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☆ With more than $1 billion in deals in the works, Wall Street is poised to get back into the home buying game
▼ + stars: | 2023-06-21 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Wall Street landlords raised $110 billion to buy homes but have had a quiet year. One large transaction, and one large listing, could signal that investors are ready to start buying. The single-family rental market, a popular playground of Wall Street landlords in 2020 and 2021, has been in a deep-freeze for the last year. Rising borrowing costs and a shakier housing market halted most transactions, leaving idle much of the $110 billion raised to buy homes. The company, which was valued at nearly $2 billion last year, says it has facilitated more than $5 billion in deals.

Persons: dealmaking, Goldman Sachs, Don Mullen, DR, Barry Sternlicht's, redemptions, Gary Beasley, Roofstock, Allison Arest, Topping, Beasley, Morgan Stanley's, Ellen Zentner, Jay Powell, LeMaistre, everybody's Organizations: Bloomberg, Barry Sternlicht's Starwood Group, Fed Locations: Beach

The 30-year rates have dipped slightly since last week, while 15-year mortgage rates have gone up a bit. A competitive market can keep mortgage rates high and homes expensive. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control.

Persons: Freddie Mac, Prices, Fannie Mae, they'll Organizations: Zillow, Federal Reserve, Fed, Mortgage, Association, Sky, ARM Locations: Chevron

☆ Morgan Stanley's chief US economist now says home prices are likely to drop only 2% in 2023. Here's why she thinks the housing downturn is virtually over.
▼ + stars: | 2023-06-17 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Morgan Stanley's Ellen Zentner says housing activity has bottomed. After a huge drop off in activity, demand is starting to stabilize. Yardeni ResearchThe pickup in activity has likely been due to housing affordability stabilizing. Zentner's view that the housing market is stabilizing is a big contributing factor to her call for a soft-landing scenario, where the US economy avoids a recession. But nevertheless, housing activity has bottomed, and that's probably the most important pillar to a soft-landing."

Persons: Morgan, Ellen Zentner, Morgan Stanley's Ellen Zentner, Zentner, that's, Goldman Sachs, Jonathan Woloshin, Suisse's Ray Farris, Ian Shepherdson, undershoots, David Rosenberg Organizations: National Association of, National Association of Homebuilders, UBS Wealth Management, Rosenberg Locations: Zentner

☆ People are impersonating homeowners to take out mortgages and steal the money. Here are the best ways to stop it happening to you.
▼ + stars: | 2023-06-14 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +6 min

Three industry professionals told Insider that incidents like this also happen in the US, and that homeowners should be taking steps to avoid it happening to them. The frequency of this specific type of fraud is hard to quantify, with most data tending to focus on the prevalence of mortgage fraud as a whole. Industry professionals told Insider in March that real-estate fraud as a whole has surged in the past year. Even in cases where the defrauded individuals successfully contest the loan, Berg said it can still be "costly and, of course, upsetting." The experts agreed that another way to stay safe is by purchasing insurance, such as an owner's title policy.

Persons: —, Jay Allen Macdougall, Macdougall, Josh Migdal, Migdal, Hayden, Arthur Pfizenmayer, Pfizenmayer, Bridget Berg, Berg Organizations: Service, Toronto, FBI, Federal Trade Commission, Industry, United States Sentencing Commission Locations: Canada, Pfizenmeyer, CoreLogic

The average 30-year mortgage rate is 6.71%, according to Freddie Mac — this time last year, it was 5.23%. A competitive market can keep mortgage rates high and homes expensive. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control.

Persons: Freddie Mac, Prices, Fannie Mae, they'll Organizations: Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron

☆ 51 US cities expected to see the highest home-price increases and 5 at risk of falling in the next 12 months — plus where mortgage rates could be by year-end — according to a housing economist
▼ + stars: | 2023-06-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

The economist Selma Hepp says home prices in some areas are rising because of limited inventory. The US housing market started off on a solid footing this year as home prices rose. In April, prices for single-family homes rose by 2% year-over-year and 1.2% from the previous month, according to CoreLogic's Home Price Index. Below is a list of 51 metropolitan areas expected to see the most home-price increases in the next 12 months, from the highest to the lowest. The CoreLogic HPIFinally, while mortgage rates can be difficult to predict, Hepp said that we had likely peaked for the year.

Persons: Selma Hepp, it's, Hepp, CoreLogic's, Louis, CoreLogic Organizations: Irvine CA Metropolitan, Everett WA Metropolitan Division, Arcade, Statistical, Oakland, Berkeley CA Metropolitan, Metropolitan Statistical, Riverside, Jacksonville FL, Vegas, Paradise, Clearwater FL, Newark, Sanford FL, Angeles, Glendale CA Metropolitan, Palm Beach, Boca Raton, Delray Beach FL, Cambridge, Suffolk County NY Metropolitan, Towson, Metropolitan, Fort Lauderdale, Boston, Scottsdale, Scottsdale AZ Metropolitan Statistical, Miami, Kendall FL Metropolitan, Alexandria DC, Bloomington, Franklin TN Metropolitan, Virginia, Newport News, Livonia MI, Gastonia NC, SC Metropolitan, West Allis WI Metropolitan, Philadelphia PA Metropolitan, Kansas City, KS Metropolitan, Providence, Richmond VA Metropolitan, Cincinnati, Pittsburgh PA, Oklahoma City, Cleveland, Elyria, NJ, Columbus OH, Houston, Indianapolis, Arlington TX Metropolitan, Dallas, Irving TX Metropolitan Locations: Anaheim , California, Seattle, Sacramento , California, West Coast, Metropolitan, Anaheim, Santa Ana, Irvine, Bellevue, Sacramento, Roseville, Hayward, Berkeley, Portland, Vancouver, Hillsboro, San Bernardino, Ontario, Diego, Carlsbad CA, Denver, Aurora, Lakewood, Henderson, Tampa, St, Petersburg, Clearwater, Newark NJ, Orlando, Kissimmee, Sanford, Long, Glendale CA, Palm, Delray Beach, Newton, Framingham, Nassau County, Suffolk, Baltimore, Columbia, Pompano Beach, Deerfield Beach FL, Mesa, Scottsdale AZ, Miami, Kendall, Montgomery County, Bucks County, Chester County, Washington, Arlington, Alexandria, Sandy Springs, Roswell, Minneapolis, Paul, WI, Murfreesboro, Virginia Beach, Norfolk, Detroit, Dearborn, Livonia, Charlotte, Concord, Gastonia, Milwaukee, Waukesha, Warwick, Chicago, Naperville, Arlington Heights IL, Troy, Farmington Hills MI, Antonio, New Braunfels TX, York, Jersey, White Plains, Carmel, Worth, Plano

☆ 51 US cities expected to see the highest home price increases and 5 at risk of falling in the next 12 months — plus where mortgage rates could be by year-end — according to a housing economist
▼ + stars: | 2023-06-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Areas that saw price declines during the pandemic are expected to make a comeback. Metropolitan areas including Anaheim, Seattle, and Sacramento top the list. In April, prices for single-family homes rose by 2% year-over-year and 1.2% from the previous month, according to CoreLogic's Home Price Index. Below is a list of 51 metropolitan areas expected to see the most home prices increase in the next 12 months, beginning from the highest to the lowest. The CoreLogic HPIFinally, while mortgage rates can be difficult to predict, Hepp believes we have likely peaked for the year.

