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...
The Federal Reserve raised interest rates Wednesday for the first time since 2023, tightening monetary policy at a moment when mortgage rates are already back near 7% and the housing market is struggling with another affordability setback. The Federal Open Market...
U.S. homebuilder confidence fell to a 12-month low in September as higher mortgage rates and persistent affordability pressure pushed more builders to cut prices and lean on incentives to move new homes. The NAHB/Wells Fargo Housing Market Index dropped three points...
The housing recovery keeps getting postponed. A fresh Reuters survey of property analysts shows forecasters raising their mortgage-rate expectations again, with borrowing costs now expected to decline only modestly from current levels. The shift comes as the 10-year...
Inflation Expectations Hit Three-Year High as Rent Outlook Climbs to 6.8%
