Mortgage rates climb to highest level since 2009
Demand for purchase mortgages was down 17 percent last week compared to the same time a year ago, according to a weekly survey of lenders by the Mortgage Bankers Association on Wednesday
by Matt Carter Apr 27
How Twitter fought Elon Musk with a real estate investment strategy
The social network briefly turned to a poison pill to fight off the world's richest man. And as it turns out, poison pills have a long history in the real estate industry
by Jim Dalrymple II Apr 26
Home prices soared 20% annually in February. Analysts say we've peaked
Prices grew at the third-fastest annual pace in 35 years, according to the US National Home Price Index, released Tuesday. Since then, experts have observed early signs of a cooling market
by Daniel Houston Apr 26
The average Canadian home now costs double what it does in the US
Between 2020 and 2022 Canadian home prices have surged 30% — an increase described as 'nothing short of stunning' by economist Robert Hogue in a report for the Royal Bank of Canada
by Ben Verde Apr 26
New home sales hit 4-month low
New home sales took an 8.6% hit in March as rising home prices and mortgage rates made homebuyers think twice before purchasing a new home, according to new data released Tuesday
by Lillian Dickerson Apr 26
Bidding wars dip for first time in 2022 — but competition still fierce
New data from Redfin shows the market in March was slightly less brutal than one month prior
by Jim Dalrymple II Apr 25
Zillow changes tune on 2023 home values and sales. Here's why
Zillow now expects home value growth to reach 14.9% through March 2023, down from its previous estimate of 16.5% growth. What's with the downgrade?
by Lillian Dickerson Apr 22
Foreclosures hit post-pandemic high during first quarter of 2022
U.S. foreclosure activity hit a new high not seen since the start of the COVID-19 pandemic, as foreclosures continue to rebound following the lapse of federal moratoriums, according to data from Attom
by Lillian Dickerson Apr 21
Existing-home sales drop for second month as buyer demand stalls
Total existing-home sales dropped by 2.7% from February 2022 and by 4.5% from March 2021 to a seasonally adjusted annual rate of 5.77 million, according to the National Association of Realtors
by Lillian Dickerson Apr 20
'Modest recession' eyed in 2023, Fannie Mae economists predict
Home sales now expected to decline by 7.4% this year and 9.7% in 2023, a dramatic adjustment from March, when Fannie Mae forecast a 4.1% decrease in home sales this year and a 2.7% decrease in 2023
by Matt Carter Apr 19
US housing starts hit fastest pace in 16 years
Privately owned housing starts increased 0.3% from revised February figures to a seasonally adjusted annual rate of 1.79M, according to US Census Bureau data released Tuesday
by Lillian Dickerson Apr 19
view of construction site and house foundation in preparation process
Builder confidence dropped 2 points to 77 as builders contend with rising interest rates and costs, according to the National Association of Home Builders/Wells Fargo Housing Market Index
by Ben Verde Apr 18
A mortgage giant crunched 47 years of housing data. Here's what it found
The new Fannie Mae Home Price Index aims to capture a broader picture of the housing market. What it found was the fastest annual pace of home price growth in nearly half a century
by Matt Carter Apr 18
Despite March’s home sale slump, prices grow at fastest clip since 2013
Nearly 4% fewer homes sold in March than did the month before, after accounting for seasonal factors. Prices rose by 6%, the largest monthly price increase since 2013
by Daniel Houston Apr 15
Wells Fargo warns it will cut costs as mortgage lending continues to slide
Although Wells Fargo executives did not explicitly mention impending layoffs during a Q1 earnings call on Thursday, the company has been closing branch offices
by Matt Carter Apr 15
Lumber prices reach lowest 2022 level. But DIY projects already DOA
The price of lumber dropped to $829 per thousand board feet on Tuesday, a 39% drop from just a month earlier and 52% from May 2021, but it's still nearly double the pre-COVID rate
by Ben Verde Apr 14