Real Estate News 02/16/2024

Today’s News Synopsis:

Foreclosure Market Report, which shows there were a total of 33,270 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 5 percent from a year ago, and up 10 percent from the prior month.

In The News:

ATTOM Data – “U.S. Foreclosure Activity Sees Notable Increase in January 2024“ (02-13-24)

“Foreclosure Completion Numbers Increase Monthly in 19 States”

NAR –  “Migration Plays a Role in Restoring U.S. Population to Pre-Pandemic Levels” (02-06-2024)

“Every year, the U.S. Census Bureau publishes the Vintage population estimates, including international and domestic migration statistics. According to the recently published Vintage 2023 report, U.S. population trends are returning to pre-pandemic levels, resulting in the largest gains since 2018. ”

Redfin –  “January’s CPI Report Is Nail in the Coffin For March Interest-Rate Cut” (02-13-24)

“Inflation came in higher than expected in January, meaning mortgage rates should settle in the low 7s today. The March Fed rate cut is all but officially dead now.”

CNBC –  “Mortgage rates shoot to 2-month high after new report shows inflation is still hot” (02-16-2024)

“The average rate on the 30-year fixed mortgage jumped to 7.14%, according to Mortgage News Daily.”

NAR –  “Home Exteriors Try on 2024 Colors of the Year” (02-12-24)

“From darker grays to every shade of blue, Dzinly’s virtual platform offers an illustration of how some of the 2024 Colors of the Year could work on a home’s exterior.”