Mortgages

Shares of all 18 members in the S&P Composite 1500 Homebuilding Index fell, sending the gauge to the lowest intraday level since December 2023, after results from luxury homebuilder Toll Brothers Inc. and key construction data Wednesday indicated the residential real estate market may be in store for more turbulence. 

Meanwhile, home prices are set to grow 3 to 4% in 2025, a Fitch report predicts.

New residential construction decreased 9.8% to an annualized pace of 1.37 million last month, slipping after a nearly 16% surge in December, according to government data released Wednesday.

Overall home loan application activity fell 6.6% last week, according to the Mortgage Bankers Association, with volume resembling the frigid start to the year.

Gahanna, Ohio was the hottest ZIP code for the second consecutive year.

The new tool taps into Intercontinental Exchange's AllRegs database, which contains over a million pages of guidelines from various sources.

More government-backed loans shifted out of forbearance, while the share of portfolio and private-label securities loans remained flat from December.

Builder confidence had surged following Trump's election win but home financing costs stuck around 7% in recent months have sapped demand and sent builder stocks tumbling.

The lender says its first-of-its-kind program can give consumers up to $5,000 in credits based on their prior 12-month rent payment history.

With proposed tariffs on homebuilding materials working looming and a cloudy forecast for mortgage rates, young homebuyers are facing increased volatility.