The Wall Street Journal, Aug. 10, 2023-Gina Heeb (subscription)Mortgage rates climbed for a third straight week to just below 7%.https://www.wsj.com/livecoverage/stock-market-today-cpi-report-inflation-08-10-2023/card/mortgage-rates-approach-7–VrCXTEnzYksDEIRiAZOd
Category: Top National News
Mortgage Credit Availability Hits Decade-Low as Lenders Tackle Tight Resources
MPA, Aug. 10, 2023-Candyd Mendoza Mortgage credit supply declined to a decade-low in July as banks and lenders pulled back on underutilized programs.https://www.mpamag.com/us/mortgage-industry/market-updates/mortgage-credit-availability-hits-decade-low-as-lenders-tackle-tight-resources/455871
U.S. Set to Unveil Long-Awaited Crackdown on Real Estate Money Laundering
Reuters, Aug. 10, 2023-Luc Cohen and Chris Prentice The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency …
The Four U.S. Cities Facing the Biggest Housing Shortages
Fox Business, Aug. 10, 2023-Megan HenneyProspective homebuyers across the U.S. are facing a chronic shortage of available houses, but the scarcity is worse in some parts of the country, according …
Housing Costs Push Inflation Higher for the First Time This Year
The Hill, Aug. 10, 2023-Tobias BurnsConsumer prices in July ticked up for the first time this year as housing costs and services pushed back against a rapid decline in annual …
New HUD Grants Focus on Best Practices for Building Conversions
GlobeSt.com, Aug. 10, 2023–Jack RogersThe U.S. Department of Housing and Urban Development has announced a new grant program to develop case histories of office-to-residential projects that have been undertaken since …
Manhattan Renters are Now Forking Out a Record-Breaking Average of $5,588 Per Month
Business Insider, Aug. 10, 2023–Grace Dean (subscription)In Manhattan, home to Central Park, the Empire State Building, and Wall Street, average rent in July was $5,588 a month, according to new …
U.S. Mortgage Rates Spike to Highest Since November, Approach 22-Year High
Reuters, Aug. 9, 2023–Safiyah RiddleThe average U.S. 30-year mortgage rate jumped to a nine-month peak on Wednesday and hit the second-highest rate since 2001, as interest rates reacted sharply to …
Survey: Most Californians Favor Easing Environmental Restrictions to Build More Housing
Weekly Real Estate News, Aug 8, 2023, Phil HallThe majority of Californians would not be upset if the state relaxed its stringent environmental and land use restrictions in order to …
WeWork Raises Doubt About Its Survival
The Wall Street Journal, Aug. 8, 2023-Alexander Saeedy and Ben Glickman (subscription)WeWork on Tuesday raised doubt about its ability to stay in business as the co-working space provider faces losses …