Housing

Senior citizens' equity in their homes rose by about $147 billion to $5.76 trillion, from the second quarter to the third quarter, according to the National Reverse Mortgage Lenders Association.

New homes sold at a slower pace than projected in November, a sign momentum in housing is cooling as the year draws to a close.

Mortgage applications increased 7.3% on a seasonally adjusted basis for the week ending Dec. 18, compared to a week earlier, according to the Mortgage Bankers Association.

Existing-home sales plummeted in November confirming fears in the mortgage industry that a new consumer disclosure rule is delaying mortgage closings.

Sales of previously owned homes slumped in November to the lowest level since April of last year as a change in industry rules lengthened the amount of time it took buyers to close on a deal.

Home prices are likely to decline because of the increase in short-term interest rates, but observers are split on whether it will hurt or help sales.

Home prices rose in October as the improving job market stirred competition for a dwindling inventory of listings.

One factor usually overlooked is the supply of single-family homes that are locked up as rentals.

The recovery in the housing market will slow dramatically over the next 10 months, according to Weiss Analytics.

Multifamily properties are getting pricy and new construction is putting upward pressure on vacancy rates, worrying banking regulators.