In recent months, the S&P CoreLogic Case-Shiller U.S. National Home Price Index has reported that home prices have reached the highest level ever, despite mortgage interest rates on the rise. On a three-month running average ending in June, prices nationally were 5.4% higher than in June 2023. This increase is a record high for the
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With the Federal Reserve expected to reduce interest rates in September, another significant change could be looming at the end of the month. The National Flood Insurance Program (NFIP) is set to expire on September 30th, which may create temporary challenges for individuals looking to buy or sell a home, or refinance an existing mortgage.
In the period between August 2014 and August 2024, the shareholder returns for top homebuilders D.R. Horton and Lennar exceeded those of the broader S&P 500. Despite this initial success, analysts recently downgraded the investment outlook for both companies. This shift in sentiment has raised concerns among investors about the future performance of the industry.
In July, closed sales of previously owned homes rose by 1.3% compared to the previous month. Although this marked the first gain in five months, sales were still 2.5% lower than the same time last year. The Northeast saw the biggest gains in sales, with the Midwest staying relatively flat. Prices also increased the most
Homeownership has long been viewed as a symbol of stability, wealth creation, and community investment in the United States. However, the dream of owning a home is becoming increasingly unattainable for many Americans, especially younger generations and first-time buyers. Factors such as rising home prices, stagnant wages, and strict mortgage terms have created barriers to
In the wake of the Bank of England’s first interest rate cut in four years, Britain’s biggest high street lenders have taken swift action to slash borrowing costs. This move was triggered by a surge in homebuyer activity following the rate cut, with lenders such as Barclays, Halifax, HSBC, and NatWest now offering five-year fixed
While Jim Cramer’s analysis of Lowe’s acknowledged the company’s beat on earnings, he failed to address the concerning miss on revenues and the cut in full-year outlook. Cramer’s belief that the stock’s performance is tied to the Federal Reserve and the Jackson Hole meeting overlooks the company-specific issues that could be impacting Lowe’s stock price.
Kamala Harris has proposed an ambitious plan to address the growing housing affordability crisis in the United States. With the goal of constructing 3 million new housing units over the next four years, Harris aims to improve affordability for both renters and first-time buyers. This initiative has been lauded by housing experts as a step
The ongoing construction boom in the United States has had some unexpected positive effects on renters across the country. Since the start of the pandemic, there has been a surge in construction activity, resulting in a significant increase in the number of empty units available for rent. This surplus of inventory has forced landlords to
Homeowners across the United States are currently sitting on $17 trillion in equity, as reported by CoreLogic. This means that the average homeowner gained $28,000 in equity compared to the previous year. According to Greg McBride, chief financial analyst at Bankrate, home equity is not like bread – it won’t go stale if it just