Housing
Hong Kong leader announces measures to address housing crisis in annual policy address
Hong Kong Chief Executive John Lee Ka-chiu delivers his annual policy address at the Legislative Council on Oct. 16, 2024 in Hong Kong. China News Service | China News Service | Getty Images Hong Kong chief executive John Lee announced moves aimed at addressing the city’s housing affordability crisis, calling it “an issue of great […]
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Weekly mortgage demand drops as interest rates hit the highest level since August
A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images An abrupt turn higher for mortgage interest rates caused weekly demand from both potential homebuyers and current homeowners to drop. Total mortgage application volume fell 5.1% last […]
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Zillow adds climate risk data to home listings as threats rise
Insured losses for Hurricane Helene are now estimated at over $6 billion, but the uninsured losses are far higher. That’s because the vast majority of homes impacted by the storm, especially in hard-hit North Carolina, did not have flood insurance. New risk-assessment technology is designed to help change that for the future. Most homeowners in […]
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Mortgage rates spike after stronger-than-expected jobs report
A home for sale in Austin, Texas, on May 22, 2024. Brandon Bell | Getty Images The average rate on the 30-year-fixed mortgage jumped 27 basis points Friday morning following the release of the government’s monthly employment report. The rate is now 6.53%, according to Mortgage News Daily. That is 42 basis points higher than […]
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Red hot refinance demand retreats after tiny bump higher in mortgage rates
Skynesher | E+ | Getty Images Mortgage rates moved ever so slightly higher last week, but it was enough to take a little heat out of what had been a briefly red hot refinance market. That caused total mortgage application volume to fall 1.3% for the week, according to the Mortgage Bankers Association’s seasonally adjusted […]
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States forge ahead with Inflation Reduction Act energy rebates — so far, South Dakota is the only one to opt out
Key Points The Inflation Reduction Act created two consumer rebate programs tied to energy efficiency. They’re respectively worth up to $8,000 and $14,000 for consumers, depending on criteria like income and specific efficiency-related upgrades or purchases. Arizona, Maine, New York, New Mexico, Rhode Island and Wisconsin started rolling out their rebate programs. Many others have […]
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China property stocks rally after major cities ease homebuying restrictions
A man walks past a housing complex by Chinese property developer Evergrande in Guangzhou, China’s southern Guangdong province on September 17, 2021. Noel Celis | Afp | Getty Images Shares of Chinese property developers rallied on Monday after major cities in mainland China unveiled easing measures to boost homebuyer sentiment, following the central bank’s blitz […]
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Hong Kong’s New World Development shares surge 23% after CEO resigns
Signage at the New World Tower, which houses the headquarters of New World Development Co., in Hong Kong, China, on Thursday, Sept. 26, 2024. New World Developmen suspended trading of its shares in Hong Kong on Thursday morning. Bloomberg | Bloomberg | Getty Images Shares of Hong Kong’s major developer, New World Development surged over […]
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Mortgage refinance boom takes hold, as weekly demand surges 20%
A steady decline in mortgage rates to two-year lows has current homeowners rushing to take advantage of potential savings. Applications to refinance a home loan surged 20% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was a stunning 175% higher than the same week one year […]
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Britain’s Rightmove rejects $8.1 bln sweetened bid from Australia’s REA Group
The Rightmove Plc app on an App Store page on a smartphone arranged in London, UK, on Monday, Sept. 2, 2024. Bloomberg | Bloomberg | Getty Images British real estate portal Rightmove on Wednesday rejected a sweetened $8.1 billion takeover proposal from Australian property listing firm REA Group, saying the bid undervalued the company. “The […]
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