Today: 16. Nov, 2024
Sales of previously owned homes dropped in September, reaching levels not seen since October 2010. The market faces challenges, including high mortgage rates, fluctuating inventories, and longer sales cycles. As Lawrence Yun, chief economist for the National Association of Realtors, noted, “Home…
As mortgage rates hover around 6%, homebuyers seek creative alternatives to reduce interest costs. One increasingly popular option is the assumable mortgage, a method that allows buyers to inherit an existing mortgage rate, which could be as low as 2% or 3%.…
The U.S. housing market has been challenging for many potential buyers, but recent developments suggest that conditions might be improving, though affordability remains a significant hurdle. A combination of lower mortgage rates and increased inventory is offering some relief, but experts caution…
August saw a larger-than-expected dip in home sales, marking a continued slowdown in the housing market. According to the National Association of Realtors (NAR), sales of previously owned homes fell by 2.5% from July, reaching an annualized rate of 3.86 million units.…
The housing market continues to be a hot topic of discussion, especially with the Federal Reserve’s influence on mortgage rates. Rocket Companies CEO Varun Krishna recently shared insights on how rate cuts have already been factored into current mortgage rates. In a…
The Federal Reserve is expected to announce its first interest rate cut in years, bringing some relief to Americans burdened by rising living costs and sky-high borrowing rates. However, experts caution that this rate cut, while a positive step, won’t provide immediate…
With home prices skyrocketing, American homeowners now hold a staggering $32 trillion in home equity as of the first quarter of 2024, according to the St. Louis Federal Reserve. This unprecedented figure offers both opportunities and risks for homeowners considering tapping into…
Mortgage Demand: A Tepid Response to Falling Rates Mortgage rates dropped last week for the fourth consecutive time, reaching their lowest level since April 2023. Despite this trend, neither homeowners nor prospective homebuyers rushed to take advantage of the situation. According to…
Prepare for Lower Rates with Smart Financial Decisions Last week, Federal Reserve Chair Jerome Powell hinted at an upcoming interest rate cut, marking a significant shift in economic policy. “The time has come for policy to adjust,” Powell stated during the Jackson…
The stock market saw a significant boost on Friday, following Federal Reserve Chair Jerome Powell’s announcement that the time has arrived to begin cutting interest rates. This declaration marks the clearest indication yet that the Federal Reserve is prepared to initiate an…
