Topline President Joe Biden on Monday released a $5.8 trillion budget proposal for the upcoming fiscal year packed with Democratic legislative priorities such as affordable housing and healthcare, in ...
Tag: Housing
Mortgage rates keep spiking, freaking out an anxious housing market
Think 4% was bad? Mortgage rates are shooting up even further. It’s rattling a housing market that is barely accustomed to perpetually skyrocketing prices, but at least had a mortgage rate of 3%...
Mortgage rate soars closer to 5% in its second huge jump this week
The rate for the most common kind of mortgage just surged again. The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage...
Home sales fall in February ahead of key spring selling season
A home with a sign indicating that it is under contract to be sold is seen in a neighborhood of downtown Washington. Jim Bourg | Reuters In a grim sign for the housing market’s busiest season, p...
Why Housing May Not Get as Hammered as Usual in This Rate Hike Cycle
Traditional home buyers are sure to be pinched by rising mortgage rates, but better-financed investors could keep prices rising. Here, a home for sale in Houston last summer. Brandon Bell/Getty Images...
New Home Sales Fell In February As Plunging Affordability Poses ‘Challenging Year’ For Housing Market
Topline New home sales unexpectedly fell last month to the lowest level since November, continuing a recent slowdown in the red-hot housing market, but economists aren’t convinced the decelerati...
Mortgage refinance demand plunges 14%, as interest rates spike higher
A sharp increase in mortgage interest rates is taking its toll on loan demand, especially refinances. Total mortgage application volume fell 8.1% last week compared with the previous week, according t...
Mortgage rates are surging faster than expected, economists lower home sales forecasts
A home is offered for sale on January 20, 2022 in Chicago, Illinois. Scott Olson | Getty Images The average rate on the popular 30-year fixed mortgage hit 4.72% Tuesday, moving 26 basis points higher ...
Could housing crack before inflation does?
This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. Last week ended up being the strongest for sto...
‘Reduced competition.’ 5 predictions for the housing market in 2022, from economists and real estate pros
We’ve already seen rates rise in the early months of 2022, and some pros say that will continue. Getty Images Aspiring home buyers may have watched as mortgage rates in recent months rose (though to b...
Older Americans, Flush With Housing and Stock Portfolio Wealth, Poised to Revive Spending This Year
Covid-19 kept many older Americans on the sidelines of the recovery in consumer spending as they held back from in-person services like dining and travel. But their spending is picking up as the Omicr...
More than 70% of savers are worried that inflation will affect their ability to retire
Inflation just hit its highest level in 40 years. Future inflation expectations have risen by a third in 12 months. And the federal government’s own “inflation protected” bonds, which were designed to...
Single-family rent sets record, led by homes in Florida and Arizona
A house for rent in Corona Del Mar, California. Scott Mlyn | CNBC Demand for single-family rental homes is soaring, pushing prices to record highs, as Americans continue to want larger homes with outd...
There’s ‘nowhere to hide’ for consumers as inflation hits food, gas, housing
David Sacks | Getty Images Consumer prices are rising at their fastest pace in decades — and that inflation has been most acute in household staple items like food, housing and transportation, making ...
Brief drop in mortgage rates sparks mini refinance boom
A single family home is shown for sale in Encinitas, California. Mike Blake | Reuters After rising steadily for months, mortgage rates made a U-turn last week, and borrowers jumped to take advantage. ...
How the Federal Reserve could cut its near $9 trillion balance sheet as it fights inflation
Slimming down might be the trickiest part after two years of the pandemic. As the Federal Reserve looks to shrink its near $9 trillion balance sheet to help cool U.S. inflation pegged at a 40-year hig...
Permitting More Housing Positively Impacts Housing Price
More permits mean more housing and lower prices and rents. getty Last week I wrote about my exasperation at trying to get data from cities about the time it takes to produce a housing unit. Isn’t ther...
Why Did Mortgage Rates Fall Again? How Ukraine and Russia Affect Housing.
Text size The average rate on a 30-year fixed mortgage rate fell to 3.76% this week. Dreamstime.com Mortgage rates fell for a second consecutive week after Russia’s invasions of Ukraine triggered a fl...
When Preservation Is Really Housing Inflation
The Home of Washington, Mount Vernon, Va., pub. circa 1857 (colour lithograph). Preservation is … [+] important but so is common sense. Getty Images Last month I posted a series about how compli...
Weak mortgage demand could get a big boost
A house’s real estate for sale sign shows an upcoming open house in Washington, DC. Saul Loeb | AFP | Getty Images Mortgage demand stalled last week, as interest rates hit a multiyear high, but ...
Airbnb Looking to Support Crypto While Focusing on Free Housing for 100,000 Ukrainian Refugees – Featured Bitcoin News
Airbnb confirms that it is looking to support cryptocurrency. The company has also offered to provide housing for up to 100,000 Ukrainian refugees. According to the European Union, about four million ...
How Long Does It Take To Build Housing?
(Original Caption) Dori Sonenschein, 6-years-old, of 172 East 44th Street, eating a Tootsie Roll. Bettmann Archive Last month I posted a series about the difficulty and expense of creating new housing...
Homeowners hold record equity. What to know if you want to borrow
New homes under construction by CastleRock Communities in Kyle, Texas, in November 2021. Matthew Busch | Bloomberg | Getty Images Record increases in home prices are also pushing up the amount of equi...
U.S. is top safe haven amid Russia-Ukraine war: Blackstone’s Joe Zidle
The world’s leading private equity firm suggests the U.S. the ultimate safe haven play. According to Blackstone’s Joseph Zidle, it’s largely insulated from the Russia-Ukraine war fal...
Hong Kong Billionaire Edwin Leong Takes The Long View On Housing
Patience is what matters to Hong Kong billionaire Edwin Leong’s venture into residential development. And with a net worth of $4.4 billion, the founder and chairman of Tai Hung Fai Enterprise can affo...
Housing prices and interest rates ‘aren’t going back down,’ expert says
Mortgage rates surged to the highest level in two years, leaving homebuyers on high alert as further increases loom. “Things aren’t going back down,” DLB Financial Services CEO Debbie Boyd told Yahoo ...
January home sales jump 6.7% despite a record low supply
A sold sign is posted in front of a home in Phoenix, Arizona. Justin Sullivan | Getty Images Sales of previously owned homes in January rose 6.7% from December to a seasonally adjusted annualized rate...
Weekend reads: the slowing housing market and inverted yield curve signal a coming recession
It is human nature to fear missing out as prices skyrocket, But all bubbles burst eventually. Ian Shepherdson of Pantheon Macroeconomics predicts a 25% decline in U.S. home sales. What will that do to...