The most recent decrease in mortgage rates did not seem to impress consumers. Even though the average contract interest rate for 30-year fixed-rate mortgages fell to 6.94% from 7.02%, with points decreasing to 0.61 from 0.65, the total mortgage application volume only rose by 0.9%. This indicates a lackluster reaction from potential homebuyers to the
Real Estate
In 2024, Hong Kong maintained its title as the most expensive city for expats to live in. The survey conducted by Mercer revealed that Asia’s major financial centers, including Singapore and Zurich, also made it to the top of the list. Notably, cities in Switzerland – Zurich, Geneva, Basel, and Bern – claimed four out
Singapore, known for its modern skyscrapers and advanced infrastructure, is also home to some hidden gems in the form of ornate shophouses that dot the streets of its old neighborhoods. These colonial-era buildings, some dating back to the 1840s, are a stark contrast to the contemporary architecture that dominates the city-state. Despite their historical significance
Coastal real estate is facing unprecedented challenges as sea levels rise and storms intensify due to climate change. From California to New York to Massachusetts, some of the most expensive coastal properties in the nation are in precarious positions. The National Oceanic and Atmospheric Administration (NOAA) has predicted an “above-normal” hurricane season this year, with
British fintech firm Revolut has made a significant announcement regarding its official headquarters in London. The company has revealed its plans to relocate its global headquarters to the YY London building in Canary Wharf, London’s major financial district. This move marks a strategic decision for Revolut as it aims to strengthen its presence in the
The mortgage rates experienced significant fluctuations last week which led to a surge in total mortgage application volume. The average contract interest rate for 30-year fixed-rate mortgages saw a decrease during the week, only to jump back up after a stronger-than-expected monthly employment report on Friday. This increase caused rates to rise by 12 basis
Many people are aware of the rising costs of buying a home in the U.S., but what often catches buyers off guard are the additional expenses involved in keeping and maintaining a home. According to a recent report by Bankrate.com, the “hidden costs” of homeownership amount to an average of $18,118 annually, or $1,510 a
The current state of the housing market in the United States shows that home equity is nearing all-time highs. In the first quarter of 2024, total home equity for U.S. mortgage holders reached over $17 trillion, just slightly below the previous record set in the third quarter of 2023. The average equity per borrower also
As we delve into the future of the housing market, conflicting opinions from experts emerge regarding the trajectory it is likely to take in the latter half of the year. While some, like Glenn Kelman, CEO of Redfin, express optimism about an impending improvement, others, such as Jeff Ostrowski from Bankrate.com, remain skeptical about the
In the world of luxury real estate, owning a piece of pop culture can come at a steep price. Iconic homes, with ties to celebrities or famous movies, are often considered collector’s items and can fetch a premium in the market. The allure of owning a property with a unique backstory is hard to quantify,