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New-Home Sales Up in November as Consumer Demand Remains Strong

USA Real Estate News-RISMedia - Mon, 2021-12-27 15:04

New-home sales increased in November, driven by strong buyer demand, low existing-home inventory and a predicted increase for mortgage interest rates, according to the latest data from the Commerce Department.

Key details:

MBA Releases 2022 Mortgage Market Forecasts

USA Real Estate News-RISMedia - Mon, 2021-12-27 15:03

The Mortgage Bankers Association (MBA) recently released its economic and mortgage market forecasts for year-end 2021 and for 2022.

Here’s what the organization predicts.

For year-end 2021:

FHFA Releases Q3 2021 Foreclosure Prevention and Refinance Report

USA Real Estate News-RISMedia - Mon, 2021-12-27 15:02

The Federal Housing Finance Agency (FHFA) recently released its third quarter 2021 Foreclosure Prevention and Refinance Report​. The report shows that Fannie Mae and Freddie Mac completed 180,566 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,210,485 since the start of conservatorships in September 2008.

Mortgage Rates Bumped Down Leading Up to the Holidays

USA Real Estate News-RISMedia - Mon, 2021-12-27 15:01

The 30-year fixed-rate mortgage (FRM) averaged 3.05% for the week ending Dec. 23, according to the latest data from Freddie Mac.

Mortgage details:

Regional Spotlight: Florida Sees Higher Levels of Market Activity in November

USA Real Estate News-RISMedia - Mon, 2021-12-27 15:00

Florida’s housing market reported more closed sales, higher median prices, more pending sales and continuing tight inventory levels in November compared to a year ago, according to Florida REALTORS® latest housing data.

Closed sales of single-family homes statewide last month totaled 27,541, up 4.3% year-over-year, while existing condo-townhouse sales totaled 11,598, down 5.4% from November 2020. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

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