Persons: Selma, it's, Selma Hepp, Hepp, Louis Organizations: CoreLogic, Irvine CA Metropolitan, Everett WA Metropolitan Division, Arcade, Statistical, Oakland, Berkeley CA Metropolitan, Metropolitan Statistical, Riverside, Jacksonville FL, Vegas, Paradise, Clearwater FL, Newark, Sanford FL, Angeles, Glendale CA Metropolitan, Palm Beach, Boca Raton, Delray Beach FL, Cambridge, Suffolk County NY Metropolitan, Towson, Metropolitan, Fort Lauderdale, Boston, Scottsdale, Scottsdale AZ Metropolitan Statistical, Miami, Kendall FL Metropolitan, Alexandria DC, Bloomington, Franklin TN Metropolitan, Virginia, Newport News, Livonia MI, Gastonia NC, SC Metropolitan, West Allis WI Metropolitan, Philadelphia PA Metropolitan, Kansas City, KS Metropolitan, Providence, Richmond VA Metropolitan, Cincinnati, Pittsburgh PA, Oklahoma City, Cleveland, Elyria, NJ, Columbus OH, Houston, Indianapolis, Arlington TX Metropolitan, Dallas, Irving TX Metropolitan Locations: Selma Hepp, Anaheim, Seattle, Sacramento, West Coast, Metropolitan, Santa Ana, Irvine, Bellevue, Roseville, Hayward, Berkeley, Portland, Vancouver, Hillsboro, San Bernardino, Ontario, Diego, Carlsbad CA, Denver, Aurora, Lakewood, Henderson, Tampa, St, Petersburg, Clearwater, Newark NJ, Orlando, Kissimmee, Sanford, Long, Glendale CA, Palm, Delray Beach, Newton, Framingham, Nassau County, Suffolk, Baltimore, Columbia, Pompano Beach, Deerfield Beach FL, Mesa, Scottsdale AZ, Miami, Kendall, Montgomery County, Bucks County, Chester County, Washington, Arlington, Alexandria, Sandy Springs, Roswell, Minneapolis, Paul, WI, Murfreesboro, Virginia Beach, Norfolk, Detroit, Dearborn, Livonia, Charlotte, Concord, Gastonia, Milwaukee, Waukesha, Warwick, Chicago, Naperville, Arlington Heights IL, Troy, Farmington Hills MI, Antonio, New Braunfels TX, York, Jersey, White Plains, Carmel, Worth, Plano

The average 30-year mortgage rate is 6.79%, according to Freddie Mac — this time last year, it was 5.09%. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. This means that mortgage rates aren't likely to increase significantly any time soon, and they'll likely continue to cool along with prices.

Persons: Freddie Mac, Prices, Fannie Mae, they'll Organizations: Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron

☆ Elon Musk is wrong about a housing-market crash
▼ + stars: | 2023-06-02 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

Selma Hepp, the chief economist at CoreLogic, said that's not going to happen. The nation's dearth of housing supply will keep home prices high and prevent a crash. On Monday, the billionaire — who has built a multi-million dollar portfolio of real estate properties — shared one of his most contentious opinions so far in 2023: "Commercial real estate is melting down fast. She said the housing naysayers are wrong and that the housing market is instead heading towards a recovery. Hepp attributes the real estate market's rebound to an imbalance of housing supply and demand that has heightened competition amongst borrowers.

Persons: Elon Musk, Selma Hepp, that's, —, Ray Farris, Ian Shepherdson, Freddie Mac, Hepp, CoreLogic, San Francisco — Organizations: Service, Privacy, SpaceX, Credit Suisse, San Locations: West Coast, Diego, Durham , Connecticut, Boston, New York City, Redfin

Average house prices as measured by the S&P CoreLogic Case-Shiller composite index of 20 metropolitan areas were forecast to stagnate next year. "Looking ahead, we think there is scope for prices to fall a little further. "Given supply is likely to stay tight, there is a risk house prices may not fall as much as we previously expected." The 30-year fixed mortgage rate, currently around 6.7%, was expected to average 6.2% in 2023. Those high mortgage rates are restricting housing supply, which puts upward pressure on prices, as well as demand.

Persons: Sam Hall, haven't, Sal Guatieri, Indradip Ghosh, Prerana Bhat, Aditi Verma, Maneesh Kumar, Jonathan Cable, Ross Finley, Sharon Singleton Organizations: stagnating, Reuters, U.S . Federal Reserve, Capital Economics, BMO Capital Markets, Thomson Locations: BENGALURU

High mortgage rates have created a lock-in effect for current homeowners who might otherwise be interested in listing their homes on the market. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices.

