New construction makes its way especially into certain U.S. cities, while borrowers purchasing more new housing stock
The median age of U.S. homes is now 45 years — think of a house built in 1980 — which is four years newer than the median home age a decade ago. Look closer, though, and you’ll find very different stories across particular states' and cities' markets. A new study from Pr...
Falling percentage of mortgage companies reporting a pre-tax net financial profit
Independent mortgage banks (IMBs) and the mortgage divisions of chartered banks reported an average pre-tax net loss of $40 per loan in the fourth quarter of 2024, a sharp reversal from the $701 per-loan profit recorded in the previous quarter, according to new data from the...
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