Recently, there has been a slight decrease in mortgage interest rates for 30-year fixed-rate mortgages with conforming loan balances, reaching 6.82%. Despite this decrease, potential homebuyers have not shown a significant increase in purchasing activity. The decrease in rates over the past few weeks has not been substantial enough to entice buyers to make a
Real Estate
The housing market experienced a 5.4% drop in sales of previously owned homes in June compared to the previous month. This decline was also apparent in year-over-year sales, which were down by 5.4%. These figures indicate the slowest sales pace since December, pointing to a significant shift in market dynamics. Chief Economist for the Realtors,
When considering whether or not to buy a home, the first step is to assess your financial situation. According to a recent study by Zillow, in 2022, there were millions of renter households who could have afforded to buy a home. However, many renters may not be aware that they are in a position to
Housing remains the most significant expense for consumers in the U.S., with high rents and home prices posing obstacles for potential homebuyers. However, access to affordable credit presents another significant roadblock. An estimated 50 million Americans fall into the category of “credit invisible,” meaning they do not have a credit file or score. This lack
In the past week, mortgage rates have plummeted to their lowest level since March, prompting a significant surge in refinancing applications. The Mortgage Bankers Association reported a 15% increase in refinance applications compared to the previous week, reaching the highest level seen since August 2022. This jump in demand was an astounding 37% higher than
The housing market in America is facing a crisis with tight supply, lack of affordable homes, and high mortgage rates. The situation differs from state to state, making it crucial for businesses to consider the local residential real estate market when deciding on their location. CNBC includes the housing market as part of the Economy
The recent dip in the consumer price index has sparked anticipation for the Federal Reserve to commence interest rate cuts in the coming months. This positive development follows signs of a cooling economy, providing crucial data that supports the need for rate adjustments. Greg McBride, a chief financial analyst at Bankrate.com, highlighted the significance of
The housing market has experienced a significant transformation in recent years, with surging mortgage rates playing a crucial role. The 30-year mortgage rate, a popular choice for home buyers seeking financing, has been hovering around 7% for several months. This is a stark contrast to the sub-3% rates that were prevalent during the early stages
China’s upcoming Third Plenum is expected to address critical issues such as high local government debt levels and the push for advanced manufacturing. The delay in this much-anticipated policy meeting reflects the urgency for structural reforms beyond the real estate sector. Analysts are looking for a shift towards an alternative fiscal system to reduce reliance
The dream of owning a home is becoming increasingly challenging for Gen Zers, with about 22% citing the lack of affordable starter homes as a major barrier. In response to this, some are considering fixer-upper homes as a potential solution to this issue. A fixer-upper is typically an existing house that requires varying degrees of
