top of page
  • Writer's pictureChris Mackey

BlueBid Buzz: May 9

The Buzz is a regular summary of housing market news and data driving our decision-making at BlueBid.

Here's the Buzz for the week of May 9, 2024…

  • provides some valuable advice for buyers looking to obtain a mortgage. Avoid these six mistakes as you go through the process!

  • Mortgage demand continues to bounce around, according to CNBC. Weekly mortgage refinance demand rose 5% after a slight dip in mortgage rates. Applications for a mortgage to purchase a home rose 2% for the week but were still down 17% year-over-year.

  • Fannie Mae's Home Purchase Sentiment Index (HPSI) was unchanged in April: 67% of consumers indicated it's a good time to sell a home, while 20% said it's a good time to buy. These indicators are up 10% and 3% respectively since the end of 2023 - despite mortgage rates having moved steadily higher.

  • reports that the real estate brokerages are seeking final approval of their landmark settlements with homebuyers. Keller Williams, RE/MAX and Realogy are seeking final approval, while Berkshire's HomeServices of America has their final hearings set for November. In addition to the settlement payouts, NAR and the real estate firms have also agreed to changes their business practices.

  • The Federal Reserve Bank of New York released results from a recent study related to the Survey of Consumer Expectations (SCE) and the average expectations of residential mobility. The likelihood of moving to a different primary residence fell to a new series lows at both one-year (13.4%) and three-year (24.5%) horizons and fits a declining mobility trend observed since 2014. BlueBid is hard at work getting America moving again!

Have a great week.

Disclaimer: Views expressed here are my own and not the views of my coworkers or anyone else. I am not a financial advisor, investment advisor, or housing expert. I’m just a guy who cares deeply about saving the American Dream of homeownership.


bottom of page