Investors seeking single-family homes to rent are buying land and newly-built properties as foreclosures dwindle and existing home prices in the U.S. rise at their fastest pace since 2006.
Mortgage rates in the U.S. rose for the first time in six weeks after borrowing costs near all-time lows spurred demand for home loans.
The U.S. homeownership rate fell to the lowest in almost 18 years, reflecting rising demand for rentals and investor purchases in the housing market.
The U.S. housing recovery is being driven more by buyers seeking a place to live than by investors, said Oliver Chang, a former Morgan Stanley analyst and proponent of bringing institutional capital to rental housing.
Mortgage rates in the U.S. fell, decreasing borrowing costs as the housing market moves into its second year of recovery.
Brookfield Residential Properties Inc., the second-best performing home-building stock in the Americas over the past year, said the recovery in U.S. housing is only just starting to add to earnings.
Seriously delinquent U.S. mortgages fell to the lowest level since 2008 as employment improved and recovering housing demand enabled struggling borrowers to sell without losing money.
David and Michelle Haisley from Fort Wayne, Indiana, weren’t happy with the performance of their retirement funds, so they made another investment -- a foreclosed home for $27,000.
Rates for 30-year U.S. mortgages held at the lowest level on record as fewer Americans sought loans for home purchases.
Guy Asaro, president of McMillin Homes LLC, bought three land parcels in Texas this year while coming up empty in the San Diego area, where the closely held builder is based.