See the full story in the original article.
Read the original on ludlowadvertiser.co.uk ↗
Keywords
interest ratesmortgageshousing
Open a keyword to see other news on the same topic.
Related news
- Housing is flashing warning signs just as the Fed weighs more interest rate hikes
The U.S. housing market weakened further in September even as price pressures persisted, complicating the Federal Reserve's decisions on whether to raise interest rates. The 30-year mortgage rate was above 7% for most of September and ended the month around 7.6%, and could rise further if the Fed hikes short-term rates as expected. The National Association of Realtors' pending sales index fell 7.3% for the month and was 11.3% lower than a year earlier, an all-time low in records dating to 2001. Privately owned housing starts dropped 5.2% on a seasonally adjusted annualized basis, far worse than the expected 0.4% decline, while Goldman Sachs expects affordability pressures to dominate the housing market in 2027.
- US single - family housing starts , building permits tumble in September – Taylorville Daily News
U.S. single-family housing starts fell 4.6% to a seasonally adjusted annual rate of 859,000 units in September, while single-family building permits dropped 4.0% to 845,000 units, according to the Census Bureau. Mortgage rates surged, with the 30-year fixed rate averaging 7.40% last week, the highest in nearly three years, as Treasury yields rose on inflation fears tied to the US-Israeli war with Iran. The National Association of Home Builders reported that builder sentiment in October fell to its lowest level since June 2012, citing higher material costs, mortgage rates, pricier diesel, and worsening labor conditions from an immigration crackdown. Slumping sales have left a glut of unsold homes, reducing incentives for developers to start new projects, although a national housing shortage keeps home prices elevated.
- US Pending Home Sales Collapse To Record Lows In September
US pending home sales fell 7.3% month-over-month in September, worse than the expected 3.9% decline and reversing August's 0.3% gain, pushing the index to a record low. NAR chief economist Lawrence Yun blamed fast-rising mortgage rates, with the 30-year fixed rate at 7.40% per Freddie Mac for the week of October 11, up 113bps year over year. Contract signings fell in every region, most sharply in the West (-9.2% monthly), while the Northeast fell 4.2% monthly but posted the country's largest annual price gain, with its median existing-home price up 5% to $523,600. Yun thinks mortgage rates could be topping out, but uncertain energy prices add inflation risk, and Goldman Sachs expects near-term housing activity to stay under pressure.
- Today mortgage rates : Posted rates moved at 5 of 8 tracked lenders
Posted rates moved at 5 of 8 tracked lenders on Tuesday: Veterans United's VA 30-year fixed rose to 6.75% (+0.25), Rocket Mortgage and Bank of America both rose to 7.5% (+0.125), and AmeriSave's 15-year fixed rose to 5.375% (+0.125). The gap between the cheapest tracked 30-year rate (AmeriSave at 6.25%) and the most expensive (Rocket Mortgage at 7.5%) is 1.25 points, or about $334 a month on a $400,000 loan. Freddie Mac's national average 30-year fixed rate was 7.40% for the week ending October 15, 2026, unchanged from the prior week. The 10-year Treasury yield, the benchmark long-term mortgage rates most closely track, was 5.09% at its latest close, down 15 basis points over the week. RateZip's index shows September 2026 mortgage inquiries 4% lower than August but 99% higher than September 2025, with home-equity products (HELOC and reverse) making up 90% of inquiries over the three months through September.
- Pending home sales sink to 25-year low as buyers flee high mortgage rates
- September data shows housing market in a deep freeze
Rising mortgage rates took a harsh toll on the housing market in September. Pending home sales, which measure signed contracts on existing homes, fell 7.3% from August and 11.3% year over year, according to the National Association of Realtors. The average 30-year fixed mortgage rate climbed from about 6.8% to 7.6% during the month, and sales fell most sharply in the South (-8.2%) and West (-9.2%). Housing starts dropped 4.56% to 859,000 annualized, the lowest since September 2025, and building permits fell 4%. Homebuilder sentiment in October hit its lowest level in 14 years, and economists expect construction to stay weak into 2027.
