In the realm of real estate and homeownership, the process of coming up with a down payment has always been a critical aspect. According to recent findings by Clever.com, 77% of potential homebuyers have initiated the process of saving up for a down payment. Surprisingly, over half of these buyers plan to contribute less than
Real Estate
The U.S. Census recently reported a 4.7% decrease in newly built home sales in April compared to March, with a more significant 7.7% drop from the previous year. This decline in sales can be attributed in part to the rise in mortgage rates, which have been steadily increasing over the past few months. Higher mortgage
After experiencing a decrease for the third consecutive week, mortgage interest rates have ignited a surge in demand for refinances. The Mortgage Bankers Association reported a 1.9% increase in total mortgage application volume compared to the previous week. Specifically, the average contract interest rate for 30-year fixed-rate mortgages decreased to 7.01% from 7.08%, sparking a
China’s recent initiatives to boost support for the real estate market have been applauded, but analysts warn that tangible results may take some time to materialize. Despite the government’s efforts, S&P maintains its initial assessment that the property market in China is still on a downward trajectory, according to Edward Chan, director of corporate ratings.
As the spring housing market picks up steam, homeowners are once again turning their attention to home renovation projects. While the frenzy of the pandemic-era may have cooled off slightly, the investment in home spaces is still significant. According to the 2024 Cost vs. Value report from Zonda Media, some projects are now offering the
In recent years, there has been a noticeable increase in the number of newly built homes hitting the market. According to a report by Redfin, approximately 33.4% of single-family homes available for sale in the first quarter were new builds, nearly double the pre-pandemic levels. This surge in new construction homes has been attributed to
Chinese authorities have recently announced new support for state-owned enterprises (SOEs) to stimulate the purchase of unsold apartments in an effort to address issues in the real estate sector. The People’s Bank of China has pledged to provide 300 billion yuan ($42.25 billion) to financial institutions to lend to local SOEs for the acquisition of
Despite a decrease in mortgage rates to the lowest level since April, homebuyers are still facing hurdles in affording today’s housing market. Mortgage demand saw only a slight increase of 0.5% from the previous week, highlighting the challenges that buyers are currently encountering. The Mortgage Bankers Association’s seasonally adjusted index reported a marginal increase in
Homebuyers are investing more money into purchasing a home, with the average down payment reported to be 13.6% in the first quarter of 2024, according to a study by Realtor.com. This is an increase from the previous year, yet it remains lower than the peak seen in the third quarter of 2023 when buyers typically
When it comes to selling a property, many Americans may find themselves facing capital gains taxes due to the increasing value of their homes. While most individuals are not required to pay taxes on the profits made from selling their primary residence thanks to the Section 121 exclusion, which allows for up to $250,000 for
