Housing markets

The mortgage industry may be largely in the dark about the process, which could save homeowners potentially thousands of dollars a year.

Renovations, already the leading use for these borrowings, increased their share to nearly two-thirds of the products' market, the Mortgage Bankers Association said.

In the Pacific region and Mountain states recorded real estate value drops compared to last year, the Federal Housing Finance Agency found.

"I do believe you'll begin to see some improvement, or increases, in new housing as we head into the back half of the year," Chief Financial Officer Jim Peters said in an interview. "We're hearing optimistic stuff from the builders we deal with."

The bottom five metros have an average five-year median home value appreciation of 35.46%.

Overall sentiment in the segment shows 30% of businesses expect market conditions to become more favorable for them over the next six months, while 26% said they would get worse, according to a new study.

The top five metros have an average five-year median home value appreciation of 48.49%.

The nation's most flood-prone counties experienced a net influx of about 400,000 people in 2021 and 2022, Redfin found.

The uptick in loans 30-to-60 days past due was offset by a continued, significant decline in mortgages 90 days or more past due which aren't in foreclosure.

Plaintiffs accuse the NAR and the multiple listing services of antitrust violations because of rules around shared broker compensation fees.

Rising interest rates during June worked to hold potential new homebuyers out of the market, the Mortgage Bankers Association's Builder Application Survey found.

As affordability worsened for prospective buyers, owners saw their first quarterly rise in proceeds in almost a year.

Contract closings declined 3.3% to a 4.16 million annualized pace, roughly in line with economists' forecasts, National Association of Realtors data showed Thursday.

Residential starts fell 8% last month to a 1.43 million annualized rate, according to government data released Wednesday.

About 14 out of every 1,000 US homes changed hands during this period, down from 19 in the same period during 2019, according to the real estate brokerage's report examining housing turnover since the pandemic.

Despite the improvement in sentiment, the homebuilder index remains below end-of-2021 levels, when mortgage rates were lower

The nearly 8% growth on a seasonally adjusted annualized basis is well above the historical average, according to the government-sponsored enterprise.

Even though the price of softwood lumber has climbed up by more than 7% in the last three months, it sits 21% below its level from a year ago.

The chattel financing firm's cash infusion is in addition to a $15.5 million venture round in 2022 and a Series A earlier this year.

Mayor Michelle Wu is offering hefty tax breaks to companies to turn offices into housing, the latest example of a city seeking to address the challenges of remote work hitting downtowns and a lack of affordable residences.