Higher mortgage rates don’t appear to have slowed the pace of Colorado Springs-area home construction, though some builders say the impact — if any — still might be a few weeks or months away. The Pikes Peak Regional Building Department issued 355 permits to builders and individuals in May for the construction […]
Rates
Homebuilders stay busy as supply woes ease, interest rates rise
File photo As climbing prices and increased interest rates continue to push home ownership out of reach for many families, the numbers are out on how much new home construction costs in each state. The cost to build a home in California is exceeded by only two other states — Alaska […]
Decision to increase lending rates comes years too late
You’ve probably heard the lament that a farmer has locked the barn door after the horse has already left the barn. That’s how the affordable housing community looks at the Federal Reserve’s decision to finally increase lending rates. The Fed should have done this years ago. Suppressing interest rates contributed […]
Homebuilders say higher mortgage rates are already affecting demand
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The Texas Squeeze: A series examining the high cost of high growth in North Texas. Homebuilders in Dallas-Fort Worth and across the country are feeling the effects of this year’s significantly higher home costs on demand for their communities. Builder confidence in the market for newly built U.S. single-family homes […]
Home Builders Can’t Keep Up. The Paradox of Soaring Home Prices and Mortgage Rates.
Housing remains in short supply despite mounting prices. Photovs/Dreamstime Text size The surge in mortgage interest rates is hitting house buyers much harder than home builders. For the latter, it’s brought the demand for homes closer in line with their supply but doesn’t seem to threaten a downturn in their […]
U.S. homebuilder sentiment drops to seven-month low amid surging mortgage rates
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Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. REUTERS/Mike Blake/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, April 18 (Reuters) – Confidence among U.S. single-family homebuilders fell to a seven-month low […]
New-home construction improves despite high inflation, rising mortgage rates, and the shortage of skilled labor and materials
The numbers: U.S. home builders started construction on homes at a seasonally-adjusted annual rate of roughly 1.79 million in March, representing a 0.3% increase from the upwardly-revised figures for the previous month, the U.S. Census Bureau reported Tuesday. Compared with March 2021, housing starts were up nearly 4%. Permitting for […]
‘The housing market faces an inflection point’: Home-builder confidence declines as interest rates rise
The numbers: The National Association of Home Builders’ monthly confidence index once again fell two points from the previous month to a reading of 77 in April, the trade group said Monday. The index remains at the lowest level since September. Nevertheless, index readings above 50 indicate that more builders believe that conditions […]
Vacation Home Buyer Demand Decreases as Mortgage Rates Rise
Many companies featured on Money advertise with us. Opinions are our own, but compensation and in-depth research determine where and how companies may appear. Learn more about how we make money. Americans’ voracious demand for vacation homes is finally slowing down as mortgage rates climb higher and higher. A new […]