Tag Archives: mortgage banking and finance

[ad_1] New York CNN  —  Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The scandal-ridden bank announced a significant shift on Tuesday to focus its mortgage business on serving bank customers and minority homebuyers instead of acquiring new customers. Wells …

[ad_1] Washington, DC CNN  —  Mortgage rates inched up again last week, after a slight increase the week before interrupted six straight weeks of falling rates. The 30-year fixed-rate mortgage averaged 6.48% in the week ending January 5, up from 6.42% the week before, according to Freddie Mac. A year …

[ad_1] Washington, DC CNN  —  It is almost as if the wild turns in the Manhattan real estate market during the pandemic didn’t happen. Almost. The frenzy to buy apartments in Manhattan took off in 2021 as the city bounced back from the worst of the pandemic. But it nosedived …

[ad_1] London CNN  —  In May 2017, Sophie Bichener did what many in their twenties are unable to do: buy a home. She paid around £230,000 (around $295,000 at the time) for her two-bedroom apartment in a high-rise building in a town north of London, where a train could get …

[ad_1] A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN  —  Weaker-than-expected retail sales in November pummeled market sentiment …

[ad_1] If you bought your first home during the past year, consider yourself one of the fortunate few. Skyrocketing home prices and climbing interest rates pushed the share of first-time homebuyers to an all-time low, according to a new report from the National Association of Realtors. And those first-time buyers …

[ad_1] A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  —  The global bond market is having a …

[ad_1] New home sales bounced back in August despite high prices and rising mortgage rates that have pushed some buyers away. Sales of newly constructed homes jumped 28.8% in August from July and were down just 0.1% from a year ago, according to a joint report from the US Department …