Real estate stocks were the second best-performing sector in the S&P 500 Index on Thursday after the Federal Reserve’s decision to hold rates steady sparked optimism that the central bank could be nearing the end of its tightening cycle. Homebuilders ...
Mortgage applications from newly constructed home sales increased for the ninth consecutive month on a year-over-year basis, a sign that that inventory shortage is not abating, according to the Mortgage Bankers Association. Furthermore, use of Federal Housing Administration-insured financing hitting ...
Seventy percent of real estate sales people reported an uptick in homebuyers as a result of mortgage rates creeping downward in 2023, according to a recent survey from Assurance IQ, an insurance agency owned by Prudential.? For much of this ...
Prospective homebuyers are apparently less patient about market conditions than six months ago, with a significant percentage no longer willing to wait for prices or interest rates to decrease, a Bank of America study found. Only 62% of likely purchasers ...
Loan applications saw their fifth straight weekly gain, buoyed by government-sponsored activity and renewed borrower interest in refinances amid falling interest rates, according to the Mortgage Bankers Association.? The MBA’s Market Composite Index, which tracks loan-application activity based on surveys ...
The housing market logjam appears to be breaking as falling mortgage rates during November encouraged more existing homeowners to list their property for sale, to the largest level in over a year, Redfin found. Pending home sales also rose to ...
U.S. new-home construction unexpectedly surged in November to a six-month high, benefiting from a dearth of existing houses on the market and suggesting the crunch in residential real estate is easing. Residential starts increased 14.8% last month to a 1.56 ...
Federal Reserve Chair Jerome Powell’s pivot toward interest-rate cuts is spreading holiday cheer in the White House, where the improved prospects for an economic soft landing are a boon for President Joe Biden’s bid for another term.? Biden has seen ...
Sales of previously owned homes unexpectedly rose in November, led by a pickup in the South and representing a respite in a two-year downturn caused by higher borrowing costs and a lack of inventory. Contract closings increased 0.8% from a ...
U.S. homebuilder sentiment improved in December for the first time in five months as falling mortgage rates led to a pickup in prospective-buyer traffic and sales expectations. The National Association of Home Builders/Wells Fargo gauge rose 3 points to 37, ...