Home Depot Inc. cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases. The world’s largest home-improvement retailer said it expects adjusted earnings per share to decline 5% from a year ago, lower than its previous forecast. The company said its profit and comparable sales came […]
Home Depot cuts forecast on weak demand for big-ticket items Read More »
Mortgage rates rose by 2 basis points this week, but did not impact home purchase activity during the period, Freddie Mac said. “Rates for the 30-year and the 15-year fixed-rate mortgage essentially remained flat this week, but we did see purchase activity increase, which is encouraging,” said Sam Khater, Freddie Mac’s chief economist. Right now,
Homebuyer activity climbs despite minor rate uptick Read More »
Jeremy Erickson/Bloomberg Key insight: Economists see validity in Fed Gov. Miran’s argument that shelter inflation is coming down, but note the impact to overall inflation may vary in significance. Expert quote: “I don’t think that rental disinflation is really going to be enough of a reason on its own to say ‘mission accomplished on inflation.’ I
Fed Gov. Miran has a view on the economy. Is it persuasive? Read More »
The Senate-approved budget extender has several provisions around the Veterans Affairs partial claims program to help distressed borrowers. In particular, one section of the bill is called in part Improvements to Partial Claim Program. A change extends the period for a second partial claim filing following a natural disaster to 180 days from 120 days.
Senate-approved budget bill adds VA partial claims extension Read More »
Refinancing slowed down in October after consecutive months of dramatic spikes, pushing down rate-lock activity. Rate locks fell 4.2% to 122 from September to October, but were still up 18% on a year-over-year basis, according to Optimal Blue’s latest Market Advantage mortgage data report. Purchase locks decreased 1.5% last month, following seasonal trends, while rate-and-term
Refi spike tapers off despite falling rates Read More »
Mortgage credit availability hit its highest level in three years last month, driven by a significant growth in conventional mortgages. The Mortgage Bankers Association’s Mortgage Credit Availability Index increased 2.3% to 106.8 in October, marking the fourth consecutive month of growth, following marginal gains of 0.2%, 0.1% and 0.4%, respectively. The score is also up
Mortgage credit availability hits 3-year high Read More »
Home prices continue to rise across the country, despite the market tilting in favor buyers. The national median single-family existing-home price increased 1.7% year over year to $426,800 in the third quarter, the same annual growth rate as the second quarter, an analysis by the National Association of Realtors found. “Home sales have struggled to
Home prices trend up despite little seller leverage Read More »
The Department of Housing and Urban Development has announced a December vacant-loan auction for properties secured by Home Equity Conversion mortgages. HVLS 2026-1 goes on sale on Dec. 9 and consists of first liens secured by Federal Housing Administration-backed HECMs, where borrowers and their spouses are deceased. Total unpaid balance for the pool of loans
HUD opens bidding for latest vacant-loan sale Read More »
Housing discrimination complaints were close to their two-decade high in 2024, alarming advocates concerned about a pull-back in enforcement, the National Fair Housing Alliance said. Its 2025 Fair Housing Trends Report found 32,321 discrimination complaints were filed in the prior year. While this was lower than the 34,150 complaints received for 2023, it is still
Fair housing complaints stay near historic peak in 2024 Read More »
The median age of first-time homebuyers in the US has climbed to a record of 40 as soaring prices and mortgage rates over the last few years delay homeownership for millions of Americans. The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a
US median first-time homebuyer age now at record-high of 40 Read More »