Consumer

Congress overwhelmingly passed the bipartisan bill this week, teeing it up for the president’s signature. Instead, a scheduled signing ceremony was canceled.

Though high rates and home prices continue giving many consumers pause, 53% believe buying a home is a better option than paying rent or moving in with family.

Total regulatory costs involved in building the typical new single-family home now exceed $131K — up from about $94K five years ago, according to the NAHB.

The ROAD to Housing Act could pass in a few weeks. Plus, FHFA seeks broader mortgage fraud prosecution power; lawmaker reportedly asks FTC to probe portals.

With the Strait of Hormuz starting to reopen, oil prices have dropped — and mortgage rates are beginning to tick down amid hopes for easing inflation.

The national inventory crunch and missed opportunities during the pandemic have left many under 35 unable to afford the ability to strike out on their own.

Though the Fed held short-term interest rates steady at its June meeting, several officials now anticipate at least one rate hike before the end of the year.

The move is part of a plan to create a fully end-to-end homeownership platform that spans real estate transactions, omnichannel commerce and home services.

Despite recent gains in affordability, a new Zillow analysis found that a record number of U.S. cities now have typical starter homes priced at or above $1M.

While new Federal Reserve Chair Kevin Warsh might not be able to push for rate cuts right now, he may shift how the Fed handles forecasts and communications.

CFPB’s ex-deputy director could soon be its leader. Plus, advocates lobby for housing affordability, long-term NFIP funding; no “rush” for Fannie, Freddie IPO.

Windermere Real Estate’s addendum aims to counter efforts to obscure listing details and help buyers “gauge whether relevant information is being withheld.”

After testing out a limited pilot program in eight major markets, HouseCanary’s partnership with the search giant is expanding across all 50 states.

Pending sales remain sluggish as mortgage rates tick back up, but for buyers who are ready to commit, “the door is open” to negotiate favorable terms.

A majority of prospective buyers also said that they would trust AI-provided mortgage assistance, according to a new survey from Veterans United Home Loans.

While energy prices pushed overall inflation up to 4.2% in May, core inflation was lower than expected, possibly staving off a near-term rate hike by the Fed.

Buyers have the biggest advantage in Sun Belt cities that saw a surge in home construction during the first half of the decade.

The U.S. added 172,000 jobs in May, which could boost consumer confidence. But it ups the odds of a June rate hike and will likely keep mortgage rates elevated.

At a time when home sales should hit their peak, both buyers and sellers are backing off, “possibly foreshadowing slower sales in the second half of the year.”

Falling prices, an uptick in pending sales and fewer price cuts could mean sunny months are ahead for the market — if inflation, mortgage rates stabilize.