Mortgage rates had a slight increase last week for the second consecutive week, although they still remain at a level that is preferred by consumers. Despite this, there was a significant rise in total mortgage application volume compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
Real Estate
The housing market continues to experience a rapid surge in home prices, with each passing month bringing even higher price tags. This upward trend has been fueled by a notable decline in mortgage rates. According to a recent report from analytics firm CoreLogic, national home prices jumped by 5.2% in November compared to the same
The spring housing market typically experiences a surge in activity, and this year may be no exception. A significant drop in mortgage interest rates in December has caught the attention of consumers, and expectations of further decreases are on the rise. This shift in sentiment has been reinforced by a monthly consumer survey conducted by
The state of the U.S. economy in 2023 was a chief concern among Americans. However, despite various challenges, the macroenvironment experienced positive developments. This article critically examines the economic landscape of the United States in 2023, highlighting key areas such as spending, market performance, job creation, inflation, consumer behavior, and interest rates. Despite concerns that
In a bold move, Attorney General Letitia James of New York has asked a judge to permanently ban former President Donald Trump from the state’s real estate industry. This request also includes a lifetime ban from serving as an officer or director of a New York corporation. Additionally, James is seeking a substantial fine of
The Federal Reserve has achieved a rare feat in economic history by successfully bringing down inflation. In its latest economic projections, the central bank indicated its intention to cut interest rates in 2024, even as the economy continues to grow. This approach is aimed at achieving a “soft landing,” where inflation returns to the Fed’s