Housing markets

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."

The Federal Housing Administration's renovation program parameters hadn't been updated in a decade, faling behind similar products from other providers. The Nov. 4 changes will bring it up to speed.

The company is emphasizing wider margins over volume, and leaning into its maturing renovation business.

Without considering the potential of building equity in a property, in 48 of 50 markets renting was better; appreciation flips that to 29 cities in favor of buying, First American said.

A sizable decline in the South may have reflected the impact of Hurricane Beryl.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.

Confidence among U.S. home builders slipped for the fourth straight month to its lowest point of the year in August as high loan rates and home prices weigh on companies and buyers alike.

Borrowing costs have fallen to their lowest level in more than a year as inflation metrics drop to 2021 levels, seemingly vindicating the Federal Reserve's decision to maintain their restrictive monetary policy.

Five other cities are now at over $1 million in median price, up from four in previous periods, the National Association of Realtors said.

The administration will release $100 million in grant funds focused on slashing red tape at the state and local levels, and will advance other programs to increase home construction.

The FHA-loan market, in particular, saw the share of piggyback originations increase over two years, while the pace of growth in conventional lending was more muted, Corelogic said.