The expiration of Annaly Capital Management's offer to purchase MTGE Investment Corp. was delayed until Sept. 7 so the two real estate investment trusts have more time to satisfy deal conditions.
An improved economy, a healthy labor market and the large population of millennials should have accelerated home sales much higher, but all hope for more transactions this year is not yet lost, according to the NAR.
Average mortgage rates fell, including the largest week-over-week drop of the past 12 months, but homebuyer demand stays mum, according to Freddie Mac.
Mirroring a national trend of rebounding home prices and rising mortgage rates, Palm Beach County, Fla., saw housing affordability fall to a 10-year low in the second quarter.
New-home construction rose less than forecast in July amid a rebound in groundbreaking for single-family and multifamily houses, indicating the industry was trying to regain its footing at the start of the second half.
Purchase-loan share held steady month-to-month for the first time this year, even though it is still above year-ago levels in line with a seasonal decline, but growth remains in the forecast.
Confidence among homebuilders fell to an 11-month low in August on rising construction costs and shortages of skilled labor, a National Association of Home Builders/Wells Fargo report showed.
As housing affordability continues eroding on growing property values and mortgage rates, nearly a quarter of millennials believe they need to delay having children to afford a home purchase.
