U.S. mortgage rates are tumbling even after the Federal Reserve hiked its benchmark interest rate by 75 basis points last week.
The residential real estate market has stumbled, after soaring in the first 18 months of the covid pandemic.
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Households that make over $200,000 annually comprise just a sliver of all tax returns that are filed in a given year, but their movement between states can have a significant financial impact. When a state loses more high-earning tax filers than it gains in a given year, tax revenues may decline and the state’s fiscal situation may worsen. That’s why despite making up less than 7% of total tax returns filed across the 50 states and the District of Columbia in 2020, the migration patterns of high-earning households continue to make headlines.
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The massive beat in the payrolls print has removed any hopes of a Fed Pivot and sent rate-hike expectations soaring…
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The U.S. labor market remained red-hot in July despite expectations job growth would cool as tighter monetary conditions and company layoffs stoked fears of a recession.
More than two years after the virus pandemic upended the world of work, signs of distress in commercial real estate markets are emerging. The world is transitioning from an artificial landscape of ultra-accommodative monetary and fiscal stimuli that inflated returns to an environment where the federal government and the Federal Reserve tighten financial conditions.
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Rising mortgage rates and inflation in the wider economy caused housing demand to drop sharply in June, forcing home prices to cool down.
Newsfeed: Home prices cooled at a record pace in June, according to housing data firm Read More »
Depending on where you live, owning a home may seem like a far off dream or it could be fairly realistic. In New York City, for example, a person needs to be making at least six figures to buy a home, but in Cleveland you could do it with just over $45,000 a year.
Newsfeed: Mapped: The Salary You Need to Buy a Home in 50 U.S. Cities Read More »
Existing home sales showed a 5.4% decline in June from May, but prices remain elevated, according to the National Association of Realtors. The median sale price of existing homes in the U.S. set a new record high of $416,000 in June, marking a 13.4% increase from a year ago.
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower.
Newsfeed: Mortgage rates fall sharply after negative GDP report and Fed’s latest hike Read More »