MSNBC, Aug. 23, 2023–VideoNBC reports that mortgage rates continue to climb, with the average interest rate on a 30-year-mortgage rising to 7.48%. According to Mortgage News Daily, it is the …
Category: Top National News
Why Homebuilders Like Lennar And Pulte Group Are Faring Well Despite Surging Mortgage Rates
Forbes magazine, Aug. 23, 2023Our theme of housing Stocks, which includes the stocks of home improvement players, building supply companies, and home builders such as Pulte Group and Lennar fared …
Goodbye Bathtub and Living Room. America’s Homes Are Shrinking.
The Wall Street Journal, Aug. 22, 2023-Maggie Eastland (subscription)For many Americans, homeownership may be attainable only if they give up a dining room. https://www.wsj.com/economy/housing/home-prices-mortgage-rates-smaller-houses-34e06123
U.S. Home Sales Fell in July, Extending Prolonged Slump
The Wall Street Journal, Aug. 22, 2023-Will Parker and Nicole Friedman (subscription)Home sales fell in July for the fourth time in five months, extending one of the deepest housing slumps …
Tiny Homes and Multi-Generational Households Helping Residents Save on Housing Costs
Fox 13 News, Aug. 21, 2023-Mark Wilson After losing his larger house in Hurricane Ian, Mark Wildman made a big decision to go smaller. https://www.fox13news.com/news/homeowners-go-bigger-and-smaller-to-save-on-housing-costs
Mortgage Forbearance Improves in July
HousingWire, Aug. 22, 2023-Connie Kim (subscription)The total number of loans now in forbearance decreased by 5 basis points to 0.39% of servicers’ portfolio volume in July from 0.44% May, according …
Delinquencies Up at Large Servicers in Second Quarter
Inside Mortgage Finance, August 22, 2023–Brandon Ivey (subscription)The total delinquency rate for a group of 30 large servicers hit 3.16% at the end of June, up from 2.99% at the …
A Painful Evaluation of the Current State of CRE
GlobeSt.com, August 22, 2023–Joseph J. Ori (subscription)The CRE industry has been dealt a big blow with eleven interest rate hikes since March 2022 and a federal funds rate that jumped …
Rent Prices Continue Downward Trend
Weekly Real Estate News, Aug. 22, 2023–Phil HallJuly represented the third consecutive month of year-over-year declines in rental housing prices, according to data from Realtor.com.https://wrenews.com/rent-prices-continue-downward-trend/?
Canadian Banks’ Profits Seen Pressured by Slower Dealmaking, Mortgage Growth
Reuters, August 22, 2023–Nivedita BaluCanada’s big bank results are expected to bring to light a number of challenges as lenders set aside more funds for bad loans in a tough …