Vice President Kamala Harris has been a strong advocate for affordable housing throughout her career, encompassing her time as attorney general for California to her current role in the Biden administration. Harris has been involved in various housing policy initiatives, such as the California Homeowner Bill of Rights and introducing the Rent Relief Act in
Real Estate
Despite a slight decrease in mortgage interest rates last week, the average contract interest rate for 30-year fixed-rate mortgages remains relatively high at 6.82%. This decrease from 6.87%, while promising, has not been enough to entice potential homebuyers off the fence. With points increasing to 0.59 from 0.57 for loans with a 20% down payment,
As reported by the National Association of Realtors, sales of previously owned homes took a hit in June, dropping by 5.4% compared to May, with 3.89 million units sold on a seasonally adjusted, annualized basis. This also represents a 5.4% decline from sales in June of the previous year. The decrease in sales indicates a
Many renters may not realize that they are financially capable of purchasing a home. In 2022, 39% of families in the U.S. were renters, with approximately 7.9 million of those families deemed “income mortgage-ready,” according to Zillow. This means that these families could have comfortably paid a mortgage payment that accounts for 30% or less
Housing constitutes a significant expense for consumers in the United States, yet high rents and home prices are not the only obstacles preventing potential homebuyers from saving money. Another major roadblock is access to affordable credit. An alarming statistic reveals that approximately 50 million Americans are considered “credit invisible,” as reported by the Office of
In the past week, mortgage rates hit the lowest level since March, leading to a significant increase in demand for refinancing. Applications to refinance a home loan rose by 15%, reaching the highest level since August 2022. This surge in demand was 37% higher compared to the same week last year, despite mortgage rates remaining
Affordability in Delaware gets a boost from very low property taxes, making it attractive to potential homebuyers. Despite average housing prices, the effective property tax rate is one of the lowest in the country at less than half a percent. This makes Delaware a good option for those looking for a high return on investment.
Recent signs of easing inflation have opened the door for the Federal Reserve to potentially cut interest rates in the near future. Key inflation indicators, such as the consumer price index, have shown a decline, giving the Fed more room to maneuver. This is good news for consumers who have been experiencing high borrowing costs
The current state of the housing market is vastly different from what we saw just a few years ago. One of the key factors influencing this shift is the 30-year mortgage rate. Home buyers relying on financing options heavily depend on this rate to determine their borrowing costs. While the rate has cooled slightly from
As China gears up for the much-anticipated Third Plenum, analysts are expecting a shift in focus towards areas beyond the real estate market. While the country’s real estate issues loom large, the upcoming policy meeting is anticipated to concentrate on high local government debt levels and a drive for advanced manufacturing. According to Larry Hu,