The recent increase in mortgage rates has had a direct impact on mortgage demand in the market. After a slight decline in rates during May, there was a noticeable uptick in rates last week. This rise in rates was reflected in the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances. The
Real Estate
Multimillionaire Grant Cardone, known for his real estate investments and motivational literature, has been amassing an art collection for approximately 15 years. Despite his substantial wealth, Cardone does not consider himself an art connoisseur. In fact, he describes himself as a spontaneous buyer, stating, “If I like it, I buy it. I don’t care who
Purchasing a home is a significant milestone for many individuals, but the path to homeownership is not without its challenges. A recent survey by Clever.com reveals that 77% of future homebuyers have already commenced saving for a down payment. However, the majority of these potential buyers are planning to put down less than the traditional
The U.S. Census Bureau reported a 4.7% drop in newly built home sales in April compared to March. Additionally, sales fell by 7.7% year-over-year, highlighting the challenges faced by the housing market. The decline in sales can be attributed to the impact of higher mortgage rates on prospective buyers. March sales figures were also revised