U.S. Housing Market
$60,000 FHLBank Dallas Grant to Support Affordable Housing Initiatives in New Orleans
The PGP offers up to a 5:1 match of member contributions up to $25,000 per FHLBank Dallas member. Continue Reading $60,000 FHLBank Dallas Grant to Support Affordable Housing Initiatives in New Orleans
Pending Home Sales Flat in September
Month-over-month and year-over-year pending home sales were up in the Northeast and South but declined in the Midwest and West. Continue Reading Pending Home Sales Flat in September
Cyberattack Shuts Down Real Estate Transactions in Wisconsin County
Christina Weitzel, team lead for the RE/MAX Mineral Point office, complained that the county has been slow in remediating the damage created by the cyberattack. Continue Reading Cyberattack Shuts Down Real Estate Transactions in Wisconsin County
Yes Communities Launches New Manufactured Housing Community in Florida
Savannas Ridge’s amenities include a clubhouse, resort-style swimming pool, playground and basketball court. Continue Reading Yes Communities Launches New Manufactured Housing Community in Florida
Mortgage Rates Inches Up, Homebuyer Affordability Inches Down
The 30-year fixed-rate mortgage averaged 6.89% as of May 29. Continue Reading Mortgage Rates Inches Up, Homebuyer Affordability Inches Down
4 Surprising Reasons Homebuyers’ Real Estate Deals Fall Through Today: Could Yours Be Next?
Source: Realtor.com --- Owning a home is the American dream, but at the moment it’s more like homebuying cancel culture. According to a 2022 survey by home warranty site Cinch Home Services of 1,000 Americans who have tried to buy or sell a home in the past year, more...
Why the Fed’s housing reset risks a global recession
Source: Housing Wire --- When Federal Reserve Chairman Jerome Powell talked about a housing reset in June, it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting, held last week, Powell finally clarified what he meant by...
John Paulson on Frothy US Housing Market: This Time Is Different
Source: Yahoo --- John Paulson became a billionaire after his hedge fund effectively shorted more than $25 billion of mortgage securities at the dawn of the global financial crisis. As he sizes up yet another frothy housing market some 15 years later, the founder of...
With Mortgage Rates Soaring, the Housing Market Takes Another Hit
Source: The New York Times --- As the average 30-year mortgage rate eclipses 7 percent, home buyers and sellers are confronting sticker shock. The interest rate for the most common home loan in the United States surpassed 7 percent this week, by one measure — the...
Fed Chair Jerome Powell Says a ‘Difficult Correction’ Should Balance US Housing Market
Source: The Paradise --- Following the Covid-19 pandemic, real estate investors did extremely well, despite the millions of Americans that were put out of work and faced evictions during the lockdowns in 2020. Stimulus put a bandage on the financial wounds inflicted...
These 210 housing markets are now vulnerable to 20%-25% home price declines, finds latest Moody’s downgrade
Source: Fortune --- Favorable millennial demographics. Tight housing inventory. Low unemployment. That’s why housing bulls said the Pandemic Housing Boom had more room to run. Moody’s Analytics chief economist Mark Zandi, of course, disagreed. Back in May, Zandi came...
Powell warns of a correction in the once ‘red-hot’ housing market
Source: Boston --- Federal Reserve Chair Jerome Powell warned that the US housing market is likely to suffer a reversal in the wake of policymakers’ interest-rate hikes. “We’ve had a time of a red-hot housing market all over the country,” Powell said in a press...
US ‘housing recession’ could send prices 20% lower by mid-2023: economist
Source: New York Post --- US home prices are now “clearly falling” and could plummet by as much as 20% by mid-2023 as the Fed continues its aggressive push to hike interest rates, according to a prominent economist. Ian Shepherdson, the chief economist at Pantheon...
Housing market correction? Here’s what experts think is ahead for the real estate market
Source: USA Today --- The Federal Reserve's interest rate hikes may be intended to give the housing industry a "reset," as chair Jerome Powell wanted, but it also may have further confused home buyers and sellers on what to do next. Average 30-year fixed mortgage...
The Fed to reset the U.S. housing market through a ‘difficult correction’—5 things to know about the plan
Source: Fortune --- Fed Chair Jerome Powell told reporters back in June that spiking mortgage rates would see the Pandemic Housing Boom fizzle out. In the eyes of Powell, that would be a good thing. “I’d say if you are a homebuyer, somebody or a young person looking...
