Housing

Freddie Mac has revised downward its economic forecast for the remainder of 2016 following a tepid first quarter, but still remains upbeat about the housing market.

Purchases of new homes unexpectedly declined in March for a third month, reflecting the weakest pace of demand in the West since July 2014.

Spiking values for entry-level homes may prevent some first-time homebuyers from entering the housing market this spring, according to Zillow.

Blackstone Group, with real estate assets that have surpassed $100 billion, is considering tapping individual investors as it expands its push into owning high-quality buildings with steady income streams.

Mortgage loan delinquencies fell to their lowest level recorded since March 2007, according to Black Knight Financial Services.

D.R. Horton Inc., the largest U.S. homebuilder, reported fiscal second-quarter earnings that beat analysts' estimates as it increased sales amid a tight inventory of properties on the market.

People's United Financial in Bridgeport, Conn., reported higher first-quarter profits as it increased lending for both commercial and residential real estate.

Rates for the 30-year fixed-rate mortgage rose slightly last week, as recent figures showing an active home-sales market suggest homebuyers are taking advantage of current conditions, according to Freddie Mac.

Home prices rose 0.4% in February from the prior month, according to the Federal Housing Finance Agency, as job growth fueled demand for a scant supply of listings.

Home sellers realized a 17% average gain in price in March, the highest average gain since December 2007, according to RealtyTrac.