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Existing Homes Fall Again in October, Leading Indicators Signal Economic Downturn
Source: US News --- Sales of existing homes fell in October for the ninth straight month, down 5.9% from a month earlier as buyers faced mortgage rates that have doubled in the past year, the National Association of Realtors said on Friday. Sales, at an annual pace...
U.S. existing home sales plunge; tight inventory keeps prices rising
Source: Reuters --- WASHINGTON, Nov 18 (Reuters) - U.S. existing home sales tumbled for a record ninth straight month in October as the 30-year fixed mortgage rate hit a 20-year high and prices remained elevated, pushing homeownership out of the reach of many...
Economist explains why the ‘floor is coming’ for US housing market
Source: New York Post --- The US housing market is likely close to hitting a bottom following months of plummeting buyer demand and falling home prices, a prominent economist said in a note to clients this week. Homebuilder confidence fell for the 11th straight month...
White House officials say we are ‘in a housing affordability crisis’: NAHB CEO
Source: Yahoo! News --- National Association of Home Builders CEO Jerry Howard joins Yahoo Finance Live to discuss the U.S. housing market, mortgage rates, and homebuilder sentiment. Video Transcript SEANA SMITH: Let's take a look at the housing market, because more...
House prices might plunge 20% in the hottest US markets – and the slump could hammer the wider economy, top investor says
Source: Markets Insider --- House prices could plummet 20% in some US cities as soaring mortgage rates scare off buyers, Peter Boockvar has said. Bleakley Advisory's chief investor endorsed the Dallas Federal Reserve's grim forecast in a CNBC interview on Wednesday....
If you think it’s a bad time for mortgages, think again
Source: MPA Magazine --- Like so many others in the mortgage industry, Lamont Harris Jr (pictured), didn’t always think about working in real estate. In fact, he once harbored ambitions of becoming a professional actor after dropping out of college. “I went to...
