Report

Housing Finance Watch (Week 45, 2024)

By Edward J. Pinto | Tobias Peter | Sissi Li

November 13, 2024

PDF to full report

Key takeaways:

  • The median purchase rate held steady at 6.63% in week 45, 2024.
  • According to Mortgage News Daily, the avg. 30-year rate was 7.01% on Nov. 13th.
  • Purchase volume was down 36% from the same week in 2019, and up 3% YoY, with volume slowing with increasing rates.
  • Preliminary YoY HPA was 4.2% in September 2024. It is projected to be 4.4%, 4.5, and 4.6% for Oct. 2024, Nov. 2024, and the first two weeks of Dec. 2024, respectively.
  • Despite subdued purchase activity and relatively high rates, YoY HPA remains strong, largely due to buyers being well-qualified.
  • Our base HPA projection calls for y-o-y HPA of +4.7% and +5.5% by year-end 2024 and 2025 respectively.

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