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November 24, 2020

Real Estate

A record 19.4 million homeowners can now save big on a mortgage refinance, as rates hit another new low

CNBC Real Estate
Jb Reed | Bloomberg | Getty Images The average interest rate on the popular 30-year fixed mortgage has set a record low 13 times so far this year. It did it again last week. That has given current homeowners unprecedented potential to save on their monthly payments through a refinance.......

Home prices see biggest spike in 6 years in September, according to S&P Case Shiller

CNBC Real Estate
People walk into a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020. Wang Ying | Xinhua News Agency | Getty Images Strong, Covid-induced demand from homebuyers over the summer caused an exceptionally strong spike in home prices. Values jumped 7% annually, in September, up......

Former subprime player claims he can now short the mortgage market for climate and Covid risks

CNBC Real Estate
During the mortgage bubble in the early 2000s, when investors were feverishly trading faulty subprime bonds, a few savvy skeptics recognized the bonds were doomed, so they bet against them. They shorted the bonds and made billions. Now one of those players is doing the same thing, but not on subprime.......

Trump International Hotel Washington DC sale put on indefinite hold

CNBC Real Estate
The Trump International Hotel in Washington, D.C. Adam Jeffery | CNBC The Trump Organization’s efforts to sell the Trump International Hotel Washington DC have been put on indefinite hold, casting doubts on the future of one of the President’s biggest financial bets, according to industry executives. The Trump Organization hired......

12 million Americans set to lose unemployment benefits by year’s end

CNBC Real Estate
Volunteers distribute food to the needy in Orlando, Fla. Paul Hennessy/NurPhoto via Getty Images About 12 million Americans will lose unemployment benefits in December when CARES Act provisions lapse, absent an extension, according to a new analysis. Unemployment benefits will terminate for more than half of current recipients at the......

October existing home sales see ‘spectacular’ 26.6% annual gain even with short supply and surging prices

CNBC Real Estate
Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually to a seasonally adjusted annualized rate of 6.85 million units, according to the National Association of Realtors. The NAR’s chief economist, Lawrence Yun, called the annual increase “a spectacular gain.” The annualized......

Mortgage demand from homebuyers surges after election pause

CNBC Real Estate
A potential home buyer reviews paperwork during an open house in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images November is not historically a strong season for homebuying, but this one, like the rest of 2020, isn’t following any rules. Homebuyer demand is surging again, after taking a slight......

$160 million mansion will be the most expensive ever auctioned

CNBC Real Estate
Exterior view of Villa Firenze in Beverly Hills, California Concierge Auctions A $160 million mansion in Beverly Hills, California, is headed to the auction block, making it the most expensive listing ever to auction. The nine-acre estate, called Villa Firenze, will be sold to the highest bidder, with no reserve,......

Homebuilder confidence in November shatters record high, as buyers keep fleeing for the suburbs

CNBC Real Estate
A contractor carries wood studs while building a home in Park City, Utah, U.S., on Friday, Aug. 14, 2020. George Frey | Bloomberg | Getty Images The nation’s homebuilders have never been this happy. In November, builder confidence in the construction market for single-family homes soared to its third record......

Op-ed: Don’t let inflation destroy those retirement plans

CNBC Real Estate
XiFotos | E+ | Getty Images You’ve been working for a long time, and now you have started looking forward to retirement. It takes a lot of planning, and you may or may not feel you’ve done enough to enjoy a comfortable, worry-free life after work. As you consider the......

Housing stocks look sound, but trader warns of weaknesses starting to form

CNBC Real Estate
Housing stocks are standing on shaky ground. That’s according to Matt Maley, equity strategist at Miller Tabak, who says that while the group looks great fundamentally, some weaknesses are beginning to form. “I’ve been bullish on this group for two years now,” Maley told CNBC’s “Trading Nation” on Wednesday. “But......

Big drop in Manhattan apartment prices begins to lure back younger renters

CNBC Real Estate
Sign advertising apartments for rent in the Upper East Side in New York City. Adam Jeffery | CNBC Manhattan real estate may be turning the corner, as new rentals increased for the first time in over a year and sales activity started to creep higher after the Covid collapse. A......

Rocket Companies CEO: Tech investments drove record loan volume in Q3

CNBC Real Estate
Rocket Companies CEO: Tech investments drove record loan volume in Q3 Search quotes, news & videos CNBC – For more and to sign up click here...

You don’t have to own houses to profit from real estate. Here’s how wealth advisor Josh Brown invests in different properties

CNBC Real Estate
Real estate market 2020: How Josh Brown invests in properties Search quotes, news & videos CNBC – For more and to sign up click here...

Mortgage demand from homebuyers drops to lowest level in 6 months

CNBC Real Estate
An “Open House” sign is displayed in the front yard of a home for sale in Columbus, Ohio. Ty Wright | Bloomberg via Getty Images Another record low interest rate on the 30-year fixed mortgage last week did not help drag homebuyers out of their recent slump. Declining demand from......

Rental fraud warnings jump 30% due to coronavirus pandemic

CNBC Real Estate
Sign advertising apartments for rent in the Upper East Side in New York City. Adam Jeffery | CNBC A sharp increase in the use of online rental applications since the start of the coronavirus pandemic has caused a consequent jump in red flags for fraud. The percentage of so-called fraud......

SoftBank is reportedly considering moving its Vision Fund from London to Abu Dhabi

CNBC
CNBC – For more and to sign up click here Rajeev Misra, CEO of the SoftBank Investment Advisers. SoftBank LONDON — SoftBank is considering moving its colossal Vision Fund from London to Abu Dhabi, according to a report from The Financial Times Tuesday, citing anonymous sources familiar with the matter.......

Housing stocks see split reaction on coronavirus vaccine news, as mortgage rates jump

CNBC Real Estate
Rick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the driveway as a couple waits to enter a property he is trying to sell during a “controlled” open house on May 2, 2020 in Revere, MA. Blake Nissen | Boston Globe | Getty Images Homebuilder......

America’s iconic retailers fight for survival as pandemic rages on

CNBC
CNBC – For more and to sign up click here America’s iconic retailers fight for survival as pandemic rages on Search quotes, news & videos Source – Click here for more To Return to the Main Aggregate News Page – click here...

Zillow shares jump after online real estate company blows past estimates and provides optimistic forecast

CNBC Real Estate
Richard ‘Rich’ Barton, co-founder and CEO of Zillow Inc. Andrew Harrer | Bloomberg | Getty Images Zillow shares climbed more than 8% in extended trading on Thursday after the digital real estate company reported third-quarter estimates that blew past analysts estimates and offered a better-than-expected forecast for the fourth quarter.......

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