Small local banks usually have a more concentrated portfolio, thus more susceptible to the downturn in commercial real estate sector, but the Fed has indicated that it will spare no effort to prevent it from snowballing into a systematic risk, says Lea Overby of Wells Fargo Securities.
The subpoena would compel accounting firm Mazars USA to turn over eight years of returns and other financial documents.
Home prices have risen 4.8 percent in July, according to the Case-Shiller Index. Jack Micenko, Susquehanna Financial Group, and Tendayi Kapfidze, Lending Tree chief economist, join ‘Power Lunch’ to discuss the names they’re watching in the sector.
The latest read on the home prices showed a jump in July, according to the Case-Shiller Index. CNBC’s Diana Olick reports.
Mortgage applications to purchase a home fell 2% for the week but were 22% higher than one year ago, according to the Mortgage Bankers Association.
Pending home sales rose 8.8% in August, reaching a record high pace, according to the National Association of Realtors survey.
Despite another interest rate drop, demand for refinancing and purchasing mortgages fell last week, with total mortgage application volume down 4.8% from the previous week, according to the Mortgage Bankers Association. CNBC’s Diana Olick reports.
CNBC’s Diana Olick reports on pending home sales data, which jumped 8.8% to a new record high.
Despite a global recession brought on by the coronavirus pandemic, home values around the world continue to rise, with some markets at risk of overheating.
DocuSign CEO Dan Springer explained how the home-buying process has evolved during the pandemic and what he sees as the “new normal” for contracts going forward.