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Homebuyers are staying on the sidelines as housing prices hit record levels and homebuilding and rental supply isn’t keeping up with the demand. Home prices neared their all-time high last month, eclipsing $400,000 for only the third time on record. Rising prices, mortgage rates push monthly payments to all-time high: report This is due largely to…
Prices have cooled in the once red-hot housing market, but competition is heating up between two generations in seemingly perpetual conflict. Millennials entering their prime homebuying years and baby boomers — many of whom are nearing retirement age — are vying for the same homes. A look ahead: Fed hikes and default fears: Here’s what…
Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming economic data, some stemming from the banking crisis that led to tightened lending. This could…
A new study analyzing Zillow data has found that the monthly median sale price of a house last year was over $500,000 in Utah, California and Colorado — and over a staggering $800,000 in Hawaii. The study, conducted by Studio City realtors, found that Hawaii clocked in as the most expensive state in the U.S….
“My mortgage is about to go up by at least $1,000 a month” In July 2019, my husband Brad and I moved with our three kids from Sooke, a small town 45 minutes’ drive west of Victoria, into the city itself. We wanted to be closer to our jobs—Brad is an electrician and I’m an…
“My mortgage is about to go up by at least $1,000 a month” In July 2019, my husband Brad and I moved with our three kids from Sooke, a small town 45 minutes’ drive west of Victoria, into the city itself. We wanted to be closer to our jobs—Brad is an electrician and I’m an…
5 key takeaways from the Federal Reserve’s rate hikes The Federal Reserve ramped up its battle against inflation Wednesday with another large interest rate hike amid griping that the central bank’s efforts will plunge the U.S. into a recession. The Fed boosted its baseline interest rate range by 0.75 percentage points for the fourth…
Fed’s latest hike will push up mortgage rates The Federal Reserve’s latest interest rate hike Wednesday of 0.75 percentage points is expected to intensify pressure on the housing market while pushing up mortgage rates that already have reached nearly 20-year highs. The interest hike announced Wednesday is the latest effort by the Fed to slow…