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Thursday, December 1, 2022

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Pending home sales post surprise increase in May, likely due to brief pullback in mortgage rates

A house's real estate for sale sign shows the home as being "Under Contract" in Washington, DC.Saul Loeb | AFP | Getty ImagesPending home sales, a measure of signed contracts on existing homes, rose slightly in May, up 0.7% compared with April, accordi...

Sales of existing homes fell in May, and more declines are expected

Sales of existing homes in May dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors.Sales were 8.6% lower than in May 2021. April's sales were revised slightly lower as well.This...

Here’s why this housing downturn is nothing like the last one

As quickly as mortgage rates are rising, the once red-hot housing market is cooling off. Home prices are still historically high, but there is concern now that they will ease up as well.All of this has people asking: Is today's housing market in the sa...

Homebuilder sentiment drops to lowest level in two years as housing demand slows

A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November.George Frey | Bloomberg | Getty ImagesSentiment among the nation's homebuilders fell for...

30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago

Mortgage rates jumped sharply this week, as fears of a potentially more aggressive rate hike from the Federal Reserve upset financial markets.The average rate on the popular 30-year fixed mortgage rose 10 basis points to 6.28% Tuesday, according to Mor...

Home prices surged over 20% in March as interest rates also rose, according to S&P Case-Shiller

A sold sign sits outside a home. Adam Jeffery | CNBCRising mortgage rates did not slow down rising home prices in March.Nationally, home prices were 20.6% higher than they were in March 2021, according to the S&P CoreLogic Case-Shiller Home Pr...

The price of a home sold in March set a new record, as inventory dwindled and sales fell

House "sold" sign Peoria, IllinoisDaniel Acker | Bloomberg | Getty ImagesSales of existing homes dropped 2.7% in March to a seasonally adjusted, annualized rate of 5.77 million units, according to the National Association of Realtors. February's readin...

Homebuilder sentiment drops for fourth straight month, as rising rates push housing to ‘an inflection point’

A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California.David Paul Morris | Bloomberg | Getty ImagesSharply rising mortgage rates are taking their toll on the nation's...

Developers are flooding Arizona with homes even as historic Western drought intensifies

California just experienced its driest January and February ever, and the snowpack is dangerously low. As the West enters its third year of drought, water sources are drying up, and restrictions on the Colorado River are now hitting all sectors of the ...

Mortgage rate soars closer to 5% in its second huge jump this week

The rate for the most common kind of mortgage just surged again.The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily. It is now 164 basis points higher than i...

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Decision on PAK vs ENG 1st Test on Thursday after viral outbreak affects England players, check PCB’s full statement

The first Test between England and Pakistan in Rawalpindi could be delayed according to a statement from the Pakistan Cricket Board (PCB) after many English players contracted a virus, which made them unwell.  According to the statement from PCB,...

Job openings fell in October amid Fed efforts to cool labor market

Workers sort packages at a FedEx Express facility on Cyber Monday in Garden City, New York, on Monday, Nov. 28, 2022.Michael Nagle | Bloomberg | Getty ImagesJob openings dipped in October amid the Federal Reserve's efforts to cool off a red-hot employm...

Shweta Tiwari celebrates son Reyansh’s birthday at amusement park, photos and videos go viral

Popular television actress Shweta Tiwari celebrated her son Reyansh’s sixth birthday at an amusement park. In the photos and videos that she shared on social media, she can be seen enjoying with her son. She shared a selfie with Reyansh in which they ...

GOP senators demand vote on military vaccine mandate in exchange for advancing NDAA

EXCLUSIVE: Conservative GOP senators are demanding that their party leaders in the Senate force a vote to eliminate the COVID-19 vaccine mandate in the military in exchange for advancing a year-end military funding bill, amid discontent from some about...