Last week, mortgage applications dropped 6.2% due to rising interest rates and lower refinance demand. Fed policy announcement may impact future rates.
REITs start 2025 with modest gains. Russell 1000 and Dow Jones Total Stock Market outperform. ETFs with strong REIT performances include REZ, VNQ, and RSPR.
US homeowners and buyers were waiting for the Federal Reserve's move to boost the mortgage market. A 50-basis-point rate cut led to a surge in applications.
Investors are optimistic about real estate sector as Fed prepares for rate cuts. $2.2B inflow in August to REITs. IYR, VNQ, XLRE, RWR, REZ top performing ETFs.
Good news for US homebuyers as mortgage rates drop to lowest level since May 2023. Despite this, mortgage applications dip as buyers wait for Fed's future policy direction. Real estate sector up.
Bond yields drop on expectations of Fed rate cut, leading to lowest mortgage rates in over a year and surge in mortgage applications for both new and refinancing loans.
Residential house prices reached record highs in April 2024, but growth slowed, possibly indicating normalization. All 20 largest US metros saw gains, led by San Diego's double-digit growth.
Performance in April 2024: Utilities lead, real estate lags. S&P 500, Nasdaq 100, Dow Jones Industrial Average, small-cap and large-cap indices all decline.
The iShares Residential and Multisector Real Estate ETF (ARCA: REZ) is down over 31% year-to-date, as real estate investment trusts (REITs) are some of the most sensitive assets to changes in interest rates.
