Tag: Housing
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Home prices fall in January and are even falling in some cities: S&P Case-Shiller
A “For Sale” sign outside a home in Atlanta, Georgia, on Friday, February 17, 2023. Dustin Rooms | Bloomberg | Getty Images Home prices fell just 3.8% nationally in January from a year earlier, according to the S&P CoreLogic Case-Shiller US National Home Price NSA Index. That is a decrease from the 5.6% in December. […]
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Home sales peak in February, median price falls
A “For Sale” sign outside a home in Atlanta, Georgia, on Friday, February 17, 2023. Dustin Rooms | Bloomberg | Getty Images Existing home sales rose 14.5% in February compared to January, according to a seasonally adjusted tally by the National Association of Realtors. That brought annual sales to 4.58 million units. It was the […]
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Can I evict tenants who have lived in a house I inherited for years without a lease?
I inherited a house in San Francisco from my aunt. My aunt had rented her basement (probably illegally) to an elderly couple for a few years at a price below market price. I don’t believe there was a lease, and it’s probably against the building code to have tenants in the basement. The couple’s family […]
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Demand for mortgages is rising despite volatile interest rates
Demand for mortgages increased for the second week in a row, despite some volatility in mortgage rates. Total application volume rose 6.5% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) fell from […]
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Mortgage demand is recovering slightly, despite rising interest rates
A “For Sale” sign outside a home in Atlanta, Georgia, on Friday, February 17, 2023. Dustin Rooms | Bloomberg | Getty Images After falling to a 28-year low last week, demand for mortgages recovered slightly, even as interest rates rose. Total mortgage applications rose 7.4% last week, according to the Mortgage Bankers Association’s seasonally adjusted […]
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Mortgage rates back more than 7% as markets fear inflation
The average rate on the 30-year fixed mortgage rose more than 7% to 7.1% on Thursday, according to Mortgage News Daily. Growing fears that inflation will not cool are driving up bond yields. Mortgage rates loosely track the yield on the US 10-year Treasury. “Rates continue to move at the suggestion of economic data and […]
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Demand for mortgages falls when interest rates rise
A prospective buyer and her real estate agent view a home for sale at an open house in Parkland, Florida. Carline Jean | Tribune News Service | Getty Images Mortgage rates rose again last week, pushing buyers back to the sidelines just as the housing market should warm up in the spring. Mortgage applications to […]
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House prices in the United Kingdom are showing the sharpest annual decline in a decade
February saw a 0.5% month-over-month decline, with prices now 3.7% lower than their peak in August 2022, as higher mortgage rates and a crisis in the cost of living continued to deter home buying. “The recent string of weak home price data began with the financial market turbulence in response to the mini-budget in late […]
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In the midst of high housing costs, how to figure out what to spend on rent
Gremlin | E+ | Getty Images There is often a gap between theory and practice, what we should do and what we actually do. But when it comes to the long-held advice for renters to spend no more than 30% of their income on housing, it’s increasingly impossible to even try to meet the goal, […]