U.S. Home Prices Fall Amid Brutal Winter Cold

June 27, 2015

Gene J. Puskar/APBy CHRISTOPHER S. RUGABER WASHINGTON — U.S. home prices fell for the second straight month in December as brutally cold weather, tight supply and higher costs slowed sales. The Standard & Poor’s/Case-Shiller 20-city home price index declined 0.1 percent from November to December, matching the previous month’s decline. The index isn’t adjusted for seasonal variations, so the dip partly reflects slower buying as winter weather set in. For…

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Study: Housing Recovery Uneven Across U.S.

June 24, 2015

Prev1 of 2Next Joe Raedle/Getty ImagesBy Margaret Chadbourn WASHINGTON — The U.S. housing sector is likely to experience an uneven recovery over the next five years, with some local markets bouncing back faster than others, according to a study released Wednesday. By 2018, the median price of single-family homes will be close to the peak reached in 2006 before the national market cratered, according to the study from the Demand…

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Mortgage Rates Fall, Reverse Recent Upward Trend

June 21, 2015

Daniel Acker/Bloomberg via Getty Images WASHINGTON — Average U.S. rates on fixed mortgages fell after three weeks of increases, edging closer to historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan declined to 4.28 percent from 4.37 percent last week. The average for the 15-year mortgage fell to 3.32 percent from 3.39 percent. A report released Tuesday by real estate data provider…

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Home Prices Rise More Than Forecast in January

June 18, 2015

Justin Sullivan/Getty ImagesBy Rodrigo Campos NEW YORK — U.S. single-family home prices rose in January and slightly beat expectations, a closely watched survey said Tuesday. The S&P/Case-Shiller composite index of 20 metropolitan areas rose 0.8 percent in January on a seasonally adjusted basis. A Reuters poll of economists had forecast a 0.7 percent rise. “The housing recovery may have taken a breather due to the cold weather,” said David Blitzer,…

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Mortgage Applications Slip in Latest Week

June 15, 2015

Daniel Acker/Bloomberg via Getty ImagesBy Luciana Lopez NEW YORK — Applications for U.S. home mortgages fell in the latest week as interest rates edged higher, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 2.1 percent to 373.3 in the week ended March 7. The index hit its lowest level since December…

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New Home Sales Fall to 5-Month Low

June 12, 2015

Tony Dejak/APBy Lucia Mutikani WASHINGTON — Sales of new U.S. single-family homes fell more than expected and hit a five-month low in February, pointing to continued weakness in the housing market. The Commerce Department said Tuesday that sales fell 3.3 percent to a seasonally adjusted annual rate of 440,000 units, the lowest level since last September. January’s sales were revised down to a 455,000-unit pace from the previously reported 468,000-unit…

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Mortgage Applications Tumble to Lowest Level in 2 Decades

June 9, 2015

AlamyBy Diana Olick Mortgage applications to buy a home fell last week to the lowest level in nearly two decades, according to a weekly survey from the Mortgage Bankers Association. The report is a clear sign of weakness in buyer demand heading into the usually busy spring housing season. “Purchase applications were little changed on an unadjusted basis last week, but this is the time of a year we would…

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Mortgage Applications Fall as Interest Rates Pick Up

June 6, 2015

Ron Antonelli/Bloomberg via Getty ImagesBy Caroline Valetkevitch NEW YORK — Applications for U.S. home mortgages fell last week as interest rates rose to the highest level since January, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, declined 3.5 percent to 361.2 in the week ended March 21 from an upwardly revised 374.2…

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New Home Sales Surge Nearly 10% in January

June 3, 2015

Justin Sullivan/Getty ImagesBy Lucia Mutikani WASHINGTON — Sales of new U.S. single-family homes surged to a 5½ year high in January, possibly easing concerns of a sharp slowdown in the housing market. The Commerce Department said Wednesday that sales jumped 9.6 percent to a seasonally adjusted annual rate of 468,000 units, the highest level since July 2008. December’s sales were revised up to a 427,000-unit pace from the previously reported…

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Mortgage Rates Edge Up, Remain Near Historic Lows

May 31, 2015

David Paul Morris/Bloomberg via Getty Images WASHINGTON — Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels. Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan increased to 4.37 percent from 4.28 percent last week. The average for the 15-year mortgage rose to 3.38 percent from 3.32 percent. Mortgage rates have risen about a full percentage point since hitting…

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