Today: 17. Dec, 2024
Fewer homeowners are remodeling, but demand is still ‘solid.’ Despite a decline in the number of remodeling projects, the market remains robust, driven by several underlying factors. Market Trends and Indicators The Leading Indicator of Remodeling Activity (LIRA), which tracks home improvement…
As mortgage rates experienced a modest decline last week, a noticeable uptick in refinancing interest emerged, particularly following a sustained period of rate increases. This trend underscores a complex landscape in the housing finance sector, where rate fluctuations continue to dictate market…
In 2023, more Americans paid capital gains taxes due to elevated home sale profits. As real estate values climb, homeowners who sell their primary residence face significant tax implications, particularly when profits exceed certain thresholds. However, financial experts offer strategies to mitigate…
The 30-year fixed-rate mortgage is a distinctly American phenomenon in the global housing market landscape, shaping how U.S. homebuyers finance their homes. According to Greg McBride, chief financial analyst at Bankrate, “The 30-year fixed-rate mortgage is a uniquely American construct,” highlighting its…
Buyers and sellers keenly observe fluctuating mortgage rates as the spring housing market unfolds. With the Federal Reserve’s decisions hanging in the balance, the real estate landscape this season is heavily influenced by the uncertainty of interest rates. According to Freddie Mac,…
As the spring housing market grapples with numerous challenges, including low supply, elevated prices, and surging interest rates, new home sales have surprisingly moved upward. Despite the deterrent of 7% mortgage rates, new construction draws attention with better incentives and availability than…
In an era where the cost of living continues to outpace income growth, achieving the American Dream has become increasingly challenging. Traditionally, a $100,000 income was regarded as the benchmark for financial stability, enabling individuals to own a home, raise a family,…
Navigating New Home Costs The dream of owning a newly built home can often come with unexpected financial burdens. As of February, the median sale price of new construction in the U.S. was recorded at $400,500 by the U.S. Census Bureau and…
Despite increased available homes, sales of previously owned homes declined in March. The National Association of Realtors (NAR) reported a 4.3% drop from February, marking a seasonally adjusted annualized rate of 4.19 million units. This decrease also represents a 3.7% fall compared…
Amidst fluctuating interest rates and an uncertain economic outlook, homeowners who secured their mortgages when rates were high are now pondering whether to refinance. According to Freddie Mac, the refinance activity of 2023 hit a 30-year low due to historically high mortgage…
