U.S. single-family homebuilding fell in June, but permits for future construction rose to a 12-month high on the weakness of the existing home sales market. The decline in housing starts came after a massive 18.7% […]
Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. The lender claims actions by Katie […]
Applications for refinancing rebounded last week from the previous week’s holiday-related slowdown but purchase applications slid lower. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 1.1 percent […]
The lack of existing homes for sale on the market is driving a resurgence of home-price growth and supporting increases in new home construction, according to Fannie Mae’s Economic & Strategic Research (ESR) group. “The […]
The rate of both construction permitting and housing starts retreated from their May levels last month. The significant increase in estimated starts from April to May was also revised lower. The U.S. Census Bureau and […]
Housing demand collapsed in 2022, and the homebuilders’ confidence survey looked like a waterfall collapse similar to during COVID-19 and the great financial crisis. However, something changed toward the end of 2022, and the homebuilders […]
Bank of America (BAC) reported double-digit growth in revenue and net income in the second quarter on Tuesday, as higher interest rates boosted income it generated from lending money. Why Does This Matter? Monetary policy tightening by […]
LONDON — UK inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually. Economists polled by Reuters had projected an annual rise in the headline consumer price index of 8.2%, following May’s […]
In the summer of 2020, something counterintuitive occurred in the housing market. Despite the unemployment rate remaining in double digits, the market underwent a significant shift, transitioning into a boom. This surge was a direct result of […]
Stocks extended a recent upswing on Tuesday as investors absorbed a stream of quarterly earnings, with Bank of America (BAC) and Morgan Stanley (MS) among those reporting. The Dow Jones Industrial Average (^DJI) led the way […]
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