Housing
Home sales fell to a 13-year low in October as prices rose
This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of […]
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Homebuilder sentiment drops to lowest point in a year, but falling rates spur some optimism
High mortgage rates continue to weigh on the nation’s homebuilders, leading to an increase in price cuts to lure buyers. But builders are cautiously optimistic about recent signs that interest rates may move lower soon. Homebuilder sentiment fell six points to 34 in November on the National Association of Home Builders/Wells Fargo Housing Market Index […]
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Mortgage demand climbs to the highest level in five weeks after interest rates move lower
Potential homebuyers attend an open house in Seattle. Mike Kane | Bloomberg | Getty Images Current homeowners and potential homebuyers are responding to lower mortgage rates, albeit slowly. Mortgage demand rose 2.8% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the second straight week of […]
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German housebuilding is collapsing — and could drag the overall economy down with it
A building web page of residential structures on the Elbe dike in the vicinity of downtown Wittenberg. Soeren Stache | Photograph Alliance | Getty Illustrations or photos Germany’s Olaf Scholz once set the aim of building 400,000 new residences a yr, even right before he turn out to be chancellor. Quick ahead two years, and […]
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Cooler monthly inflation report pushes mortgage rates even lower
An aerial view of existing homes near new homes under construction (UPPER R) in the Chatsworth neighborhood on September 08, 2023 in Los Angeles, California. Mario Tama | Getty Images The average rate on the 30-year mortgage fell 18 basis points to 7.40% on Tuesday, according to Mortgage News Daily, as Wall Street lowered its […]
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Mortgage rates plunge and demand finally inches back
House for sale in Millbrae, California. Xinhua News Agency | Xinhua News Agency | Getty Images Mortgage rates saw the biggest one-week drop in over a year last week, causing the first increase in mortgage demand in a month. Total mortgage application volume rose 2.5% last week, compared with the previous week, according to the […]
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National Association of Realtors CEO quits earlier than expected after federal lawsuit loss
A “For Sale” sign outside a house in Edmonton, Alberta, in Canada on Oct. 22, 2023. Nurphoto | Nurphoto | Getty Images The National Association of Realtors announced Thursday that CEO Bob Goldberg will resign earlier than expected, as the group contends with the fallout from a federal lawsuit and a harassment scandal. The leadership […]
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Major landlords, RealPage sued in DC for alleged rent-fixing scheme
In this photo illustration AvalonBay Communities, Inc. logo seen displayed on a smartphone and in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Washington, D.C., Attorney General Brian Schwalb’s office said Tuesday that it’s suing RealPage, a property management software company, and 14 of the […]
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Adjustable-rate mortgage demand jumps nearly 10% as buyers struggle to afford housing market
A house is for sale in Arlington, Virginia, July 13, 2023. Saul Loeb | AFP | Getty Images As mortgage rates hover near the highest level in more than two decades, homebuyers are turning to riskier mortgage products to help them get into a home. Last week, the average contract interest rate for 30-year fixed-rate […]
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Hong Kong’s home prices is not going to pop any time quickly. Here is why
Residential buildings in Hong Kong, China on October 23, 2023. Vernon Yuen | Nurphoto | Getty Photographs Hong Kong’s chief John Lee this 7 days eased the city’s decade-aged residential residence cooling actions — but questions keep on being on no matter whether it is really ample to enhance market sentiment and reduced transaction volumes […]
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