U.S. single-family homebuilding tumbled in October likely as Hurricanes Helene and Milton depressed activity in the South while permits rose slightly, indicating that an anticipated rebound probably would be muted by higher mortgage rates.The report from the Commerce Department on Tuesday suggested that residential investment, which includes homebuilding, remained subdued at the start of the fourth quarter after contracting in the last two quarte
U.S. homebuilder sentiment rose to a seven-month high in November and expectations for sales in the next six months surged to the highest in about two-and-a-half years after a Republican election sweep fueled optimism for regulatory changes that could lead to more residential construction, a survey said on Monday.The National Association of Home Builders/Wells Fargo Housing Market Index rose to 46 this month, the highest since April, from 43 in O
US banks added to credit reserves in the first half of 2024 to protect against further losses from commercial real estate and some consumer loans, the Federal Reserve said in its twice-yearly supervision and regulation report Friday.The delinquency rate for CRE loans has increased to its highest level in a decade, the Fed noted, jumping to 11% at the large banks in the second quarter of 2024.“The deterioration in CRE loans has so far been mos
Supervisors at the Federal Reserve are most concerned about rising delinquencies and governance issues at U.S. banks, according to the agency's latest supervision and regulation report.The semiannual report, released Friday, highlights the continued weakening of commercial real estate loan portfolios and certain consumer lending products during the second and third quarters of the year. It also shows that the share of large banks that have rec
Buying a home is one of the largest personal and financial decisions you can make. For many buyers, the process includes finding a loan that will help you pay for your new home over time. An agent who is a REALTOR® can help you learn about your options. Here’s what else you need to know:What is a mortgage, and how do I get one? A mortgage is a loan offered by a bank or lender that lets you borrow money to purchase a home and repay over
The Counselors of Real Estate released its annual list of the most pressing topics facing commercial and residential real estate in the year ahead.Political uncertainty, soaring insurance costs and the growth of artificial intelligence are among the hot topics that likely will have a big impact on the real estate industry in 2025, according to the Counselors of Real Estate, a global organization of property advisers. Each year, CRE releases its
Grow your real estate business, save time and build your wealth. 24/7 World-Class Support, Free Client Leads, Custom Website, Low Fees, and more!
Commercial and multifamily mortgage loan originations increased 59% year-over-year in the third quarter of 2024 and increased 44% from Q2 2024, the Mortgage Bankers Associations (MBA) said Friday. Loan volume rose for all property types except office, which saw a 3% Y-O-Y decrease. Dollar volume for healthcare loans rose 510% Y-O-Y, while hotel loans were up 99%, retail rose 82%, industrial rose 57% and multifamily increased 56%.“After a slow s
Today, and every day, we stand in deep gratitude for the courage, dedication, and sacrifices made by our U.S. veterans. Your service exemplifies the highest standards of bravery and selflessness. In your honor, we commit to working with the same dedication and resilience that you have shown throughout your service. Thank you for protecting our freedom and inspiring us all.
The Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to right-size monetary policy.In a follow-up to September’s big half percentage point reduction, the Federal Open Market Committee lowered its benchmark overnight borrowing rate by a quarter percentage point, or 25 basis points, to a target range of 4.50%-4.75%. The rate sets what banks charge e
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
