Real Estate

The National Association of Realtors reported a 1.3% rise in closed sales of previously owned homes in July compared with June, marking the first increase in five months. However, sales were still down by 2.5% compared to the same time last year. The Northeast experienced the largest gains in sales, while the Midwest remained relatively

The recent decrease in mortgage rates has led to a surge in refinancing activity in the housing market. However, despite rates falling for the third consecutive week, applications to refinance a home loan dropped by 15% from the previous week. This decline may be attributed to the fact that applications were 90% higher compared to

Recent data has shown that Britain’s major high street lenders are actively reducing borrowing costs in response to the Bank of England’s first interest rate cut in four years. Banks such as Barclays, Halifax, HSBC, and NatWest are now offering five-year fixed rate mortgages below 4%, which is lower than the BOE’s key rate of

Inflation rates in July 2023 continued to decline, with the consumer price index (CPI) rising by 2.9% from a year ago, as reported by the U.S. Department of Labor. This reflects a decrease from the 3% inflation rate in June and marks the lowest reading since March 2021. The CPI serves as a crucial indicator

The recent construction boom in the U.S. has had a significant impact on the rental market. With an increase in construction activity since the pandemic, there has been a surge in the supply of empty units available for renters. This surplus has led to lower rents and other benefits for renters, as landlords are now

In the first quarter of 2024, homeowners are collectively sitting on a massive $17 trillion in equity, with the average homeowner gaining $28,000 compared to the previous year. This increase in home equity presents an opportunity for homeowners to leverage their assets for various purposes. However, it is crucial to understand the nuances of tapping

Despite the U.S. economy remaining strong amidst inflation and high interest rates, a recent survey by Affirm found that 59% of Americans believe that the country is currently in a recession. This perception is fueled by higher costs and the struggle to make ends meet, with most respondents claiming that a recession started around 15

When it comes to addressing the critical issue of affordable housing, both candidates, Tim Walz and JD Vance, have shown a commitment to tackling the problem. Walz, as the Governor of Minnesota, signed housing legislation that included significant funding for various housing-related initiatives such as down payment assistance, infrastructure improvements, and workforce housing. On the

In recent years, record inflation has led to a significant increase in home prices across the country, raising concerns about the long-term value of homeownership. As home values continue to climb, so do the costs associated with maintaining a property. According to a 2023 analysis by the Chamber of Commerce, more than 1 in 4

Recently, the average rate on the popular 30-year fixed mortgage experienced a significant drop, falling to 6.4%. This marks the lowest rate seen since April 2023. Additionally, the 15-year fixed rate also decreased to 5.89%, reaching its lowest level since early May 2023. These shifts were in response to a weaker-than-expected monthly employment report, which