Mortgage applications in the United States fell for the sixth straight week as mortgage rates rose to a 12-year high, causing home purchases and refinancing applications to fall, according to the latest survey by the Mortgage Bankers Association (MBA) on April 20. The Market Composite Index (MCI), a measure of mortgage loan application volume, showed a 5…
US Mortgage Applications Decline as Interest Rates Hit 12-Year High
April 20, 2022
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Business & Economyeconomic policieseconomyinflationmortgage applicationmortgage ratesreal estateu.s. real estateUS Real Estate
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Existing Home Sales Dip as Mortgage Rates Spike, House Prices Hit Record High
Sales of previously-owned homes in the United States fell in March as mortgage rates climbed to a 12-year high, leading mortgage refinance demand to plunge by an annual 68 percent while house prices hit a new record. Total existing-home sales fell 2.7 percent over the month and 4.5 percent over the year in March, marking the…
US Homes Are Selling Above Their Listing Price as Competition for Housing Soars
More than almost 50 percent of homes sold in the United States in March were above the initial listing price, in 20 of the nation’s top 50 metropolitan regions, according to residential real estate search group, OJO Labs, on April 19. Rising interest rates and a nationwide housing shortage are causing selling prices and mortgage rates to skyrocket…
US Home Prices Rise in March, Building Permits Increase Due to Housing Shortage
April 19, 2022
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Business & Economyeconomyhousing developmenthousing marketInvestmentMarketsreal estateu.s. real estateUSUS Real Estate
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Home construction in the United States rose in March 2022, but starts for single-family housing fell amid rising mortgage rates across the country, with residential construction marked by a severe shortage of houses. Housing starts—an indicator of the number of private homes in a given period of time on which construction has begun—increased by 0.3 percent…
New Real Estate Regulation Will Let Ontario Homebuyers See Competing Bids If the Seller Agrees
The Ontario government has introduced new real estate legislation to allow homebuyers to see all their competitors’ bids on the property, that is, if the seller agrees to disclose the information. Under the current system, a potential buyer looking to put an offer on a house has done so blindly, without knowing how much their…
New Real Estate Regulation to Let Ontario Homebuyers See Competing Bids If the Seller Agrees
The Ontario government has introduced new real estate legislation effective a year from now that would allow homebuyers to see all their competitors’ bids on the property, that is, if the seller agrees to disclose the information. Under the current system, a potential buyer looking to put an offer on a house has done so…
Rethink Avoiding Your Agent to Sell Directly to a Friend
April 19, 2022
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BrightBrokersHOMEhome buyerHome InspectioninvestingLifestylepersonal financereal estatereal estate agentsellers
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DEAR MONTY: I am selling my home through an agent, and I verbally agreed to a price from a guy who lowballed by over half the asking price. The guy is nitpicking everything and taking forever, so I have signed no papers. Now I have another offer through a personal friend. I want to know…
What Homeowners Need to Know About Property Taxes
April 18, 2022
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Brightinvestingpersonal financeproperty taxproperty tax assessproperty taxesreal estatereduce property taxtaxWealth Management
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When you purchase your first home, you become aware that you are required to pay for the privilege of owning a home. That payment comes in the form of property taxes. Property taxes are a revenue source for most local governments. Whether you live in a city, a town, a village, or a parish, you…
Home Sales Decline in March While Prices Continue to Rise
The latest report from Redfin attests to one of the most competitive housing markets on record: as housing prices rise at the fastest rate in years, prospective buyers have become less likely to invest in real estate, resulting in a diminishing rate of home sales in the past month. According to Redfin’s data, seasonally-adjusted home…
Mortgage Rates Climb to Highest Point in Over a Decade as Home Sales Tumble
April 15, 2022
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Business & Economyeconomyfalling home salesMarketsmortgage applicationmortgage ratesreal estateUSUS NewsUS Real Estate
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Mortgage rates across the United States have been steadily increasing over the past several weeks and are now approaching record high levels. Fixed-rate 30-year mortgage loan rates rose for the sixth consecutive week, rising by 28 basis points from 4.72 to 5 percent for the week ending April 14, Freddie Mac reported. This is the…
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