The numbers: Mortgage applications fell by 13.2% to close off the last two weeks of 2022. Mortgage applications are now at the lowest level in 27 years. The real-estate market Read more
Tag: housingmarket
U.S. pending home sales fall 4% in November to the lowest level since April 2020
The numbers: U.S. pending-home sales fell 4% in November, which is the sixth straight monthly drop, according to the index released Wednesday by the National Association of Realtors (NAR). The Read more
U.S. new home sales rose in November by 5.8%
The numbers: U.S. new home sales rose 5.8% to a seasonally-adjusted rate of 640,000 in November, from a revised 605,000 in the prior month, the Commerce Department reported Friday. The Read more
New homeowners and renters are hit hard by October inflation — here’s how they’re cutting back on expenses to beat rising costs
Inflation is cooling, but shelter makes up the lion’s share. Headline inflation fell by more than expected last month. In October, prices rose by 7.7% on the year in the Read more
The median income needed to buy a typical home is over $88,000 — $40,000 more than prior to the pandemic
Home price growth in big cities has slowed, but not stalled, in the third quarter, according to a new report from the National Association of Realtors (NAR). The NAR, which Read more
‘The housing market will get smaller in 2023’: Redfin lays off 13% of staff
Redfin RDFN, -8.10% is laying off staff again, as the housing market continues to hurt from high mortgage rates and low demand. Redfin CEO Glenn Kelman said on Wednesday that Read more
Mortgage refinancing demand falls to lowest level since 2000
The numbers: Mortgage rates remain above 7%, slowing demand for refinancing and dragging overall mortgage demand down for the seventh week in a row. Mortgage applications fell 0.1% this week, Read more
Rate squeeze: Commercial-property CLO issuance tumbles 80% from peak
Issuance of a newer breed of real estate bonds designed to finance riskier commercial properties for short stretches has tumbled 80% from a $16.5 billion first-quarter peak, according to DRBS Read more
Credit carnage spurs bargains on bonds tied to $16 trillion pile of U.S. household debt
Big bargains have made a roaring comeback on bonds tied to the $16.2 trillion pile of U.S. consumer debt. Higher borrowing costs, tighter credit conditions and sharp losses have been Read more
‘Incentives come in many forms’: Here are ways to lower your mortgage rate, according to this mortgage company CEO
Mortgage rates are double where they were a year ago, making home buying a much more costly endeavor. Home sellers are trying to help them out. Buyers are not feeling Read more