Tag Archives: interest rates

Loan servicing giant Mr. Cooper lays off another 420 workers

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Investors warned of “break even” second quarter as rising mortgage rates put a bigger-than-expected dent in loan originations. Continue reading →

Lumber prices sawed in half in 2nd pandemic-era plunge

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The price of lumber has taken another dramatic downturn, just the latest wild swing for builders in the cost of home construction. Continue reading →

Market shifts, rate hikes and why real estate stocks can’t get a break

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As real estate enters what one observer called a “Wile E. Coyote” moment, real estate companies’ share prices continue to struggle amid market uncertainty. Continue reading →

Google searches for ‘housing bubble’ have been spiking since March

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Google Trends experienced a spike in searches for the term “housing bubble” earlier this spring, and it hasn’t fully returned to normal levels, hinting that the topic is at least on a lot of minds. Continue reading →

Construction starts dip as mortgage rates surged in April

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The slowdown in construction activity comes as the average for a 30-year loan rose to 5.3 percent last week, up from 2.49 percent a year ago, according to new data released by the US Census Bureau on Wednesday. Continue reading →

Builder confidence hits lowest level since June 2020

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A decline in consumer demand amid rising interest rates, increases in materials costs and home price growth led builder confidence to drop 8 points to 69 in May, according to the NAHB. Continue reading →

Blend Labs sees Q1 loss soar by 167% as rising rates curb refis

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Blend’s net loss for the quarter — up 167 percent from a year ago — came despite a 124 percent year-over-year increase in revenue, to $71.5 million, according to an earnings call on Thursday. Continue reading →

Why are proptech companies flailing on the stock market?

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At Inman CEO Connect on Tuesday, First American Chief Innovation Officer Paul Hurst broke down what’s going on with the stock market and why SPAC mergers are so popular. Continue reading →