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 MoreThis could be the worst market for a first-time homebuyer, experts say
Buying a first home is always a big decision, and a hot housing market untamed by the pandemic has made it harder than ever. Interest rates are a historic lows, and there is high demand and not enough supply. Financial…
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 MoreSecond-largest U.S. mortgage lender will accept payment in bitcoin
United Wholesale Mortgage announced plans this week to accept cryptocurrency for home loans, in an apparent first for the national mortgage industry. The company hopes to start accepting bitcoin in Q3, and it is currently weighing other digital currencies like…
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 MoreRetail real estate trade group grapples with post-pandemic landscape, changes name
The International Council of Shopping Centers, the largest trade association for the retail real estate industry globally, is rebranding. ICSCwill now stand for Innovating Commerce Serving Communities. The retail real estate industry is still reeling from the repercussions of the…
Read MoreLumber prices soar 275% in the pandemic, shutting out homebuilders: CNBC After Hours
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, Diana Olick breaks down how lumber costs are weighing on homebuilders' confidence levels. Plus, CNBC.com's Natalie Zhang explains why teens are benefiting from widespread job openings…
Read MoreRents for single-family homes just saw the largest gains in nearly 15 years
Single-family rents were up 5.3% year over year in April, up from a 2.4% year-over-year increase in April 2020, according to CoreLogic. That is the largest annual gain in nearly 15 years. Regionally, by top 20 metropolitan markets, rent gains…
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