Persons: Prices, Selma Hepp, Fannie Mae, they'll Organizations: Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron

☆ Elon Musk said home prices will crater - and it prompted a sharp rebuttal from the CEO of housing giant Redfin
▼ + stars: | 2023-05-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Elon Musk said this week that home prices will tumble soon, following those of commercial real estate. Redfin's CEO responded, saying the loss of demand for commercial real estate is driving up demand for residential real estate. However, Redfin CEO Glenn Kelman countered his take in a tweet of his own on Tuesday:"But the loss in demand for commercial real estate is what's driving demand for residential real estate. The remote-work boom and waning need for office space has led to many vacant commercial real estate buildings, which Musk's initially referred to. Zillow has said that home prices have already bottomed, while Moody's and Fannie Mae still expect prices to drop further.

Persons: Elon Musk, Glenn Kelman, —, Billionaire Elon Musk, Musk's, Kelman, Zillow, Fannie Mae Organizations: Service, Privacy, Billionaire, Federal

☆ Australian home prices climb for third straight month in May
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Swati Pandey/File PhotoSYDNEY, June 1 (Reuters) - Australian home prices rose for the third consecutive month in May, with the pace of growth accelerating sharply as demand remained strong despite high mortgage rates, and the number of available homes nudged lower. Figures from property consultant CoreLogic released on Thursday showed national home prices surged 1.2% in May after rising in March and April, and finding a floor in February. The report showed the rise in prices was because of persistently low levels of available housing supply running up against rising housing demand. Advertised listings trended lower through May compared with April, with about 1,800 fewer homes listed in the state capital cities. ($1 = 1.4743 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Swati Pandey, CoreLogic, Tim Lawless, Sydney, Renju Jose, Jamie Freed Organizations: REUTERS, Brisbane, Perth, Thomson Locations: SydneyÕs, Chatswood, Australia's, Melbourne, Adelaide, Canberra, Sydney

☆ US home prices just jumped for the second-straight month, suggesting the housing downturn could be over. Here are the 6 cities where prices are rising the fastest.
▼ + stars: | 2023-05-31 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

In the 20-city version of the index, all 20 of the cities saw home prices rise month-over-month. "That said, the challenges posed by current mortgage rates and the continuing possibility of economic weakness are likely to remain a headwind for housing prices for at least the next several months." "A shortage of listings, plentiful jobs, and strong wage growth are largely offsetting the headwind to housing from high mortgage rates," Adams told Insider. Their reasons include high mortgage rates, historically low affordability, and a potential recession. Below, we've listed in descending order the six cities in the Case-Shiller 20-city index that posted month-over-month growth of at least 2%.

Persons: Craig J, Lazzara, Bill Adams, Adams, Suisse's Ray Farris, Rosenberg Research's David Rosenberg, Ian Shepherdson, American Enterprise Institute's Desmond Lachman, Skylar Olsen Organizations: Home, NSA, Redfin, Comerica Bank, American Enterprise Locations: Denver, Detroit, San Francisco, San Diego, Seattle, Minneapolis, West Coast, Miami , Florida, Tampa , Florida, Charlotte, North Carolina

☆ US consumer confidence dips to six-month low, labor market views soften
▼ + stars: | 2023-05-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index slipped to 102.3 this month, the lowest level since last November, from an upwardly revised 103.7 in April. The cutoff date for the survey, which places more emphasis on the labor market, was May 22. The survey's so-called labor market differential, derived from data on respondents' views on whether jobs are plentiful or hard to get, fell to 31.0, the lowest since April 2021, from 36.9 in April, suggesting the labor market was loosening up. More timely data like first-time applications for state unemployment benefits suggests the labor market remains tight, but is gradually easing. "Investors should expect Friday's job report to reveal emerging cracks in the labor market."

