The Mortgage Bankers Association said they tumbled 10.5% last week, the biggest fall-off in four months. While the foreclosure crisis may be playing a role in the decline, rising interest rates are also partly to blame.
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The unexpected increase of 0.3% to a 610,000 annual rate provides additional evidence that homebuilding may be bottoming. However, economists caution that it’s still too early to declare any kind of solid turnaround.
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Home builder confidence unexpectedly rose in October, the National Association of Home Builders said Monday. What’s more, while the housing sector still faces many hurdles — including the U.S. economy’s health — the group add…
U.S. new-homes sales were unchanged in August, clocking in at a 288,000-unit annual rate — the second lowest level since 1963. Overall, new home sales flat-lined this summer after the home buyer tax credit ended, but there was…
Housing starts rose 10.5% in August to a seasonally adjusted annual rate of 598,000, providing hope that the sector is stabilizing. However, economists caution that monthly data have a large margin of error.
Co…