Mortgage demand fades as buyers watch rates hit 2-decade high
Fed's 'higher for longer' rate strategy drives yields on long-term Treasurys higher, and mortgage rates follow to highest levels in over 20 years, MBA lender survey shows
by Matt Carter Sep 27
Glenn Kelman sees silver lining in sales spiral: 'It can't go much lower'
Redfin CEO Glenn Kelman said Tuesday on CNBC that as sales continue to decline, the company will need to cut costs strategically and respond to economic challenges one day at a time
by Lillian Dickerson Sep 27
August new-home sales plummet amid interest, affordability woes
Sales of newly built homes dropped 8.7% in August to a seasonally adjusted annual rate of 675,000
by Ben Verde Sep 26
Better cuts mortgage sales team 2 weeks after $500M SPAC raise
The lender has become more reliant on its B2B channel, with partnerships alongside companies like Ally Bank and American Express accounting for nearly half of its mortgage originations
by Matt Carter Sep 25
Serious mortgage delinquencies could bounce from 17-year low
Early-stage delinquencies have increased for 3 months in a row, suggesting that delinquency rates may be nearing a bottom, according to Black Knight's first look at August mortgage data
by Matt Carter Sep 25
Bombshell, mutiny, mild recession: Catch up with Inman's Top 5
With Inman Top 5, you'll find the most essential stories, chosen by our readers. Here are the most-read stores of Sept. 15-21, 2023
by Dani Vanderboegh Sep 22
Surprisingly strong jobs report sends interest rates soaring
Drop in unemployment claims on the heels of hawkish Fed warnings sends 10-year Treasury yields soaring to a 15-year high, with mortgage rates likely to follow
by Matt Carter Sep 21
Existing-home sales fall off 0.7% led by Southern, Western markets
Sales of existing homes slid 0.7 percent between July and August to a seasonally adjusted annual rate of 4.04 million but held steady in the Northeast and rose in the Midwest
by Ben Verde Sep 21
Fed stays put but is prepared to hike rates one more time this year
Treasury yields, a barometer for mortgage rates, barely budged Wednesday as bond market investors look ahead to next year when the Fed is expected to start bringing rates back down
by Matt Carter Sep 20
Demand for purchase loans picks up, but so do mortgage rates
Applications for FHA mortgages and conforming loans backed by Fannie Mae and Freddie Mac were up last week even as rates crept back toward 2023 highs seen in August
by Matt Carter Sep 20
Homebuilder confidence tanks as mortgage rates rise
Builder sentiment for newly built single-family homes slid five points to a score of 45, the second straight month of steep decreases
by Ben Verde Sep 20
Mild recession, elevated mortgage rates eyed in 2024: Fannie Mae
Fannie Mae economists predict 'mild recession' in H1 2024, while continued strength in the economy could keep mortgage rates from coming down as much as previously expected
by Matt Carter Sep 18
Buyers cancel contracts in droves as prices and interest rates soar
Nearly 60,000 home purchase contracts were canceled nationwide during August, even when it meant losing their earnest money deposits, according to Redfin's report
by Ben Verde Sep 18
Return-to-office policies aren't the only reason people are moving
In-office requirements were identified as an emerging factor in the real estate market, as fewer and fewer companies are willing to accommodate remote work, according to a report by Redfin
by Ben Verde Sep 14