More than 10 million people across the United States aged 65 and older are still paying off their home mortgages, even into retirement years, a new report from Lending Tree indicates. Lending Tree, an online loan marketplace for mortgages, small businesses, and other loans, analyzed the latest U.S. Census Bureau data to review the share…
Over 10 Million Seniors Still Saddled With Monthly Mortgage Payments: Report
Homebuilder Sentiment Drops for 12 Months in a Row to Lowest in Decade
December 21, 2022
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Business & MarketseconomyFederal Reservehomebuilder sentimentinflationmortgagereal estaterecessionUSUS NewsUS Real Estate
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Homebuilder sentiment has dropped every month in 2022, amid a volatile economy, reaching the lowest level since 2012 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) published on Dec. 19. The decline comes as inflation remains elevated and mortgage rates, driven by the Federal Reserve’s aggressive monetary tightening…
When Student Debt Comes Home to Roost and Fast Track Mortgage Payoff
Dear Mary: Several years ago I decided to become a medical transcriptionist. I had no knowledge how school loans work and signed a student loan from Sallie Mae for $7,000 with a 12-month deferment on payments. It took 15 months to finish school, so my payments started before finishing. I am still paying $134 a…
A Financial Vulnerability
November 11, 2022
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Business & MarketsBusiness ColumnistsFannie MaeFreddie MacmortgageOpinionrecessionThinking About China
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Commentary Financial fears have grown as interest rates have risen and the shadow of recession has lengthened. Most worrying are what might be termed undefined risks. Declines in stock and bond market values, though troubling, are nonetheless quantifiable and well-defined. In contrast are the kinds of vague risks introduced by Washington’s mortgage giants, the Federal…
Americans Abandon Housing Hopes Amid Crushing Costs
The U.S. real estate market has begun to cool after two years of torrid growth, but soaring mortgage rates, punishing rents, and a shortage of available homes continue to thwart Americans on the hunt for affordable housing. The latest bad news for would-be homebuyers came on Wednesday, when the Federal Reserve approved another major hike…
Multiple Chinese Cities Cut Mortgage Rates to Spur Buyers Amid Economic Downturns
A number of Chinese cities recently cut interest rates on personal first suite commercial loans and housing fund loans to boost the home buying market. However, property analysts say that China’s economy is in decline, and market confidence will not be restored by cutting interest rates alone. Starting on Oct. 14, several banks in Tianjin…
Goldman Sachs Analysts Expect Housing Market to Deteriorate Further as Rate Hikes Are Not Fully Felt
October 25, 2022
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Business & Marketseconomic policieseconomyhomebuilder sentimenthousing marketinflationmortgagereal estateUSUS Real Estate
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Goldman Sachs analysts have warned that the already weak housing market may face further trouble, as the effect of high mortgage rates has yet to be fully felt. The analysts say that the housing market is expected to slide in the coming months, as existing homes sales data for September failed to fully capture the…
US Home Prices Slowed in August at Fastest Pace on Record: Report
U.S. home price increases in August slowed at the fastest pace on record amid surging mortgage rates, according to a new report. Prices climbed 13.0 percent nationally in August as compared with the previous year, or down from 15.6 percent in July, according to the S&P CoreLogic Case-Shiller index. It noted that it’s the largest deceleration…
Mortgage Market on Red Alert
October 10, 2022
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Business & MarketsBusiness Columnistseconomyinterest rateMarketsmortgageOpinionreal estateUSUS NewsUS Real EstateViewpoints
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Commentary The financial markets are fragile right now. And there’s no better illustration of this than the multiple layers of issues plaguing the U.S. mortgage market. To U.S. consumers, the mortgage interest rate is probably the most direct translation of the Federal Reserve’s interest-rate moves. More than 50 million Americans have a mortgage, and a…
Millennial: You Nixed Your Home-buying Plan. What Now?
Millennials are in peak nesting mode. We want the outdoor space many apartments lack, or the room to grow that a starter house doesn’t offer. There’s just a not-so-small problem. The median existing home sales price of U.S. homes was $389,500 in August, according to the National Association of Realtors. That’s a 7.7 percent increase…
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