The rate on 30-year mortgages rose to 6.67% from 6.65% last week. Borrowing costs on 15-year fixed-rate mortgages rose to 5.83% from 5.8%. NEW YORK — The average rate on a 30-year mortgage in the U.S. rose slightly for the second week in a row, a modest setback for prospective home shoppers as the spring … Read more
The Fed signaled it still expects to cut rates twice this year but now anticipates slower economic growth than it did three months ago. WASHINGTON — The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though more policymakers forecast fewer cuts. The … Read more
Single-family home starts rose 11.4% in February, driven by low existing inventory, but builders face high costs and labor shortages, the NAHB reported. WASHINGTON — Limited existing inventory helped single-family starts post a solid gain in February, but builders are still grappling with elevated construction costs stemming from tariff issues and persistent shortages related to … Read more
AI is influencing SEO so real estate pros should adapt their content strategies to focus on understanding and addressing what users seek. WASHINGTON — The introduction of artificial intelligence-generated overviews is transforming how users access information online, particularly in real estate. AI now provides strategic overviews on search result pages, pulling content from top-ranking, authoritative … Read more
NAR President Kevin Sears joins EPA chief Lee Zeldin for the announcement of the review and a promise of “clear and simplified direction” for landowners. WASHINGTON — The U.S. Environmental Protection Agency’s announcement Wednesday that it will simplify the definition of the Waters of the United States rule (WOTUS) is a win for property owners, … Read more
This year will see IoT, digital twins and AI reshape real estate. These technologies will improve home design, predict trends and create smarter, more efficient homes. CHICACO — Let’s be honest, 2024 felt like a roller-coaster ride for the real estate industry. At its peak, we saw home prices soar; but chronically low market inventory … Read more
When raccoons damage cars in a condo parking lot, owners are usually responsible, but the association may share some responsibility. FORT LAUDERDALE, Fla. — Question: I live in a great condo community, but recently we have experienced raccoons getting inside the engine blocks and causing severe damage to our vehicles. This includes biting into the … Read more
Rates on 30-year mortgages rose to 6.65% from 6.63% last week, Freddie Mac said. Borrowing costs on 15-year mortgages rose to 5.8% from 5.79%. WASHINGTON — The average rate on a 30-year mortgage in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers leading into the … Read more
Nearly one in three renters admit to delaying a home purchase because of misgivings about the mortgage process. CHICAGO — Americans are confused about mortgages and many other financial aspects of homeownership, according to a new survey of about 1,000 prospective buyers and homeowners conducted by JW Surety Bonds. One in three renters say their … Read more
Homeowners say they have made functional changes to how they use their home in the last few years, including space for hobbies, exercise and remote work. WASHINGTON — Since the pandemic, many consumers are using their homes in new and different ways including living with multiple family members under one roof, expanding outdoor living spaces … Read more
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