Homebuilders

Homebuilders in the Twin Cities metro had their sleepiest March in four years with single-family and multifamily construction falling sharply.

Plaza Home Mortgage's wholesale division has rolled out a one-time close, construction-to-permanent loan that meets Fannie Mae underwriting guidelines.

Sales of new homes rebounded to the best pace in almost a year and exceeded estimates in February, led by the Midwest, as lower mortgage costs helped buyers afford properties.

Falling mortgage rates are giving a lift to homebuilders just in time for the key spring selling season.

New-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage rates.

Lennar, the region's largest home builder has acquired a huge piece of land alongside Interstate 15 in the San Diego community of Rancho Peñasquitos and is preparing to build 324 single- and multi-family homes for middle-class families.

Houses selling well at lower price points are likely to encourage the creation of more entry-level homes, according to a new report by the National Association of Home Builders and Wells Fargo.

Sentiment among homebuilders held steady in March, sustaining a rebound from a recent three-year low on improvement in sales and a brighter outlook for the next six months.

A strong spring home purchase season could reverse the downward trends in single-family construction and remodeling activity and help deter an economic downturn, a report from BuildFax said.

New-home mortgage applications are on the rise, incentivizing builders to add housing stock in a market drained of supply and signaling a healthy spring buying season ahead, according to the Mortgage Bankers Association.