Persons: Christopher Rupkey, Joe Biden, Kevin McCarthy, Jeffrey Roach, Nicole Bachaud, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci, Paul Simao Organizations: Labor, Conference, Social Security, Medicare, Reuters, University of, Republican U.S . House, Sunday, U.S . Labor Department, LPL, Treasury, Federal Reserve, National Association of Realtors, Federal Housing Finance Agency, Thomson Locations: WASHINGTON, New York, North Carolina, U.S, Seattle

☆ House prices are declining in these 7 Western states while continuing to hit new heights across the rest of the country
▼ + stars: | 2023-05-30 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US house prices rose modestly in the first quarter, said the FHFA on Tuesday. The agency's House Price Index reached just under 400, hitting an all-time high with figures tracking back to 1991. "However, year over year prices in many western states have started to decline for the first time in over ten years." Over the last four quarters, house prices rose in 78 of the top 100 largest metropolitan areas, fronted by a 14% rise for the Miami area. The start of the spring selling season showed house price gains in March in a separate S&P CoreLogic report released Tuesday.

Persons: —, Fannie Mae, Freddie Mac, Anju Vajja, Black Knight, San, FHFA Organizations: Service, Federal Housing Finance Agency, FHFA's Research, Statistics, of Columbia, Pacific, Federal Reserve, Black, Nationwide Locations: . Utah, Nevada, Washington, Idaho , Oregon, Colorado, West Coast, San Francisco, Seattle, Miami, San Mateo, Redwood City , California

☆ Stock Market Today: Dow Slides 100 Points as Debt-Ceiling Deal in Focus
▼ + stars: | 2023-05-30 | by ( ) www.wsj.com time to read: +1 min

Stocks were mixed and Treasury yields fell after a tentative deal was struck to raise the U.S. debt ceiling over the long weekend. The next step is for the legislation to be passed by Congress , which could run into procedural hurdles and opposition from lawmakers. Prices declined in some Western markets, such as San Francisco, Seattle and Phoenix. The worst performing sector in the S&P 500 this year led the way lower as fuel prices fell. Natural-gas futures fell 6% to trade at $2.27 per million British thermal units.

☆ Home price declines may be over, S&P Case-Shiller says
▼ + stars: | 2023-05-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Nationally, home prices in March were 0.7% higher than March 2022, S&P CoreLogic Case-Shiller Indices said Tuesday. "The modest increases in home prices we saw a month ago accelerated in March 2023," said Craig J. Lazzara, managing director at S&P DJI, in a release. Before seasonal adjustment, prices rose in all 20 cities in March (versus in 12 in February), and in all 20 price gains accelerated between February and March. Miami, Tampa, Florida, and Charlotte, North Carolina, saw the highest year-over-year gains among the 20 cities in March. Compared with a year ago, 19 of 20 cities reported lower prices with only Chicago showing an increase at 0.4%.

☆ US home prices rose in March for the second month in a row
▼ + stars: | 2023-05-30 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —US home prices rose slightly in March, showing a continuing recovery, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index, released Tuesday. It’s the second month in a row that prices have increased, after an increase in February that snapped a seven-month streak of month-over-month declines. Home prices went up 0.7% in March from the year before, down from 2.1% in the previous month. “The farther west we look, the weaker prices are.”Miami continued to have the largest year-over-year price growth for the eighth consecutive month with a 7.7% increase. Still, “the housing market is likely to remain relatively tense until either home prices or mortgage rates fall enough to bring balance via both buyer and seller activity.”

☆ Famed economist David Rosenberg says home prices are set to fall further as buyers retreat to the sidelines and a hawkish Fed means stubbornly high mortgage rates
▼ + stars: | 2023-05-26 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

With mortgage rates unlikely to budge and incomes unlikely to grow, prices are due to drop. Housing affordability is calculated by accounting for three variables: home prices, mortgage rates, and incomes. Ian Shepherdson, the chief economist at Pantheon Macroeconomics who said in the 2005 that a housing downturn would spark a recession, made the same argument in recent weeks. Now that's quite striking because mortgage rates are no longer at peak, but applications are still falling. This would send interest rates — and therefore mortgage rates, which trade closely with Treasury rates — higher, further hurting demand and affordability, Moody's Chief Economist Mark Zandi recently told Fortune.

