Housing markets

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.

Zillow said the share of listings on its platform that offered concessions topped 33% last month, up from 25% a year earlier. 

The top city, Myrtle Beach, S.C., saw a 23.1% rise in the amount of people aged 65 and over moving in.

Remax Holdings had net income of $3.7 million, up from $2 million one year prior, but a non-GAAP measure used for the mortgage business showed a near $200,000 increase in losses.

The company's mortgage segment, Zillow Home Loans will be its primary emphasis going forward, leaders said in their earnings report.

The move aims to end a conflict between service-related disability benefits and rental assistance. HUD and the Treasury also are looking at tax credit impacts.

The Treasury, CFPB and Federal Trade Commission are joining forces to warn consumers about predatory practices in financing solar energy panels.