Housing shortage starts easing as listings surge in June

A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters A historic housing shortage brought on by the one-two punch of slow construction and strong pandemic-induced demand is finally starting to ease. Active listings for homes jumped 19% in June, the fastest annual pace since Realtor.com began tracking the … Read more

Mortgage demand stalls again, even as interest rates swing briefly lower

People wait to visit a house for sale in Garden City, Nassau County, New York. Xinhua News Agency | Getty Images After rising steadily for three weeks, mortgage rates dipped slightly last week, prompting a small increase in refinance activity. Activity from homebuyers, however, pulled back further, leaving total mortgage demand basically flat from the … Read more

Home price increases slowed slightly in April, says S&P Case-Shiller

People walk into a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Home price increases slowed ever so slightly in April, but it is the first potential sign of a cooling in prices. Prices rose 20.4% nationally in April compared to the same month … Read more

Pending home sales post surprise increase in May

A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC. Saul Loeb | AFP | Getty Images Pending home sales, a measure of signed contracts on existing homes, rose slightly in May, up 0.7% compared to April, according to the National Association of Realtors. That broke a six-month … Read more

Demand for adjustable-rate mortgages surges, as interest rates jump

A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-home sales declined, the median price … Read more

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 is the weakest reading since June 2020, which was during the early months … Read more

What stagflation is, and how to prepare for it

Runaway inflation has raised fears that the economy is headed towards a return of stagflation but a host of Wall Street banks such as Goldman Sachs and HSBC believe there remain opportunities for investors to safely navigate this tricky backdrop. UCG | Getty Images What is stagflation? Stagflation is a term coined in the 1970s … Read more

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 same predicament that it was over a decade ago, when … Read more

Here’s what the Fed’s highest rate hike in 28 years means for you

What the federal funds rate means to you The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate that consumers pay, the Fed’s moves still affect the borrowing and saving rates they see every day. … Read more