Westend61 | Getty As interest rates have climbed, homebuyers have been confronted with higher borrowing costs. That has led more home purchasers to opt for one strategy, purchasing mortgage points, as a way to defray higher monthly payments. Mortgage points let buyers pay an upfront fee to lower the interest rate on their loans. In
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A raft of weak Chinese economic data in May has raised hopes of decisive policy intervention. Market watchers are anticipating the next steps from China’s State Council and a Politburo meeting in July, during which the Communist Party’s top brass will review the country’s economic performance in the first half of the year. related investing
Ethan Miller | Getty Images News | Getty Images Mortgage rates are likely to remain high despite the Federal Reserve’s pause on interest rate hikes. While that may be good sign for fixed-income funds in California, the pause is a blow to affordable housing in the state, said Fiona Ma, California state treasurer, during the
A “For Sale” sign outside a house in Albany, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. Joe Raedle | Bloomberg | Getty Images Mortgage rates pulled back for the second straight week last week, and
Unfinished buildings, abandoned part way through construction, in Wuxi, China, on Tuesday, May 16, 2023. China’s economic recovery is losing momentum after an initial burst in consumer and business activity early in the year, prompting calls for more policy stimulus to bolster growth. Photographer: Qilai Shen/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images
A sign is posted in front of a home for sale on May 11, 2023 in San Francisco, California. Justin Sullivan | Getty Images Mortgage rates fell back from their recent highs, but demand fell for the fourth straight week. Total mortgage application volume dropped 1.4% last week, compared with the previous week, according to
Aerial views of new homes under construction in the Pinal County, AZ town of Florence Wednesday, Jan. 26, 2022. Brian Van Der Brug | Los Angeles Times | Getty Images Arizona will not allow new housing construction in the Phoenix area that depends on groundwater, a decision that comes as the state grapples with a
Modern and luxury smart homes in Singapore, seen from above during a hot summer day at the Keppel Bay Yacht Marina area in the city centre. Tobiasjo | E+ | Getty Images Singapore’s private homes are now the most expensive in Asia-Pacific, having overtaken Hong Kong, according to a new report. Data from the Home
Real estate agents Rosa Arrigo, center, and Elisa Rosen, right, work an open house in West Hempstead, New York. Newsday LLC | Newsday | Getty Images Mortgage rates shot higher last week, as stronger economic data stoked more fear that the Federal Reserve will not lower interest rates anytime soon. In turn, mortgage demand dropped
A potential buyer walks in to view a home for sale during an open house in Parkland, Florida on May 25, 2021. Carline Jean | Tribune News Service | Getty Images Steep competition in the housing market and low supply are heating up home prices again. Nationally, home prices in March were 0.7% higher than
Sometimes it’s hard to start over with a completely clean slate. But, with housing, that’s the opportunity and that’s what Veev’s CEO and co-founder Amit Haller did when he launched the company in 2008 and what he has continued to do every day since. Reimagining housing without the normal dictates of stakeholder operations has allowed
kali9 Young adults in the United States are taking longer to reach “key life milestones,” including financial independence from parents and living on their own, compared to four decades ago, according to a Pew Research Center analysis released on Tuesday. In 2021, adults who were 21 were less likely to have a full-time job; be
Contractors work on concrete slabs in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage crossed over 7% on Tuesday, according to Mortgage News Daily. That is the highest
Investors looking at development opportunities may face obstacles this year as speculation about a recession looms and interest rates rise. The market uncertainty and shifting demand could cause extensive delays or abandoned developments. Property developers, who are the parties that oversee the project, will need to make tough decisions ahead. If you’re thinking about investing
Prospective buyers attend an open house at a home for sale in Larchmont, New York, US, on Sunday, Jan. 22, 2023. Tiffany Hagler-Geard | Bloomberg | Getty Images Sales of previously owned homes fell 3.4% in April from March to a seasonally adjusted, annualized pace of 4.28 million units, according to the National Association of
A default on the nation’s debt, if Congress is unable to raise the federal debt ceiling in coming weeks, would boost mortgage rates by at least two percentage points and cause a slump in home sales as costlier financing puts real estate beyond the reach of more Americans, according to Jeff Tucker, a Zillow senior
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. Joe Raedle | Getty Images Higher mortgage rates and a severe shortage of homes for sale are taking their toll on mortgage demand. Mortgage applications to purchase a home dropped 4.8% last week, compared with the previous week,
A former equestrian property in Westport, Connecticut, comes with a main house and separate cottage, plus a converted barn on subdivided acreage. The 4.54-acre estate in Westport’s Old Hill section was once part of a larger equestrian property. Along with a four-bedroom, 5 1/2-bathroom main house, there is a two-bedroom cottage and a 1,200-square-foot barn
A display for a realtor with Coldwell Banker Dynasty TC, left, is displayed as she speaks with a potential homebuyer during an open house in Arcadia, California. Jonathan Alcorn | Bloomberg | Getty Images Mortgage rates fell slightly last week after the chairman of the Federal Reserve suggested a potential end to a historic string
Amid rising interest rates, inflation concerns, and lifestyle trends that are generating a paradigm shift across the country, many investors are viewing the commercial real estate market with hesitancy. In March, the Federal Reserve increased the interest rate on reserve balances to 4.9%, making it more expensive for those taking out a loan to borrow