Existing home sales found their footing in October, rising in all four regions as rates moderated and inventory improved. Sales increased 3.4% to a seasonally adjusted annual rate of 3.96 million, according to the National Association of Realtors. They were up 2.9% YOY. “The worst of the downturn in home sales could be over, with…
Donald Trump defeated Kamala Harris to claim the presidency. “We’re going to make you very happy, we’re going to make you very proud of your vote. America has given us an unprecedented and powerful mandate,” Trump said in a victory speech. For mortgage professionals, this could translate to higher interest rates and more expensive housing,…
Vice President Kamala Harris and former President Donald Trump went head to head Tuesday for their first – and possibly only – debate before November’s presidential election. Housing was mentioned very little during the debate. Harris raised the topic early and doubled down on policies she proposed in the last month. “I grew up a…
The number of renters who believe they’ll never afford a home has skyrocketed in the last year as rates rose and stock shortages lifted home prices out of their late-2023 spiral. A recent Redfin survey found that close to 38% of renters believe they are unlikely to become homeowners, up from 27% at the same…
Mortgage rates have slipped to their lowest levels since May. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.60%, down from the week prior’s 6.66%. A year ago at this time, the 30-year FRM averaged 6.15%. The 15-year fixed fell to 5.76% from 5.87%. A year ago, it averaged 5.28%. “This…
Mortgage applications slipped as the initial shock of falling rates wore off and buyers once again approached the market carefully. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – fell 1.5%, coming down from the week prior’s 7.4% boost. Adjusted purchase applications dropped…
The Department of Housing and Urban Development is taking aim at transparency in rental housing fees in a bid to make life more affordable for the average American. HUD Secretary Marcia Fudge announced commitments by some of the biggest rental search platforms to address unexpected and junk fees. Zillow, Apartments.com, and AffordableHousing.com all said they…
By KIMBERLEY HAAS Privately-owned housing starts surpassed estimates in May, beating expectations as the housing market remains tight. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced the latest residential construction statistics on Tuesday morning. “Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This…
By KIMBERLEY HAAS A California apartment building owner who suggested a couple move into a bigger unit to accommodate their growing family is being charged with discrimination by U.S. Department of Housing and Urban Development officials. Melinda Teruel is accused of making repeated efforts to convince the couple to move into a larger apartment in…
Officials at the U.S. Department of Housing and Urban Development have opened a portal for local government leaders to request technical assistance so housing needs are considered as part of their larger infrastructure investment plans. The Thriving Communities technical assistance program was designed to help local government leaders identify land for housing development near transportation projects,…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!