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Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Total mortgage application volume was essentially flat for the week, rising just 0.5% according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan

LGI Homes Chairman and CEO Eric Lipar told CNBC on Friday he believes housing demand will remain robust even in the face of rising mortgage rates. A day earlier, Freddie Mac reported the 30-year fixed-rate mortgage reached its highest level since July after eclipsing 3%. And on Wednesday, the Mortgage Bankers Association’s seasonally adjusted index

People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images The spring housing market is shaping up to be the leanest and most competitive ever. A sharp drop in new listings partly due to severe weather, combined with already record-low supply,

A man enters a building with rental apartments available on August 19, 2020 in New York City. Eduardo MunozAlvarez | VIEW press | Corbis News | Getty Images Sales contracts in Manhattan soared by 73% in February, and brokers say the days of big price cuts and deals in the city may be ending. There

A residence belonging to Jeffrey Epstein at East 71st street is seen on the Upper East Side of Manhattan on July 8, 2019 in New York Kevin Hagen | Getty Images A reported deal to sell sex criminal Jeffrey Epstein’s notorious New York City mansion for about $50 million could unfreeze a compensation fund set

As the country went under lockdown, Americans were on the move. Over the last year, 1 in 20 adults moved from where they were living either permanently or temporarily due to the coronavirus outbreak, according to a recent report by the Pew Research Center. Most cited financial reasons for relocating, followed by a job loss

Dan Gilbert, chairman, Quicken Loans Anjali Sundaram | CNBC Tuesday’s dramatic and abnormal spike in the stock of Rocket Companies created a major windfall for founder Dan Gilbert, at least on paper. Shares of Rocket, where Gilbert is the majority shareholder, jumped more than 70% on Tuesday, adding $17.30 per share. According to InsiderScore.com and

Las Vegas Sands is selling Las Vegas. The price tag: $6.25 billion. Vici Properties said it will pay $4 billion for the real estate — comprising the Venetian, Palazzo and the Sands Expo Convention Center. Apollo Global Management will buy the operations for $2.25 billion, roughly half financed by Sands. The sale comes as Las

tupungato | iStock | Getty Images Between the federal stimulus package passed in December and the one making its way through Congress, there could soon be more than $45 billion in financial assistance available to those who’ve fallen behind on their rent. All states have already been allocated funds from a $25 billion pot of

Rows of houses in Las Vegas. Jacob Kepler | Bloomberg | Getty Images Doma, a firm that looks to disrupt the real estate title insurance market, has agreed to combine with Capitol Investment Corp. V, a publicly traded special purpose acquisition company. Doma, formerly known as States Title, has a less than 1% share of

Existing home sales last year reached their highest levels since 2006. However, increasing numbers of climate disasters across the country have sparked concern about how safe homes are. Potential buyers rarely wonder “what the flood plain is here, or do they look around and see this beautiful forest and say, ‘Oh, my God, it’s going

Nurses display a ‘Stay Home’ sign on their vehicle during a car caravan of nurses calling for people to remain home amid a surge of COVID-19 cases in El Paso on November 16, 2020 in El Paso, Texas. Mario Tama | Getty Images A federal judge in Texas ruled on Thursday evening that the national

CALVERTON, N.Y. – The homebuilding industry is on the edge of a revolution. At least that’s the way Kirk Andersen sees it. He just used 3D-printing technology to build a 900-square-foot model home on Long Island. He is about to build another one, too – the first 3D-printed home in the United States to be

A pedestrian walks by the closed GAP flagship store on August 18, 2020 in San Francisco, California. Justin Sullivan | Getty Images Gap said Wednesday it will invest $140 million to construct a distribution center in Longview, Texas, as part of its effort to double its online business over the next two years. Upon completion,

Kathy Kraninger, former president Donald Trump’s appointee to head the Consumer Financial Protection Bureau. Andrew Harrer/Bloomberg via Getty Images “Big deal” Both are a type of qualified mortgage, a category that carries legal protections for lenders from consumer lawsuits. That may happen, for example, if borrowers can’t make monthly payments and lose their homes to

