Mortgage demand falls 9% despite rates falling for fourth week in a row

The numbers: The housing market is not out of the woods yet, as mortgage demand fell again despite an improvement in rates. Despite mortgage rates dropping for the fourth consecutive week, mortgage demand fell 9% in the latest week. Demand for both purchases and refinancing fell. That pushed the market composite index down, a measure … Read more

Fannie Mae’s chief economist sees house prices falling by 6.7% over the next 2 years. These are the warning signs.

The real-estate sector is in a quandary. The housing market was a wild rollercoaster ride that ended with a big fat splat last year, with mortgage rates doubling and demand plummeting. Home sellers aren’t keen on listing their homes, given that they’ve recently secured an ultra-low mortgage rate. Home buyers, as a result, are struggling … Read more

Wolfspeed whiffs on sales and forecast, and its stock is falling

Shares of Wolfspeed Inc. fell about 6% in after-hours action Wednesday after the semiconductor company fell short with its revenue and forecast for the current quarter. The chip company, which focuses on silicon carbide, generated a fiscal second-quarter net loss of $90.9 million, or 73 cents a share, whereas it lost $96.7 million, or 82 … Read more

GE has seen only 1 thing that warns of falling demand in 2023

““The only thing we have seen, and this is in a proprietary view, Deane, is obviously, freight has softened here as the short-cycle economy has done the same.”” — GE CEO Larry Culp to RBC Capital Markets analyst Deane Dray That’s General Electric Co. Chief Executive Larry Culp, who said Tuesday he was only seeing … Read more

House prices slumped by 10% in San Francisco, Redfin says — and prices are also falling in these cities

Even as mortgage rates come off of recent highs, buyer demand remains constrained. And that’s affecting home-list prices, according to a new report. The report by Redfin RDFN, +2.67%, which tracked home-sale prices for the four weeks ending Jan. 15, found that the median price of a house in the U.S. rose 0.9% from a … Read more