In the past week, mortgage rates have remained relatively unchanged, mirroring the stagnant state of mortgage demand. This marks the second consecutive week with minimal movement in both categories. Potential buyers are facing obstacles in the form of soaring costs and limited housing supply. Meanwhile, existing homeowners find little motivation to refinance their properties amidst
Real Estate
The latest report by Zumper reveals a notable uptick in rent prices for both one- and two-bedroom apartments in March. Specifically, the average monthly cost for a one-bedroom apartment in the U.S. saw a 0.3% increase to $1,487, while a typical two-bedroom apartment experienced a 0.5% rise to $1,847. Although prices surged on a national
The spring housing market is typically a busy time for real estate, with buyers and sellers eager to make moves. However, this year, mortgage demand has hit a standstill. According to the Mortgage Bankers Association, application volume remained flat last week, dropping by a mere 0.7% compared to the previous week. This lack of movement
Federal prosecutors have taken legal action to seize two luxurious New York City apartments worth $14 million that are believed to have been purchased with funds derived from a corrupt scheme involving Mongolia’s substantial copper mine, a former prime minister, and his Harvard Business School graduate son. The lawsuit, filed in U.S. District Court in
Pacaso, a luxury vacation home co-ownership platform, is making a significant shift in its business model to make it more accessible to a wider range of consumers. Initially launched in 2020 with multimillion-dollar homes listed for co-ownership, the company is now introducing thousands of new listings with share prices starting as low as $200,000. This
Recent data suggests that the rate at which home prices are increasing is beginning to slow down. In the United States, home prices only saw a 0.6% increase from the previous month in February. This growth aligns with the average monthly gain of 0.6% that was observed for approximately eight years leading up to the
China is currently at a critical juncture, with the International Monetary Fund emphasizing the need for the country to choose between sticking to old economic policies or embracing reforms to boost growth. The IMF’s Managing Director, Kristalina Georgieva, believes that China has the potential to significantly accelerate its economic growth by implementing a comprehensive package
The legal battle between former President Donald Trump and the New York Attorney General Letitia James has taken a new turn with Eric Trump, a co-defendant in the case, accusing James of attempting to bankrupt his father with the $454 million civil business fraud judgment. Eric Trump claimed that the attorney general is trying to
Recently, Judge Arthur Engoron ordered Donald Trump’s company to inform a court-appointed financial watchdog about any attempts made to obtain an appeal bond. This decision came after Trump’s lawyers claimed the difficulty in securing such a bond for a civil business fraud case he lost. The former president is seeking to prevent New York Attorney
The National Association of Realtors reported a remarkable 9.5% surge in existing home sales in February compared to January, reaching a total of 4.38 million units on a seasonally adjusted annualized basis. This unexpected increase caught housing analysts off guard, who were actually anticipating a slight drop in sales. Despite a 3.3% decrease in year-over-year
