The recent decision by the Bank of England to cut interest rates for the first time in over four years has prompted major high street lenders in Britain to slash their mortgage rates. This move signals a potential easing of financial pressure on households, as homeowners stand to benefit from reduced borrowing costs. Following the
Real Estate
Vice President Kamala Harris has made it clear that building up the middle class will be a top priority during her presidency. She recognizes that a strong middle class is essential for a strong America and that families need relief from the high cost of living in order to not just get by, but to
The latest data from the Mortgage Bankers Association suggests that home affordability has seen a slight improvement for buyers this summer. The median new mortgage payment dropped to $2,167 in June, marking a 2.4% decline from the previous month. This decrease in the index indicates that borrower affordability has improved, thanks to factors such as
As homeowners prepare to renew their home insurance policies, they may be taken aback by the significant increase in premiums. Recent data shows that between May 2022 and May 2023, the average home insurance prices surged by 21% at renewal time. This spike is attributed to the rise in catastrophic severe weather events, which have
Living in a major city can come with a hefty price tag, especially in Asia. According to data from Numbeo, the monthly rent in Shanghai’s city-center costs approximately $2,700. However, Hong Kong and Singapore top the list for the cost of living in the region. A family of four can expect to spend an estimated
Vice President Kamala Harris has long been a vocal advocate for affordable housing throughout her career in politics. From her time as the attorney general for California to her current role as Vice President, Harris has shown a commitment to addressing the housing crisis in the United States. One of Harris’ most notable accomplishments in
Despite a slight decrease in mortgage interest rates last week, prospective homebuyers are still hesitant to make a move. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances dropped to 6.82% from the previous 6.87%. While this is the lowest level seen since February of this year, it seems that the
In June, the sales of previously owned homes saw a significant drop of 5.4% compared to May, according to the National Association of Realtors. This decline is reflective of the shift from a seller’s market to a buyer’s market. Lawrence Yun, the chief economist for the Realtors, noted that homes are remaining on the market
Many renters are unaware that they might actually be in a position to buy a home. In 2022, a significant number of households could have afforded to buy a house based on their income levels. However, some people choose to continue renting due to various reasons. It is essential to assess your financial situation before
Recent data shows that mortgage rates dropped to the lowest level since March, leading to a significant increase in demand for refinancing. Applications to refinance a home loan skyrocketed by 15% last week, reaching the highest level since August 2022. This surge in demand is a positive sign for homeowners looking to take advantage of