News
Self-storage demand falls as migration slows and supply increases
6+ hour, 13+ min ago (565+ words) The self-storage sector is experiencing excess supply and flagging demand as U. S. migration slows and home sales fall, according to a report from Yardi Matrix. Advertised rates in May declined nationally by an average of 1. 8% year over year for both climate-controlled…...
Office vacancy rates fall in May, but the chances of sustained improvement are low
1+ day, 7+ min ago (383+ words) The U. S. office vacancy rate declined to 17. 6% in May from 19. 4% one year ago, according to the most recent Yardi Matrix national office report. While the vacancy rate appears to be in decline, the general office sector may not be improving in…...
Homebuyer affordability takes a hit in May
1+ day, 4+ hour ago (269+ words) Homebuying became less affordable in May, as rising mortgage rates and accelerating loan amounts caused the Mortgage Bankers Association's Purchase Applications Payment Index (PAPI) to increase 2. 2%. The MBA's index, which tracks monthly mortgage payments relative to borrower income, climbed to…...
Mortgage lenders gain leverage with home builders under pressure
1+ day, 4+ hour ago (1106+ words) Things look bad for home builders right now, industry experts and economists agree. New-home sales plunged in May after a sharp slowdown in April, and builder margins are being squeezed from all directions. "It's been a while that builders have…...
Mortgage rates still stuck in the mid-6s a week into Feds Warsh era
1+ day, 8+ hour ago (282+ words) Mortgage rates ticked up this week but remained range-bound, with the 30-year fixed rate rising two basis points to 6. 49%, Freddie Mac reported Thursday. The mortgage giant's weekly rate survey saw the 15-year rate climb three basis points to 5. 84% during the…...
PCE inflation shatters 4% threshold in May
1+ day, 10+ hour ago (473+ words) The Federal Reserve's preferred inflation gauge ratcheted higher in May as energy and trade shocks from the Iran war, Trump administration tariff polices, massive AI spending and widening federal deficits continue to push consumer prices higher. Posting 4. 1% growth from a…...
Experts fear accelerating slowdown as new-home sales plunge in May
2+ day, 2+ hour ago (37+ words) Scotsman Guide Experts fear accelerating slowdown as new-home sales plunge in May Scotsman Guide PRO membership Get unlimited access today for less than $25/month....
Office-to-residential conversions gain traction
1+ week, 1+ day ago (480+ words) Chicago's Millinery Mart Building is about to reinvent itself once again. According to the Chicago Sun-Times, the nearly 100-year-old Wacker Place high-rise, which started out as a center for hat manufacturing and later became an office for Esquire magazine, is…...
Lawmakers, housing groups pitch Basel III changes as comment period ends
1+ week, 1+ day ago (604+ words) A 90-day public comment period ends Thursday for a proposal to revise parts of the existing Basel III framework that would, among other things, eliminate the threshold-based deduction for mortgage servicing assets across all banking organizations. The proposal, jointly put…...
High rates, uncertainty stall new-home mortgage demand
1+ week, 1+ day ago (362+ words) Mortgage demand for newly built homes declined in May though remained above year-ago levels, the Mortgage Bankers Association (MBA) said Thursday. Application volumes for new-home mortgages have been choppy this spring as affordability pressures have constrained homebuying demand. Mortgage rates…...