Related markets
Latest news
- Meta Q3 earnings to test Wall Street's stomach for AI spending
Meta is set to report third-quarter results after the bell on Wednesday, kicking off Big Tech's earnings season. Bloomberg analyst consensus expects EPS of $3.56 on revenue of $63.3 billion, versus $1.05 and $51.2 billion a year earlier, while capital expenditures are projected to rise 117% to $41 billion. Reality Labs is expected to post a $5.2 billion operating loss. The results come as investors weigh AI spending, including CoreWeave's (CRWV) debt load, and Meta stock is down more than 3% over the past year. Meanwhile, its Muse AI agent reached 10 million downloads 40 days after its US launch, faster than ChatGPT and Claude, and BofA says Meta has the least risk of AI disruption to its core business.
- General Mills Stock Is Down 30%, and Wall Street Analysts Keep Cutting Their Price Targets. Here's Why History Says They're Missing the Bigger Picture.
General Mills shares are down around 30% over the past year, while the average consumer staples stock is up nearly 10%, and Bank of America and Evercore ISI cut their price targets after fiscal first-quarter 2027 results. Sales fell 3% and organic sales were flat, an improvement from the 5% drop and 2% organic decline a year earlier, with food service and international businesses growing. The article says the company is adjusting after cutting prices in fiscal 2026, but the dividend is a risk: adjusted EPS of $0.75 against a $0.61 dividend implies a payout ratio of roughly 80%. With a 7.3% yield, investors are paid while they wait for a turnaround, and a 27-year company veteran becomes CEO at the start of 2027.
- Opendoor Is Now Down 64% This Year: Is OPEN Stock a Falling Knife or Poised for a Comeback?
Opendoor shares rose 2% to $2.09 in afternoon trading but remain down 64% year to date, while the SPDR S&P 500 ETF Trust is up 13%, as its balance-sheet-heavy iBuying model faces a frozen housing market. The 10-year Treasury yield, which guides mortgage rates, stood at 5.09% on October 16. Q2 2026 revenue fell 43.6% YoY to $883 million and the GAAP net loss grew to $162 million, though acquisition volume is rising and homes listed over 120 days fell to 9% from 36%. Management expects Q3 2026 revenue to grow at least 20% YoY and targets positive adjusted net income by year-end, and the upcoming report will show whether the stock bounces or keeps falling.
- Bitcoin ETFs Post Their Best Day in Nearly a Month as BlackRock Does All the Buying
U.S. spot Bitcoin ETFs drew $526.7 million on Oct. 19, their largest single-day inflow since $714.7 million on Sept. 22, ending two weeks of selling that shed about $910 million. BlackRock's IBIT took in $665.2 million, while Fidelity's FBTC lost $83.6 million and Grayscale's GBTC lost $54.9 million, cutting October's net outflows to roughly $88 million from about $615 million. Ethereum ETFs lost $103 million and Solana ETFs $6.7 million the same day, while Bitcoin hovered near $82,000, close to the $82,300 average cost basis estimated for ETF holders. The article links the broader pressure to expected Federal Reserve rate hikes, citing a 3.7% CPI rise over 12 months, a 20.4% jump in energy prices, and a 10-year Treasury yield above 5% that competes with yield-free Bitcoin.
- Ten Million Downloads in Six Weeks: The Fight for the AI Agent in Your Pocket Has Started
A new personal AI agent launched on September 8 has been downloaded 10.9 million times in six weeks, according to Sensor Tower data, with more than 10.2 million downloads in the U.S. Its daily active users reached about 2.5 million for the first time on October 16, up 15% week over week, and Sensor Tower says only 11 other apps have hit 10 million U.S. downloads within 40 days. Over the past 30 days, U.S. downloads of a leading chatbot app fell 25%. A Deutsche Bank analyst projected the product could account for up to 8% of its parent company's revenue by 2030, roughly $36 billion, with a low-end estimate of $2.4 billion. The article notes that Meta, Yelp, Snap, SoundHound and Nextdoor are also building their own AI agents.
- Amazon Creates Over 300,000 New U.S. Jobs This Holiday Season with Increased Pay and Expanded Benefits
Amazon is hiring more than 300,000 people for seasonal, part-time and full-time roles across its U.S. core operations network this holiday season. Starting January 1, 2027, eligible seasonal employees working at least 30 hours a week will get healthcare coverage from their first day, with plans starting at $5 a week and $5 copays. Seasonal workers earn an average of $20 an hour, while full-time core operations employees start at a minimum of $20 an hour, with average pay nearly $24 and total compensation including benefits exceeding $32 an hour. Amazon also cites more than $1.5 billion in higher pay for its U.S. core operations workforce, plus uncapped discounts of 10% on eligible groceries and essentials at Amazon.com and Whole Foods online, and 20% at Whole Foods stores.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.