http://www.mortgagenewsdaily.com/news MND NewsWire : Housing and Economic News https://www.mortgagenewsdaily.com/news/09182026-pending-home-sales Fri, 18 Sep 2026 19:55:00 GMT 6aad9e02910259c1c7578747 Matthew Graham Pending home sales edged higher in August as gains in the South and West offset declines in the Northeast and Midwest. The National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI), which tracks signed contracts on existing homes, increased 0.3% from July but was down 4.7% from a year earlier. The modest increase came despite another period of elevated mortgage rates. NAR Chief Economist Lawrence Yun said income growth has been outpacing home price growth, but higher borrowing costs continue to limit the resulting improvement in buying power and housing demand. Pending sales remain roughly 30% below pre-pandemic levels nationally. Activity peaked in 2021 when mortgage rates were near 3%, suggesting that lower borrowing costs remain an important factor in bringing sidelined demand back into the market. Regional Results Area Monthly Change Annual Change Additional Detail Northeast -4.2% -3.9% Among the fastest home price growth Midwest -1.6% -4.9% Among the fastest home price growth South +2.3% -3.8%   West +3.0% -6.7%   Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/09182026-new-residential-construction-housing-starts-b Fri, 18 Sep 2026 19:47:00 GMT 6aad9664d51bf80b587cb186 Matthew Graham Residential construction was mixed in August as housing starts recovered in the single-family sector, while building permits declined from July levels and completions fell sharply. The latest Census Bureau data points to continued unevenness in residential construction, with builders pulling back somewhat on new authorizations even as single-family construction picked up. Privately owned housing starts fell 2.6% to a seasonally adjusted annual rate of 1.275 million , down 1.2% from the August 2025 pace. Single-family starts, however, increased 7.6% to 918k , while starts for buildings containing five units or more fell to 344k . Building permits moved in the opposite direction, declining 2.7% from July to an annual rate of 1.394 million , though they remained 3.5% above the August 2025 rate. Single-family authorizations fell 1.8% to 878k , while permits for buildings containing five units or more came in at 467k . The August data underscores the uneven pace of residential construction. Single-family starts rebounded after falling in July, while permits softened modestly. The pullback in multi-family starts was more pronounced, although that segment can be considerably more volatile from month to month. Housing completions also declined sharply in August, falling 11.9% to a seasonally adjusted annual rate of 1.128 million , down 27.1% from a year earlier. Single-family completions decreased 10.4% to 816k , while completions for buildings containing five units or more came in at 302k . Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/09182026-builder-confidence-nahb-hmi Fri, 18 Sep 2026 19:20:00 GMT 6aad92ed910259c1c7578742 Matthew Graham Builder sentiment took a meaningful step backward in September, with higher mortgage rates, rising construction costs and worsening labor shortages weighing on the market for newly built homes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) fell three points to 32 , matching September 2025 as the lowest level in over 3 years.  Breakdown of various component indices: HMI Component August September Change Current sales conditions 39 35 -4 Sales expectations 43 37 -6 Prospective buyer traffic 23 23 Unchanged “Buyer traffic has weakened across much of the country, largely because of rising mortgage rates,” said NAHB Chairman Bill Owens. Owens also pointed to higher material costs, rising gas and diesel prices and persistent labor shortages as ongoing challenges for builders. NAHB Chief Economist Robert Dietz added that builders also reported difficulty finding available lots, with 42% rating current lot availability as poor and another 38% rating it as fair. Builders increased their use of pricing incentives in September. The share reporting price cuts rose to 38% from 35% in August, while the average price reduction remained at 6% for the sixth consecutive month. Sales incentives were also more common, with 66% of builders reporting their use, up from 63% in August and the highest share since December. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/09182026-mortgage-applications-mba Fri, 18 Sep 2026 18:43:00 GMT 6aad8e71910259c1c757873f Matthew Graham Mortgage application activity weakened again last week, with higher mortgage rates weighing on both purchase and refinance demand. The Mortgage Bankers Association (MBA) reported a 4.1% decrease in total application volume on a seasonally adjusted basis for the week ending September 11. The results include an adjustment for the Labor Day holiday. Purchase applications fell 1% from the previous week on a seasonally adjusted basis. The unadjusted Purchase Index dropped 13%, although that figure was heavily affected by the holiday. More notably, purchase activity was 19% lower than the same week one year ago, reversing the modest year-over-year gains seen in recent weeks. Refinancing continued to lose ground as well. The Refinance Index fell 9% from the previous week and was 65% below year-ago levels. Refinances accounted for just 39.4% of total application volume, down from 40.9% the previous week and marking another step lower as elevated rates eliminate much of the potential benefit for borrowers who might otherwise refinance. "Mortgage rates followed and were almost 7%," said Joel Kan, MBA's Vice President and Deputy Chief Economist, citing ongoing concerns over spiking energy prices, persistently high inflation, and future monetary policy. Kan noted that the 30-year fixed rate reached 6.97% , its highest level since May 2025, as the 10-year Treasury yield moved closer to 5%. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/09112026-existing-home-sales-nar-inventory-prices-appr Fri, 11 Sep 2026 18:35:00 GMT 6aa44b745931b3d6473f9521 Matthew Graham Existing-home sales slipped in August, falling below the 4 million annualized pace for the first time since June 2025, while a sharp increase in inventory gave buyers more options and pushed the supply of homes to its highest level in more than a decade. The National Association of REALTORS® reported a 2.0% decline in sales from July to a seasonally adjusted annual rate of 3.98 million , while sales were 1.2% lower than a year earlier. “Mortgage rates and home sales move in opposite directions, so it's not surprising to see a mild dip in home buying activity due to high mortgage rates,” said NAR Chief Economist Lawrence Yun. He noted that sales are still 1.6% higher year-to-date through the first eight months of the year, with wage growth and job creation helping to support demand despite elevated borrowing costs. Inventory provided a more encouraging development for buyers. Total housing inventory rose to 1.62 million units , up 3.2% from July and 5.9% from a year ago. It was the first time since November 2019 that inventory exceeded 1.6 million units. The increase in supply pushed the market to a 4.9-month supply , up from 4.6 months in both July and August 2025. Yun noted that the current level is the highest in more than ten years and should give buyers more room to negotiate. Despite higher inventory, home prices continued to climb, although the pace of appreciation remained modest. The median existing-home price increased to $429,100 , up 1.6% from August 2025 and marking the 38th consecutive month of year-over-year price increases. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/09112026-mortgage-applications-mba Fri, 11 Sep 2026 18:20:00 GMT 6aa448695931b3d6473f951e Matthew Graham Mortgage application activity pulled back last week, with a sharp decline in refinancing more than offsetting relatively stable purchase demand as mortgage rates moved higher. The Mortgage Bankers Association (MBA) reported a 2.7% decrease in total application volume on a seasonally adjusted basis for the week ending September 4. Purchase applications were little changed, slipping just 0.2% from the previous week on a seasonally adjusted basis. On an unadjusted basis, purchase activity fell 3%, but remained 4% higher than the same week one year ago, earning it's spot as the one positive note for this week's report. Refinancing was a different story. The Refinance Index fell 6% from the previous week and was 25% below year-ago levels, reaching its slowest weekly pace since May 2025. Refinances also accounted for a smaller portion of overall mortgage activity, with the refinance share falling to 40.9% from 41.8% the previous week. Notably, this data was collected before this week's sharpest rate spikes, so this trend will likely accelerate next week. "Mortgage rates moved higher last week, driven by ongoing investor concerns over inflation and the federal budget deficit," said Joel Kan, MBA's Vice President and Deputy Chief Economist. Kan noted that the 30-year fixed rate reached 6.85%, its highest level since June 2025 and 36 basis points above the same time last year. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/09042026-mortgage-applications-mba Fri, 04 Sep 2026 18:57:00 GMT 6a9b1546db56e9acd0a7a1a7 Matthew Graham Mortgage application activity showed some signs of life last week, with a modest increase in purchase demand helping offset another decline in refinancing as mortgage rates reached their highest level in four weeks. The Mortgage Bankers Association (MBA) reported a 0.8% increase in total application volume on a seasonally adjusted basis for the week ending August 28. Purchase applications held down the fort, rising 2% from the previous week on a seasonally adjusted basis. Activity was still 0.2% below the same week one year ago, but the relatively stable year-over-year comparison suggests buyers are continuing to transact despite mortgage rates hovering near 7%. Refinance demand moved in the opposite direction. The Refinance Index fell 1% from the previous week and remained 19% below year-ago levels. Refinances also represented a slightly smaller share of overall activity, slipping to 41.8% from 42.0% the previous week. "Mortgage rates reached their highest levels in four weeks as investors’ concerns about inflation and growing deficits push yields higher across the globe," said Mike Fratantoni, MBA’s SVP and Chief Economist. There was another sign of borrowers adjusting to the rate environment. The adjustable-rate mortgage (ARM) share of activity climbed to 8.0% , its highest level in five weeks, as the average rate for a 5/1 ARM fell to 5.94%. FHA loans accounted for a smaller share of applications, while the VA share increased noticeably from the previous week. