Data

Rents have grown nationally at a double-digit annual pace for the second consecutive month, with major metros driven by tech jobs experiencing the greatest gains.

Mortgage rates have risen to 3.14%, up five basis points, with refi activity dipping for the fifth straight week.

NAR reports that in all regions, contract signings decreased from the prior month, and from one year ago, as some potential buyers momentarily pause their home search heading into Q4.

With rates on the rise, a slight uptick in purchase apps compensated for a slide in refinance apps, which hit lows last seen in January 2020.

U.S. home price appreciation reached 20.7% in August 2021, marking the third straight month it has reached a new record mark, according to the latest findings by First American.

Housing demand has held strong, as buyers continue to pay above asking prices in a market stifled by tight inventory and a deceleration in construction due to supply chain concerns.

A new study found that 59% of home offers faced competition in September, the lowest level in nine months, amid a seasonal housing-market slowdown and an uptick in mortgage rates.

Fueled by the trajectory of both the economy and the pandemic, mortgage rates advanced upward this week; however, the housing market is expected to remain strong as 2021 comes to an end.

Homebuyer demand has been outpacing supply with mortgage rates creeping upward, with demand growing 15 times faster than supply since 2019.

With mortgage rates hitting near 18-month highs, a new report found a 6.3% slide in both purchase and refi apps week-over-week.