Consumer confidence in the housing market hits the lowest in over a decade

A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas. Ed Lallo | Bloomberg | Getty Images Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic, according to a monthly survey released Monday by … Read more

Knight Frank – PCL sales market gains momentum as ove…

Global property firm Knight Frank has revealed the pipeline of transactions in prime London residential markets grew further in July as supply continued its game of catch-up with demand. The agency reports that the number of offers accepted across London last month was the highest figure in 10 years, underlining the current strength of appetite … Read more

Banks cut mortgage offers amid economic panic

Home buyers will hit a bottleneck taking out new loans as lenders pull mortgages at the fastest rate since the pandemic-induced housing market shut down. Banks have responded to intensifying fears of major house price falls by reducing options for homeowners. The number of deals fell by 17pc between May and the end of July, … Read more

A ‘shakeout’ among mortgage lenders is coming

A sign hangs from a branch of Banco Santander in London, UK, on ​​Wednesday, Feb. 3, 2010. Simon Dawson | Bloomberg via Getty Images Banks and other mortgage providers have been battered by plunging demand for loans this year, a consequence of the Federal Reserve’s interest rate hikes. Some firms will be forced to exit … Read more

Everything Real Estate: Consider your pet’s needs when looking at properties Money

Buenas yan Hafa Adai, PDN readers! During this month’s column, Sandy and I would like to talk a little bit about our FURever friends! And these bundles of joy generally have four legs. But, sometimes two. We give them the cutest names, we love them until the end of time, we care for their emotional … Read more

Mortgage rates fell sharply after negative GDP report and Fed’s latest hike

Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest rate hike, according to Mortgage News Daily. The rate fell even further Friday … Read more

Florida plans to backup insurance companies facing downgrade

TALLAHASSEE, Fla. (AP) — Florida has taken action to back up property insurance companies facing a downgraded rating in an effort to help thousands of homeowners comply with mortgage requirements rather than being forced to seek new policies. The state-created Citizens Property Insurance Corp. will provide reinsurance for 17 companies that the rating company Demotech … Read more

‘China to rescue property developers after homebuyers boycott mortgages’

Chinese authorities are promising to establish an initial rescue fund of $11.8 billion (80 billion yuan) to offset a looming crisis in the real estate sector, where home buyers routinely purchase residences from developers’ plans and begin making mortgage payments before the dwellings are finished, media reports said. By having customers purchase homes “off plan,” … Read more

Pending home sales fell 20% in June versus a year earlier, as mortgage rates soared

A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris Bloomberg | Getty Images Signed contracts to purchase existing homes dropped 20% in June compared with the same month a year ago, the National Association of Realtors said Wednesday. On a monthly basis, pending home sales … Read more