U.S. mortgage rates declined for a second straight week, hitting a two-month low while mortgage applications increased 2.2 percent for the week ending Nov. 18 from a week earlier, according to an industry association, reflecting a slight improvement in the constrained housing market. “The 30-year fixed-rate mortgage fell for the second week in a row…
Mortgage Rates Drop to 2-Month Low Sending Demand Up
November 23, 2022
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Business & Marketseconomymortgage applicationsmortgage bankers associationmortgage ratesreal estaterecessionU.S. home pricesUSUS Real Estate
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Gen Z and Younger Millennials Shelve Home Ownership
Maria Thomas and Tabor Loynd are among the millions of young Americans who question if they will ever be able to buy a home. Thomas, 29, is currently renting an apartment in the Bronx, New York, and Loynd, 23, lives in Yarmouth, Cape Cod, Massachusetts. Both are working full-time jobs and trying to save as…
Estate Tax Exemption Amount Goes Up in 2023
Every year, the IRS announces new limits on the estate tax exemption for the upcoming year. It is the amount of money people can give away without having to pay a federal estate tax. The number is primarily for rich people who have large amounts of money. The federal estate tax exemption has been raised…
Sales of Previously Owned Homes Drop for Ninth Month Straight as Mortgage Increases and Inventory Falls
November 18, 2022
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Business & Marketseconomyexisting home saleshousing affordabilityhousing sentimentinflationmortgage ratesPreviously-Owned Homesreal estaterecessionUSUS NewsUS Real Estate
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Existing-home sales declined for the ninth straight month in October, falling 5.9 percent from September, according to the National Association of Realtors (NAR), revealing the demand-dampening effects of higher interest rates amid decades-high inflation. Existing-home sales for October registered a seasonally adjusted annual rate of 4.43 million, a fall of 28.4 percent from 6.19 million in 2021….
Economic Contraction, Real Estate Slimming Down, Manpower Exodus, Hong Kong’s Economic Outlook Is Not Optimistic
The latest economic data shows Hong Kong’s economy is in trouble. Some analysts pointed out that as leading real estate agencies are starting to “slim down,” the economic outlook is not optimistic. Other analysts believe the Chinese Communist Party (CCP) will speed up its control of the Hong Kong market. Major Real Estate Agencies to Slim…
Top Wall Street Banks to Take Paper Losses of $17 Billion in Mortgage-Backed Securities
November 18, 2022
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Business & MarketsCompanieseconomyinflationjp morgan chasemortgage ratesmortgage-backed securitiesreal estateunrealized lossesUSUS NewsUS Real EstateWall StreetWells Fargo
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Rising mortgage rates are forcing big banks to write down losses on their mortgage-backed securities (MBS) amid the Federal Reserve’s tightening interest rate policy and regulations. An MBS is an investment product that bundles home loans and other real estate debts, which then are bought from the banks that issued them. Wall Street’s big four…
Hard Money Has Some Syndicators in Trouble
Commentary As of April 2022, experienced syndicators (those who raise money from investors to invest in real estate) stopped using hard money to secure deals. At the time, many investors were questioning this practice as not going hard on the money made those of us more experienced lose out on some potential cash-flowing properties. However,…
Surging Mortgage Rates Could Drive Home Prices Down 20 Percent: Dallas Fed
November 17, 2022
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Business & Marketseconomic policieseconomyhousing pricesinflationInvestmentMarketsmortgage ratespersonal financereal estateUSUS Real Estate
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Surging mortgage rates are now threatening to drive U.S. home prices down as much as 20 percent, according to a new study. Many prospective buyers have been pushed out of the market due to rising home prices and higher mortgage rates. The sharp rise in mortgage rates this year “boost the odds of a severe…
Homebuilder Sentiment Falls to Low Levels as Buyer Traffic Evaporates
November 16, 2022
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30-year mortgageBusiness & MarketseconomyHomebuilder Confidencehomebuilder sentimenthousing affordabilityinflationreal estateU.S. home salesUSUS Real Estate
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Homebuilder sentiment in newly built single-family homes dropped in November as prospective buyers shied away from making a purchase due to high costs, according to the National Association of Home Builders (NAHB). The NAHB/Wells Fargo Housing Market Index (HMI), which measures homebuilder sentiment, declined five points, to 33, and registered the 11th consecutive monthly decline,…
Roth IRA Investments to Build Wealth Over Time
November 12, 2022
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Alternative InvestmentsBrightcrowdfundingETFsinvestingInvestmentmutual fundspersonal financereal estateretirementRetirement AccountsRoth IRA
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Don’t tell my wife. But me and Roth IRA Investments—we got a thing going on. After all, it’s the greatest wealth-building tool. Roth IRAs offer one of the best ways to invest for retirement, and many experts even consider them the best retirement account. This is because you can grow your Roth IRA money tax-free…
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