The recent decrease in mortgage rates was not enough to sustain the momentum of refinance applications, which dropped by 15% compared to the previous week. However, there was still a significant increase in volume, with a 90% rise from the same week last year. This surge in demand over the past four weeks can be
Real Estate
The recent interest rate cut by the Bank of England has sparked a flurry of activity in the UK mortgage market. Major lenders such as Barclays, Halifax, HSBC, and NatWest are now offering five-year fixed-rate mortgages at rates below 4%, which is lower than the BOE’s key rate of 5%. This aggressive rate-cutting strategy is
In July, the inflation rate in the United States continued to decrease, with the consumer price index (CPI) rising by 2.9% from a year ago. This marks a significant drop from the 3% inflation rate in June and is the lowest reading since March 2021. The CPI tracks the rate at which prices are changing
The construction boom in the United States has brought about a significant increase in construction activity post-pandemic. This surge in construction has led to a surplus of empty rental units, resulting in a higher inventory available for renters. Due to this surplus, landlords are now offering rent concessions as incentives to attract new tenants. These
Homeowners are currently holding onto a massive $17 trillion in equity, with the average homeowner seeing a gain of $28,000 compared to the previous year. According to experts like Greg McBride from Bankrate, home equity is a valuable asset that won’t lose its value by simply keeping it untouched. While it’s generally advised to leave
With the upcoming election, voters are anxious to understand the personal finance policies of the presidential candidates, Vice President Kamala Harris and former President Donald Trump. There is a clear divide in their approaches to economic issues, and this article aims to dissect and analyze their stances on key financial matters. Both Kamala Harris and
The recent drop in mortgage interest rates to the lowest level since May 2023 has caused a significant surge in mortgage demand from both homebuyers and current homeowners. According to the Mortgage Bankers Association, total mortgage application volume rose 6.9% last week compared to the previous week. This increase in volume was the highest level
In today’s economic climate, with record inflation rates, many potential homeowners are questioning whether investing in a home is still a sound financial decision. The increasing disparity between home prices and incomes poses a significant challenge for individuals looking to purchase a home. According to a recent analysis by the U.S. Census Bureau, more than