MarketMinute | How does today's housing inventory compare to last year's? - Greenway Mortgage Blog

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MarketMinute | How does today's housing inventory compare to last year's?

Jan 12

3:32

AM

Category | Markets in a Minute

Consumer inflation came in slightly higher than expected, led by housing costs. However, the pace of core inflation slowed a little.

Jobless claims dropped to 202K last week, coming in less than expected at the lowest level since October.

Markets continue to price in the likelihood of a March Fed rate cut, despite Fed officials’ signals they will hold rates longer.

Housing News

A recent Fannie Mae survey showed more consumers think it is a good time to buy a home. More also expect rates to fall in 2024.

Altos Research reports there are currently 499K unsold single-family homes on the market, 6% more than this time last year.

Mortgage apps increased 9.9% for the week on a seasonally adjusted basis, with refi apps up 19% and purchase apps 6% higher.