The housing market is ‘stuck' until at least 2026, Bank of America warns [CNN]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
Check Earnings Report
US:NYSE Investor Relations:
investor.bankofamerica.com
Company Research
Source: CNN
Economists at Bank of America warned this week that the US housing market is “stuck and we are not convinced it will become unstuck” until 2026 — or later. The bank said home prices will stay high and go even higher. The housing shortage will persist. And mortgage rates may not fall much — even if the Federal Reserve finally delivers long-delayed interest rate cuts. “This will take many years to work itself out. There isn't a magic fix,” Michael Gapen, head of US economics at Bank of America, told CNN in a phone interview. “The message for first-time homebuyers is one of patience and frustration.” Housing affordability is a major problem in America. Home prices spiked during Covid-19 and then the Fed's war on inflation sent mortgage rates surging. The one-two punch has made it a historically unaffordable time to buy a home. “It's been a weird combination. Mortgage rates rose substantially but so did home prices. That typically doesn't happen,” said Gapen. The supply of
Show less
Read more
Impact Snapshot
Event Time:
BAC
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
BAC alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
BAC alerts
High impacting Bank of America Corporation news events
Weekly update
A roundup of the hottest topics
BAC
News
- Top U.S. banks hike dividends after sailing through Fed's stress test [Yahoo! Finance Canada]Yahoo! Finance Canada
- Top U.S. banks hike dividends after sailing through Fed's stress test [Yahoo! Finance]Yahoo! Finance
- Bank of America Comments on Stress Test Results; Plans to Increase Quarterly Dividend 8% to $0.26 Per Share [Yahoo! Finance]Yahoo! Finance
- Bank of America Comments on Stress Test Results; Plans to Increase Quarterly Dividend 8% to $0.26 Per SharePR Newswire
- France Leads European Stocks Lower in Shaky End to First Half [BNN Bloomberg (Canada)]BNN Bloomberg
BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 6/28/24 - Form FWP
- 6/28/24 - Form 8-K
- 6/28/24 - Form 8-K
- BAC's page on the SEC website