The Federal Reserve kept interest rates unchanged Wednesday, signaling continued caution as policymakers balance solid economic growth against lingering inflation pressures fueled by energy costs and geopolitical uncertainty. The Federal Open Market Committee voted to maintain the federal funds target range at 3½% to 3¾%, leaving borrowing costs at their highest levels of the current policy cycle as...

PennyMac Financial Services on Wednesday reported second-quarter 2026 net income of $22 million, down 84% from a year earlier and sharply lower than its first-quarter net income of $82.3 million, as higher interest rates reduced mortgage production volume and weighed on profitability. The company’s weaker quarter came in tandem with layoffs by the Westlake Village, California-based mortgage lender and...

Cloze has introduced an Open House app for its Enterprise customers that automatically captures visitor information at property showings and feeds it into the company’s customer relationship management system, aiming to simplify follow-up with prospective buyers. The app replaces traditional paper sign-in sheets with digital check-ins that create contact records, log attendance and collect visitor...

Proprietary reverse mortgages, rather than government-insured Home Equity Conversion Mortgages (HECMs), are driving the reverse mortgage industry’s recent growth, according to an analysis of Home Mortgage Disclosure Act (HMDA) data published Wednesday by New View Advisors. Total reverse mortgage volume rose from $6.25 billion in 2023 to $7.51 billion in 2024 and $9.65 billion in 2025, New View...

Today the Federal Reserve decided not to hike rates, but the hawks have moved their chess pieces: three Fed members wanted to hike rates at this meeting, which means September is in play for the first rate hike after the cut cycle ended. However, the long end of the bond market has already done the early heavy lifting for the Fed as hawks Beth Hammack and Lorie Logan won today and Fed Chair Kevin Warsh did...

CoStar Group reported an 18% year-over-year revenue increase for the second quarter ended June 30 — reaching $925 million compared to $781 million in the same period last year. Leaders said growth was driven by major technological expansions, increased platform engagement and significant operational efficiency across residential and commercial and real estate marketplaces. The real estate...

If Jay Gatsby ever traded West Egg for South Florida, his dream estate might have looked something like this. Now listed for $21.495 million, the extraordinary residence at 5771 SW 94th Street in North Pinecrest combines the grandeur of Europe’s Belle Époque with the scale and amenities of a modern Florida compound. Designed by acclaimed architect Rafael Portuondo, the estate spans nearly two...

Some homes carry architectural pedigree. Others have celebrity provenance. This Hoboken brownstone has both. Now listed for $3.95 million, the extensively renovated owner’s duplex at 909 Hudson Street occupies one of the city’s most recognizable historic residences — the brownstone Frank Sinatra purchased for his parents in the 1940s, at the height of his meteoric rise from local Hoboken singer...

Summer Selling Season Gains Momentum in Central Florida Central Florida's housing market continued to build momentum in June, with home sales increasing for the fifth consecutive month as buyers returned during one of the region's busiest seasonal periods. New data from the Orlando Regional Realtor Association shows overall residential sales climbed 8.0% month-over-month, rising from 2,711 transactions in...

Welcome to “The Houzz Guest,” a six-part series where we’ll talk with design, remodeling and building experts for practical advice on improving your home. In our debut episode, host Dorcas Adewole discusses healthy homes with...