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
Real Estate
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
The latest reports indicate a decrease in the number of homeowners taking on remodeling projects in recent times. However, this decline should not be misconstrued as a symptom of a sluggish market. According to the Leading Indicator of Remodeling Activity (LIRA), a metric that forecasts spending on home improvements and repairs for owner-occupied homes, the
When Americans consider purchasing property abroad, there are multiple financial factors to keep in mind. Financing options for homes overseas may differ from those in the U.S., often involving cash outright transactions. If financing is sought, it is crucial to assess the potential exposure to fluctuating interest rates, which are common in foreign countries. Fixed-rate
Recent data shows that mortgage rates have been on a rollercoaster ride, with significant increases since the beginning of the year. However, there was a slight dip in rates last week after several weeks of consecutive hikes. This shift in rates has sparked new demand in the market, particularly for refinances. Factors Influencing Rates The
In the realm of mortgage options, the 30-year fixed-rate mortgage stands out as a uniquely American creation. This type of mortgage allows borrowers to spread out their repayment over three decades, with the interest rate staying constant throughout the life of the loan. As Greg McBride, chief financial analyst for Bankrate, points out, this stability
The dream of owning a home in the United States seems to be slipping further away for renters, as highlighted by a recent survey conducted by the New York Federal Reserve. The survey revealed that only 13.4% of renters in February expressed hopes of achieving “residential mobility” and being able to afford their own home
Renting a place in a major city can be a significant financial decision, especially considering the high price tags associated with city living. Financial experts generally advise spending no more than 30% of your pre-tax income on rent. According to data compiled by the Global Property Guide in April, the median rental prices for 1-bedroom