June Existing Home Sales Up 1.4%

Existing home sales increased in June, the first monthly increase in five months, the National Association of Realtors reported Thursday.

MBA Weekly Applications Survey July 21, 2021: Apps Decrease

Mortgage applications decreased 4.0 percent from one week earlier, the Mortgage Bankers Association reported in its Weekly Applications Survey for the week ending July 16. The previous week’s results included an adjustment for the Fourth of July holiday.

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“Homebuilders are encountering stronger headwinds of late as severe price increases for key building materials, rising regulatory costs and labor shortages impact their ability to raise production. This has dampened new home sales and quickened home-price growth.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

June Mortgage Credit Availability Down 8.5%

Mortgage credit availability decreased in June to its lowest level since September, the Mortgage Bankers Association reported Thursday.