Recent data shows that the latest drop in mortgage rates did not impress consumers as expected. Despite a 0.9% increase in total mortgage application volume, the response was lackluster. The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.94% from 7.02%, which is the lowest level since March. However, this drop did not
Real Estate
In 2024, Hong Kong once again claimed the title of the world’s most expensive city for expats, according to Mercer’s Cost of Living City Ranking. This ranking revealed that Asia’s major financial centers, including Singapore and Zurich, were among the top three costliest cities for international workers to reside in. Cities in Switzerland, such as
When one thinks of Singapore, images of skyscrapers, high-rise buildings, and modern architecture may come to mind. However, hidden among the bustling streets are the historic shophouses that have become a coveted investment for the wealthy and famous. These ornate and colorful colonial-era buildings, some dating back to the 1840s, are part of a government
As sea levels continue to rise and storms become more intense, coastal real estate is facing unprecedented challenges. From California to New York and Massachusetts, some of the nation’s most expensive coastal properties are at risk due to climate change. The 2021 hurricane season is expected to be “above-normal” in terms of activity, with up
British financial technology firm Revolut has recently made headlines with its decision to relocate its official headquarters in London to Canary Wharf, the city’s major financial district. This move signifies a significant milestone in the company’s growth and expansion plans. Revolut is set to move its global headquarters to the YY London building in the
Last week witnessed a significant drop in mortgage rates, leading to a surge in mortgage application volume by almost 16% compared to the previous week. However, this downward trend in rates was short-lived as they shot back up after a stronger-than-expected monthly employment report was released on Friday. Despite the dip in rates, the average
The cost of owning a home in the United States has not only increased in terms of purchasing price but also in terms of keeping and maintaining the property. According to a recent report by Bankrate.com, the “hidden costs” of homeownership now amount to an average of $18,118 annually, which translates to roughly $1,510 per
The total home equity for U.S. mortgage holders has been on the rise, reaching over $17 trillion in the first quarter of 2024. This increase comes close to the previous record set in the third quarter of 2023. On average, equity per borrower has seen a significant jump of $28,000 in the past year, totaling
There is a division among experts regarding the future trajectory of the housing market as we move into the latter half of the year. Glenn Kelman, the chief executive of Redfin, expressed optimism about the improvement of the housing market in the upcoming months. According to him, the market hit rock bottom in the first
The real estate market is abuzz with an array of iconic homes that are currently up for sale. These properties, often tied to a celebrity or famous movie, carry a certain pedigree that attracts buyers willing to pay a premium price for them. This unique appeal is likened to owning a piece of pop culture,