Housing Snapshot
The following is the second in a new series of themed reports DC will be publishing regularly for paid subscribers.
The goal of these reports is to hone in on and provide a "snapshot" of a specific area of the economy/markets.
1. Mortgage rate. The average rate on a 30-year mortgage has risen for 4 consecutive weeks to 6.94%.
2. National Delinquency Survey. "Mortgage delinquencies increased across all product types for the second consecutive quarter [in Q4]…While the overall delinquency rate is still very low compared to the historical average, the pace of new loans entering delinquency picked up and some loans moved into later stages of delinquency."
3. Mortgage free. "Almost 40% of US home don't have a mortgage."
4. Housing sentiment. "Homebuyer and homebuilder confidence [are] bottoming."
5. Housing affordability. Affordability remains at record lows.
