Mortgage rates, inventory and demand rise as price cuts fall

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. Traditionally at this time of year purchase apps rise and the number of price cuts fall. However, at the current trend, we will break below the lows in the price cut percentage data
Read MoreMBA, NHC laud lawmakers for unveiling bipartisan tax agreement

Just ahead of a deadline to avert a partial U.S. government shutdown, lawmakers in the U.S. House of Representatives and the U.S. Senate unveiled the “Tax Relief for American Families and Workers Act of 2024.” The proposal would increase the Low-Income Housing Tax Credit, which housing groups say co
Read MoreCountry Club Mortgage to lay off employees, including CEO, and shutter offices

Country Club Mortgage, a home lender based in California, has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. “This letter serves to give you an amended 60-day notice of permanent layoffs and facility closures effective Feb. 6, 2024,” Sherry
Read MoreCurrent housing inventory insufficient for aging needs, report says

Despite a documented preference that older Americans have to age in place, the current housing inventory is inadequate to support the needs of an aging population. This is according to a report from MarketWatch in collaboration with Columbia University’s Age Boom Academy. Homes in which people raise
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