An “Open House” sign is displayed in the front yard of a home for sale in Columbus, Ohio. Ty Wright | Bloomberg via Getty Images Higher mortgage rates and a winter weather disaster combined to weaken mortgage demand last week. Total mortgage application volume fell 11.4% compared with the previous week, according to the Mortgage

A houseÕs real estate for sale sign shows the home as being Òunder contractÓ in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images December is usually the slowest month for the housing market, but price gains didn’t slow down one bit in 2020. In fact, they rose at the fastest pace

adamkaz | E+ | Getty Images More Americans are planning to move this year due to the flexible work from home lifestyle that the Covid-19 pandemic has ushered in, market researcher The NPD Group said in a recent blog post. Nearly 20% of people in the country are working from home full time as of

New York Attorney General Letitia James said Monday that her office is continuing to actively investigate the Trump Organization’s alleged inflation and deflation of property values to evade tax liability in the state and receive other financial benefits. James also said that the U.S. Supreme Court’s decision to allow the Manhattan District Attorney office to

A house for sale on December 17, 2020 in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images After a brief pullback in December, homebuyers returned to the market, although they are still being hampered by record low supply. Closed sales of existing homes in January increased 0.6% compared with December, according to the

Nantucket, Massachusetts, an historic summer vacation destination, became a year-round refuge last year, thanks to the coronavirus pandemic. The run on real estate on the tiny, toney island is now causing a shortage of both homes for sale and rentals, and prices for both are going through the roof. The dollar volume of sales on

Historic row houses in Colombia Heights neighborhood of Washington DC, USA amedved | iStock | Getty Images Homeowners struggling amid the coronavirus pandemic received some welcome news on Tuesday, with the Biden administration announcing it will extend forbearance and foreclosure relief programs. The White House said that the move will benefit the 2.7 million homeowners

Drew Houston, Dropbox Co-Founder and CEO, speaking at CNBC’s @Work conference in San Francisco on November 4, 2019. Arun Nevader | CNBC Dropbox on Thursday reported a $398.2 million one-time charge in the fourth quarter to reflect the company’s shift to remote work. As the coronavirus emerged in the U.S. last year, companies closed offices

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 Images Consumers want more newly built, affordable homes, but builders are finding that hard to deliver, especially as prices for framing lumber spike

The real estate market in Dubai is likely to remain subdued for the next two years as the city recovers from the Covid crisis, according to a major Emirati property developer. “I see, still, a soft market for [2021 and 2022],” said Hussain Sajwani, chairman of Damac Properties. That means there will be more potential sellers than

President Joe Biden directed federal housing regulators to extend mortgage forbearance programs for an additional six months and prolong foreclosure relief programs on Tuesday in a move that will cover an estimated 70% of mortgages for single-family homes in the U.S. As the latest Covid-19 relief package continues to make its way through the Congressional

A contractor works on the basement of a home under construction in the Toll Brothers Regency at Palisades community in Charlotte, North Carolina. Luke Sharrett | Bloomberg | Getty Images Buyer demand for newly built homes continues to surge, and that is keeping builder confidence high even as building material prices climb. Builder sentiment rose

A real estate agent exits a home for sale in Lancaster, Ohio. Ty Wright | Bloomberg | Getty Images Another week of rising rates spurred homeowners and buyers to pull back from the mortgage market, and the trend is not expected to turn any time soon. Total mortgage application volume fell 5.1% last week from

Paying for a roof over your head is usually the top-line item of any budget. Rob and Reshawn Lee viewed their mortgage payment as one of the biggest barriers keeping them from quitting their jobs and becoming entrepreneurs. Rob had a successful career in IT, and Reshawn worked in sales. Together, they would take home

Driven by advances in tech and the advent of high-speed internet connections, many of us now have easy access to a raft of information about the buildings we live in. Thanks to the proliferation of hardware and software within the home, this trend shows no sign of letting up and comes in many different forms,