Real Estate

Mortgage rate decline juices refinances

The Mortgage Bankers Association's refinance index for the week ending June 11 jumped 6% from the previous week, but is still down 22% compared to the same week a year ago. The refinance share of mortgage activity increased to 61.7% of total applications, compared to 60.4% the previous week.

US housing market needs 5.5 million more units: report

Construction of new housing in the past 20 years fell 5.5 million units short of long-term historical levels, according to a new National Association of Realtors report, which is calling for a “once-in-a-generation” policy response.

Demand for vacation homes is wearing off. Here's why

Although the number of buyers who locked in mortgage rates to purchase a second home increased nearly 50% compared to a year ago, "it's the first time in a year the annual growth rate has fallen below 80%," according to a new report by Redfin.