☆ An 'unliveable shack that must be demolished' just sold for $1.1 million in Sydney after a bidding war. It shows how messed up Australia's housing market has become.
▼ + stars: | 2023-05-24 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

An "unliveable shack that must be demolished" in a Sydney suburb just sold for $1.1 million. The Australian property market has been on a red-hot streak — home prices rose for a second straight month in April. The pricing guide was AU$1.2 million, and bidding started at AU$1.25 million, according to a video of the bidding posted on YouTube. On May 18, a "dilapidated" home in Paddington, an upscale suburb in eastern Sydney, sold for AU$1.53 million, according to a news.com.au report. There were ten bidders for the "unliveable" three-bedroom house, which had been deemed too dangerous for inspections, per the report.

☆ Credit Suisse's chief US economist says home prices will likely fall another 5-10% — and that gridlock between buyers and sellers will prevent both appreciation and a larger crash
▼ + stars: | 2023-05-11 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Credit Suisse's Chief US Economist Ray Farris says home prices will see a 'long recession.' Rather, the market is likely to go through a sort of holding period, where activity stays low and prices neither boom nor bust. You can spread the housing market over many more locales in the US and that's what's happening." And the way I think of that, as a base case, it means that even as mortgage rates come down, the housing market doesn't recover rapidly. Morgan Stanley's Ellen Zentner is one economist that — like Farris — doesn't expect a recession, and only sees prices falling another 4% this year.

☆ Lawmakers press companies that collect U.S. consumer data to reveal how they buy and sell it
▼ + stars: | 2023-05-10 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

In the letters, 10 lawmakers asked the companies for detailed responses on the types of sensitive information they gather, such as health, location and phone data, including apps consumers download to their devices. The companies were also asked what information they collect on minors. Last month, the subcommittee on oversight and investigations held a hearing with expert witnesses to examine "the role of data brokers in the digital economy." In that report, the regulator recommended that Congress force brokers to give consumers greater control over their data, but the "data brokers can easily circumvent existing rules and laws," the letter said. Here's the full list of data brokers who received the letter::AcxiomAtDataBabel StreetCoreLogic SolutionsEpsilon Data ManagementEquifaxExperianGravy AnalyticsInteliusKochavaLiveRampMylifeOracle AmericaPeopleConnectPlacer.aiRELXSafegraphSpokeoThomson ReutersTransUnionVerisk AnalyticsWhitepagesSubscribe to CNBC on YouTube.

☆ A chief economist who called the 2008 housing crisis says home prices are set to drop another 15% as falling mortgage rates and a recession will create a supply-demand imbalance
▼ + stars: | 2023-05-09 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

This will drag 30-year mortgage rates — which track closely with 10-year Treasury rates because they typically have a lifespan of around 12 years — down to 6% or lower. One might argue that falling mortgage rates would also stimulate demand enough to meet the rise in supply, holding prices relatively steady. Now that's quite striking because mortgage rates are no longer at peak, but mortgage applications are still falling. Tight monetary policy and a pullback in lending will lead to a cooling labor market, he said, and that's bad for housing demand. Below is the National Association of Realtors' Housing Affordability Index, which takes into account incomes, home prices, and mortgage rates.

☆ Home prices are back on the rise as the spring market proves more competitive than expected
▼ + stars: | 2023-05-02 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

After cooling for the better part of last year, home prices are on the rise again. "Just five months ago, prices were declining on a seasonally adjusted month-over-month basis in 92% of all major U.S. markets. Competition among buyers is not only pushing prices higher but also accelerating the market again. Of the nation's 50 largest housing markets by population, just Austin, Salt Lake City and San Antonio are seeing prices fall month to month. A separate report released Tuesday from CoreLogic focuses on home price comparisons from a year ago, but also shows prices gaining month to month.

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