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
Real Estate
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,
Real estate has been considered as the best long-term investment by a significant percentage of Americans. Gallup, a global analytics and advisory firm, conducted a survey that revealed about 36% of Americans ranked real estate as the top long-term investment, surpassing stocks, mutual funds, gold, and savings accounts or certificates of deposits. The study highlighted
Recent data from the Mortgage Bankers Association indicates that mortgage interest rates have reached their highest level since early May, resulting in a decrease in mortgage demand for the second consecutive week. Mortgage application volume fell by 5.2% compared to the previous week, reflecting the impact of rising interest rates on the housing market. Applications
The Dubai Mall, known as one of the largest malls in the world, is set to undergo a massive expansion that will cost an estimated 1.5 billion dirhams (approximately $408 million). This sprawling shopping complex in the heart of the United Arab Emirates has already established itself as a hub for luxury shopping, dining, and
The housing market has been a topic of concern for many consumers, with some attributing high housing prices to real estate investor activity. According to experts, the data shows that real estate investors purchased approximately 44,000 U.S. homes in the first quarter of 2024, reflecting a slight increase of 0.5% from the previous year. These
In the competitive world of luxury real estate, standing out from the crowd is essential to attract high-end buyers. One innovative approach that has been gaining traction is the integration of art into property viewings. Paul Lester, a partner at The Agency in Los Angeles, has successfully leveraged this strategy by transforming property showings into