Real estate
September home sales drop to the lowest level since the foreclosure crisis
Sales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association of Realtors. Sales were 15.4% lower compared with September 2022. This is the slowest sales pace since October 2010, during the Great Recession, when the market was in the […]
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The 30-year fixed mortgage rate just hit 8% for the first time since 2000 as Treasury yields soar
JB Reed | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage rate hit 8% Wednesday morning, according to Mortgage News Daily. That is the highest level since mid-2000. The milestone came as bond yields soar to levels not seen since 2007. Mortgage rates follow loosely the yield on the 10-year […]
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Bad news for commercial real estate: Architects report a big drop in business
Construction workers erect a building in downtown Miami, Florida, on June 14, 2023. Jim Watson | AFP | Getty Images Architecture firms reported a sharp drop in business in September, indicating that the commercial real estate market could see even more pain in the next year. The AIA/Deltek Architecture Billings Index dropped to 44.8 in […]
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Mortgage demand falls to the lowest level since 1995 as interest rates near 8%
Signage is seen at The Collection at Morristown, a housing development by Lennar Corporation, in Morristown, New Jersey, November 13, 2021. Andrew Kelly | Reuters Mortgage rates last week rose for the sixth straight week, causing demand for home loans to drop to the lowest level since 1995. Total application volume fell 6.9% compared with […]
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Homebuilder sentiment drops to 10-month low, as mortgage rates soar
A contractor works on a new home under construction in Tucson, Arizona, on Tuesday, Feb. 22, 2022. Rebecca Noble | Bloomberg | Getty Images Builder confidence in the market for single-family homes dropped to the lowest level since January, as builders contend with a market dominated by high mortgage rates and costs for financing. The […]
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Starboard CEO makes case for spinning off real estate assets from WSJ owner News Corp
Activist investment firm Starboard Value is pushing for change at News Corp. – in particular to see its real estate business separated from the rest of the company. Starboard CEO Jeffrey Smith told CNBC’s David Faber on Tuesday that the firm is building a position in News Corp. and has been in discussions with the […]
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State Garden attracts closer to credit card debt deadline, as default risk looms
Country Backyard garden shares tumbled to fresh 8-thirty day period lows Monday, extending losses on renewed debt fears for the Chinese home sector. Long run Publishing | Long term Publishing | Getty Photographs All of State Back garden‘s offshore personal debt could perhaps be in default if the Chinese assets developer fails to make a […]
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Google is opening a cafe, retail store and party house to the standard community around its headquarters
Google has opened its initially west coast customer Experience” heart which is situated by its Mountain View headquarters. Mark Wickens Google is opening a sliver of its most important campus to the general public starting off this week. The firm opened its doorways to what it’s calling its “Customer Experience” middle the public Thursday, following […]
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Getting to 2% inflation will not be effortless. This is what will will need to occur, and it could possibly not be pretty
A design in a multifamily and single household residential housing elaborate is shown in the Rancho Penasquitos neighborhood, in San Diego, California, September 19, 2023. Mike Blake | Reuters In idea, obtaining inflation nearer to the Federal Reserve’s 2% concentrate on does not seem terribly hard. The major culprits are related to products and services […]
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Adjustable-rate mortgage demand spiked last week. Here’s why.
A house for sale in Arlington, Virginia, in July of 2023. Saul Loeb | AFP | Getty Images The average rate on the 30-year fixed mortgage rose to the highest level since 2000 last week, but rates on adjustable-rate mortgages fell. That caused a run on these so-called ARMs, pushing total mortgage application volume very […]
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