In recent years, consumers have been facing unexpected increases in their homeowners insurance premiums. According to Policygenius, home insurance prices rose by an average of 21% between May 2022 and May 2023, leading to significant sticker shock for many policyholders. This surge in prices can be attributed to a rise in catastrophic severe weather events,
Real Estate
Living in a major city in Asia can be quite expensive, especially when it comes to monthly rent. According to data by Numbeo, the monthly rent in Shanghai’s city-center can cost approximately $2,700. However, Hong Kong and Singapore top the list for the highest cost of living in Asia. A family of four can expect
Kamala Harris has been a vocal advocate for affordable housing throughout her political career. As she stands to become the Democratic nominee for president, the question arises about how her policies will align with those of President Joe Biden. Harris has a track record of introducing legislation and initiatives aimed at protecting homeowners and renters,
The recent data on mortgage interest rates reveals a slight decrease in average contract interest rates for 30-year fixed-rate mortgages. Despite this decrease to 6.82% from 6.87%, the rates are still not enticing enough to prompt potential homebuyers to make a move. While this is the lowest level since February of this year, there is
The housing market has experienced a significant slowdown, with sales of previously owned homes dropping by 5.4% in June compared to May. This decline resulted in 3.89 million units sold on a seasonally adjusted, annualized basis. Sales were also 5.4% lower than the same month last year, marking the slowest sales pace since December. Lawrence
Many renters may not realize that they are actually in a position to afford a home. In 2022, a study by Zillow revealed that about 39% of households in the U.S. were not homeowners. However, approximately 7.9 million of these households were deemed “income mortgage-ready,” meaning their income-to-mortgage ratio would have been 30% or less
In the United States, housing is the most significant expense for consumers. However, many individuals face challenges when trying to save for a home due to high rents and home prices. Access to affordable credit is another major impediment for potential homebuyers. According to a 2022 fact sheet from the Office of the Comptroller of
The recent drop in mortgage rates to the lowest level since March has caused a significant surge in refinancing applications. According to data from the Mortgage Bankers Association, applications to refinance a home loan saw a 15% increase last week compared to the previous week. This spike in demand brings refinancing activity to the highest
While Delaware may be a small state, it offers a big boost when it comes to the affordability of housing. With one of the lowest property tax rates in the country, Delaware homeowners can enjoy a more affordable living situation compared to other states. This makes it an attractive option for prospective homebuyers looking to
The recent signs of inflation easing have raised the possibility of the Federal Reserve initiating interest rate cuts in the near future. The consumer price index experienced a drop in June, marking the first decline in over four years, according to data from the Labor Department. This shift in inflation trends has prompted analysts like