I’m the chief economist of a mortgage firm that has funded more than $100 billion in loans. These are 3 things to know about the housing market now.

Cameron Findlay As home prices and mortgage rates march upwards, and housing inventory remains seriously constrained, many buyers are wondering: Should I buy? And if I want to buy, what do I need to know about the housing market now? That’s why MarketWatch Picks created a series where we ask prominent economists and real estate … Read more

I’m the chief economist of a mortgage firm that has funded more than $100 billion in loans. These are 3 things to know about the housing market now.

Cameron Findlay As home prices and mortgage rates march upwards, and housing inventory remains seriously constrained, many buyers are wondering: Should I buy? And if I want to buy, what do I need to know about the housing market now? That’s why MarketWatch Picks created a series where we ask prominent economists and real estate … Read more

Housing Affordability Plunges to Its Lowest Level Since 2006. The Market’s ‘Great Slowdown’ Is Here.

Text size Mortgage originations are down about 30% in the second quarter, according to the Bank of America Institute’s report. Photo by Justin Sullivan/Getty Images A “great slowdown” is happening in the US housing market, a new report from Bank of America says, as mortgage originations shrink and spending on household items softens. Amid weak … Read more

Housing affordability plunges to lowest level since 2006. The property market’s ‘great slowdown’ is here, Bank of America says

A “great slowdown” is happening in the US housing market, a new report from Bank of America says, as mortgage originations shrink and spending on household items softens. Amid weak home sales numbers, builder confidence, and new construction, there’s a lot of chatter about whether the housing sector is in a recession. New data from … Read more

Market Downturn Weighs on Wells Fargo Profit

A slowdown in mortgage lending and a decline in the value of equity investments helped send Wells Fargo & Co.’s second-quarter profit down 48%. The San Francisco-based bank said it earned $ 3.12 billion in the quarter, down from $ 6.04 billion a year ago. Per-share earnings totaled 74 cents, below the 80 cents expected … Read more

China Property Market Shudders as Buyers Threaten to Stop Mortgage Payments

Town Cao Li spirit Rebecca Feng July 14, 2022 10:48 am ET Global investors and home buyers in China are losing confidence in the country’s property market, which has entered a new stage of turmoil after a year-long slide in sales, stalled projects and mounting real-estate developer defaults. This week, a movement among frustrated homeowners … Read more

Mortgage Market Tumult Pushes Pimco-Backed Home Lender Into Chapter 11

Residential lender First Guaranty Mortgage Corp. filed for bankruptcy, citing worsening conditions in the mortgage market as home sales slow and fewer home borrowers refinance due to rising interest rates and tight housing supply. First Guaranty cut 471 jobs, nearly 80% of its workforce, and ceased loan originations ahead of Thursday’s chapter 11 filing. The … Read more

US Existing-Home Sale Prices Hit Record of $ 407,600 in May

The relentless climb in US home values ​​continued in May, when median prices shot above $ 400,000 for the first time while sales activity slowed under pressure from higher mortgage costs. Rapidly rising interest rates are rippling through US markets as the Federal Reserve tries to combat inflation. Stocks entered a bear market this month, … Read more

Millions more homebuyers may be priced out of housing market, as 30-year mortgage rate spikes after Fed’s biggest rate hike since 1994

Pity those first-time house buyers. On Wednesday, the US Federal Reserve raised the benchmark interest rate by 75 basis points to a 1.5% to 1.75% range, the biggest increase since 1994 as it tries to tame rising inflation, which has reached a 40-year high. Eric Finnigan, a director at John Burns Real Estate Consulting, wrote … Read more

Hot Housing Market Keeps Home Foreclosures at Bay

The US moratorium on home foreclosures ended nearly a year ago, but the sizzling housing market is still protecting many delinquent mortgage borrowers from losing their homes. The pandemic that wiped out tens of millions of jobs in the spring of 2020 had stirred fears of a home-foreclosure surge similar to the one following the … Read more