During inflationary times, real estate can act like a hedge against inflation. It can also provide some stability if a recession turns to stagnation. But remember, even when inflation is roaring, people still need housing. It’s common knowledge that a mortgage’s interest can be deducted on a primary residence. But what about rental property? What…
Mortgage Refinancing Hits 22-Year Low as 30-Year Mortgage Rates Rise Above 7 Percent
September 28, 2022
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Mortgage rates jumped again last week after the Federal Reserve reaffirmed its aggressive policy to raise interest rates to fight inflation. The average interest rate for a 30-year fixed-rate mortgages for conforming loan balances rose to 6.52 percent from 6.25 percent. Points increased from 0.71 to 1.15, including the origination fee, for 80 percent of…
Mortgage Refinancing Hits 22-Year Low as 30-Year Mortgage Rates Seen Rising Above 7 Percent
September 28, 2022
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30-year mortgageBusiness & Marketseconomic policieseconomyhousing marketinflationMarketsmortgage ratespersonal financereal estaterecessionUSUS Real Estate
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Mortgage rates jumped again last week after the Federal Reserve reaffirmed its aggressive policy to raise interest rates to fight inflation. The average interest rate for a 30-year fixed-rate mortgages for conforming loan balances rose to 6.52 percent from 6.25 percent. Points increased from 0.71 to 1.15, including the origination fee, for 80 percent of…
The Cause and Effect of Post-Contract Home Inspections
Dear Monty: We are first-time homebuyers. We asked the seller for a credit when the home inspection revealed several defects. They refused. Our agent thought we should let them handle it. The sellers agreed to make multiple repairs and remove mold. They also agreed to a new furnace and compressor. The sellers used handymen and…
China’s Xi Intensifies Anti-Corruption Purge Ahead of the Crucial 20th Party Congress
Commentary Xi Jinping’s anti-corruption campaign targeting the real estate and banking sectors could be compensation for his failure to make good on campaign promises. Nearly 5 million people—including Chinese Communist Party (CCP) officials, entrepreneurs, and ordinary citizens—have been caught in Xi’s anti-corruption probes. Xi rose to power through his anti-corruption campaign, which began in 2012….
Home Prices Cooled Down at Fastest Pace in ‘History of the Index’
September 27, 2022
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Business & Marketseconomyhigh inflationhome prices fallinflationinterest rate hikeMarketsmortgage ratesreal estateU.S. housing marketUSUS Real Estate
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U.S. home prices decelerated at a record pace in July, despite remaining elevated compared to a year back, according to S&P Dow Jones Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, registered a 15.8 percent gain in July 2022 compared with July 2021, a Sept….
Australian Unit Values Falling at Fastest Rate in 40 Years: CoreLogic
September 27, 2022
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The value of units across Australia’s capital cities is falling at a faster rate than what was seen during the onset of the Global Financial Crisis (GFC), according to property researcher CoreLogic. Since its peak in April, units in capital cities have fallen around 2.7 percent, or around $17,500 (US$13,000). In August alone, capital city…
NSW Refusing to Play Ball on Queensland’s Contentious Extra-Territorial Land Tax
September 27, 2022
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AustraliaBusiness & MarketsCameron DickDavid CrisafulliDominic Perrotteteconomic policiesGlobal Real EstateInternationalLand Taxpersonal financeQueenslandreal estateWorld
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New South Wales Premier Dominic Perrottet has ruled out cooperating with Queensland state authorities to help roll out its contentious extra-territorial land tax. In a nation first, the Queensland Labor government’s proposal will calculate the amount of land tax owed by an investor based on their total property holdings across the country, instead of what…
Real Estate Industry Leaders Forecast Gloomy 2023
While peering through an imaginary crystal ball, real estate industry leaders are forecasting cloudy skies for the residential market of early 2023. At a recent webinar hosted by the Hudson Gateway Association of Realtors in the New York metropolitan area, a National Association of Realtors (NAR) economist, along with panel of expert brokers, weighed in…
Furnish Your New Place on a Budget
Moving season is almost over. But if you’re one of the many people settling into a new home right now, you might feel like the furniture-buying season is just getting started. And that can get expensive. After paying rent, a security deposit or mortgage down payment—plus all the costs associated with moving—furniture can come as…
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