XHB Sep 2024 119.000 call
- Yahoo Finance Video
Housing market to see 'slow comeback' as mortgage rates fall
US existing home sales fell below April estimates, reporting a figure of 4.14 million for the month while declining more than expected by 1.9% month-over-month. Realtor.com Chief Economist Danielle Hale helps Yahoo Finance look deeper into the housing data and what it signifies for forthcoming improvements in the housing market. "For existing homeowners who are maybe reasonably happy with their home, but ready to make a trade either up or down or to something different, it is really expensive to try to get a mortgage at a 7% rate, compared to their current rate," Hale explains. "90% of them are under six and two-thirds are under 4%. so it makes it a lot more expensive to move." She also expects real estate market and buyer activity to "ramp up" with every little decline in mortgage rates, but forecasts it to still be a "slow comeback." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Homebuilding fundamentals remain 'robust': Saint-Gobain NA CEO
Mortgage rates have slowly fallen for the second week in a row, with the 30-year fixed mortgage rate just above 7%. With the potential for mortgage rates to come down further, the housing market may see a bit of a turnaround for homebuyers. However, the supply of homes is still low. Saint-Gobain North America CEO Mark Rayfield (SGO.PA) joins Market Domination Overtime to discuss the state of homebuilding and the broader housing market. On the fundamentals of homebuilding in North America, especially after COVID-19, Rayfield states: "It's still a very robust market. So for the vast majority of building materials, if you look at exterior products and roofing and siding and gypsum and insulation, the market is there, thereabouts at capacity. Not sold out like it was in COVID. But depending on where you are regionally, there could be some supply challenges, not long. So that is another reason I say the market remains quite robust at these housing levels." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
- Yahoo Finance
Housing costs rise at slowest annual rate in two years as inflation eases
Shelter costs continued to pressure inflation in April, but a moderation continues and economists expect these pressure to ease in the months ahead.