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/08282026-mortgage-applications-mba Fri, 28 Aug 2026 18:38:00 GMT 6a91d65cbd3dadc84373d773 Matthew Graham Mortgage application activity softened last week, with both purchase and refinance demand moving lower as mortgage rates climbed to their highest level in three weeks. The Mortgage Bankers Association (MBA) reported a 1.0% decrease in total application volume on a seasonally adjusted basis for the week ending August 21. Purchase applications were down 0.3% from the previous week on a seasonally adjusted basis and 5% below the same week one year ago. FHA applications accounted for much of the weekly decline, falling 7% . Refinance demand also lost some ground. The Refinance Index fell 2% from the previous week and remained 17% below year-ago levels. FHA and VA refinance applications saw particularly notable declines, while the average refinance loan size fell to its lowest level since June 2025. "Mortgage rates reached their highest level in three weeks, with the 30-year fixed rate up slightly to 6.78 percent. Mortgage rates have increased around 20 basis points over the past two months, which has dampened refinancing activity," said Joel Kan, MBA's Vice President and Deputy Chief Economist. Despite the pullback in refinancing, refinances accounted for a slightly larger share of overall activity, rising to 42.0% from 41.9% the previous week. The adjustable-rate mortgage (ARM) share also ticked higher, reaching 7.9% from 7.7%. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/08282026-new-home-sales Fri, 28 Aug 2026 18:35:00 GMT 6a91d581bd3dadc84373d770 Matthew Graham The new home market struggled to maintain the momentum seen in June, with sales falling sharply in July and inventory moving higher. The latest Census Bureau and HUD figures point to another month of uneven activity for builders, as buyers continue to contend with affordability constraints and elevated mortgage rates. Sales of new single-family homes fell to a seasonally adjusted annual rate of 607,000 in July, down 10.5% from June's revised 678,000 and 6.3% below the same month last year. The monthly decline largely erased June's increase, leaving the broader sales trend little changed. In the bigger picture, the new home market has been broadly flat since the post-COVID volatility faded in early 2023. Meanwhile, builders added to the pool of available homes. The number of new houses for sale reached 488,000 , an increase of 1.9% from June, although inventory remained 1.6% below its level a year earlier. With the sales pace slowing as inventory increased, the implied supply rose to 9.6 months , up from 8.5 months in June and 9.2 months in July 2025. Pricing offered a mixed signal. The median sales price slipped to $393,800 , down 2.3% from June and 0.9% from a year earlier. The average sales price, however, climbed to $508,800 , an increase of 4.1% from the previous month and 5.4% from July 2025. As a reminder, price movements in this data set are not necessarily apples to apples, since changes in the mix of homes sold can have a significant effect on the reported figures. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/08282026-case-shiller-fhfa-home-prices-prices-apprecia Fri, 28 Aug 2026 18:25:00 GMT 6a91d4b0bd3dadc84373d76f Matthew Graham Home prices continued to edge higher in the latest readings from FHFA and the S&P Cotality Case-Shiller Home Price Indices , with both measures showing somewhat stronger annual gains than they did a month earlier. The improvement was still relatively modest, however, and inflation continued to run ahead of home values. At the same time, the national figures continue to mask a growing divide between markets where prices are still climbing at a healthy pace and those where values have begun to slip. According to FHFA, U.S. house prices rose 2.1% between the second quarter of 2025 and the second quarter of 2026, while prices increased 0.3% from the first quarter. The agency's seasonally adjusted index was unchanged from May to June, suggesting that the quarterly gain came without much additional momentum heading into the summer. Prices have continued to appreciate nationally, but the current pace remains a far cry from the rapid increases seen earlier in the decade. The FHFA data also show just how differently housing markets are behaving across the country. All nine census divisions posted annual gains, led by the East North Central division at 4.5% . The Pacific division brought up the rear with appreciation of just above 0% . At the state level, Alaska recorded the largest increase at 8.3% , while Vermont and Hawaii followed at 7.3% and 5.8%, respectively. Only four states saw prices decline, with New Mexico posting the largest drop at 1.2% . Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news