Average 30-year US mortgage rate tops 7%, the highest level in over 2 decades, as the Fed hikes rates to tame inflation#Average #30year #mortgage #rate #tops #highest #level #decades #Fed #hikes #rates #tame #inflation Source link
Tag: Real Estate
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How Black Landowners in the South Are Recovering Lost Generational Wealth
Piney Woods, N.C., is one of those small, quiet, rural communities you might pass on a drive up North. Blocks of lush grass, farmland, and forests are bisected by a single asphalt road; it’s not uncommon to find a tortoise or two lazing on the empty street, unafraid of potential traffic.1 These untouched stretches of...
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Jay Y. Lee Formally Becomes Samsung's Leader
The elevation in title formalizes the all-encompassing role he has played for years at South Korea’s largest business conglomerate.#Jay #Lee #Formally #Samsung039s #Leader Source link
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Mortgage rates top 7%, hitting highest level since 2001
The average interest rate on a typical 30-year mortgage surpassed 7% this week, the highest level since 2001. Mortgage rates rose from 6.94% last week to 7.16% this week, the Mortgage Bankers Association said Wednesday. The average rate on a 15-year fixed-rate mortgage grew to 6.39%, from 6.09% last week. The spike in mortgage rates...
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Texas remains a hot spot for international homebuyers, shows new report
Here’s good news for the 33 percent of Plano families who are raising children: A recent report names the Dallas suburb the No. 1 most family-friendly city in the United States. In StorageCafe.com’s recent analysis of 100 large and mid-size cities to raise a family, Plano places highest. “Plano, TX, Virginia Beach, VA and Lincoln,...
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Recovery Far From Equal on NY Shore
By BOBBY CAINA CALVAN, Associated Press NEW YORK (AP) — Even before Superstorm Sandy’s floodwaters surged over New York City’s Rockaway Peninsula, there was an air of decay in Edgemere, a far-flung seaside neighborhood long pockmarked with boarded-up homes and vacant lots with waist-high weeds. When the water receded, even more of Edgemere’s homes lay...
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Saudi Arabia pushes ahead with its sci-fi city vision
The future Site of the city Neom, a planned cross-border city, stands empty before development begins in the Tabuk Province of northwestern Saudi Arabia, December 18, 2019. Picture taken December 18, 2019. Lucas Jackson | Reuters DUBAI, United Arab Emirates — If you’ve been seeing mysterious Bladerunner-type ads popping up on your phone recently for Neom...
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Home prices are finally falling. But how low will they go?
The US housing market is in the midst of a major shift. After two years of stratospheric price appreciation, home prices have peaked and are on their way back down. But what homebuyers and homeowners alike want to know is: How much lower will prices go? The short answer: Prices are likely to drop further,...
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Mortgage rates surge to a 20-year high, leading to steep decline in home sales
The numbers: Mortgage rates have risen to the highest level in 20 years. The 30-year fixed-rate mortgage averaged 6.94% as of October 20, according to data released by Freddie Mac. That’s the highest since April 2002. Rates are up 2 basis points from the previous week — one basis point is equal to one hundredth...
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Timeshare Comes to the Office: Companies Save Money on Space by Alternating Days
Hybrid work schedules for most companies mean splitting time between remote work and time in the office. For the startup Frontier Talent Inc., it also means rotating through the same office space with another company. Frontier employees head to their San Francisco office on Mondays, Wednesdays and Thursdays. After two of those days, they pack...