Consumers renewing their homeowners insurance policies in recent years have likely noticed a significant increase in premiums. According to Policygenius, home insurance prices surged by an average of 21% between May 2022 and May 2023. This sharp rise can be attributed to a spike in catastrophic severe weather events, leading to higher costs for insurers.
Real Estate
Living in a major city in Asia can be quite expensive, especially when it comes to monthly rent. According to data from Numbeo, the cost of renting an apartment in Shanghai’s city-center can reach approximately $2,700. This high cost of housing is just one aspect of the overall expensive lifestyle in major Asian cities. Hong
As Vice President Kamala Harris emerges as a frontrunner for the Democratic presidential nomination, her dedication to affordable housing policies is increasingly under the spotlight. Throughout her career, Harris has been a vocal advocate for ensuring that every American has access to affordable housing options. From her time as attorney general for California to her
As of last week, mortgage interest rates saw a slight decrease, with the average contract rate for 30-year fixed-rate mortgages dropping to 6.82%. Despite this decrease, potential homebuyers are still hesitant to make a move, as purchase applications dropped by 4% compared to the previous week. The Mortgage Bankers Association reported that purchase demand is
The National Association of Realtors reported a 5.4% drop in sales of previously owned homes in June compared to May, with 3.89 million units sold on a seasonally adjusted, annualized basis. This represents a 5.4% decrease from the same period last year, marking the slowest sales pace since December. These closed sales are reflective of
Are you considering buying a home in the near future? It’s important to assess your financial readiness before taking the leap. According to recent analysis by Zillow, millions of renter households in 2022 would have been able to buy a home that year. However, many renters may not even realize that they are in a
The recent drop in mortgage rates to the lowest level since March has sparked a surge in demand for refinancing. According to the Mortgage Bankers Association, applications to refinance a home loan jumped by 15% last week compared to the previous week. This increase in demand pushed refinancing activity to its highest level since August
Housing affordability is about average in The First State, but your Delaware housing dollar gets a big boost from very low property taxes. Delaware homeowners paid an effective tax rate of less than half a percent, according to real estate data firm ATTOM. That is the fourth-lowest in the country. The state has an Economy
The senior housing sector is poised for significant growth as the American population continues to age. As baby boomers, born between 1946 and 1964, reach retirement age, the demand for senior housing is expected to increase. Bank of America analyst Joshua Dennerlein believes that the industry is on track for a recovery, with senior housing
In recent years, the housing market has undergone significant changes, particularly in terms of mortgage rates. The 30-year mortgage rate, a common option for home buyers, has been a key factor in shaping the market. With rates hovering around 7%, which is significantly higher than the sub-3% rates seen in the early days of the