The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balancesdecreased to 3.16% from 3.24%. Refinance demand rose 7% last week from the previous week. Mortgage applications to purchase a home increased 3% for the week but were…
Read MoreMortgage rates fell slightly, but weekly refinance demand couldn't recover
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.24% from 3.30%. Refinance demand was down 33% from the same week one year ago. Mortgage applications to purchase a home fell…
Read MoreToday's tight housing market is already overbuilt, one analyst says
"There is a downward trajectory of population growth, household formation as well, that's really going to undermine the need for what's built," said Dennis McGill of Zelman & Associates. The supply of homes for sale at the end of August…
Read MoreMost Expensive Housing Markets in the Northeast
Anyone who’s shopped for a home recently is probably well aware of the tight U.S. housing market. Even before Covid-19 spurred millions of Americans to relocate — just as the cost of building new homes went through the roof due…
Read MoreThe Most Expensive Housing Markets in New York
New York State and California have at least one thing in common: sky-high housing prices. Like its West Coast counterpart, the East Coast’s largest metropolis has some of the most expensive single-family home costs in the nation. The real estate…
Read MoreU.S. Housing Starts Pull Back Sharply In July But Building Permits Jump
A report released by the Commerce Department on Wednesday showed a sharp pullback in new residential construction in the U.S. in the month of July. The Commerce Department said housing starts plunged by 7.0 percent to an annual rate of…
Read MoreHot housing market props up Mirvac result
Australia’s surging housing market is underpinning diversified developer Mirvac Group’s apartment and land projects, but not enough to stop a slide in operating profits. Mirvac booked profits from its Olderfleet development in Melbourne’s Collins Street. The developer recorded a 9…
Read MorePending home sales drop in June — more evidence of a housing turnaround
Signed contracts on existing homes fell in June. Prices in May were up nearly 17% compared with May 2020, according to the latest reading from S&P Case-Shiller Mortgage rates moved slightly higher at the start of June, which only added…
Read MoreSales of existing homes rise slightly as more listings finally hit the market
After four straight months of declines, sales of previously owned homes rose 1.4% in June month-to-month. The inventory of homes for sale at the end of June was 1.25 million, representing a 2.6-month supply at the current sales pace. That…
Read MoreUnicorn start-up Pacaso seeks to capitalize on surging vacation home prices
As home prices surge, real estate start-up Pacaso is buying luxury single-family vacation homes and selling them to groups of buyers through a fractional ownership model as part of an LLC. "We're simply making better use of the housing stock…
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