Market Update

New home sales stay hot as prices soar

New home sales stay hot as prices soar

Mortgage origination volume is expected to hit a whopping $4 trillion for the first time ever. The historically low-interest-rate environment has caused a boon in refinances and purchases, pushing Fannie Mae’s economists to up their predictions for 2020. While refinances are leading the way currently, the purchase market is still hot, at least, when people can find a home to buy.

The Census Bureau reported this week that new home sales went up a staggering 32.1% year-over-year and 16.9% year to date.

Continue reading New home sales stay hot as prices soar at Movement Mortgage Blog.

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