Mid America Mortgage Blog

Home sales strengthen, rates rise

Stocks Drop, Rates Rise, Home Sales Strengthen Overview: The stock market dropped sharply over the past week. Normally, this would result in investors shifting assets to bonds, and the added demand would push yields lower. However, that was not the case this week, and mortgage rates ended at the highest levels in four years. Several big-picture factors negatively affected mortgage rates over the past week. Investor expectations for future inflation increased. Investors also raised their outlook for the pace of tightening by the Federal Reserve, meaning that they now view four rate hikes this year as more likely. The supply of

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Existing-Home Sales Climb in March

The number of existing-home sales increased 1.1 percent in March, marking the second consecutive month of growth. Although the gain was not exceptionally large, the boost may be an indication demand for home buying is sustainable, despite challenging market conditions.

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In some metros, home prices have hit new highs

100-dollar bills in cash

Across the United States, there are several metros where home prices have never been this high. Roughly half of 105 metro areas studied by ATTOM Data Solutions, a real estate data provider, were above their prerecession home price peaks in the first quarter of this year. “Rising interest rates and recently enacted tax reform that removed some tax incentives for homeownership were not enough to cool off red-hot home price appreciation in many parts of the country, with 30 of the 105 local markets analyzed posting double-digit gains in median home prices in the first quarter,” said Daren Blomquist, senior

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Addison, TX 75001
Phone: 214-261-3300
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Lisle, IL 60532
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