Applications for home mortgages dropped last week for a second-straight week as a spike in interest rates stymied demand for refinancing, the Mortgage Bankers Association says.
The sales pace is back to what it was in 2005 and 2006, but the circumstances are of course very different. Now it's about stiff competition for limited supply.
Applications for home mortgages dropped last week for a second-straight week as a spike in interest rates stymied demand for refinancing, the Mortgage Bankers Association says.
New house prices in 70 major cities rose by an average of 4.3 percent in April from a year earlier, accelerating from 3.1 percent in March. The Financial Times reports.
Thanks to the brightening employment picture and an uptick in the housing market, Americans are packing up and relocating. And the pace is likely to pick up this summer.
Prices are just stabilizing in South Carolina, but in Long Island's Hamptons, home prices are roaring back and rentals are fully booked for the season.
With housing now in recovery and apartment rents rising, there is new concern that tenants and investors alike will move out of the multi-family space.
The talk radio personality has reportedly bought a piece of oceanfront property that is the highest dollar deal recorded this year in the tony Florida town.
The world's wealthy are pouring more of their fortunes into prime vineyards, and brokers say demand is rising for raw acreage as well, prompting Christie's to start a new real estate service.