World News
Home Flipping Transactions Down in 2023, Profits Up
84,350 single-family homes and condominiums in the United States were flipped in the second quarter of 2023. Those transactions represented 8 percent, or one of every 13 home sales, during the months running from April through June of 2023.
U.S. Listings Inventory Rises 4 Percent in August
Based on Zillow's latest housing market report, there was an uptick of new U.S. residential listings in August 2023. Although sellers are still listing fewer houses than pre-pandemic norms, the monthly increase gave buyers a bit of relief in the midst of a long-standing drought of inventory.
The Fed Leaves Rates Alone for Now in September
This week the Federal Reserve left short-term interest rates alone, but signaled more hikes could be on the horizon in late 2023.
Commercial Mortgage Debt Outstanding in U.S. Jumps to $4.60 Trillion in Mid 2023
According to the Mortgage Bankers Association's latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report, the level of U.S. commercial and multifamily mortgage debt outstanding increased by $37.7 billion (0.8 percent) in the second quarter of 2023.
Mortgage Applications Uptick in U.S. Amid High Rates
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending September 15, 2023, U.S. mortgage applications increased 5.4 percent from one week earlier. Last week's results included an adjustment for the Labor Day holiday.
