The latest data from CoreLogic reveals that homeowners in the United States are collectively sitting on a whopping $17 trillion in equity as of the end of the first quarter of 2024. This significant increase in homeowners’ equity represents a growth of $28,000 on average per homeowner compared to the previous year. While this substantial
Real Estate
Affordable housing has become a critical issue for many Americans, and it is gaining attention from political candidates as well. Governor Tim Walz and Senator JD Vance have both taken stances on this issue, with Walz signing housing legislation that included substantial funding for down payment assistance and housing infrastructure. On the other hand, Vance
In a surprising turn of events, mortgage interest rates reached their lowest level since May 2023. This drop sparked a significant surge in mortgage demand from both homebuyers and existing homeowners, leading to a 6.9% increase in total mortgage application volume as reported by the Mortgage Bankers Association. The average contract interest rate for 30-year
The recent decision by the Bank of England to cut interest rates for the first time in over four years has had a ripple effect on the mortgage market in the UK. Major high street lenders such as HSBC, Santander, and Nationwide have wasted no time in slashing their mortgage rates in response to the
Vice President Kamala Harris recently expressed her commitment to prioritizing the strengthening of the middle class during her potential presidency. She emphasized the crucial role that a robust middle class plays in ensuring the overall strength of the country and highlighted the importance of providing relief to families facing the high cost of living. Harris’s
The recent report on home affordability indicates a slight improvement for buyers this summer. According to data from the Mortgage Bankers Association, the median new mortgage payment in June showed a 2.4% decline from the previous month, which is a positive indicator for potential homebuyers. This improvement in affordability can be attributed to declining mortgage
The cost of homeowners insurance has seen a significant increase between May 2022 and May 2023, with prices rising by an average of 21% at the time of renewal. This surge in prices can be attributed to the rise in catastrophic severe weather events, according to experts. As insurers grapple with higher costs, they pass
Living in a major city in Asia can be quite expensive, especially in cities like Hong Kong and Singapore. According to Numbeo, the monthly rent for a city-center apartment in Shanghai can cost around $2,700. However, the costs can be even higher in financial hubs like Hong Kong and Singapore. Singapore and Hong Kong are
Vice President Kamala Harris has been a vocal advocate for affordable housing throughout her career. From her time as California’s attorney general to her tenure as a senator, Harris has championed various policies aimed at protecting homeowners and renters from unfair practices and increasing access to affordable housing options. One of her notable achievements includes
Mortgage interest rates have seen a slight decrease recently, with the average contract interest rate for 30-year fixed-rate mortgages dropping to 6.82%. Despite this decrease, potential homebuyers seem to remain hesitant about entering the market. The Mortgage Bankers Association reported that applications for mortgage purchases fell by 4% last week, contributing to a 15% decrease