Rising housing prices are causing a sharp jump in home equity, making homeowners wealthier. It is also bringing thousands of borrowers up from underwater on their mortgages.
Mortgage applications to purchase a home increased 4 percent for the week and were 9 percent higher than a year ago.
As the sharp gains in home prices continue, more markets are seeing values higher than their local economies can support.
Pending home sales, which measure signed contracts to buy existing homes, fell a wider-than-expected 1.3 percent in April, compared to March, according to the National Association of Realtors.
Billions of dollars in new development is going up in some of the riskiest locations. Some developers are putting climate resilience front and center, while others are putting their projects and investors at risk.
A drop in mortgage interest rates did nothing to spur borrowers to action. Applications for to both refinance and to purchase a home fell for the week.
The run-up in home prices is gaining speed, causing some to warn that the increases will not be sustainable for long.
As gas prices move higher, potential homebuyers already squeezed by higher mortgage rates and higher home prices, may reconsider.
A sharp rise in interest rates last week meant far fewer homeowners could benefit from a mortgage refinance.
A monthly index of builder sentiment rose 2 points in May, 1 point higher than analysts expected.
A sharp jump in the 10-year Treasury yield is sending mortgage rates to their highest level in nearly 7 years.
A new fintech real estate company backs buyers with cash, so they can make all-cash offers, even if they don't have the cash.
Interest rates for home loans fell for just the third time this year, but homeowners and homebuyers weren't impressed.
Despite rising mortgage rates and one of the most competitive spring housing markets on record, consumer confidence in housing hits a new high.
Both homeowners and homebuyers took a deep breath as rates continued to rise last week, pulling back a bit from the mortgage market.
March home prices have surged 7 percent higher and now half of the nation's largest housing markets are considered overvalued.
The March read on pending home sales, which measures signed contracts to buy existing homes, rose just 0.4 percent for the month and was 3 percent lower compared to a year ago. Realtors blame tight supply and weakening affordability.
How to take advantage of rising home equity.
Low supply and high demand are pushing prices higher everywhere, but the situation varies slightly city-to-city.
After falling to a 50-year low, the U.S. homeownership rate has been steadily rising, driven by millennials. That turned around in the first part of this year, likely due to weakening affordability.