In the U.S., the issue of housing affordability remains a pressing crisis, exacerbated by a shortage of roughly four million homes as reported by the National Association of Realtors by mid-2023. President-elect Donald Trump’s ambitious plan to alleviate this crisis revolves around increasing the construction of new homes. His announcement during a news conference in
Real Estate
In a notable turn of events last week, mortgage interest rates experienced a decline, prompting a significant surge in homebuyer activity. Data from the Mortgage Bankers Association revealed a striking 6.3% increase in total mortgage demand, showcasing a clear change in market sentiment. The average contract interest rate for 30-year fixed-rate mortgages, particularly those conforming
In a recent strategic move, Jim Cramer’s Charitable Trust decided to offload 165 shares of Best Buy at a price of approximately $86 per share. Following this transaction, the trust’s total holdings in Best Buy will be at 600 shares, adjusting its portfolio allocation from 1.9% to an estimated 1.5%. Such adjustments signal a crucial
The latest developments in the mortgage sector reveal a slight recovery in demand, even as interest rates continue to rise. Recent data from the Mortgage Bankers Association (MBA) indicates a 1.7% increase in total mortgage application volume for the past week, a notable rebound following a period of stagnation. Interestingly, this uptick coincides with a
Every weekday at 10:20 a.m. ET, the CNBC Investing Club led by Jim Cramer offers its members an exclusive “Morning Meeting” livestream, where crucial market movements and investment opportunities are discussed. As the stock market continues to react to various economic signals, the club provides valuable insights that are essential for investors looking to navigate
According to recent data from Freddie Mac, the average rate for a 30-year fixed mortgage in the United States saw a slight reduction, dropping to 6.78% for the week that ended on November 14th, a decrease from the previous week’s rate of 6.79%. This stabilization offers a semblance of certainty in what has been an
In the last week, mortgage rates have continued to ascend, reflecting the broader economic uncertainties entwined with changes in political leadership. As investors begin to reassess the future trajectory of the economy under the Trump administration, the mortgage market displayed a phase of temporary stability. The Mortgage Bankers Association’s seasonally adjusted index revealed a modest
In the ever-evolving realm of stock market investing, the latest updates from the CNBC Investing Club led by Jim Cramer reveal an intriguing intermission in the competitive theatre of American finance. With the Dow Jones Industrial Average surging past the significant psychological threshold of 44,000, it serves as a barometer for investor optimism following a
The landscape of mortgage rates has faced yet another shift, contributing to a waning demand in both the refinancing and home purchasing arenas. Last week, the Mortgage Bankers Association reported a striking 10.8% decrease in total mortgage application volume when juxtaposed against the previous week. This decline is significant and marks a continued trend of
Mortgage rates have recently surged, marking a notable shift in the real estate landscape. As of last week, rates increased for the fourth time in five weeks, prompting a noticeable decline in refinancing activity. The Mortgage Bankers Association (MBA) reported a slight dip in total mortgage application volume, which fell by 0.1% from the previous