Mortgage Apps Down; Purchases Fall, Refis Still Elevated

Welcome back to Real Estate Jerky Daily with Ed Parcaut and Mike Kelly.

In this episode, Ed and Mike break down a market that is still showing real buyer activity even as mortgage rates get hit hard. Pending home sales came in better than expected, private employers are still creating jobs, and inventory rose again, but oil above $100 is keeping major pressure on mortgage pricing.

Topics covered in this episode:

pending home sales rose 1.4% in April
year-over-year pending sales rose 3.2%
ADP-style private job growth pointed to about 169,000 jobs over the last four weeks
Stanislaus County climbed to about 715 listings
local pendings slipped below 400
local closings were around 190 with 11 days left in the month
rates worsened by about 46 basis points
the 10-year Treasury moved near 4.58
national inventory jumped to 777,913
median list price hit $449,999
price reductions rose to 36.51%
oil stayed around $105
sellers still need to listen to their agent on price

If you want a fast market update with real-world mortgage and housing perspective, this one delivers.

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Видео Mortgage Apps Down; Purchases Fall, Refis Still Elevated канала Ed Parcaut