Racial Minority Groups Increased Their Homeownership Rates While Still Facing Significant Homebuying Challenges

Key Highlights U.S. homeownership significantly increased over the last decade, adding 10.5 million more homeowners. The Hispanic American homeownership rate rose to a record high of 51.1% in 2022. In the past decade, Asian Americans experienced the sharpest increase in homeownership rate, reaching

Instant Reaction: Housing Starts, February 16, 2024

Housing starts collapsed in January. More snow than usual fell across parts of the country, but the seasonally adjusted data implies a continuing housing shortage ahead. Multifamily construction fell 37% from a year ago and has been one of the lowest monthly activities over the past decade. Rising a

Instant Reaction: Mortgage Rates, February 15, 2024

Mortgage interest rates for the 30-year fixed mortgage averaged 6.77% this week, up from 6.64% last week based on Freddie Mac data. While mortgage interest rates have edged up weekly, the overall trajectory from fall 2023 is down and is now a full percentage point below the recent high. For home buy