In today’s market, consumers are constantly searching for ways to lower their monthly mortgage payments, especially when mortgage rates are on the rise. One option that many are turning to is adjustable-rate mortgages (ARMs). These types of loans often come with lower interest rates than fixed-rate mortgages, making them an attractive choice for many borrowers.
Real Estate
Despite the recent increase in mortgage rates, home prices continued to rise in February. The S&P CoreLogic Case-Shiller national home price index reported a 6.4% year-over-year increase, marking the fastest rate of price growth since November 2022. Both the 10-city and 20-city composites also saw significant gains, with some cities reaching all-time highs in prices.
The real estate market is currently facing a significant challenge with the rise in mortgage rates. According to recent data from Freddie Mac, the average 30-year, fixed-rate mortgage has increased to 7.17%, up from 7.10% the prior week. This rise in rates has caused concern among both buyers and sellers, as it can significantly impact
Saudi Arabia’s economy minister, Faisal Al Ibrahim, recently addressed concerns regarding the scaling back of plans for the kingdom’s $1.5 trillion NEOM megaproject. Despite reports suggesting a reduction in the scope of the project, Al Ibrahim remains confident in NEOM’s ambitious vision and assured that all projects are moving forward as planned. The futuristic desert
In the current housing market, characterized by low inventory, soaring prices, and increasing interest rates, potential homebuyers are turning their attention towards new construction homes. The appeal of new homes lies in the greater availability and incentives that they offer compared to previously owned properties. According to the U.S. Census Bureau and the U.S. Department
The recent increase in mortgage rates has caused a significant drop in mortgage application demand. According to the Mortgage Bankers Association’s index, applications fell by 2.7% compared to the previous week. This decline indicates that potential homebuyers are being deterred by the higher cost of borrowing, resulting in a slowdown in the housing market. Refinancing
Floodplain buyouts have become a common strategy employed by the government to assist homeowners in areas prone to flooding. The Federal Emergency Management Agency (FEMA) has facilitated the purchase of thousands of damaged homes, aiming to mitigate the risks associated with living in flood-prone areas. The process involves acquiring homes, demolishing them, and converting the
When buyers are in the market for a newly built home, they may face some unexpected costs. Data from the U.S. Census Bureau and the Department of Housing and Urban Development shows that the median sale price for new construction in the U.S. was $400,500 in February. However, this price can vary greatly depending on
Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp, recently expressed worry about the upcoming earnings reports of regional banks. In an interview with CNBC’s “Fast Money,” Bair highlighted several critical weaknesses that could pose a threat to the stability of these financial institutions. She pointed out that some regional banks still heavily
When it comes to finding success in the world of fixed income investing, Mary Ellen Stanek, co-chief investment officer at Baird Advisors, believes that hitting home runs is not the way to go. Instead, she emphasizes the importance of maintaining a high batting average over time. Stanek’s 45 years of experience in the industry have