going to buy the house, and then they say never mind. So, what's the rate right now, and what's contributi ...

Core Insights - The week of October 12 to 18 is identified as the optimal time for homebuyers, offering a favorable combination of affordability, selection, and negotiation power [1][10][13] Mortgage Rates - 30-year fixed mortgage rates have decreased to the low-to-mid-6% range, down from a high of 7.79% in October 2023 [2] - Mortgage rates typically align with the 10-year Treasury yield, which has been between 4% and 4.3% [2] - A $350,000 mortgage at a 6.5% rate versus a 7% rate results in a monthly difference of approximately $117, totaling over $40,000 over 30 years [3] Housing Inventory - Existing home sales reached a seasonally adjusted annual rate of 4 million in August 2025, with housing inventory rising to 1.53 million homes, an 11.7% increase from August 2024 [5] - In the new home market, builders sold homes at an annual pace of 652,000 in July, with 499,000 homes available for sale, indicating a 9.2-month supply, up from 7.5 months in July 2024 [6] Home Prices - Home prices are high but are increasing at a slower rate, with a 0.1% decrease reported in July 2025, while the Case-Shiller National Home Price Index rose 1.7% year-over-year, down from 1.9% in June [7] - Price trends vary by location, with some areas experiencing flat prices or slight decreases, while others face higher demand [7] Rental Market - Rents continue to rise, with primary residence rents and owner's equivalent rent each increasing by 0.3% from June to July 2025, and owner's equivalent rent is about 4% higher than a year ago [8] - A renter paying $1,500 per month would see an increase of approximately $60 monthly due to a 4.1% rise, equating to about $720 more annually [9] Buying Conditions - During the week of October 12 to 18, active listings are expected to be about 32.6% higher than at the start of 2025, with listings receiving about 30.6% fewer views per property compared to peak buying season [10][11] - Listing prices during this week are typically 3.4% lower than yearly highs, potentially saving buyers around $15,000 on a $439,000 home [11][14] - Approximately 5.5% of listings see price reductions, and homes remain on the market about two weeks longer than during busier months, providing buyers with more negotiation leverage [11] Local Market Trends - In 45 of the top 50 metro areas, the best week to buy falls within a month of the October 12 to 18 timeframe, with some regions experiencing optimal buying opportunities slightly earlier or later [12]

Mortgage rates have hardly moved this week. According to Zillow, the average 30-year fixed mortgage rate has held steady at 6.28%, and the 15-year fixed rate is down by two basis points to 5.56%. Current mortgage rates Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.28% 20-year fixed: 5.90% 15-year fixed: 5.56% 5/1 ARM: 6.52% 7/1 ARM: 6.63% 30-year VA: 5.88% 15-year VA: 5.39% 5/1 VA: 5.76% Remember, these are the national averages and rounded to the ...

Well, it looks like the keys to the housing market might finally be turning in buyers favor. A report from realtor. com says the week of October 12th through the 18th is the best time all year to buy a home with more listings and less competition on the block.For more, I'm going to bring in here Danielle Hail, chief economist at realtor. com. Danielle, it is good to see you as always.So your research shows Danielle midocctober the best week of the year to buy a home. Why why is that Danielle. Explain the tr ...

Core Insights - The optimal time to buy a home is during the week of Oct. 12-18, characterized by higher inventory, lower prices, and reduced competition [1][2] - October typically sees price reductions averaging 5.5% and an increase of 15.7% in listings, providing buyers with more choices [2] - Buyers can expect 30.6% less competition and potential savings of $15,000 during this period [2] Market Trends - Homeowners are experiencing a "lock-in effect," with over 80% locked in at rates below 6%, making it difficult for them to sell [5] - Current mortgage rates are between 6.5% and 7%, with expectations that they will not drop below 6% until late 2025 or 2026 [5] - Selling in a future market with lower rates could yield an additional 5%-10% on the final sale price due to increased buyer demand [7] Buyer Behavior - Many homeowners are opting to stay in their current homes due to the financial implications of moving to higher mortgage rates [4] - Increased buyer demand when rates decrease could lead to bidding wars, providing sellers with more options and leverage in the selling process [7] Recommendations - For potential homebuyers, the week of Oct. 12-18 is highlighted as a prime opportunity to purchase a home [1][2] - Homeowners considering selling may benefit from waiting until 2026 when interest rates are expected to decline [3][4]