Housing

According to data from the Mortgage Bankers Association (MBA) issued on Wednesday, mortgage rates hit a 16-year high last week, significantly reducing demand among home purchasers. In the final week of September, the 30-year fixed mortgage rate increased to 6.75%, the highest level since 2006....

The COVID-19 pandemic sparked a change in how people moved throughout the country. Remote work made it possible for people to deviate from the norm of choosing a residence that was close to their place of employment. More than 80% of workers commuted an hour and a half or less to work prior to...

Asking rents in the U.S. reached a record high in August, but for the third consecutive month, rent growth decelerated slightly. Redfin data indicated the median national asking rent increased 11% year-over-year to $2,039, but decreased from a peak gain of 19% in March, making it the...

U.S. house prices rose 17.7% from the second quarter of 2021 to the second quarter of 2022, according to the Federal Housing Finance Agency House Price Index (FHFA). House prices were up 4% compared to the first quarter of 2022. FHFA’s seasonally adjusted monthly index for June was up 0....

According to a new study published in Fortune, if the U.S. economy falls deeper into a recession, housing prices could dip by as much as 20% in 183 cities nationwide.  The data from Moody's analytics reveal that 183 of the 413 top housing markets are "overvalued" by...

Following the treasury bond yield curve inversion on July 5, Invesco Mortgage Capital Inc (NYSE: IVR) stock took a massive hit. What Happened: At 10:45 a.m. Wednesday (July 6), Invesco’s stock price dropped to $15.12 which is a decrease of over 5%, according to Benzinga Pro. Today’...

New home demand has deteriorated over the past few weeks due to the spike in mortgage rates, a sharp decline in consumer confidence and the weaker economic growth outlook, according to BofA Securities. BofA On Owens Corning Analyst Rafe Jadrosich downgraded the rating for Owens Corning (NYSE:...

Apple Inc (NASDAQ: AAPL), which reportedly evicted 56 homeless people from its property last year, has not yet found permanent homes for many of them despite spending millions of dollars. What Happened: The Tim Cook-led company removed the homeless in September from its property and provided dozens...

This article was originally published on Grit Capital and appears here with permission. Ah, the American dream. Then: Work hard, marry your high school sweetheart, buy a big house with a white picket fence, have a couple of kids, then fade into your golden years funded by your massive pension...

Lennar Corp’s (NYSE: LEN) wholly-owned subsidiary LMC and Canada Pension Plan Investment Board (CPP Investments) have formed a new joint venture (JV) to develop multifamily residential communities. CPP Investments and LMC have allocated $979 million in equity to the...

Zillow Group Inc (NASDAQ: Z) shares have been crushed since the company announced a pause and subsequent shutdown of its U.S. home iBuying program. At first glance, Zillow exiting the iBuying market might look like a win for completing iBuying stocks, such as Opendoor Technologies Inc (NASDAQ: OPEN...

Now that third-quarter earnings season is over for the mortgage insurance, one analyst refreshed his coverage for the group on Wednesday, including issuing two downgrades. The Analyst: Bank of America analyst Mihir Bhatia issued the following changes to his mortgage insurance coverage: MGIC...

There’s a lot of homebuyer pessimism in the housing market these days. The share of people who thought that July was a good time to buy dropped to a new all-time low of 28%, according to survey data from the National Mortgage News. A year ago, that number was about 53%. What Happened: The...

For lumber suppliers, the tight supply and mile-high price of lumber that impacted construction projects nationwide this spring continue to cause frustration. But builders and homeowners remain optimistic as prices have since fallen to $479 per thousand board feet, down 68% since peaking in May...

Ahead of the cash open as we begin another trading week, U.S. indices remain at or near all-time highs as investors and traders remain focused on the positive and are willing to shrug off the negative. Last week, Friday’s Consumer Sentiment report came in at a near 10-year low to end the week...