Housing markets

Purchases of new single-family homes increased 11% last month to a 743,000 annual rate, the highest level since February 2022, according to government data.

Rapidly rising tuition and housing costs both contributed to lower homeownership rates and a more than twofold surge in student debt in under 15 years.

The 14.3% rate for deals withdrawn in any April is the highest level other than in Covid-impacted 2020, as homebuyers reexamine the market, Redfin said.

Yields on the 10-year Treasury have been climbing because of the Moody's U.S. downgrade, the tax bill under debate in Congress and possible GSE reform.

The number of major housing markets with annual home price declines is the largest since late 2023, when average mortgage rates were above 7.5%.

The unexpected drop to the slowest pace in seven months was driven by ongoing affordability constraints and is a lackluster start to the Spring selling season.

Housing starts increased in April as a pickup in multifamily home construction more than offset a decline in single-family dwellings caused by elevated inventory.

A growing supply of unsold inventory applied downward pressure on prices, offering home buyers some relief, the Mortgage Bankers Association said.

The 30-year FRM remained under 7% for the 17th consecutive week, Freddie Mac said, but the 10-year Treasury at one point was up over 25 basis points.

Houses in 85% of the nation's metropolitan areas are considered overvalued, with more than half of those by 10% or above, Fitch Ratings found.

All of those surveyed by Wolters Kluwer for its May Blue Chip Economic Indicators report ruled out the possibility the Fed could raise short-term rates.

The national median single-family existing-home price grew 3.4% from a year ago to $402,300, an analysis found.

The broad rise in the share of underwater loans across the country this winter came as borrower distress grew and home prices pulled back in some regions.

The comment period for the Affirmatively Furthering Fair Housing interim final rule has been extended, but consumer advocates are clear in their opposition.

The builder reported increased revenue from a year ago, with profits near par, as it sets to absorb new acquisitions across different lines of business.

As the lock-in effect deters many current homeowners from buying, the housing market is seeing younger clients stepping in, often with government-backed loans.

The Federal Home Loan Bank of Atlanta exceeded its funding commitment by nearly $1 million, while its Dallas counterpart gave out $2 million in 2024.

Even though Motto Mortgage has 8% fewer open offices than a year ago, executives touted franchise renewals with owners committing to another seven years.

Pending sales of previously owned US homes rose in March by the most in more than a year as a brief dip in mortgage rates and a rising supply of houses brought out spring shoppers.

The real estate industry is at the forefront of a lobbying blitz to sway Congress to preserve the carried interest tax break that President Donald Trump wants to abolish in a giant tax bill pending in Congress.