Washington CNN — Mortgage rates have taken would-be buyers on a ride this year — and it’s only March. Generally, home buyers can anticipate mortgage rates to move down through the rest of this year as the banking crisis drags on, which could cool down inflation. But there are bound to be some bumps along […]
Editor’s Note: This is an updated version of a story that originally ran on February 1, 2023. New York CNN — After two weeks of banking turmoil, the Federal Reserve on Wednesday continued its bid to beat down inflation by raising its key interest rate again, the ninth such hike over the past year. That […]
Washington, DC CNN — US home building jumped higher in February, turning around after five consecutive months of falling. Housing starts, a measure of new home construction, rose by 9.8% in February from January. But that’s still down 18.4% from a year ago, according to data released Thursday by the Census Bureau. Starts in January […]
Hong Kong CNN — The property market in China is so depressed that some banks are resorting to drastic measures, including allowing people to pay off mortgages until they are 95 years old. Some banks in the cities of Nanning, Hangzhou, Ningbo and Beijing have extended the upper age limit on mortgages to between 80 […]
CNN — If you came across a four bedroom, 3.5 bathroom home listed for sale recently on a quiet cul-de-sac in Cedar Rapids, Iowa, you might not think twice about the online listing. It included typical real estate descriptions like “ideal for entertaining” and “ample space for relaxation.” But JJ Johannes, the realtor for the […]
London CNN — In May 2017, Sophie Bichener did what many in their twenties are unable to do: buy a home. She paid around £230,000 (around $295,000 at the time) for her two-bedroom apartment in a high-rise building in a town north of London, where a train could get her to work in the capital […]
Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen throughout most of 2022, spurred […]
London CNN Business — Last year, Auckland’s largest real estate company couldn’t sell properties quickly enough to meet demand in New Zealand’s biggest city. Houses were “flying out the door,” said Grant Sykes, a manager at real estate agency Barfoot & Thompson. “There were chin-dropping moments when agents stand around the room and are gobsmacked […]
London CNN Business — For Rebeca Blázquez, the past few weeks have been a “nightmare.” Based in Madrid but hoping to find work in London before starting her master’s degree, the 22-year-old university graduate spent a month searching online for a room to rent in London on a £900 budget ($1,070). She sent dozens of […]
New York CNN Business — Investors sleuthing for clues about what the Federal Reserve will decide during its December policy meeting got quite a few this week. But those hints about the future of monetary policy point to an outcome they won’t be very happy about. What’s happening: Federal Reserve officials made a series of […]
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