Purchase applications rose, but a sharp drop in refinance applications led to an overall drop in mortgage applications last week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending May 21.
New home sales took a double hit yesterday, according to HUD and the Census Bureau: not only did April new home sales fall by nearly 6 percent, March sales revised sharply downward by more than 10 percent.
Home prices continued to post double-digit annual gains amid a red-hot spring housing market, according to the Standard & Poor’s CoreLogic Case-Shiller Indices.
The Conference Board, New York, reported its monthly Consumer Confidence Index held steady in May, following a gain in April. The Index now stands at 117.2, down marginally from 117.5 in April.
Seattle surpassed Manhattan to become the leading U.S. market for cross-border investment, reported Real Capital Analytics, New York.