Vacation Home Demand Below Pre-Pandemic Levels

forbes forbes | 1 year ago

Demand For Vacation Homes Is Now Below Pre-Pandemic Levels The pandemic-fueled vacation home buying frenzy is beginning to fizzle. getty The pandemic-fueled vacation home buying frenzy is beginning to fizzle. The sad thing about vacations is that no matter how much fun you’re having, they have to end. Just consider that demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years. Sky-high home prices and surging mortgage rates, a...

Purchase rate locks drop below pre-pandemic levels

In-depth analysis, data and st... In-depth analysis, d... | 1 year ago

July's purchase rate lock activity fell to a low not seen since COVID-19 arrived in the United States, according to data from the Black Knight Optimal Blue product and pricing engine.The rate at which homebuyers locked in their financing costs during the month was 11% slower than it was prior to the pandemic and down 28.5% from a year ago despite the fact that financing costs tracked by Black Knight were down 49 basis points from June."Although 30-year interest rates actually pulled back slight...