Category: Cities

Flight from the Cities: Homebuyer Mortgages Up 28% From Last Year
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Flight from the Cities: Homebuyer Mortgages Up 28% From Last Year

Americans are rushing to buy homes outside of cities inflicted by unrest, lockdowns. and rising violence, pushing purchase mortgage applications into the 15th week of annual gains. Applications for mortgages to purchase homes were up last week 28 percent compared with a year ago, although they fell tw0-tenths of a percentage point from a week…

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Flight from the Cities: Existing Home Sales Soar Nearly 21%—A Record Shattering Monthly Jump
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Flight from the Cities: Existing Home Sales Soar Nearly 21%—A Record Shattering Monthly Jump

Existing-home sales exploded higher in June as home buyers took advantage of record-low mortgage rates and fled city centers beset with anti-police protests, riots, looting, crime, shootings, stay-at-home orders, shuttered businesses, closed schools, and a loss of amenities such as restaurants, theaters, and museums. Total existing-home sales rose 20.7 percent from May to a seasonally…

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