housing

Mortgage demand rises as interest rates decline slightly

A home, available for sale, is shown on August 12, 2021 in Houston, Texas. Brandon Bell | Getty Images Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most sensitive to …

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Investor home purchases drop 30% as price gains slow

Housing under construction in Atlanta, Georgia, on Sunday, Nov. 13, 2022. Elijah Nouvelage | Bloomberg | Getty Images Home sales have dropped for nine straight months, driven by surging mortgage rates, and now investors are pulling back even more than traditional homebuyers. Investor home purchases dropped just over 30% in the third quarter of this …

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Home sales fell for ninth straight month in October

A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Home sales declined for the ninth straight month in October, as higher interest rates and surging inflation kept buyers on the sidelines. Sales of previously owned homes dropped 5.9% from September to …

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Why the ‘floor is coming’ for US housing market: economist

The US housing market is likely close to hitting a bottom following months of plummeting buyer demand and falling home prices, a prominent economist said in a note to clients this week. Homebuilder confidence fell for the 11th straight month in November and plunged to its lowest level since June 2012, excluding the COVID-19 pandemic, …

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Background checks are often inaccurate make renting more expensive

Inaccurate screening reports are driving moving costs for renters even higher, according to a new report by the Consumer Financial Protection Bureau. From January 2019 to September 2022, the CFPB received approximately 26,700 complaints related to tenant screening. About 65% of them were related to incorrect information appearing on their reports. Tenants often pay an …

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Home Depot and Lowe’s are booming in a housing market bust

A home improvement contractor works on a house in Cambridge, Massachusetts. Suzanne Kreiter | The Boston Globe | Getty Images As the US housing market falls hard from its pandemic-driven highs, home improvement retailers like Home Depot and Lowe’s don’t seem to be feeling the same pain. In fact, they’re faring better than expected. While …

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Homebuilder sentiment drops to a decade low

Contractors work on concrete slabs in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Homebuilder sentiment in the single-family housing market fell to the lowest level in a decade in November, as builders continue to struggle with …

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Sharp drop in mortgage rates does little to boost demand

A home for sale in the Mission Hills area of ​​Los Angeles Tuesday, Oct. 11, 2022 in Mission Hills, CA. Brian Van Der Brug | Los Angeles Times | Getty Images Mortgage application volume rose 2.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment …

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