News & Media NEW YORK – The benchmark national average 30-year, fixed-rate mortgage is close to 7%, nowhere near the expected sub-6% predicted in early fall 2024. The rise is tied to concerns about accelerating inflation, fewer interest rate cuts by the Federal Reserve, and increases in long-term Treasury yields. Despite these headwinds, mortgage […]
NEW YORK – In the high-stakes world of cyber security, the term “hacking” often conjures up images of sophisticated cyber threats and data breaches orchestrated by skilled attackers. However, a lesser known but equally dangerous phenomenon is the rise of “fake hacking,” where individuals or groups deliberately misrepresent their abilities to infiltrate computer systems. […]
News & Media ANN ARBOR, Mich. — Consumer sentiment fell for the first time in six months, edging down 4% from December, according to the University of Michigan’s Consumer Sentiment Index. While assessments of personal finances inched up for the fifth consecutive month, all other index components pulled back. Indeed, sentiment declines were broad […]
WASHINGTON – Existing-home sales climbed in December, according to the National Association of Realtors®. Sales advanced in three major U.S. regions and slipped in the Midwest. Year-over-year, sales accelerated in all four regions. On an annual basis, existing-home sales (4.06 million) declined to the lowest level since 1995, while the median price reached a […]
News & Media By Amy Connolly WASHINGTON – The Federal Communications Commission issued a warning to homeowners about scammers posing as mortgage lenders threatening foreclosure if they don’t pay up. Called the Green Mirage scam, fraudsters call a homeowner and pose as the homeowner’s mortgage provider, the FCC said. Often, the homeowner has previously […]
NEW YORK – The average rate on a 30-year mortgage in the U.S. eased this week to just below 7%, its first decline after climbing five weeks in a row. The rate fell to 6.96% from 7.04% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.69%. Borrowing costs on […]
NEW YORK – Not every home renovation needs to be a bank-breaking, back-breaking epic. Sometimes, small and simple projects are the way to go. Here’s a look at some projects that won’t take over your life for weeks but still make a big difference in your home’s usefulness and comfort. Upgrade your exterior A […]
SEATTLE— Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment ($1,592), the lowest amount needed since March 2022, according to a new report from Redfin. That’s down 0.4% from a year ago and a drop of 6.4% from August 2022 when the median asking rent hit an all-time […]
News & Media SEATTLE – The median U.S. monthly housing payment is $2,686, the highest level in nearly seven months, as of the four weeks ending January 19. Housing costs are high because of rising mortgage rates and home prices: The weekly average mortgage rate is 7.04%, the highest level since May, and the […]
News & Media By Amy Connolly WASHINGTON – The Federal Communications Commission issued a warning to homeowners about scammers posing as mortgage lenders threatening foreclosure if they don’t pay up. Called the Green Mirage scam, fraudsters call a homeowner and pose as the homeowner’s mortgage provider, the FCC said. Often, the homeowner has previously […]
News & Media By Amy Connolly ORLANDO, Fla. – As the wildfires continue to ravage California, the National Association of Realtors® published a new Consumer Guide to help buyers, sellers and owners navigate fire damage and insurance coverage. Links to /law-ethics/nar-settlement-sitzer-burnett-lawsuit The resources you need to do business in the post-NAR settlement real estate […]
Wood is seeing a resurgence due to its durability, sustainability and easier installation. Rising material and labor costs make it important to weigh choices for longevity.