Last month’s turnaround from a weak November is the largest monthly increase ever recorded, the NAR says. Sales are now 7.7 percent above a year ago.
The weakness in the stock market, which has led to a flight to Treasuries over the past few days, has helped bring down the average rate on the 30-year fixed mortgage to 3.81 percent
The program’s Leading Indicator of Remodeling Activity (LIRA) projects annual spending growth for home improvements will accelerate from 4.3 percent in the first quarter of 2016 to 7.6 percent in the third quarter.
That much-studied and targeted group of Americans known as Millennials, born between the early 1980s and mid-1990s, are big users of Alternative Financial Services (AFS).
It didn’t take long for the Federal Reserve’s short-term interest rate hike of a quarter of a percent to have an impact on the wallets of many U.S. consumers.
Retail brokerage giant Fidelity Investments said today it has partnered with U.S. Bank and Visa in a program that will offer Visa-branded credit cards to U.S. consumers, including Fidelity’s 24 million customers.
The Federal Reserve’s first interest-rate hike in nine years is already fueling higher home-loan costs as the housing market struggles with tight supplies and prices too high for many first-time buyers.
Sales of existing homes, or resales, dropped sharply in November to the slowest pace in 19 months, with some of the blame going to longer home-closing timeframes.
The average time to close a mortgage loan increased by 3 days to 49 total days in November, the longest time to close since February of 2013.
The CFPB said its investigation found that the companies inaccurately reported information for more than 84,000 accounts on a “widespread and systemic basis.”