Existing home sales shrank in March as consumers respond to continuing price increases and rising mortgage rates. Sales for existing homes fell 4.3% in March compared to the previous month and 3.7% year-over-year, to an annual rate of 4.19 million, according to a press release from the National Association of Realtors (NAR). The average for a 30-year fixed-rate mortgage reached 7.10% this week, a substantial jump from 6.88% last week, depressing Americans’ desire to switch homes and possibly...
Buyers are highly considering newly built homes amid a shortage of available homes in the U.S. Here's what this means and where prices are standing.
A detailed planning application to finalise the design of the homes will be submitted next before building starts later this year
The New York Times did a classic the economy is awful story by highlighting the fact that 1.3 million homeowners might not be moving because of the large gap between current mortgage rates and the rate they would have to pay on a new mortgage. While this is clearly a problem, the flip side is More
A local resident said they cannot afford the basic costs of living here
“It seems increasingly likely that mortgage rates are not going to come down anytime soon,” Bright MLS chief economist Lisa Sturtevant said.
LOS ANGELES >> Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months.
Ever since mortgage interest rates jumped in 2022, some Californians have had a strategy: Buy now and, once rates drop, refinance to save hundreds of dollars each month. The idea — pushed by some real estate agents — was supposed to be a trade-off. The buyer could pick up a home in a slower market, and though interest costs would be high, they wouldn’t stay that way. The strategy may still work, but so far, high borrowing costs are here to stay. In recent weeks, rates have climbed higher,...
By Jason Powell, ProWrestling.net Editor
As part of the 2024 federal budget released last week, Ottawa said it is 'exploring new measures to expand access to alternative financing products, like halal mortgages.'
A new study showed that Louisiana is among the most affordable states to buy a home in the United States.