Another month, another plunge in housing.
Hot on the heels of the latest catastrophic homebuilder sentiment print and plunging single-family starts and permits, analysts expected existing home sales to accelerate their recent decline with a 4.9% MoM drop in July.
Existing-home sales sagged for the sixth straight month in July, according to the National Association of REALTORS®. All four major U.S. regions recorded month-over-month and year-over-year sales declines.
Newsfeed: Existing-Home Sales Retreated 5.9% in July Read More »
Wells Fargo & Co. said it’s weighing the size of its mortgage business in the face of a “dramatically smaller originations market” as home buyers retreat from higher interest rates and lending capital grows more scarce.
The housing market is slowing as higher mortgage rates sideline many prospective homebuyers. With competition declining, the house hunters who are still in the market are enjoying newfound bargaining power, a striking contrast from just a few months ago, when buyers often had to pull out every stop in order to win.
In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo, the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business.
Newsfeed: Wells Fargo to shutter correspondent lending? Read More »
Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs.
Newsfeed: Homebuilders say U.S. is in a ‘housing recession’ as sentiment turns negative Read More »
While Wall Street celebrated the slight cooling of inflation in July, Statista’s Felix Richter points out that the latest reading won’t be enough to ease the financial pressure on millions of households in the United States in face of rising costs of living.
Newsfeed: Where Americans Plan To Cut Back In Face Of Inflation Read More »
The use cases for short term rentals go way beyond vacations … With many of today’s travelers turning to AirBnb for business trips, conferences, travel nursing assignments, visiting family or friends and more … Demand for short term rentals is on the rise.
Podcast: Short Term Rentals for Long Term Profits Read More »
Buying a home in the US is the least affordable it’s been in 33 years as mortgage rates soar this year and home prices hit record highs.
It sure is looking like the public pension ponzi is going to be even harder to sustain than over the last few years… That’s because data released by Wilshire Trust Universe Comparison Service this week showed that public pension funds fell a median 7.9% for the year ended June 30. It marks their “worst annual performance since 2009,” according to reporting by the Wall Street Journal.
Newsfeed: Pension Funds Suffer Worst Year Since 2009 Read More »