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...America’s real estate market remains stuck in the mud. Existing home sales, which make up most of the US housing market, totalled just 4.09mn units in 2023, a 30-year low....
...As America’s largest home-improvement retailer, Home Depot is often seen as a proxy for the US housing market....
...US existing home sales: Economists expect that sales of existing homes in the US declined to 4.2mn in the year to March, down from 4.38mn in the year to February, as high mortgage rates deter homeowners...
...As mortgage rates hover around 6 per cent, nearly 70 per cent of Manhattan homes purchased in the final quarter of 2023 were bought without a mortgage, according to Pamela Liebman, the chief executive of...
...Home Depot, which operates more than 2,300 retail stores across North America, said on Thursday it believed the SRS deal would boost its total addressable market by about $50bn to $1tn....
...The average 30-year mortgage rate fell to 6.83 per cent last week, below 7 per cent for the first time since July, the Mortgage Bankers Association of America said on Wednesday....
...With about three-quarters of homeowners paying 4 per cent or less on their mortgages, they are “trapped” in their current homes because a new mortgage means paying more than 7 per cent....
...US property prices: The Case-Shiller index’s 20-city composite is expected to show home prices rose 6.7 per cent annually in January, up from 6.1 per cent in December, signalling that easing mortgage rates...
...Sales of higher-margin discretionary items like home decor were down 12 per cent....
...negotiating directly with merchants, we have reached a settlement with meaningful concessions that address true pain points small businesses have identified,” said Kim Lawrence, president of Visa North America...
...Even the inventory of new homes dipped a bit in 2023, as high mortgage rates put a damper on Americans’ desire to finance anything....
...Chief executives contemplating rising rates appear to have cycled through the stages of grief from fear to acceptance....
...The Brooklyn housing market was cooled last year by high mortgage rates....
...Already, there has been an uptick in new mortgage applications and pending home sales....
...Fink attributed the US’s faster recovery from the financial crisis relative to Europe to America’s lower dependence on the traditional banking sector....
...“We have seen demand for new homes start to dry up.”...
...Since 1975, the Home Mortgage Disclosure Act has required banks to report mortgage lending by race and ethnicity, and the Consumer Financial Protection Bureau recently issued a rule that requires lenders...
...In plain English: working from home has hurt. At first glance, that looks scary; 40 per cent is a big number. But in reality investors should celebrate....
...A version of this article was first published by Nikkei Asia on April 2 2024. ©2024 Nikkei Inc. All rights reserved....
...KB Home: The homebuilder will report its latest quarterly results, which are expected to show a drop in revenue and profits compared to a year ago, as high mortgage rates have strained the US housing market...
...Basically, I defined what was wrong with mortgage markets. These “modified mortgages” entailed you buying the home, borrowing the money and paying 1 per cent on the mortgage for three years....
...A total of $117bn in commercial mortgages tied to US offices will come due this year, according to the Mortgage Bankers Association....
...The existing-home market is being squeezed by high mortgage rates, but the effects have been offset by the surge in new home sales, up nearly 20 per cent this year....
...By 1998, the tower was so successful that Trump could take a $125mn mortgage against it, providing a huge windfall — and ego boost....
...A provincial mad-eyed Rasputin-type, he soon has Elena under his thrall and moves from home maintenance to directly influencing domestic policy and foreign affairs....
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