Author: ALEX VEIGA AP business writer

LOS ANGELES — Real estate investors are snapping up a bigger share of U.S. homes on the market as rising prices and stubbornly high borrowing costs freeze out many other would-be homebuyers. Nearly 27% of all homes sold in the first three months of the year were bought by investors — the highest share in […]

The average rate on a 30-year U.S. mortgage fell to its lowest level since early May, an encouraging trend for prospective homebuyers at a time when the U.S. housing market remains largely held back by elevated borrowing costs and rising prices MCCLEAN, Va. — The average rate on a 30-year U.S. mortgage fell to its […]

NEW YORK — Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase. Existing home sales rose 0.8% last month from April to a seasonally adjusted annual rate of 4.03 million […]

The billionaire slated to take over the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence. Mark Walter is CEO of the global investment and advisory company Guggenheim Partners, which is estimated to have more than $325 billion in assets. He’s also […]

MCCLEAN, Va. — The average rate on a 30-year U.S. mortgage eased for the third week in a row, a welcome trend for prospective homebuyers at a time when elevated borrowing costs remain a drag on the housing market. The long-term rate fell to 6.81% from 6.84% last week, mortgage buyer Freddie Mac said Wednesday. […]

The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers. The rate increased to 6.89% from 6.86% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.03%. Borrowing costs on 15-year fixed-rate mortgages, […]

The average rate on a 30-year mortgage in the U.S. climbed this week to its highest level since mid-February, a setback for home shoppers that threatens to slow sales further this spring homebuying season. The rate increased to 6.86% from 6.81% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged […]

Sales of previously occupied U.S. homes fell in April, as elevated mortgage rates and rising prices discouraged prospective homebuyers during what’s traditionally the busiest time of the year for the housing market. Existing home sales dropped 0.5% last month, from March, to a seasonally adjusted annual rate of 4 million units, the National Association of […]

LOS ANGELES — U.S. homeowners are spending more on home renovation projects, bucking a broader pullback by consumers amid diminished confidence in the economy. Sales at building materials and garden supply retailers rose 0.8% last month from March, the biggest gain since 2022, and were up 3.2% from April last year. At the same time, […]

The average rate on a 30-year mortgage in the U.S. rose above 6.8% this week, returning to where it was just three weeks ago. The rate increased to 6.81% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.02%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners […]