A real estate agent shows a home to a prospective buyer in Miami. Getty Images Mortgage demand continues to weaken, still right around a 22-year low, but there was a sign in the weekly numbers that fi...
Tag: Mortgages
Apartment rents are finally easing. Here’s how to play it
An Apartment For Rent sign seen in the Upper East Side of Manhattan. Adam Jeffery | CNBC Rent growth for apartments looks to have peaked after a tremendous run in 2021, and that could boost some of th...
Mortgage demand fell last week even as rates declined slightly
A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates fell slightly last week, but not enough to fuel ...
Homebuyers are backing out of more deals as recession fears linger
Rising costs and falling confidence in the U.S. economy are fast becoming a toxic cocktail for the housing market. As a result, a growing number of buyers are backing out of deals they’ve made w...
U.S. is in housing recession, homebuilders say
A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022. George Frey | Bloomberg | Getty Images Builder sentiment in the market for single-family home...
Wild swings in mortgage rates last week caused a rare surge in refinancing
An “Open House” sign at the Saratoga Homes Glendale Lakes community development in Arcola, Texas, on Tuesday, July 12, 2022. Mark Felix | Bloomberg | Getty Images After dropping at the end...
Consumer confidence in housing market hits lowest in over a decade
A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas. Ed Lallo | Bloomberg | Getty Images Consumer confidence in the housing market dropped to the lowest leve...
A ‘shakeout’ among mortgage lenders is coming
A sign hangs from a branch of Banco Santander in London, U.K., on Wednesday, Feb. 3, 2010. Simon Dawson | Bloomberg via Getty Images Banks and other mortgage providers have been battered by plunging d...
American Household Debt Hits Record $16.2 Trillion As Mortgages, Credit Card Spending Swell—Delinquencies Creep Up
Topline Bolstered by higher interest rates and inflation, total household debt rose to a record $16.2 trillion last quarter as credit card spending posted the biggest yearly spike in more than 20 year...
Home prices cooled at record pace in June, according to housing data firm
A sign is posted in front of a home for sale on July 14, 2022 in San Francisco, California. The number of homes for sale in the U.S. increased by 2 percent in June for the first time since 2019. Justi...
Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on...
Here’s Everything That Will Cost More As Fed Raises Interest Rates
Topline The Federal Reserve on Wednesday again authorized one of the biggest interest rate hikes in 28 years as part of its effort to combat the quickest surge in prices in four decades—doubling down ...
Pending home sales fell 20% in June as mortgage rates soared
A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Signed contracts to purchase existing homes dr...
Mortgage demand declines further, even as interest rates drop a bit
A prospective home buyer is shown a home by a real estate agent in Coral Gables, Florida. Joe Raedle | Getty Images Mortgage demand edged lower for the fourth straight week, according to data released...
Homebuilders boost incentives as they suddenly struggle to sell homes
Contractors work on the roof of a house under construction in the Stillpointe subdivision in Sumter, South Carolina, on Tuesday, July 6, 2021. Micah Green | Bloomberg | Getty Images After two years of...
Home price growth slowed in May, S&P Case-Shiller says
New homes under construction in Tucson, Arizona. Rebecca Noble | Bloomberg | Getty Images Home prices in May were 19.7% higher compared with the same month last year, according to the S&P CoreLogi...
June home sales fall 5.4% from May, as prices set yet another record
A sign is posted in front of a home for sale on July 14, 2022 in San Francisco, California. Justin Sullivan | Getty Images Sales of previously owned homes in June fell 5.4% from May, according to a mo...
Mortgage demand drops to lowest level in 22 years
Daniel Acker | Bloomberg | Getty Images The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last w...
Homebuilder sentiment takes historic plunge in July
A contractor works on a new home under construction in Tucson, Arizona, U.S., on Tuesday, Feb. 22, 2022. Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, in...
These are the 10 cities seeing the most price cuts for homes
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some citi...
Jamie Dimon rips Fed stress test as ‘terrible way to run’ financial system
Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018. Janvhi Bhojwani | CNBC JPMorgan Chase CEO Jamie Dimon didn’...
Chinese Homebuyers Across 22 Cities Refuse to Pay Mortgages
(Bloomberg) — Across China, homebuyers are refusing to pay mortgages as property developers drag on construction projects, escalating the country’s real estate crisis and risks of bad debt for b...
Homebuyers are canceling deals at highest rate since start of Covid
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjus...
Mortgage demand sinks even as rates drop
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Mortgage rates dropped for the second week in a row, but that didn’t ...
Metropolitan areas with the most million-dollar homes
Historic row houses in Columbia Heights neighborhood of Washington. amedved | iStock | Getty Images Million-dollar homes aren’t common in the U.S., but you’re more likely to find these pro...
High Volatility Causes a Risk to Crypto-Backed Mortgages: Citigroup
Wall Street giant Citigroup released a new report on cryptos-backed mortgages as an alternative for financing properties. The document laid out the benefits of such a financial innovation and the pote...