A model of this story first appeared in CNN Enterprise’ Earlier than the Bell e-newsletter. Not a subscriber? You’ll be able to enroll proper right here. You’ll be able to take heed to an audio model of the e-newsletter by clicking the identical hyperlink. Washington CNN — Buyers seem like making ready for one more match-up … Read more
Washington, DC CNN — US residence costs nudged larger in November, however the tempo of that progress slowed, as rising mortgage charges pushed potential patrons out of the housing market late final yr. Dwelling costs rose 7.7% in November from the yr earlier than, a smaller soar than the 9.2% progress seen in October, in … Read more
A model of this story first appeared in CNN Enterprise’ Earlier than the Bell publication. Not a subscriber? You may join proper right here. New York CNN — Mortgage charges have ticked down not too long ago, however are nonetheless up dramatically from a 12 months in the past because of the surge in long-term bond … Read more
A model of this story first appeared in CNN Enterprise’ Earlier than the Bell e-newsletter. Not a subscriber? You possibly can join proper right here. You possibly can hearken to an audio model of the e-newsletter by clicking the identical hyperlink. New York CNN Enterprise — American customers simply carry on spending, lending important help to … Read more
Mortgage charges dropped once more this week, after plunging almost half a proportion level final week. The 30-year fixed-rate mortgage averaged 6.58% within the week ending November 23, down from 6.61% the week earlier than, in accordance with Freddie Mac. A yr in the past, the 30-year fastened charge was 3.10%. Mortgage charges have risen … Read more
Editor’s Observe: Erik Lundh is a principal economist at The Convention Board. The opinions expressed on this commentary are his personal. Learn extra opinion at CNN. A much-feared correction in US house costs is underway. Whereas this may occasionally really feel like déjà vu, the drivers behind the latest spike in costs and the present … Read more
House gross sales in the USA declined for the ninth month in a row in October as surging mortgage charges and excessive costs pushed patrons out of the market. Gross sales of present properties — which embody single-family properties, townhomes, condominiums and co-ops — had been down 28.4% in October from a yr in the … Read more
New York CNN Enterprise — Excellent news for house enchancment retail big Residence Depot: Gross sales had been up almost 6% from a 12 months in the past, topping Wall Avenue’s forecasts. Earnings had been higher than anticipated, too. Now for the dangerous information: Residence Depot reported fewer buyer transactions once more. The DIY chief … Read more
If you bought your first home during the past year, consider yourself one of the fortunate few. Skyrocketing home prices and climbing interest rates pushed the share of first-time homebuyers to an all-time low, according to a new report from the National Association of Realtors. And those first-time buyers were the oldest they have ever … Read more