Housing markets

Confidence among U.S. home builders rose in September for the first time in six months, just before the Federal Reserve is expected to cut interest rates from the current two-decade high.

Asked about inflation risks ahead, she pointed to the impact of housing on the consumer price index, describing it as the "stickiest piece." Stripping out housing, the U.S. consumer price index is only rising about 1.8%, she said.

Rising property values continue to buffer mortgagors against negative equity situations, Corelogic said.

Homeownership affordability reached its lowest since at least 2006 in October, and still hovers near that level, according to an index from the Federal Reserve Bank of Atlanta.

The latest inflation news is almost sure to result in a 25 basis point cut next week, but some are still hoping for 50 basis points, as well as reductions totaling almost 200 basis points through the end of 2025, Wolters Kluwer found.

Lower inflation doesn't equate to lower prices, and costs of living may still be higher than pre-pandemic, especially rents. But the varying cooldown could help.

Home selling sentiment was mostly unchanged, even though some shifts appeared on a regional basis, according to the latest Fannie Mae research.

Realpha, which currently does business in 20 Florida counties using its AI agent, is buying Be My Neighbor, a mortgage broker active in 26 states.

Subsidies for first-time homebuyers, such as the one proposed by Democratic Presidential nominee Kamala Harris, will only stoke demand and exacerbate the crisis, writes the chairman of Whalen Global Advisors.

Growth in housing costs should slow down over the next two years, but projections for 2024 were revised upward in a Fannie Mae survey of experts.

The case over a federal investigation is unrelated to the trade group's recent commissions changes.

A gauge of pending U.S. sales of existing homes sunk in July to the lowest level on record, as high prices and borrowing costs continue to scare buyers away.

The average payment fell to $2,140 from $2,167 in June, according to the Mortgage Bankers Association.

Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.

About 85% of U.S. homeowners have interest rates below 6%, while a little over 50% of homeowners have a rate below 4%, Redfin's report said.

While listings are ticking up, house hunters are still struggling to find affordable properties. But thanks to high mortgage rates, there aren't enough buyers in the market to create the level of competition that would drive prices up more significantly.

The top metro saw a 106.9% increase in value of new residential housing units between Q4 2022 and Q4 2023

New-home sales in the U.S. bounced back to the highest level since May 2023 as buyers took advantage of lower mortgage rates and more listings to choose from.

Mortgage fintech Maxwell suggests lenders position themselves closer to consumers as the post-commission changes landscape evolves.

"Despite the modest gain, home sales are still sluggish," said NAR Chief Economist Lawrence Yun in a prepared statement. "But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."