A view of East London from an aerial view. As the sun sets its glow is captured on the skyscrapers of Canary Wharf – the second business district of London.Ray Wise | Moment | Getty ImagesOpportunity abounds for investors looking to seize on distressed real estate assets in the wake of the coronavirus pandemic, according… More
Blake Nissen | The Boston Globe via Getty ImagesAmerican homeowners are $1 trillion richer as the pandemic-driven housing boom pads their pockets.As prices rise, home equity multiplies. In the past year, homeowners with mortgages, representing about 63% of all properties, have seen their equity increase by 10.8%, according to CoreLogic.That equates to a collective $1… More
A house for sale in Sarasota, FloridaScott Mlyn | CNBC Thanksgiving week isn’t usually a popular time for homebuying, but most economic numbers this year are incomparable, especially in the pandemic-spiked housing market. Mortgage applications to purchase a home jumped 9% last week from the previous week, according to the Mortgage Bankers Association’s seasonally and holiday adjusted… More
Patrick T. Fallon | Bloomberg | Getty ImagesMortgage rates have been sitting near record lows since the start of the coronavirus pandemic, and while millions of Americans have already refinanced their home loans this year, very few of them have taken cash out in the process.Cash-out deals made up just 27% of all mortgage refinances… More
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
November is not historically a strong season for homebuying, but this one, like the rest of 2020, isn’t following any rules.Homebuyer demand is surging again, after taking a slight break around the election.Mortgage applications to purchase a home rose 4% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was a… 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
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