Redfin: US pending home sales fall 3.5% to nearly three-year low
PUBT·- Redfin reported that US pending home sales dropped 3.5% month-over-month to 299,126 units, reaching a nearly three-year low. - The median US home sale price rose 2% year-over-year to $397,633, while the 30-year fixed mortgage rate increased to 7.24% on September 16. - Mortgage purchase applications fell 1% month-over-month and 19% year-over-year, reflecting weakened housing demand and high inventory levels.Freddie Mac: US 30-year fixed mortgage rate holds near 6.66% in weekly survey
PUBT·- Freddie Mac reported that the 30 year fixed mortgage average rate held steady at 6.66% in the weekly survey ending August 27, 2026. - The 15 year fixed rate increased slightly to 5.98% compared to 5.95% the previous week. - Chief economist Sam Khater noted that resilient consumer spending, rising incomes, and more listings indicate a more balanced housing market.S&P 500 Top Stock Gainers Today, 8/6/26
Tip Ranks·- The S&P 500 closed lower on Thursday amidst a continued market sell-off following a recent rally. - The energy sector outperformed as Brent crude rebounded nearly 4 % driven by geopolitical uncertainty surrounding the Strait of Hormuz. - The real estate sector suffered the steepest declines after Freddie Mac reported that 30-year mortgage rates rose for a fifth consecutive week to 6.69 %.Redfin: US pending home sales hit 3-month low as mortgage rates rise to 6.85%
PUBT·- Redfin reported that rising mortgage rates pushed US pending home sales to a 3-month low. - The 30-year mortgage rate climbed to 6.85 %, causing a 1.7 % month-over-month drop in pending sales and a 4 % decline in mortgage purchase applications. - Active listings reached 1.49 million with 3.6 months of supply, maintaining strong buyer bargaining power as sellers outnumbered buyers.Second-lien issuance expected to reach $41 billion this year
American Banker·- In 2026, second lien and home equity line of credit residential mortgage-backed securitization issuance reached $24 billion, the highest since the Great Financial Crisis, with a projection of $41 billion for the year. - Analysts from Bank of America believe growth potential remains due to high first mortgage rates and an estimated $2 trillion of eligible loans from previous low-rate vintages. - Meanwhile, spreads on AAA-rated second lien securitizations are comparable to non-qualified mortgages, and recent spikes in Treasury yields have led to widening agency MBS spreads, reflecting broader market concerns.