Diana Olick, NBR, CNBC.com’s Posts

While price gains are now shrinking, affordability is still at the lowest level in a decade and proving to be the biggest barrier to housing demand. Sales of newly built and existing homes continue to suffer.

Rates are now about a full percentage point higher than they were a year ago, hovering now just below 5 percent. They are expected to move higher in 2019, however.

Total mortgage application volume fell 2.5 percent last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

Homebuyer demand is strong, but affordability was weakening even before rates began to rise, as tight supply pushed home prices sharply higher.

Following the subprime mortgage crisis, low-income borrowers with low credit scores were locked out of homeownership. Now a major player in the subprime crisis is backing new loans to the same borrowers but with a far different product.

Mortgage rates moved to the highest level in 8 years, and confidence in housing is now slipping. This as millennials are smack in the middle of their prime home buying years. Rates are expected to move even higher going into next year.

Total real estate sales in Manhattan fell 11 percent in the third quarter compared with a year ago, marking the fourth straight quarter of double-digit declines, according to new data.

Signed contracts to buy existing homes fell for the second straight month to the lowest level since January of this year. Sales have fallen for four out of the last five months, as prices and mortgage rates increase.

Homeowners continued their rush to refinance, as mortgage rates jumped even higher last week.

Home cycling platform Peloton is suing Flywheel over alleged patent infringement on its competitive leaderboard technology.

An estimated 250,000 homes in North Carolina will likely be affected, with the bulk of the damage in that state. Across both states, Florence could cause $3 billion to $5 billion in insured property losses from wind and storm surge, according to CoreLogic.

Fast-rising home prices and higher mortgage rates have made it both cheaper and a better investment to rent a home than to buy one.

Homebuyers and homeowners don’t have much incentive to call a mortgage lender right now.

Fast-rising home prices and higher mortgage rates have made it both cheaper and a better investment to rent a home than to buy one.

When shopping for homes, millennials are putting their pets’ needs at the top of their list.