Sunday, 09 August, 2020

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Category: CNBC Real Estate

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Ahead of his firm’s NYSE debut Thursday, Dan Gilbert told CNBC that Rocket Companies may make acquisitions to further leverage its mortgage-lending technology.  “We want to use our stock as currency and potentially acquire more fintech organizations and put them in the mold,” said Gilbert, chairman of Rocket Companies, which he founded in 1985.  Rocket Companies closed up 19.5% Thursday to Read more…


A pool under construction in Washington, DC. Pat Pugliese | CNBC There is a lot of activity in Justin Sullivan’s backyard, as workers hammer out his new deck, and jackhammers pound through the basement. Concrete for the new pool has already been poured. The Sullivans had planned a renovation before the pandemic hit, but then suddenly it became a much Read more…


A for sale sign is seen next to a house in Arlington, Virginia on May 6, 2020. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates fell to another record low this week, the eighth record set this year. But home affordability is weakening as the housing shortage, high demand from buyers and rising home prices negate the benefits of Read more…


A for sale sign is seen next to a house in Arlington, Virginia on May 6, 2020. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates fell to another record low this week, the eighth record set this year. But home affordability is weakening as the housing shortage, high demand from buyers and rising home prices negate the benefits of Read more…


A for sale sign is seen next to a house in Arlington, Virginia on May 6, 2020. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates fell to another record low this week, the eighth record set this year. But home affordability is weakening as the housing shortage, high demand from buyers and rising home prices negate the benefits of Read more…


Record low mortgage rates are clearly not as impressive as they used to be. Even with another new low set last week, mortgage application volume decreased 5.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand is still considerably higher for refinances and purchase applications than it was a year ago. The average contract interest Read more…


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The first read on home prices in June is proving just how resilient the housing market has been in the face of an ongoing economic disaster. Strong demand for housing, much of it pushed by the coronavirus pandemic itself, is driving prices higher faster, but forecasters say that may not last. Nationally, home prices increased by 4.9% annually in June, Read more…


Couple buying a new house. PeopleImages | Getty Images A Roth individual retirement account is often cited as a way to save for your golden years. It could  also help you buy a house. In a nutshell, up to $10,000 in earnings can be withdrawn from such an account — free of both taxes and penalty — for a home Read more…


The U.S. economy will face great risk if lawmakers do not step up and stave off a looming, far-reaching eviction crisis, an economist with mortgage aggregator LendingTree told CNBC on Friday. With eviction moratoriums lifting across the country, landlords could eventually default on mortgages and the coronavirus pandemic could worsen in the country if tens of millions of renters are Read more…


© 2020 CNBC LLC. All Rights Reserved. A Division of NBCUniversal Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Market Data Terms of Use and Disclaimers Data also provided by


Some borrowers benefit Although the federal funds rate, which is what banks charge one another for short-term borrowing, is not the rate that consumers pay, the Fed’s moves still affect the borrowing and saving rates they see every day. For example, the average 30-year fixed rate home mortgage  is now at a record low  3.33%, according to Bankrate. (The economy, the Fed and inflation all Read more…


A sale pending sign is posted in front of a home for sale in San Anselmo, California. Justin Sullivan | Getty Images Pending home sales continued to climb in June, rising 16.6% monthly since May, and increasing 6.3% since June 2019, according to the National Association of Realtors. This beats the expectation for the monthly gain, which was a rise Read more…


Real estate agents leave a home for sale during a broker open house in San Francisco, California. Justin Sullivan | Getty Images Home prices continued to rise in May, albeit at a slightly slower pace than they did in April — likely due to the brief but sharp slowdown in home sales as the coronavirus pandemic hammered the nation. Nationally, Read more…


© 2020 CNBC LLC. All Rights Reserved. A Division of NBCUniversal Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Market Data Terms of Use and Disclaimers Data also provided by