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
Real Estate
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
Recent developments in the U.K. mortgage market have shown a positive trend as major high street lenders have started reducing their mortgage rates. This move comes after the Bank of England’s decision to cut interest rates for the first time in over four years, lowering its Bank Rate to 5% from its previous high of
Vice President Kamala Harris has made it clear that building up the middle class will be a crucial focus of her presidency. She believes that a strong middle class is essential for a strong America. During a political event in Atlanta, she reiterated her commitment to providing relief for families grappling with the high cost
Recent reports indicate a slight improvement in home affordability for buyers this summer. According to data from the Mortgage Bankers Association, the median new mortgage payment dropped to $2,167 in June, showing a 2.4% decline from the previous month. This improvement is attributed to declining mortgage rates, which have increased the purchasing power of homebuyers