The onset of the spring housing market in 2023 is marked by an unsettling trend: a notable decline in sales of previously owned homes. According to the National Association of Realtors, March experienced a startling 5.9% drop in sales from February, registering just 4.02 million units. This downturn is not just a seasonal bump; it
Real Estate
In an astonishing juxtaposition, while global markets buckle under the weight of economic volatility and unexpected tariff announcements, New York City’s luxury real estate market shines brighter than ever. On April 3, 2023, as the Dow Jones Industrial Average plummeted by a staggering 1,679 points—and ended the next day down another 2,231 points—the spotlight turned
Last week, mortgage rates skyrocketed to heights unseen since February, raising alarms for potential homebuyers. The Mortgage Bankers Association’s latest data revealed an alarming 8.5% decline in total mortgage application volume compared to the previous week. This sudden spike in rates is not merely a statistical blip; it’s a harbinger of a concerning trend that,
Last week, the financial landscape faced a jarring shift as volatility in the markets triggered a significant drop in mortgage interest rates. This rare instance, where rates tumbled to their lowest since October, sparked a breathtaking surge in mortgage applications—a whopping 20% increase from the previous week, making this the highest demand seen since September
In what can only be described as a gut-wrenching escalation, the average rate for a 30-year fixed mortgage has ballooned to 7.1%. This stark jump of 13 basis points signals a severe warning for potential homeowners. The last time rates were this high, we saw a somewhat stable market in mid-February. However, the volatility we’ve
Recent trends in mortgage rates have triggered a wave of anxiety across the U.S. housing market. The rising rates, driven primarily by a swift sell-off in U.S. Treasury bonds, are a clear indication of financial instability. Investors are skittish, and the correlation between mortgage rates and the yield on 10-year Treasuries seems to be bearing
In a surprising twist reminiscent of a financial thriller, mortgage rates have surged to their highest levels in over a month, dashing hopes for a more accessible spring housing market. The average rate on a 30-year fixed mortgage skyrocketed by 22 basis points on a single Monday, followed by an additional climb of 3 basis
In an unexpected turn of events, mortgage rates took an astonishing tumble of 12 basis points, settling at an average of 6.63%. This decline marks the lowest level for the popular 30-year fixed loan since October of the previous year. Yet, while it might seem like a silver lining in an otherwise clouded housing market,
Manhattan’s real estate market has recently seen an explosive transformation, with a 29% increase in apartment sales in the first quarter compared to the same timeframe last year. This surge corresponds to a significant shift in investor behavior, particularly among the wealthy who have shifted their focus from volatile stock markets to the supposed safety
When we delve into the life of Maryland Governor Wes Moore, a poignant narrative emerges about the pursuit of stability and ownership. At just 8 years old, his mother contemplated military school as a remedy for behavioral issues, but it wasn’t until he was 13 that reality beckoned. His five failed attempts to escape in