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Mortgage Rates

Mortgage rates for Texas homebuyers

Frisco TX Home Sales Collapse As DFW Market Turns

Home sales were down 13 percent in Frisco TX, the popular suburban Dallas community which is also home to the Dallas Cowboys. Pending sales during the month of October were even worse, falling 16 percent from the same time a year ago. The number of homes for sale in this   in this sports-minded community rose 6.2%. There are over a 1000 homes for sale in Frisco currently, but they aren't selling like they used to. Frisco's real estate problem is the same one plaguing the North Texas market in general. Prices are simply too high, [...]

By |2018-11-24T12:51:01+00:00November 24th, 2018|Collin County Home Prices, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Economy, Mortgage Rates, Relocation|0 Comments
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Jerome Powell Visits Dallas Fed – Global Perspectives In Oblivion

Federal Reserve chair, Jerome Powell, visited the Dallas Federal Reserve yesterday to cap the Dallas bank's Global Perspectives series. Aside from pontificating about global economic perspectives, the meeting between Robert Kaplan and Jerome Powell was insightful for many reasons. Kaplan reminded the audience of Powell's policy experience which includes time as partner at private equity firm the Carlyle Group. Listening to a Goldman Sachs alum toss softball questions to a Carlyle alum is one way, I suppose, to placate a concerned public that the economy is still healthy and the Fed is on the ball, [...]

By |2022-01-05T03:36:55+00:00November 15th, 2018|Denton County Real Estate, Denton TX Real Estate, DFW Real Estate, Economy, Markets, Mortgage Rates, Politics, Real Estate, Spin Cycle|1 Comment
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High Prices, Higher Rates Stall Dallas Fort Worth New Home Market

High prices and higher rates are hammering the Dallas-Fort Worth new home market. Starts from new home builders are now expected to increase by only a few hundred homes next year. I am not surprised. I covered this development a few days ago in my post on DR Horton's fourth quarter results, but a recent piece in the Dallas Morning News citing an industry insider/expert highlights the failure of local media to report on what is actually happening. My October housing market report for the DFW area explains why the correction in the local real estate [...]

By |2018-11-11T13:25:58+00:00November 11th, 2018|Dallas Tx Home Prices, Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, Development, DFW Home Prices, DFW New Homes, DFW Real Estate, Economy, Housing Market, Mortgage Rates, New Home Sales, Spin Cycle, Video|0 Comments
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Denton County Home Sales Continue Sliding In October

Denton County Texas home sales continued to slide in October as the real estate market softened throughout the Dallas-Fort Worth area. Closed sales in Denton County fell roughly 8 percent for the month of October compared to last year. This is slightly worse than the 6% sales decline for the Dallas-Fort Worth metro area. Pending single-family home sales in the Denton County area were down about 14 percent for the month of October as the stock market swoon also hit the local housing sector. The official statistical estimate of a 9 percent pending sales decline [...]

By |2021-07-05T13:47:18+00:00November 9th, 2018|Denton County Home Prices, Denton County Homes For Sale, Denton County Real Estate, Denton Tx Home Prices, Denton TX Homes For Sale, Denton TX Real Estate, DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Economy, Housing Market, In the Press, Markets, Mortgage Rates, Relocation, Spin Cycle, Texas Real Estate|0 Comments
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DR Horton Posts Higher Sales And Orders On Lower Average Prices

Dallas-Fort Worth-based DR Horton released fourth quarter numbers showing an 11 percent increase in home closings for the latest three months ending September 30. The company also posted a 11 percent jump in new net sales orders for the fiscal fourth quarter. With 51,857 homes sold during the past year, DR Horton still edges out Lennar as the country's largest home builder by volume. While DR Horton posted solid results on new home sales and profitability in the latest quarter, the housing slowdown is still evident digging into the company's latest numbers. In the midst [...]

