We continue to see the real estate and mortgage industries keep up with varying economic activity. Below are the most important highlights to keep you up to date. - Housing prices are surging to record high as national listing prices grew 8.5 percent. Homes continue to move off the market fast as new listing inventory declines to 35 percent from last year.
- Pending Home Sales were up in June at 16.6% month over month with a 116.1 index.
- Feds are expected to keep rates close to 0 to help support the economy as mortgage rates hold a 3 percent average: 30yr - 2.99%, 15yr - 2.51%, 5yr - 2.94%
- Financial support for those currently unemployed is still pending. This could create another shift in economic and real estate activity, creating new behaviors and trends in the market.
What does the housing market look like for the rest of 2020? While it’s hard for anyone to predict, take a look at the articles this month for some further reading and insight.
| August 2020 | Published by Jordan Vautier - with E Mortgage Home Loans |
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