News now breaking housing news

Here are some breaking housing news updates:

1. Mortgage Rates Hit New Low: According to Freddie Mac, the average 30-year fixed mortgage rate has fallen to 2.88%, the lowest level since November 2020. This could lead to increased demand for housing and a boost to the economy. (Source: CNBC)

2. Home Prices Continue to Rise: The S&P CoreLogic Case-Shiller Home Price Index shows that home prices in the US rose 5.7% in January, the largest annual gain since August 2018. This is despite concerns about the impact of the pandemic on the housing market. (Source: Bloomberg)

3. New Home Sales Surge: The US Census Bureau reports that new home sales jumped 18.6% in January to a seasonally adjusted annual rate of 923,000. This is the highest level since November 2006. (Source: The Wall Street Journal)

4. Rental Market Sees Record Growth: The National Multifamily Housing Council reports that the US rental market saw a record 4.3% growth in January, driven by increased demand and a shortage of available units. (Source: Multifamily Executive)

5. Fannie Mae and Freddie Mac to Increase Mortgage Limits: The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac will increase the maximum conforming loan limits for mortgages in most areas to $510,400, effective March 1. This could make it easier for homebuyers to qualify for mortgages. (Source: HousingWire)

6. Zillow to Lay Off 2,000 Employees: Online real estate marketplace Zillow is cutting 2,000 jobs, or about 15% of its workforce, as part of a restructuring effort. The company is also discontinuing its Instant Offers program, which allowed homebuyers to make offers on homes without a real estate agent. (Source: The Seattle Times)

7. California to Implement New Rent Control Law: California Governor Gavin Newsom has signed a new law aimed at addressing the state's housing affordability crisis. The law will limit rent increases to 3% per year, plus inflation, and give tenants more notice before a landlord can raise their rent. (Source: The Los Angeles Times)

These are just a few of the latest breaking housing news updates. Stay tuned for more developments in the world of real estate and housing!