Wood Markets News


Homes Selling at Slowest Pace Since April 2020

Redfin reported on Friday that homes are selling at their slowest pace since April 2020. In the four-week period ending on January 8th, the typical home sold was on the market for 44 days, which in turn has led to the largest annual inventory increase on record.

Fixed-Rate Mortgages Move Lower

Freddie Mac has released its Primary Mortgage Market Survey® for the week ending January 12, 2023. The 30-year fixed-rate mortgage averaged 6.33%, down from last week when it averaged 6.48%. A year ago at this time, the 30-year rate averaged 3.45%.

US Weekly Jobless Claims Decline

The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 205,000 during the week ending on Saturday, January 7, 2023. This is a decrease of 1,000 from the previous week’s revised level of 206,000 (originally reported as 204,000).