Housing Market News

Market Watch

Housing market stocks give up gains as another jump in bond yields takes shine off strong data

Shares of companies in the real estate services and home building space backed way off their intraday highs on Tuesday, as another surge in Treasury yields to a more-than decade high took the early sh..

Loonie bulls reel as Bank of Canada trails Fed on terminal rate bets

TORONTO — As higher borrowing costs slow Canada’s outsized housing market, investors are betting the Bank of Canada will raise interest rates to a lower end-point than the Federal Reserve, an outcome ..
Market Watch

U.S. New Home Sales Unexpectedly Surged in August

New home sales in the U.S. increased sharply in August, suggesting a respite in the current housing market slowdown amid high prices and rising mortgage rates. Here are the main takeaways from the Com..

Homebuyers are backing out of deals at record-high rates in these 10 U.S. cities

Amid rising mortgage costs, the number of homebuyers backing out of contracts increased to record-setting levels in the last three months — especially in cities that were real estate hotspots through ..
Fox Business

US home price growth cooled in July at fastest pace since 1980s

Home price increases slowed in July for the third consecutive month, evidence that are starting to slow activity in the housing market. Prices climbed 15.8% nationally in July from the previous year,..

These are the 10 U.S. cities where housing markets are cooling the fastest—and only one is in Florida

Redfin's 2022 report ranked Seattle, Washington as the city where the housing market is cooling off the fastest. The housing market is in flux right now, thanks to high mortgage rates, persistent inf..
Market Watch

Bed Bath & Beyond’s turnaround plan leaves ‘questions that have really not been answered to any degree’

When Bed Bath & Beyond Inc. reports fiscal second-quarter earnings on Thursday, analysts will have one big question on their minds: When will turnaround efforts pay off? The results for the home-good..
Market Watch

High rents and Fed's inflation fight to push key mortgage rate above 7%: BofA Global

America’s housing shortage and the Federal Reserve’s inflation battle look poised to push the benchmark 30-year mortgage rate above 7%, according strategists at BofA Global. More than a decade of und..

Home purchase cancellations are above 15% for the second straight month. It's important to know the financial repercussions

Amid higher interest rates and a softening housing market, home buyers are continuing to back out of purchase contracts at an elevated rate. About 64,000 home-purchase agreements were canceled in Augu..
Market Watch

'They’re waiting to see if home prices fall': Home buyers are backing out of contracts in the Sun Belt at a record rate

The tide has turned, and buyers are now backing out of deals in the Sun Belt as rates rise and home prices remain unaffordable. Once pandemic boomtowns, 15.2% of homes in cities in the Sun Belt that ..

In China, home buyers occupy their 'rotting', unfinished properties By Reuters

By Eduardo Baptista and Xiaoyu Yin GUILIN, China (Reuters) - For six months, home for Ms. Xu has been a room in a high-rise apartment in the southern Chinese city of Guilin that she bought three year..

UK home asking prices rise, tax cuts to spur demand: Rightmove By Reuters

LONDON (Reuters) - Asking prices for British homes advertised rose solidly this month and last week's cut to property purchase tax announced by finance minister Kwasi Kwarteng could fuel demand furthe..

Charting the Global Economy: Fed Headlines Concert of Rate Hikes

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The Federal Reserve, Bank of England and Sweden’s Riksbank were just a handful of centra..
Fox Business

US housing recession could send home prices tumbling 20%, economist says

U.S. home prices are finally falling from a record high notched earlier this year, and could tumble by as much as 20% by mid-2023, according to a top economist. Ian Shepherdson, the chief economist a..

U.S. mortgage rates rise to 6.29%, highest in 14 years By Reuters

(Reuters) - U.S. 30-year fixed-rate mortgages rose to 6.29% on Thursday, the highest level since 2008, according to (OTC: )'s mortgage market survey. Last week, rates averaged 6.02%. A year ago, home..

Britain cuts stamp duty tax on property purchases

LONDON — Stamp duty, a tax on house purchases, will be cut to help families to afford to buy homes, British finance minister Kwasi Kwarteng said, with threshold at which it is first paid doubling to 2..
Market Watch

Mortgage rates continue to climb, hitting 6.29% in latest week

The numbers: U.S. mortgage rates continue to climb, adding hundreds of dollars in costs to potential homeowners. The increase in mortgage rates followed the Federal Reserve hiking interest rates agai..

Fed's Powell: U.S. housing market headed for 'correction'

Federal Reserve Chair Jerome Powell on Wednesday said the U.S. housing market will probably go through a “correction” after a period of “red hot” price increases that have put home ownership out of re..
Market Watch

U.S. Home Sales and Prices Fell in August as Mortgage Rates Rose

U.S. existing home sales and prices fell in August from the prior month as mortgage rates climbed toward their highest level in 14 years. Sales of previously owned homes dropped 0.4% in August from J..
Wall Street Journal

August Home-Sales Report Comes as Mortgage Rates Rise

The National Association of Realtors August report on existing-homes sales will offer a broad look on how the housing market weathered higher mortgage rates at the end of the summer. NAR will release..

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Intersting Reads

UK government bonds: why are yields rising and why does it matter?

Kwasi Kwarteng’s tax-cutting mini-budget triggered a collapse in the pound and surge in the UK’s borrowing costs. Sterling fell at one point on Monday to its lowest level against the dollar in histor..

Marlon Moraes coming out of retirement to join PFL on multifight deal

Former UFC bantamweight title challenger Marlon Moraes has decided to come out of retirement, and will do so under a new multi-fight deal with PFL. In addition to the new deal, Moraes (23-10-1) has a..
ESPN CricInfo

MCC U-turn as Eton-Harrow fixture is reinstated following members' revolt

Oxford-Cambridge will also be hosted at ground in 2023, with vote due at AGM in May Lord's will play host to Eton-Harrow again in 2023, pending a vote by the membership • Getty Images MCC has perfor..