Despite mortgage rates falling for the fourth consecutive week, there seems to be minimal impact on both current homeowners and potential homebuyers. The Mortgage Bankers Association reported only a slight 0.5% increase in mortgage application volume from the previous week. This lackluster response indicates that the decrease in mortgage rates may not be as enticing
Real Estate
The housing market in the United States continues to show strength, with home prices reaching record highs despite the recent rise in mortgage interest rates. According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, prices nationally were 5.4% higher in June compared to the same period in 2023. This represents a significant increase,
Consumers looking to purchase or sell a home may face challenges in the coming months as the National Flood Insurance Program (NFIP) is set to expire on September 30. While the Federal Reserve is poised to cut interest rates in September, the reauthorization of the NFIP is crucial for those in flood-prone areas. Homeowners insurance
Shareholder returns for top homebuilders D.R. Horton and Lennar significantly outpaced the broader S&P 500 index between August 2014 and August 2024. This strong performance reflects the resilience and attractiveness of the homebuilding sector to investors. However, recent downgrades in the investment outlook of both companies this summer have raised concerns among analysts about the
In July, closed sales of previously owned homes experienced a 1.3% increase compared to June, resulting in a seasonally adjusted, annualized rate of 3.95 million units. This marked the first rise in sales after five months of decline. Despite this improvement, sales were still 2.5% lower than the same period last year. The Northeast saw
Recent data shows that major high street lenders in the UK are cutting their borrowing costs following the Bank of England’s first interest rate cut in four years. This has led to a significant decrease in five-year fixed rate mortgages, with rates now dropping below the BOE’s key rate of 5%. For instance, buyers with
The affordable housing crisis in the United States has been a longstanding issue that has affected millions of individuals and families across the nation. Vice President Kamala Harris recently unveiled a comprehensive economic policy that focuses on tackling this crisis by making it more affordable for Americans to own and rent homes. Harris emphasized the
In the rapid-fire analysis by Jim Cramer, he highlighted Lowe’s beating on earnings but missing on revenues. The company also cut its full-year outlook, causing shares to turn negative. Cramer attributed the stock’s performance to concerns related to the Federal Reserve and the Jackson Hole meeting. Lowe’s expressed a need for improved housing conditions and
The concept of homeownership has long been synonymous with the American Dream, symbolizing stability, wealth accumulation, and community investment. However, for many Americans, particularly younger generations and first-time buyers, this dream is becoming increasingly out of reach. Rising home prices, stagnant incomes, and strict mortgage conditions have made it challenging to take that crucial step
The construction boom in the U.S. has led to a surge in record-construction activity post-pandemic, resulting in a higher supply of empty units available for renters. This increase in inventory has benefited renters by leading to lower rents, as landlords are now offering rent concessions to attract new tenants. According to Zillow Group, an online