Consumer

If Compass’ acquisition of Anywhere goes through, it could trigger a private inventory race with major implications for the brokerage ecosystem — and consumers.

Mortgage rates are also expected to fall to 5.9% by the end of next year, according to Fannie Mae’s September Economic and Housing Outlook.

Rent prices have softened in a handful of major U.S. markets, but overall asking rents remain much higher now than before the pandemic.

Weak jobs data is expected to outweigh inflation numbers as the Fed considers a rate cut next week — which could be followed by more before the end of the year.

Plus, the BLS makes a significant downward revision to jobs numbers, and the president’s nominee to replace an ex-Fed official advances to a Senate vote.

The top cities for investors are largely located in Florida and Texas, where home prices are typically lower, demand is strong and regulations favor landlords.

Trading on-campus food and housing costs for those linked to homeownership can save up to $30,000 in three years in some college towns, a new report suggests.

Gov. Greg Abbott said “foreign adversaries like China, Russian, Iran and North Korea” and terrorist organizations “must not be allowed to own land in Texas.”

Plus, Trump signs trigger leads bill; DOJ investigates mortgage fraud claims linked to a Fed governor; advocacy groups call for a vote on key housing bill.

The U.S. economy added 22,000 new jobs in August — less than a third of what was expected — causing mortgage rates to plummet as real estate stocks climbed.

A year ago, surprising jobs data sent rates soaring. This year’s Sept. 4 report could also be pivotal, potentially resulting in volatility heading into fall.

Meanwhile, renter households have jumped, Redfin reported, citing affordability and other issues. But lower home prices could “be the headline” in a few months.

It’s possible mortgage rates — which have recently hovered under 6.6% — will drop to 6%, one economist noted, but it could take a couple of years to get there.

Plus, the FHFA approves Rocket’s acquisition of Mr. Cooper; the CFPB proposes new terminology around consumer risk, narrowing its supervision of nonbanks.

The iBuyer’s shares jumped over 85% on Aug. 28 — just a few weeks after Opendoor avoided delisting with some help from activist investors.

Pending home sales remain sluggish, but mortgage applications — and home touring activity — have ticked up as 30-year rates hold at 10-month lows.

While many borrowers take on a mortgage in the hope of refinancing when rates drop, a new report warns against counting on a refi as a financial lifeline.

A lawyer representing Federal Reserve Governor Lisa Cook said her termination “lacks any factual or legal basis.” She intends to sue to retain her position.

New home sales were down 8.2% in July compared to a year ago despite an uptick in builder incentives. But those priced under $300k are selling the fastest.

Federal Reserve Chair Jerome Powell suggested that the board is ready to start cutting rates, which could mean a boost for home sales and construction.