After a sluggish summer characterized by waning home sales, October 2023 marked a notable resurgence in the housing market, largely fueled by a sharp decline in mortgage rates. The National Association of Realtors (NAR) reported a 3.4% increase in sales of previously owned homes, raising the annualized rate to 3.96 million units. This uptick not
Real Estate
In a seemingly paradoxical trend, there was a notable uptick in mortgage demand last week, counterintuitively occurring alongside a fourth consecutive rise in mortgage rates. According to the latest findings by the Mortgage Bankers Association (MBA), total application volume increased by 1.7% compared to the previous week, as reported by their seasonally adjusted index. Such
In recent years, a profound shift in the living arrangements of young adults has emerged, particularly noticeable among individuals aged 18 to 34. According to data from the U.S. Census Bureau, approximately one-third of adults within this age bracket reside in their parental homes. This phenomenon has been exacerbated by the COVID-19 pandemic, which compelled
The contemporary mortgage market appears to have entered a phase of relative stability, a development that industry experts consider favorable for potential homebuyers. As of mid-November 2023, the average 30-year fixed-rate mortgage in the United States stands at 6.78%, showing only a minor fluctuation from the previous week’s 6.79% (Freddie Mac data). This steadiness, specifically
As the economic landscape evolves, so do mortgage rates, which showed an upward trajectory in the past week. Investors are now weighing the implications of shifts in leadership and policy, particularly with the recent changes linked to the Trump presidency. The Mortgage Bankers Association (MBA) has reported a stagnation in total mortgage application volume, which
In the fast-paced world of finance, understanding present trends can significantly alter investment strategies. Recent updates from the CNBC Investing Club have shed light on the evolving market dynamics, particularly in light of the anticipated changes under the new administration. On a notable day, the Dow Jones Industrial Average stood out with a strong performance,
Every weekday, the CNBC Investing Club with Jim Cramer provides valuable market insights during its “Morning Meeting” livestream at 10:20 a.m. ET. On Monday, the financial landscape displayed some intriguing developments, particularly as the S&P 500 managed to close higher, building on its unprecedented highs following recent elections. Even as this momentum surged, the tech-heavy
As key players in the retail sector, Home Depot and Best Buy are currently under the intense scrutiny of Wall Street analysts. While Home Depot appears to be in a favorable position with positive projections, Best Buy faces challenges that may hinder its growth in the near term. This article dissects the recent analyses and
In the wake of President-elect Donald Trump’s victory in the 2024 election, the Federal Reserve made a significant decision by announcing a reduction of its benchmark interest rate by 25 basis points. This move reflects both the immediate economic context and broader economic trends marked by high inflation and persistent consumer concerns. As inflationary pressures
The recent political landscape in the United States has significantly influenced economic indicators, particularly in the housing sector. Following the victory of President-elect Donald Trump, the U.S. 10-year Treasury yield experienced a notable increase, and mortgage rates began to follow suit. This article delves into the ramifications of these shifts, examining the broader implications for