Last week, mortgage interest rates reached the highest level since early May, causing a decline in mortgage demand for the second consecutive week. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume dropped by 5.2% compared to the previous week. This decrease can be attributed to the average contract interest rate
Real Estate
The debate surrounding the impact of real estate investors on the housing market has been ongoing for quite some time. Many consumers tend to blame private equity and investor activity for soaring housing prices, suggesting that they are hindering individuals from becoming homeowners. However, a closer look at the data reveals a different story that
When Paul Lester first organized an art opening in a luxury property viewing in Beverly Hills, he didn’t realize the impact it would have on the sale of the property. By showcasing significant artwork by contemporary artists alongside designer furniture in the high-end properties he was listing, Lester was able to create an elevated package
Recent data from the National Association of Realtors revealed a significant 7.7% drop in signed sales contracts on existing homes in April, compared to the previous month. This decline marks the slowest pace since April 2020 and suggests a challenging market environment for buyers and sellers alike. Pending sales, which serve as a leading indicator
The recent increase in mortgage rates has impacted the demand for mortgages significantly. After a slight decrease during May, mortgage rates have started to rise again. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances has increased, leading to a decrease in mortgage demand. In fact, total mortgage application volume fell
Grant Cardone, a multimillionaire who has been collecting art for around 15 years, describes himself as a spontaneous buyer with a keen eye for pieces that catch his attention. According to Cardone, he doesn’t consider himself a connoisseur but rather someone who buys what he likes without worrying about the artist behind it. His art
The dream of owning a home is within reach for many, but the road to homeownership is not without its challenges. Recent surveys have revealed that a substantial number of aspiring homeowners have started saving for a down payment, with the majority planning to put down less than 20%. This goes against the conventional belief
The sales of newly built homes saw a significant decline in April, dropping by 4.7% compared to March, and falling even further by 7.7% from the previous year. This decline can be attributed to a variety of factors, with one of the main reasons being the impact of higher mortgage rates on the market. The
Recent data shows that mortgage interest rates have decreased for the third consecutive week, leading to a surge in demand for refinances. The Mortgage Bankers Association reported a 1.9% increase in total mortgage application volume compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages also saw a decrease, making refinancing
China’s recent efforts to support the real estate sector are being viewed with cautious optimism by analysts who believe that the impact of these measures may take some time to materialize. Despite the government’s comprehensive policy rollout, the property market is still perceived as being in a state of flux, with stability remaining elusive. The