Smart Beta ETF report for XOP
iShares’ MEAR was first to use JPMorgan system, buying Quincy, Mass. debt in April.
With the new year around the corner, Zillow Group (Z) chief economist Skylar Olsen joins Brad Smith on Wealth to talk about her expectations for the housing market in 2025. Olsen says that, looking to 2025, Zillow is "thinking about the affordability challenge, but also thinking about the strength and the economy." She explains, "Put two of those things together, and you've got a lot of buyers in make-it-work mode," meaning buyers are "still trying to take advantage of more affordable" opportunities like buying a home outside of major cities. "We're thinking about the rental market, which will be more important next year because of the continued barriers to the for sale side," the economist says, since there are "generations of people who are going to be renting for longer." As mortgage rates are expected to stay higher for longer, "Zillow does expect probably fewer new listings from existing owners than we did just a couple months ago moving into that next year. That said, we still forecast a steady improvement." To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Naomi Buchanan.
Existing home sales jumped in November, rising 4.8% from the month prior and 6.1% year over year, new data from the National Association of Realtors shows. Zillow Group chief economist Skylar Olsen joins Wealth host Brad Smith to break down what the data signals about the housing market ahead of 2025. "Existing home sales more than matched our optimism for November's numbers. We did expect it to come in probably surprisingly high, [but] I think this more than delivered," Olsen says. She notes Zillow has been tracking a "stronger momentum from new listings, from existing homeowners kind of filling up the shelves, adding to that inventory for buyers, and the strength of the economy pushed buyers through in a make-it-work mode, despite rising mortgage rates to deliver such a stunning showing." The economist says that, in the new year, "we're not going to see [a] big relief from a price correction. Any relief that we hope for from affordability will come in the form of lower mortgage rates." To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Naomi Buchanan.
Mortgage rates pop back up this week following the Federal Reserve's latest interest rate cut, the central bank now forecasting fewer rate cuts to come in 2025. The 30-year fixed-rate mortgage climbs back to 6.72%, up from last week's 6.60% and snapping three straight weeks of rate declines. Yahoo Finance housing reporter Claire Boston sits down with Brad Smith to talk more about mortgage rate trends, in relation to homebuyers' sentiments on the rate environment. Read more of Claire Boston's coverage on mortgage rates. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Luke Carberry Mogan.
Smart Beta ETF report for FXO
New home construction fell to a four-month low in November, down 1.8% from the previous month. Yet new home inventory is at a 17-year high, and homebuilders are optimistic heading into 2025. Following yesterday's interview with National Association of Home Builders CEO Jim Tobin, National Association of Realtors chief economist Lawrence Yun joins Brad Smith on Wealth to discuss his outlook for the housing market. "Home sales have been rising in recent months after being stagnant in the early part of the year, and the reasoning is very simple: We have more inventory...bringing out more buyers," Yun says. The economist notes, "We know that the mortgage rate is not fully behaving, as the Federal Reserve has been cutting rates, mortgage rates stubbornly refusing to decline, but the more inventory, more choices for consumers are bringing buyers back into the market." He says, "That's why it is critical that the builders ramp up production in the upcoming years. So I do believe that the builders need to produce more and will produce more." To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Naomi Buchanan.
Wall Street anticipated a housing market "thaw" in 2024, but the market remains frozen. Yahoo Finance Senior Reporter Dani Romero examined why expectations fell short, highlighting the role of persistently high mortgage rates in maintaining the US housing market's standstill. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Angel Smith