With the 2024 election season in full swing, all eyes are on the candidates as they unveil their personal finance policies that could have a direct impact on the wallets of American voters. Vice President Kamala Harris recently announced her running mate, Minnesota Gov. Tim Walz, while former President Donald Trump selected Sen. JD Vance
Real Estate
The recent decrease in mortgage interest rates has sparked a surge in demand for mortgages, both from homebuyers and current homeowners looking to refinance. Mortgage application volume rose significantly last week, reaching the highest level since the start of the year. The average contract interest rate for 30-year fixed-rate mortgages also dropped to a new
In the wake of record inflation rates, homeowners are facing significant challenges that have many questioning the value of homeownership as an investment. The steady increase in home prices, outpacing income growth, has become a major concern for homeowners. A startling statistic from a 2023 analysis by the Chamber of Commerce reveals that more than
The recent decrease in mortgage rates has been significant, with the average rate on the 30-year fixed mortgage dropping to 6.4%, the lowest it has been since April 2023. This drop was in response to a weaker-than-expected monthly employment report, which caused bond yields to fall rapidly. The 15-year fixed rate also fell to 5.89%,
Recently, major high street lenders in Britain have started reducing their mortgage rates, signaling a potential easing of financial pressure on households. This move comes shortly after the Bank of England decided to lower its Bank Rate to 5% from a 16-year high of 5.25%. Lenders such as HSBC, Santander, and Nationwide have already cut
Vice President Kamala Harris recently expressed that building up the middle class will be a crucial focus of her presidency. She emphasized that a strong middle class translates to a strong America. Harris believes that families need relief from the high cost of living to not only survive but thrive. Her proposed policy, the “LIFT
The summer season has brought some good news for potential buyers in the housing market. Recent data indicates that there has been a slight improvement in home affordability, with the median new mortgage payment dropping to $2,167 in June from $2,219 in May. This decrease in the index demonstrates an enhancement in borrower affordability, which
As the Federal Reserve is poised to make the first interest rate cut in years this fall, the anticipation is high amongst those in the market for a new home. While there is a less than 6% chance of a rate cut in the upcoming Federal Open Market Committee meeting, experts predict a much greater
As consumers gear up to renew their homeowners insurance policies, they are met with a significant increase in prices. Between May 2022 and May 2023, home insurance prices surged by an average of 21% during renewal. This spike can be attributed to a rise in catastrophic severe weather events, leading experts to predict that the
Living in a major city in Asia can come with a hefty price tag, especially in cities like Hong Kong and Singapore. According to data from Numbeo, the monthly rent in Shanghai’s city-center can cost approximately $2,700. However, in Hong Kong and Singapore, a family of four can expect to spend an estimated $9,000 a