WASHINGTON — More Americans signed contracts to buy homes in September, a sign that the housing market is still benefiting from lower mortgage rates. The National Association of Realtors said Tuesday that its pending home sales index rose 1.5% from August to September to 108.7, its highest level since December...
US Single-Family Homebuilding Ticks up, Apartments Fall
WASHINGTON — U.S. homebuilding fell last month after reaching a 12-year high in August, driven by a sharp decline in the construction of new apartments. Yet single-family home construction ticked higher for the fourth straight month. The Commerce Department said Thursday that overall housing starts in September dropped 9.4% to...
Under Newsom, California Housing Crisis Gets Worse, Not Better
Gov. Gavin Newsom's grand plan of building 3.5 million housing units by 2025 is off to a terrible start. In the first six months of 2019, builders gained approval for 51,178 new homes in California, nearly 20% fewer than the same period a year earlier. That puts the state on track...
Home Sales Fall 4.9% in Slow Start to Spring Buying Season
WASHINGTON — Sales of existing U.S. homes fell in March after a huge gain the previous month, held back partly by a sharp slowdown among the most expensive properties. The National Association of Realtors said Monday that home sales fell 4.9% to a seasonally adjusted annual rate of 5.21 million,...
US Mortgage Rates Post Biggest Drop in Decade to 4.06%
WASHINGTON — Purchasing a home just became a lot cheaper, thanks mostly to the Federal Reserve's decision last week to put its interest rate hikes on hold for now. Mortgage buyer Freddie Mac said Thursday that the average 30-year fixed rate mortgage plunged to 4.06 percent this week, down from...
US Mortgage Rates Slipped This Week
WASHINGTON — U.S. long-term mortgage rates slipped this week, reflecting the stock market decline and rush by investors to Treasury notes. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed-rate mortgage fell slightly to 4.62 percent from to 4.63 percent last week. Rates averaged...