CEOs warn tough recession coming, home sales lower and more: Tuesday's 5 things to know
Traders will be cautious after 91% of CEOs surveyed by KPMG said they think there will be a recession in the next 12 months, as they look at potentially reducing their workforce.
Mortgage rates surge as market reacts to economic uncertainty
Mortgage rates surged again, averaging more than double what they were last year, Freddie Mac said.
Most homeowners find renovations worth it despite the expense, study says
A new study by House Method said that the majority of U.S. homeowners who have undertaken a home renovation found the time and money they spent on the projects to be worth it.
Million Dollar Listing's Josh Flagg: purchase homes before interest rates move higher
According to Redfin, luxury home sales fell 28.1% year over year during the three months ending Aug. 31, 2022, the biggest decline on record since at least 2012.
Chevron sells global headquarters, pares back in California amid Texas expansion
Chevron sold its current headquarters in California and to move into a nearby leased space about one-third of the size, as it relocate employees to Texas.
Homebuyers face the 'most volatile' mortgage rates as Fed fights inflation
Mortgage rates, which have recently surged to their highest level since 2008, are also fluctuating more than they have in nearly 30 decades, according to Redfin.
Fears of recession may bring relief to buyers, experts say
Recession fears are pushing U.S. homebuyers out of the housing market, but some experts say this is good news for those who are willing to stick it out.
Pending home sales tumble 24% in August, falling for third straight month
Sales of previously owned homes tumbled in August as home ownership became increasingly unaffordable for many prospective buyers thanks to higher mortgage rates.
Mitch Roschelle: This will be the 'breaking point' for homebuyers
Macro Trends Advisors founding partner Mitch Roschelle says the 'destruction' of the bond market will price out potential homebuyers.
'Scary' mortgage rates, sticker shock forcing homebuyers to walk away from contracts, broker says
The Corcoran Group president and CEO Pamela Liebman argues "scary" mortgage rates are making sellers "more desperate" to get deals done and offer contract contingencies.
Pamela Liebman: ‘Scary’ mortgage rates forcing homebuyers to ‘walk away’ from contracts
The Corcoran Group president and CEO Pamela Liebman argues homebuyers wouldn’t ‘typically’ have the ability to back out of a contract when the market’s ‘on fire.’
Real estate market facing ‘double whammy’ with expensive prices, mortgages: Pamela Liebman
The Corcoran Group president and CEO Pamela Liebman says ‘something’s got to give’ in the current housing market.
Mortgage rates double vs. year ago, refinancings hit 22-year low: survey
Data gathered by the Mortgage Bankers Association's Weekly Mortgage Applications Survey show loan and refinance applications are plunging while mortgage rates soar.
US new home sales unexpectedly surge in August
New single-family home purchases surged nearly 29% in August from the previous year, jumping more than expected as homebuyers tried to lock in lower mortgage rates.
Stephanie Schmidt has never seen new construction 'challenge quite like what we have right now'
Poole Anderson Construction president Stephanie Schmidt says the construction industry continues to face increase costs, supply chain delays and labor shortages.
Chinese company aims to sell 3 US resorts for $1.3 billion
A Chinese company, Dajia Insurance, is seeking to cash out these holdings for $1.3 billion during a powerful surge in leisure travel and resort business.
Rent on the rise: US markets where prices rose fastest in August
The national median asking rent climbed to a record high in August, up 11% compared with a year ago. However, some renters are seeing surges that are more than double that.
Mortgage rates climb higher, triggering home price drops
Freddie Mac's chief economist said that higher mortgage rates are starting to impact home prices, but housing supply remains below normal.
Americans moving south for economic opportunity could be a ‘big issue’ in 2024: Dan Henninger
Wall Street Journal columnist Dan Henninger discusses the large populations of Americans that are moving to southern and western states in search of economic opportunity.
Housing market 'extremely structurally sound': Jeff Taylor
Mphasis Digital Risk founder Jeff Taylor discussed on 'Mornings with Maria' the housing market, mortgage rates, and inflation's impact.