real estate - Articles

Housing Starts Rise Less Than Forecast, Permits Fall

Patrick T. Fallon/Bloomberg via Getty Images By Lucia Mutikani WASHINGTON -- - U.S. housing starts rose but below market expectations and building permits fell in March, pointing to underlying weakness in the housing market that could persist despite improving weather. The Commerce Department said Wednesday... Continue Reading »

Mortgage Rates Slip, Edge Closer to Record Low Levels

Tony Dejak/AP WASHINGTON -- Average U.S. rates on fixed mortgages declined this week, edging closer to historically low levels as the spring home-buying season begins. Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.34 percent from 4.41 percent last week. The average for the 15-year... Continue Reading »

Mortgage Applications Fall as Refinancing Drops

Getty Images By Luciana Lopez NEW YORK -- Applications for U.S. home mortgages fell last week as refinancing slipped, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.6... Continue Reading »

Mortgage Rates Move Up a Tick in Latest Survey

Jae C. Hong/AP WASHINGTON -- Average U.S. rates on fixed mortgages rose slightly this week but remained near historically low levels. Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan ticked up to 4.41 percent from 4.40 percent last week. The average for the 15-year mortgage increased to... Continue Reading »

Mortgage Applications Fall in Latest Week

Alamy By Caroline Valetkevitch NEW YORK -- Applications for U.S. home mortgages fell last week on lower refinancing demand, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand,... Continue Reading »

Home Prices Rise in February Despite Weaker Sales

Tony Dejak/AP By CHRISTOPHER S. RUGABER WASHINGTON -- U.S. home prices rose in February from a year earlier at a solid pace, suggesting that a tight supply of available homes is boosting prices despite slowing sales. Real estate data provider CoreLogic (CLGX) said Tuesday that prices for existing homes rose 12.2... Continue Reading »

Pending Home Sales Slip as Weather, Higher Rates Stall Demand

LM Otero/AP By JOSH BOAK WASHINGTON -- The number of Americans who signed contracts to buy homes fell for the eighth straight month in February, a sign that real estate sales will likely slow over the next few months. The National Association of Realtors said Thursday that its seasonally adjusted pending home sales... Continue Reading »

Mortgage Rates Tick Up on Fed Chair's Comments

Tony Dejak/AP WASHINGTON -- Average U.S. rates on fixed mortgages rose this week in the wake of comments by Federal Reserve Chair Janet Yellen suggesting that the Fed could start raising short-term interest rates by mid-2015. Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 4.40 percent... Continue Reading »

New Home Sales Fall to 5-Month Low

Tony Dejak/AP By Lucia Mutikani WASHINGTON -- Sales of new U.S. single-family homes fell more than expected and hit a five-month low in February, pointing to continued weakness in the housing market. The Commerce Department said Tuesday that sales fell 3.3 percent to a seasonally adjusted annual rate of 440,000 units,... Continue Reading »

Home Prices Rise More Than Forecast in January

Justin Sullivan/Getty Images By Rodrigo Campos NEW YORK -- U.S. single-family home prices rose in January and slightly beat expectations, a closely watched survey said Tuesday. The S&P/Case-Shiller composite index of 20 metropolitan areas rose 0.8 percent in January on a seasonally adjusted basis. A Reuters poll of... Continue Reading »

Mortgage Rates Edge Back Down in Latest Survey

Chuck Burton/AP WASHINGTON -- Average U.S. rates on fixed mortgages declined last week, edging closer to historically low levels. Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.32 percent from 4.37 percent last week. The average for the 15-year mortgage eased to 3.32 percent from 3.38... Continue Reading »

Existing Home Sales Slip in February

Gene J. Puskar/AP By Margaret Chadbourn WASHINGTON -- U.S. home resales dropped slightly in February to a 19 month-low as cold weather and a shortage of homes for sale continued to sideline potential buyers. The National Association of Realtors said Thursday home sales dropped 0.4 percent to an annual rate of 4.60... Continue Reading »

Housing Starts Fall, But Permits Rebound

Patrick T. Fallon/Bloomberg via Getty Images By Lucia Mutikani WASHINGTON -- U.S. housing starts fell for a third straight month in February, but a rebound in building permits offered some hope for the housing market as it struggles to emerge from a soft patch. The Commerce Department said Tuesday groundbreaking... Continue Reading »

Mortgage Rates Edge Up, Remain Near Historic Lows

David Paul Morris/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels. Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 4.37 percent from 4.28 percent last week. The average for the 15-year mortgage... Continue Reading »

Mortgage Applications Slip in Latest Week

Daniel Acker/Bloomberg via Getty Images By Luciana Lopez NEW YORK -- Applications for U.S. home mortgages fell in the latest week as interest rates edged higher, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both... Continue Reading »

Net Worth of U.S. Households Sets Record

Richard Drew/APA surging stock market and rebounding home prices boosted Americans' wealth to a record in the final three months of last year. By CHRISTOPHER S. RUGABER WASHINGTON -- A surging stock market and rebounding home prices boosted Americans' wealth to a record in the final three months of last year, though... Continue Reading »

