Over the past week, mortgage rates have experienced a decline that, while modest, still managed to prompt many current homeowners to explore refinancing options. According to data from the Mortgage Bankers Association (MBA), there was a noticeable 5.4% increase in overall mortgage demand compared to the previous week. This uptick can largely be attributed to
Real Estate
As prospective homeowners embark on the journey of mortgage applications, they often encounter a myriad of roadblocks that can stall or even derail their ambitions. Chief among these stumbling blocks is the notion of “unverifiable income.” The ability to substantiate one’s financial capability plays a pivotal role in securing a mortgage, and lenders utilize rigorous
The recent federal indictment of the Alexander brothers has sent shockwaves through both the real estate industry and society at large. The accusations leveled against Tal, Oren, and Alon Alexander paint a grim picture of exploitation and abuse spanning over two decades. The unsealed documents from federal prosecutors in New York allege that these high-profile
On a significant Wednesday, the Federal Reserve made headlines with its decision to lower the benchmark interest rate by a quarter point, marking its third consecutive reduction. Since a series of aggressive rate hikes beginning in March 2022 and culminating in July 2023, this cut has seen the federal funds rate decrease by an entire
In November, the real estate market saw a notable increase in the sale of previously owned homes, registering a 4.8% rise compared to October. Data from the National Association of Realtors reveals that the seasonally adjusted annualized sales rate reached 4.15 million units. This impressive uptick marks a significant 6.1% increase year-over-year, highlighting a robust
In 2024, the Federal Reserve made a notable decision by lowering its interest rate target three times. While this move was aimed at stimulating economic activity, it has instigated a wave of potential homebuyers and existing homeowners eagerly anticipating a drop in mortgage rates. However, market analysts are cautioning that any significant decreases in mortgage
In a significant move on December 19, 2024, the Federal Reserve lowered interest rates for the third time this year, reducing its benchmark rate by 0.25 basis points. This decision follows a broader trend of interest rate cuts, marking a cumulative decline of one percentage point throughout the year. However, the immediate aftermath of this
In recent trading sessions, significant movements in the stock market have compelled investors to adjust their strategies. Given the turbulence experienced after the Federal Reserve’s comments on interest rates, now is a critical juncture for discerning investors. The Charitable Trust managed by Jim Cramer is responding by purchasing shares in CrowdStrike and Home Depot—two prominent
As the real estate market continues to evolve, potential homebuyers often find themselves in a perplexing situation characterized by high prices and fluctuating economic conditions. With 2025 on the horizon, many are eager to understand what the future holds for housing, including which areas may present opportunities amidst challenges. The National Association of Realtors (NAR)
Recent developments in the mortgage rate landscape have revealed a troubling trend, as rates escalated significantly over the past week. According to data from the Mortgage Bankers Association, total mortgage application volume saw a decline of 0.7% in contrast to the previous week—marking the first drop in five weeks. This contraction highlights the sensitivity of