By |2021-07-05T13:47:45+00:00November 8th, 2018|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Economy, In the Press, Markets, Mortgage Rates, New Home Sales, Spin Cycle|0 Comments
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High End Dallas-Fort Worth Real Estate Could Get Crushed

As I detailed yesterday, the Dallas-Fort Worth real estate market fell out of bed last month. With pending home sales registered to post some of the worst numbers in years and inventory marching higher across the Dallas Fort Worth area, it is painfully clear that that the real economy in the DFW area is more fragile than the sell-side pundits would have us believe. I'm not surprised, because I cover the hype and spin in the real estate sector regularly on this blog. In a recent interview with Bloomberg, 'Black Swan' author Nassim Taleb specifically [...]

By |2020-03-28T14:49:20+00:00November 5th, 2018|DFW Home Prices, DFW Homes For Sale, DFW Real Estate, Economy, Housing Market, In the Press, Mortgage Rates, Spin Cycle, Video|1 Comment
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October Swoon Suggests Denton County Real Estate Market Correction Just Getting Started

Denton County's real estate market is going to post some very soft numbers again for October. Both closed and pending home sales are going to be down year-over-year while pending home sales are likely going to post a double-digit decline not just in Denton County, but for the entire Dallas-Fort Worth housing market. OUCH! Available home inventory is shooting higher across the DFW area. While notable economists at the Federal Reserve, local real estate "professionals" and even the "experts" at the RECenter at Texas A&M have been dismissing recent developments as just a cooling off [...]

By |2022-01-05T03:37:34+00:00November 4th, 2018|Dallas Tx Employment, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, Economy, Housing Market, Housing Policy, Humor, In the Press, Mortgage Rates, Real Estate, Spin Cycle, Texas Real Estate|0 Comments
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New Home Sales Fall 13.2 Percent In September As Inventory Rises 34 Percent

The Census Bureau reported new home sales for September this morning at a seasonally adjusted annual rate of 553,000. This was 5.5 percent below revised August numbers and a 13.2% drop from September last year. The numbers for September new home sales were well below estimates, and they came on top of big downward revisions for previous months as well. Both the median price ($320,000) and the average price ($377,200) were below prices seen last year. The supply of new homes on the market swelled to 7.1 months in September. That translates to a 34% [...]

By |2020-09-22T15:47:34+00:00October 24th, 2018|Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton Tx Home Prices, Denton Tx New Homes, Denton TX Real Estate, DFW Home Prices, DFW New Homes, Mortgage Rates, New Home Sales, Real Estate, Texas Real Estate|0 Comments
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Existing Home Sales Lowest In 3 Years With 4.1% September Drop

The National Association of Realtors reported the lowest levels for existing U.S. home sales in 3 years. Sales of existing homes posted at a seasonally adjusted annual rate of 5,115,000 for September, down from August numbers which were also revised lower. The year-over-year decline in existing home sales of 4.1 percent puts sales levels back to where they were three years ago. Existing home inventory at 1.88 million homes was up slightly from last year's 1.86 million units. NAR's chief economist, Lawrence Yun, indicated that "higher interest rates have led to a decline in sales [...]

By |2020-09-22T15:47:51+00:00October 19th, 2018|Denton County Homes For Sale, Denton County Real Estate, Denton TX Homes For Sale, Denton TX Real Estate, DFW Homes For Sale, DFW Real Estate, Existing Home Sales, Housing Market, Housing Policy, In the Press, Mortgage Rates, Texas Real Estate|0 Comments
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Hoisington Q3 Update – Deflationary Wave Of Debt Will Stifle Yields

The deflationary wave of debt growing within multiple facets of the U.S. economy will stifle yields. That's the gist of Van Hoisington and Lacy Hunt's latest third quarter Review and Outlook. As the market was puking on the latest surge in Treasury yields above 3%, I couldn't help but notice that the publicly traded homebuilders were getting crushed yet again. With the Freddie Mac 30-year mortgage rate touching 4.9 percent this week (levels not seen in 7 years), things were getting even uglier for the housing sector. There was nowhere to hide this week if [...]

By |2020-09-22T15:48:11+00:00October 13th, 2018|Denton County Real Estate, Denton TX Real Estate, DFW Real Estate, Economy, Housing Market, Housing Policy, In the Press, Markets, Mortgage Rates, Mortgages, New Home Sales, Politics, Spin Cycle|0 Comments
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