Mortgage Rates Fall, Reverse Recent Upward Trend

Daniel Acker/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates on fixed mortgages fell after three weeks of rises, edging closer to historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan declined to 4.28 percent from 4.37 percent last week. The average for... Continue Reading »

Home Prices Rise at Solid Pace in January

Gene J. Puskar/AP By CHRISTOPHER S. RUGABER WASHINGTON -- U.S. home prices rose in January after three months of declines. A tight supply of homes might have helped boost prices and offset sales slowed by cold weather. Real estate data provider CoreLogic (CLGX) says prices rose 0.9 percent in January after slipping 0.1... Continue Reading »

Contracts to Buy Homes Barely Budge in January

Gregory Bull/AP By JOSH BOAK The number of Americans who signed contracts to buy homes was essentially flat in January, a possible sign of a softening real estate market. The National Association of Realtors said Friday that its seasonally adjusted pending home sales index inched up 0.1 last month to 95. The index has... Continue Reading »

Mortgage Rates Rise as Home Sales Surge

Getty Images WASHINGTON -- Average U.S. rates on fixed mortgages rose for a third straight week as new data showed a surprisingly strong pace of new-home sales last month. Rates still remain near historically low levels. Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan increased to 4.37... Continue Reading »

Freddie Mac to Pay Treasury $10.4 Billion on Record Profit

Alamy By Margaret Chadbourn WASHINGTON -- Freddie Mac said Thursday it will soon send the U.S. Treasury a $10.4 billion dividend after posting a ninth straight quarterly profit, putting taxpayers further into the black on their bailout of the mortgage giant. When it makes the payment next month, Freddie Mac will have... Continue Reading »

New Home Sales Surge Nearly 10% in January

Justin Sullivan/Getty Images By Lucia Mutikani WASHINGTON -- Sales of new U.S. single-family homes surged to a 5½ year high in January, which could ease concerns of a sharp slowdown in the housing market. The Commerce Department said Wednesday that sales jumped 9.6 percent to a seasonally adjusted annual rate of... Continue Reading »

Study: Housing Recovery Uneven Across U.S.

Joe Raedle/Getty Images By Margaret Chadbourn WASHINGTON -- The U.S. housing sector is likely to experience an uneven recovery over the next five years, with some local markets bouncing back faster than others, according to a study released Wednesday. By 2018, the median price of single-family homes will be close to... Continue Reading »

Mortgage Applications Tumble to Lowest Level in 2 Decades

Alamy By Diana Olick Mortgage applications to buy a home fell last week to the lowest level in nearly two decades, according to a weekly survey from the Mortgage Bankers Association. The report is a clear sign of weakness in buyer demand heading into the usually busy spring housing season. "Purchase applications were... Continue Reading »

U.S. Home Prices Fall Amid Brutal Winter Cold

Gene J. Puskar/AP By CHRISTOPHER S. RUGABER WASHINGTON -- U.S. home prices fell for the second straight month in December as brutally cold weather, tight supply and higher costs slowed sales. The Standard & Poor's/Case-Shiller 20-city home price index declined 0.1 percent from November to December, matching the... Continue Reading »

Existing Home Sales Slump on Weather, Supply Woes

Gene J. Puskar/AP WASHINGTON -- U.S. home resales fell more than expected in January and hit an 18 month-low as the combination of cold weather and a lack of housing stock sidelined potential buyers. The National Association of Realtors said Friday home sales dropped 5.1 percent to an annual rate of 4.62 million units,... Continue Reading »

Mortgage Rates Inch Up in Latest Week

AP WASHINGTON -- Average U.S. rates on fixed mortgages rose this week but remained near historically low levels. Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 4.33 percent from 4.28 percent last week. The average for the 15-year mortgage edged up to 3.35 percent from 3.33... Continue Reading »

Housing Starts, Permits Tumble; Mortgage Applications Fall

AP By Lucia Mutikani and Rodrigo Campos WASHINGTON -- U.S. housing starts recorded their biggest drop in almost three years in January, likely weighed down by harsh weather, but the third month of declines in permits pointed to some underlying weakness in the housing market. That weakness was evident in another report... Continue Reading »

U.S. Homebuilder Confidence Sinks in February

Chuck Burton/AP By ALEX VEIGA U.S. homebuilders' confidence in the housing market has declined sharply as the severe weather battering much of the nation keeps many would-be buyers at home. Storms and cold weather dampened builders' outlook for sales ahead of the spring home-selling season and could further slow the pace... Continue Reading »

Mortgage Rates Tick Up After 5 Down Weeks

Daniel Acker/Bloomberg via Getty Images WASHINGTON -- The average U.S. rate on a 30-year fixed mortgage edged up this week to 4.28 percent from 4.23 percent but remains near historically low levels after declining during the five previous weeks. Mortgage buyer Freddie Mac said Thursday that the average for the 15-year... Continue Reading »

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