U.S. Housing Market Updates
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Mortgage Rates Record New Uptick
The 30-year fixed-rate mortgage averaged 6.72% as of July 10. Continue Reading Mortgage Rates Record New Uptick
Survey: Nearly Half of Americans Want to Ban Short-Term Rentals from Residential Areas
About one in six (16%) respondents said Airbnb hosts deserve to have their property damaged. Continue Reading Survey: Nearly Half of Americans Want to Ban Short-Term Rentals from Residential Areas
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Starwood Capital Group Completes $800 Million Purchase of Portfolio of 11 Master-Planned Communities
“This is a high-quality portfolio created by a first-class investment manager and developer,” said Mike Moser, CEO of Starwood Land. Continue Reading Starwood Capital Group Completes $800 Million Purchase of Portfolio of 11 Master-Planned Communities
Q1 Sales Up 29% in Manhattan Luxury Apartment Market
58% of the sales in the quarter were all-cash deals. Continue Reading Q1 Sales Up 29% in Manhattan Luxury Apartment Market
Two-Thirds of Condos Sold at Less Than Asking Price in February
Redfin attributed the problems impacting the condo sector to rising insurance costs and new safety regulations that caused HOA fees to soar Continue Reading Two-Thirds of Condos Sold at Less Than Asking Price in February
Home Construction Collective Launches Real Estate Investing Platform
“Millions of people need homes that do not exist, and real solutions are scant,” said Co-Founder and CEO Isaac Lidsky, Continue Reading Home Construction Collective Launches Real Estate Investing Platform
Real Estate Investors Taking a Loss in Current Home Selling
Redfin observed that investors owned 10.1% of new listings on the market as of December. Continue Reading Real Estate Investors Taking a Loss in Current Home Selling
Mortgage Delinquencies at Record Low
Every state recorded lower delinquency levels in March, ranging from 11.9% in Washington to 21.5% in Vermont. Continue Reading Mortgage Delinquencies at Record Low
Redfin: One-Third of 25-Year-Olds are Homeowners
The typical mortgage rate for homebuyers under 25 using a conventional loan was 3.3% in 2020 and 3.1% in 2021. Continue Reading Redfin: One-Third of 25-Year-Olds are Homeowners
Tight Inventory Drives Down New York State Home Sales
The state has not recorded a year-over-year increase in housing inventory since October 2019. Continue Reading Tight Inventory Drives Down New York State Home Sales
Mortgage Rates on the Rise Again
“For the first time in over a month, mortgage rates moved up due to shifting market expectations,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates on the Rise Again
Existing Home Sales Down 22% from Last Year
First-time buyers were responsible for 28% of sales in March. Continue Reading Existing Home Sales Down 22% from Last Year
Report: IMBs Outpace Banks for Lending in LMI and Minority Areas
CRA was implemented in 1977 in response to decades of redlining practices by banks and thrifts. Continue Reading Report: IMBs Outpace Banks for Lending in LMI and Minority Areas
FDIC Auctions Mortgage-Backed Bonds from Failed Banks
Another auction is planned for next week, with the FDIC seeking to sell about $660 million of lower-rated bonds. Continue Reading FDIC Auctions Mortgage-Backed Bonds from Failed Banks
Guild Mortgage Adds 8 California Branches From Fairway Independent Mortgage
John Lowe, formerly senior vice president and division manager at Fairway, has been named district manager of the new district. Continue Reading Guild Mortgage Adds 8 California Branches From Fairway Independent Mortgage
