WS1140: Weekly Investor Update: November 28 to December 4, 2021

Pending home sales jump 7.5% in October

More buyers have signed contracts to purchase homes much sooner due to fast-increasing rents and expectations of mortgage rate hikes. 

Mortgage rates rise for third consecutive week

Mortgage rates rose to 3.31%, reducing the refinance incentive for many borrowers.

More homebuyers can now qualify for more expensive loans

The baseline conforming loan limit for 2022 will be $647,200, up nearly $100,000 from last year's limit. 

Analysts: Take advantage of the housing market now

With the record-low mortgage rates and more robust economic fundamentals this year, market analysts recommend that homebuyers and homeowners must swiftly act now. 

Unemployment benefit claims lowest since 1969

Weekly jobless claims dropped to 199,000 last week, hitting the lowest level since 1969. 

More multifamily investors consider the student housing

The first three quarters of 2021 saw $4.85 billion in multi-family investment. Student housing is now making a comeback as more students return to campus.

Suburban home rush still strong

The number of home buyers shopping nationwide for suburban homes has jumped 42.1% since the pandemic began. 

Best cities for singles

Madison, WI tops the list of 180 cities for its dating opportunities and a large number of options for fun and recreation.

Consumers: homeownership better than a dream wedding

Eighty-two percent of single consumers favor homeownership over having an expensive wedding.

2022 Housing Market Forecast

Home sales growth will reach 6.6% in 2022, which is a 16-year high for nationwide sales, according to a real estate firm.

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