Browsing Tag
home sales
Average US long-term mortgage rates climb to 6.29% this week
By MATT OTT - AP Business Writer
WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest…
Housing-Affordability Index Drops to Lowest Level Since 2006
Record home prices and higher mortgage rates in May made it the most expensive month since 2006 to buy a home, prompting more buyers to give up and pressuring sellers to cut asking…
Record Home Prices Force Prospective Buyers to Rent
Steeper borrowing rates and high prices in the housing market are leading many buyers to give up. That is welcome news for owners of single-family rental homes.Prospective home buyers face…
Retail sales in May slip 0.3% amid surging inflation
By ANNE D'INNOCENZIO - AP Retail Writer
NEW YORK (AP) — Americans cut their spending unexpectedly in May compared with a month before, underscoring how…
Housing Boom Fails to Lift All Homes Above Previous Cycle’s Peak
The housing boom of the past two years propelled U.S. home prices to record highs throughout the country. But in hundreds of cities, the red-hot market hasn’t yet brought back prices to…
As China’s Private Developers Retreat, State-Backed Rivals Gain Ground
HONG KONG—A nearly yearlong shakeout in China’s housing market is throwing up some clear winners: state-owned developers.As former industry leaders from
China…
Wall Street, global markets bounce back on China’s rate cut
Associated Press
NEW YORK (AP) — Wall Street pointed toward gains before the opening bell Friday after a surprise interest rate cut from China lowered,…
U.S. Home Sales Cool Amid Higher Rates, Record Prices
Rapidly rising mortgage rates and record home prices are cooling the U.S. housing market, as April sales dropped for the third straight month and fell to their weakest pace in nearly two…