First time homebuyers have to make 13% more compared to a year ago: report
Purchasing a home for the first time will require those hoping to do so to have higher earnings compared to last year, Redfin said in a report released Friday.
Chicago considers controversial tax hike on property sales over $1M to fund homeless housing
Chicago's City Council is considering raising the tax rate on real estate for properties worth more than $1 million to fund housing units for homeless people.
Today's lowest mortgage rate? 10-year terms at 5.875% | July 28, 2023
Check out the mortgage rates for July 28, 2023, which are mixed from yesterday.
Mortgage rates increase as home price growth slows
The average 30-year fixed-rate mortgage rate was 6.81% for the week ending July 27, 2023, Freddie Mac reported. That’s an increase from last week’s 6.78% rate. The news comes following the Fed’s decision to increase interest rates again to slow inflation.
Home prices see sharpest rise since November even with lackluster demand
Home prices climbed in recent weeks and faced their sharpest increase since November, according to Redfin. This comes despite lackluster buyer demand.
Looking to save with today’s mortgage rates? Try shorter terms | July 27, 2023
Check out the mortgage purchase rates for July 27, 2023, which are largely unchanged from yesterday.
Luxury San Francisco, Seattle homes see biggest price drops
Luxury homes in certain coastal markets have seen the biggest drops in the nation. San Francisco is leading the pack with prices falling 12.7% year over year in the second quarter.
Real estate market is going ‘sideways’: Mitch Roschelle
Macro Trends Advisors founding partner Mitch Roschelle joined ‘Varney & Co.’ to discuss June’s new home sales data and its expected impact on the U.S. economy.
Today’s lowest mortgage rates? Shorter terms hold the biggest savings | July 26, 2023
Check out the mortgage purchase rates for July 26, 2023, which are largely unchanged from yesterday.
New home sales decline for first time since February
Sales of new U.S. homes tumbled in June for the first time in four months as steep prices and rising mortgage rates boxed out many would-be homebuyers.
Promises, former rehab center to Hollywood stars, on market for nearly $20 million
Former celebrity rehab center Promises Malibu is on the market for the first time for $19.95 million. The property includes three private homes with 12 bedrooms and 10 baths.
Duke's Campbell Harvey warns of the 'zombification' of banks: 'Something is wrong'
Duke University finance professor Campbell Harvey discusses whether more Fed's rate increases will trigger additional bank failures on 'The Claman Countdown.'
US housing market needs 'a break': Redfin CEO Glenn Kelman
Redfin CEO Glenn Kelman says it's hard to fault the Fed for 'overdoing' rate hikes when there are other 'persistent' sources of inflation.
Looking for today’s best mortgage rate? Consider short-term loans | July 25, 2023
Check out the mortgage purchase rates for July 25, 2023, which are largely unchanged from yesterday.
Annual median home prices decline for first time in years: Report
Median home prices dropped year-over-year in June for the first time in years, Realtor.com reported. But low inventory and other factors have contributed to a hot housing market.
Home prices rose for 4th straight month in May
Home prices climbed for the fourth straight month in May despite high mortgage rates, according to the S&P CoreLogic Case-Shiller index released Tuesday.
Today’s lowest mortgage rate? 10-year terms lower back down to 5.625% | July 24, 2023
Check out the mortgage purchase rates for July 24, 2023, which are mixed from Friday.
High mortgage rates will weigh on the housing market for years
The U.S. housing market could take years to recover from the recent spike in mortgage rates, with property prices expected to fall at least 2.4% next year.
Today’s best mortgage deal? Shorter terms hold the biggest savings | July 21, 2023
Check out the mortgage purchase rates for July 21, 2023, which are largely unchanged from yesterday.
Mortgage rates drop in response to easing inflation: Freddie Mac
The average 30-year fixed-rate mortgage decreased to 6.78% for the week ending July 20, according to Freddie Mac's latest Primary Mortgage Market Survey.