Americans worried that a looming U.S. government shutdown could derail their plans to take out a mortgage or refinance their home loan can breathe easy — mostly. Housing experts says lenders will continue processing mortgages as usual even if federal agencies close shop, while noting that a shutdown could lead to hitches for borrowers applying for government-backed…
US stocks fell on Wednesday, as Wall Street digested mixed messaging from Fed officials on US interest rates. The S&P 500 (^GSPC) slid 0.4% while the Dow Jones Industrial Average (^DJI) declined by about 0.3%, The tech-heavy Nasdaq Composite (^IXIC) dropped 0.4%. The declines marked a reversal from the indexes’ earlier gains. Debate over the…
Baby boomers now own a majority of U.S. homes and have the financial means to stay where they are, keeping the housing market stuck for the foreseeable future, according to top Wall Street analyst Meredith Whitney. The CEO of Meredith Whitney Advisory Group, whose prediction of the Great Financial Crisis earned her the moniker “Oracle of Wall Street,”…
By Lewis Krauskopf NEW YORK (Reuters) – As the U.S. Federal Reserve restarts interest rate cuts, housing shares are one of the areas of the stock market that may benefit, and they have perked up in recent weeks as markets priced in more monetary easing. On Wednesday, the U.S. central bank lowered its benchmark rate…
Mortgage rates are continuing to sink lower. According to Freddie Mac, the national average 30-year rate is now 6.50%, down six basis points in one week. The 15-year fixed mortgage rate is down nine basis points to 5.60%. Both are new lows for 2025. With rates on a downward trend, the share of mortgage applications…
(NewsNation) — Few are winning in today’s housing market, but that doesn’t mean affordability will be out of reach forever. A new Redfin analysis suggests housing costs could return to “normal” by 2030 if price growth stabilizes, incomes continue to rise and mortgage rates dip to 5.5%. “The path back to normal housing costs doesn’t…
As of late August, 15-year mortgage rates are hovering around 5.69% and 30-year mortgage rates around 6.58%, according to Freddie Mac. Just 10 weeks ago, 15-year loans topped 6% and 30-year loans neared 7%. Read More: Barbara Corcoran: This Is the ‘Real Problem’ With the Housing Market Right Now Find Out: 7 Tax Loopholes the…
In a sign of homesellers’ frustration with how long it’s taking to sell their properties, more owners are opting to pull their homes off the market rather than lower the asking price. That’s according to a recent report from Realtor.com finding that so-called delistings, or homes taken off the market without having been sold, were up 38%…
In a sign of homesellers’ frustration with how long it’s taking to sell their properties, more owners are opting to pull their homes off the market rather than lower the asking price. That’s according to a recent report from Realtor.com finding that so-called delistings, or homes taken off the market without having been sold, were up 38%…
Home Depot’s sales improved during its fiscal second quarter as consumers remained focused on smaller projects amid cost concerns and economic uncertainty, but its performance missed Wall Street’s expectations. Revenue for the three months ended August 3 climbed to $45.28 billion from $43.18 billion, but fell short of the $45.41 billion that analysts polled by…