Mortgage demand weakened for a second straight week as borrowing costs moved back toward 7%, reinforcing the pressure higher bond yields are putting on both home purchases and refinancing. The Mortgage Bankers Association’s Market Composite Index fell 4.1% on a...
Single-family home construction bounced back sharply in August, but the industry’s forward pipeline weakened at the same time — a split that complicates any argument that the summer slowdown has run its course. Builders started single-family homes at a...
The Federal Reserve’s first rate increase since 2023 was only part of the message housing professionals received Wednesday. The more consequential signal for the months ahead may be in the central bank’s updated economic projections: policymakers now see inflation...
Mortgage rates moved sharply higher this week, pushing the housing market back to the edge of the 7% threshold just as buyers and builders were already confronting renewed pressure from borrowing costs. The average rate on a 30-year fixed mortgage rose to 6.95% as of...
Lennar’s third-quarter profit fell by more than half from a year ago, and the homebuilder cut its full-year delivery target again as higher mortgage rates and worsening affordability slowed buyers across its markets.The Miami-based builder reported net earnings...
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
