Jb Reed | Bloomberg | Getty ImagesThe average interest rate on the popular 30-year fixed mortgage has set a record low 13 times so far this year. It did it again last week. That has given current homeowners unprecedented potential to save on their monthly payments through a refinance.With the latest record low of 2.72%… More
The Trump Organization’s efforts to sell the Trump International Hotel Washington, D.C., have been put on indefinite hold, casting doubts on the future of one of the president’s biggest financial bets, according to industry executives.The Trump Organization hired Jones Lang LaSalle to shop the hotel to potential buyers last fall hoping for a price of… More
Another record low interest rate on the 30-year fixed mortgage last week did not help drag homebuyers out of their recent slump.Declining demand from buyers caused mortgage application volume to fall 0.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Â Mortgage applications to purchase a home fell… More
Housing stocks are standing on shaky ground.That’s according to Matt Maley, equity strategist at Miller Tabak, who says that while the group looks great fundamentally, some weaknesses are beginning to form.”I’ve been bullish on this group for two years now,” Maley told CNBC’s “Trading Nation” on Wednesday. “But sometimes the stocks do a little bit… More
Millions of Americans have been financially impacted by the coronavirus pandemic. New England Patriots linebacker Brandon Copeland wants to help.”We can’t control the pandemic, but what we can control is how each of us individually attack our own financial situations,” said Copeland, who played with the New York Jets before signing with the Patriots earlier… More
People ride scooters past the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020.Erin Scott | Bloomberg | Getty ImagesThe Federal Reserve said Thursday it would keep its benchmark interest rate near zero for as long as it takes to help the economy bounce back from the coronavirus crisis.In addition to holding rates near… More
People wait to visit a house for sale in Floral Park, Nassau County, New York.Wang Ying | Xinhua News Agency | Getty ImagesRecord low rates for both larger loans and low down-payment loans drove an increase in mortgage demand last week. Total mortgage application volume rose 3.8% compared with the previous week, according to the… More
A Sale Pending sign is seen in front of a home in Miami, Florida.Joe Raedle | Getty ImagesPotential homebuyers may be hitting the limit of what they can afford. Pending home sales, a measure of signed contracts on existing homes, fell 2.2% in September compared with August, according to the National Association of Realtors.It was… More
Property data and analytics firm CoreLogic has received multiple potential takeover bids that value the company at north of $80 a share, sources tell CNBC’s David Faber.The multiple parties interested in pursuing a deal with CoreLogic include private equity firms, Faber reported citing sources familiar with the talks. The company has already signed a non-disclosure… More
Homebuyer demand had mortgage lenders incredibly busy over the summer, but that may have peaked.Mortgage applications to purchase a home, which had fallen for four straight weeks, were essentially flat last week, rising just 0.2%, according to the Mortgage Bankers Association’s seasonally adjusted index.Refinances helped to push total mortgage application volume up 1.7% last week… More
Steve Huffman CEO, Reddit, delivers remarks on ‘Redesigning Reddit’ during the third day of Web Summit in Altice Arena on November 08, 2017 in Lisbon, Portugal.Horacio Villalobos | Corbis | Getty ImagesReddit said Tuesday it won’t lower pay for employees who choose to move out of high-cost cities following the coronavirus pandemic. That means employees… More
Pedestrians walk past a home with a “Sold” sign in San Francisco.David Paul Morris | Bloomberg | Getty ImagesSales of existing homes rose a higher-than-expected 9.4% in September to a seasonally adjusted annualized rate of 6.54 million units, according to the National Association of Realtors. Sales were up 20.9% annually.Sales could be more robust if… More
The CEO of real estate brokerage Redfin told CNBC on Thursday he anticipates the coronavirus pandemic-driven boom in the housing market will persist into next year.Existing home sales increased 9.4% in September, surpassing expectations, and the median purchase price rose nearly 15% year over year, according to data released earlier Thursday by the National Association of Realtors.”There’s… More
Retrofits can include the installation of solar panels on a home’s rooftop, such as this property in Kent, England.Andrew Aitchison | In Pictures | Getty ImagesYou only need to look at the huge numbers of people working from home to see how tech has changed the buildings we live in. Through laptops, tablets and smartphones, we… More
Aaron and Lindsey Fisher found their dream home not far from where they lived in northern California.It was a stunning, $1.4 million home with an expansive backyard and nearby trail where they could hike with their four sons.”It seemed too good to be true almost,” Lindsey said. “Exactly what we wanted.”Aaron and Lindsey Fisher and… More
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