Mortgage rates go flying with the highest jump since 1987 — and still housing prices may keep on rising U.S. mortgage rates jumped more than half a percentage point this week, an increase not seen in ...
Tag: Housing
The Housing Market Just Hit a Wall. What’s Next for Prices, Brokers, and Builder Stocks.
My summer portfolio strategy is to play the old disco hit “Baby Come Back” while slow dancing with my December brokerage statements. If it works, I have a business idea involving Hall, Oates, and a tw...
A housing market reset has become ‘a bit more than that’
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, June 17, 2022 Today’s newsletter is ...
Housing Market ‘In Free-Fall’ As New Construction Plummets—Here’s When ‘Reset’ Could Cool Prices
Topline New housing starts unexpectedly plunged much more than economists projected—and for a second-straight month—in May, according to data released Thursday, adding to signs of an abrupt turnaround...
Home builder stock slump as U.S. housing starts falling faster than expected
On Thursday, June 16, home builders’ stocks dropped markedly after data came in lower for May by 14.4%. Currently, the annualized units stand at 1,549 million, despite the readings for April being the...
Housing Market Could ‘Torpedo’ U.S. Economy, Expert Warns
Topline Mortgage rates have surged higher this week as markets digest more aggressive interest-rate hikes from the Federal Reserve, and with the average 30-year fixed mortgage rate hitting its highest...
Homebuilder sentiment drops to lowest level in 2 years as housing demand slows
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Ima...
Here’s how recessions became an inevitable part of American economy
The U.S. has experienced at least 30 recessions throughout history, dating back as early as 1857. Some economists argue that they may have become an inevitable part of the financial cycle that fluctua...
Mortgage demand is now roughly half of what it was a year ago, as interest rates move even higher
Total mortgage application volume was 52.7% lower last week than the same week one year ago, according to the Mortgage Bankers Association’s seasonally adjusted index. Sharply rising interest ra...
The housing market ‘correction’ intensifies as layoffs hit Redfin and Compass. This interactive map explains why
On Tuesday, layoffs hit two of the biggest names in real estate. First, Redfin announced it’s laying off 8% of its staff. Then Compass, one of the nation’s largest residential brokerages, announced it...
Inflation and Fed sparking one way trip to market misery: Jim Bianco
Until inflation peaks and the Federal Reserve stops hiking rates, market forecaster Jim Bianco warns Wall Street is on a one way trip to misery. “The Fed only has one tool to bring in inflation ...
Compass, Redfin Shed Workers Amid Bleak Housing Market
Topline The real estate brokerages Compass and Redfin announced large layoffs Tuesday as housing demand plummets, causing their shares to tumble. Pictured is a house listed for sale with a Compass sig...
30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago
Jb Reed | Bloomberg | Getty Images Mortgage rates jumped sharply this week, as fears of a potentially more aggressive rate hike from the Federal Reserve upset financial markets. The average rate on th...
Real estate firms Compass and Redfin announce layoffs as housing market slows
Real estate firms Redfin and Compass are laying off workers, as mortgage rates rise sharply and home sales drop. In filings with the Securities and Exchange Commission, Compass announced a 10% cut to ...
Fed’s inflation battle to worsen market turmoil: Canaccord’s Dwyer
Stocks may go into a deeper tailspin. Canaccord Genuity’s Tony Dwyer predicts 1980s-era interest rate hikes will exacerbate the turmoil and make a recession seem increasingly more likely. “...
The economic shock hitting the housing market is getting bigger—6% mortgage rates look close
The good news: The Federal Reserve has the instruments necessary to rein in runaway inflation. The bad news: Those instruments are, well, blunt and will hit some sectors harder than others. Among the ...
Mortgage prepayments have fallen 62% from a year ago. This is what that says about the housing market.
Ultimately, as long as buyers are able to keep up with their regular monthly payments, fewer people making extra mortgage payments probably isn’t going to have a massive impact on the broader housing ...
Big landlords jump into the homebuilding as demand for single-family rentals surges
Jake and Stephanie Murphy are moving into a new single-family rental home built by American Homes 4 Rent. Diana Olick | CNBC Real Estate Correspondent As demand for single-family rental homes surges, ...
Jack Dorsey and Jay-Z Launch New ‘Bitcoin Academy’ To Provide BTC Education to Brooklyn Public Housing Residents
Jack Dorsey and Jay-Z are funding a new “Bitcoin Academy” to provide free blockchain education for residents of the public housing project Jay-Z grew up in. Residents of Marcy Houses in Brooklyn will ...
Softer Housing Sales Are Hammering Demand for Lumber
Inflation and rising mortgage costs are putting a dent in the housing market, which is hurting lumber demand. Frederic J. Brown/AFP/Getty Images Text size You can almost hear the sound of falling lumb...
Has House 3D Printing Finally Made It?
Outside of the additive manufacturing (AM) industry, one will often see the concept of additive construction referred to as “house 3D printing” or “3D printed construction.” Just see the results of th...
Americans Lost $544 Billion And Racked Up Debt Last Quarter As Stocks Collapsed And Housing Prices Spiked
Topline Dragged down by the stock market’s worst quarter since the Covid-induced recession two years ago, the combined net worth of U.S. households tumbled by $544 billion in the first quarter, ...
Three signs the US housing boom is petering out — Quartz
Homebuyers are dropping out of the US housing market as higher interest rates price them out Industry data—as well as anecdotal evidence—point to a sharp slowdown in the housing boom triggered by the ...
Lumber Price Gets Chopped in Half Amid Chill in Housing Markets
Motley Fool We’re Not in a Housing Bubble — but We Could Be If This Happened To say that today’s housing market is a tough one to crack would be an understatement. Based on the way t...
Mortgage demand falls to the lowest level in 22 years
Mortgage rates are back on the upswing, after a brief decline in May, and the housing market is still suffering from a lack of listings. As a result, mortgage demand continues to drop. Total mortgage ...
Nobel Laureate Paul Krugman Compares Crypto to Housing Bubble and Subprime Crisis – Economics Bitcoin News
Nobel Prize-winning economist Paul Krugman has compared the current state of cryptocurrency to the housing bubble and the subprime mortgage crisis. Noting that crypto lacks any real value, he said: “i...
Modular Housing’s Potential Unleashed By Innovative Process And Design
The Liv-Connected modular home can be flat packed and shipped across the country and then assembled … [+] in a matter of hours. Chris Coe Homes are built with hundreds or thousands of different ...
Home affordability has ‘collapsed’ in 2022. What to expect next, according to BofA
The double whammy of surging mortgage rates and skyrocketing home prices has led to “collapsed” housing affordability in America, according to Chris Flanagan’s team at BofA Global Research. The situat...
Hot Housing Market Keeps Home Foreclosures at Bay
The U.S. moratorium on home foreclosures ended nearly a year ago, but the sizzling housing market is still protecting many delinquent mortgage borrowers from losing their homes. The pandemic that wipe...