Having an asset within your portfolio that yields passive income while also providing a hedge against inflation is an attractive dual feature for many investors. A commercial real estate investment fund (CRE) can be an excellent addition to one’s portfolio. The benefits of a CRE include portfolio diversification, liquidity, and the fact that investors will…
Mortgage Rates Jump to 14-Year High as Fed Delivers Jumbo Rate Hike
September 23, 2022
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U.S. mortgage rates spiked to record highs for the fifth straight week following the Federal Reserve’s decision to raise its key interest rate. The average interest rate on a 30-year fixed-rate mortgage was 6.29 percent for the week ended Sept. 22, according to data from the mortgage lender Freddie Mac. This is the highest level…
Sales of Previously Owned Homes Fell in August, as Prices Ease From Record Highs
September 22, 2022
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Sales of previously owned homes fell in August from July for the seventh consecutive month of decline, while prices declined from record highs. The annual rate of existing home sales fell 0.4 percent, to 4.80 million units, last month, the slowest pace since early in the pandemic in May 2020, according to the National Association of…
Fed Chair Says Housing Price ‘Correction’ Would Put Market in Better Balance
September 21, 2022
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Federal Reserve Chairman Jerome Powell said that the U.S. housing market will probably face a reset after a period of “red hot” price increases that have put home ownership out of reach for many Americans. The average contract rate for a 30-year fixed rate mortgage had already hit an historically high 6.25 percent last week…
Lessons From Ireland’s Rental Crisis
September 21, 2022
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On Aug. 1, only 716 homes were available for rent in the whole of Ireland, a country of five million people. The result? In one instance, hundreds of hopeful renters were photographed—by podcaster Conor Finn—waiting outside a property in Dublin. “Been here almost 30 mins, barely any movement, and 50+ more have joined the queue,”…
Home Prices to Fall Another 14 Percent by Spring 2023, RBC Forecasts
Home prices in Canada have yet to bottom out, with a decline of 14 percent expected in spring 2023, a Royal Bank of Canada economist says. Robert Hogue, RBC assistant chief economist, told the Toronto Star that the bank raised its previous prediction of 12 percent decline to 14 percent on Sept. 15, after the…
The Future of Home Selling Is Near
Dear Monty: You wrote an article about technology replacing real estate agents last fall. It was a view of the changes taking place in the industry from 30,000 feet. What would the process look like if we went down to ground level and envisioned a home seller’s role in the transaction? We are planning on…
Here’s How Much a New Monthly Mortgage Will Cost
For the first time since the housing crash more than a decade ago, mortgage rates have exceeded 6 percent, rising alongside the Federal Reserve’s inflation-busting tightening efforts. The 30-year fixed-rate mortgage averaged 6.02 percent for the week ending on Sept. 15, according to the new Freddie Mac Primary Mortgage Market Survey (PMMS), up from…
Homebuilder Pessimism Deepens As Housing Recession Shows ‘No Signs of Abating’: NAHB
Homebuilder pessimism has deepened as confidence in the U.S. housing market continues its downward spiral amid skyrocketing mortgage rates and inflation. Home construction businesses blame rising rates for the decline in sentiment, by making housing less affordable for first-time buyers at a time when single-family home prices are at an all-time high. Supply shortages and…
Investor Exodus and the Continued Increase of Housing Inventory
Wall street investors are selling homes at big losses into an already struggling U.S. housing market. One online company that is having difficulties due to the current housing trends is Opendoor Technologies. Opendoor is a prominent player in the selling and buying of housing inventory through an online resale process once the property has been…
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