The Bureau of Economic Analysis (BEA) released the second estimate of real GDP growth in the first quarter of 2017. Economic activity expanded at a 1.2% seasonally adjusted annual rate, an upward revision from the previous 0.7% estimate. This estimate is based on more complete data than was available for the “advance” estimate. Real GDP grew at a 2.1% rate... Read More ›

NAHB recently released its latest projections of spending on improvements to owner-occupied housing by zip code. The projections show total spending on improvements, the number of owner-occupied homes, as well as average spending per improvement, in each of over 26,000 zip codes for calendar year 2017. The estimates are based on a model relating improvement spending to five key variables:... Read More ›

The Multifamily Production Index (MPI) dropped seven points to 48 in the first quarter of 2017, according to the National Association of Home Builders (NAHB). The last time the MPI had a reading below 50 was in the fourth quarter of 2011 (Figure 1). Figure 1: NAHB Multifamily Production Index (MPI) and Multifamily Starts (in thousands) The MPI measures builder... Read More ›

Beyond confirming that if economic activity continues to unfold as expected another increase in the federal funds rate would be appropriate soon (June), the minutes from the May meeting of the Federal Open Market Committee (FOMC) added relatively little to the picture of the path of monetary policy that was laid out in the post-meeting statement and previous policy discussions.... Read More ›

The volume of residential construction loans increased by 1.6% during the first quarter of 2017, marking 16 consecutive quarters of growth. However, the growth rate for lending during the fourth quarter of 2016 and the start of 2017 were the slowest since early 2013. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan... Read More ›

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Seattle is one of the hottest markets in the country, putting sellers in the driver's seat. Here's what it's like trying to buy a home in the area.

In the market for a new home? Or planning to refinance? Find out what your monthly payment will be.

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Despite the Federal Reserve increasing interest rates, mortgage rates have dropped to the lowest level this year.