Chris Burke and his fiancée have spent the past three years trying to save for their first home, but they keep encountering obstacles. The first challenge was saving for a down payment, and now rising interest rates have pushed their homeownership dreams even further away. This setback has not only stalled their plans to get …
In the current real estate market and wider economy, homeowners are seeking ways to make use of the equity in their homes due to high prices. According to a study conducted by the real estate platform RubyHome, searches for “heloc” (home equity line of credit) have reached an all-time high, showing a remarkable increase of …
According to a recent report from Re/Max Canada, the surge in housing activity in the first half of the year was driven by buyers looking to upsize their homes, taking advantage of a period of stability in interest rates. This surge came after a housing correction that hit its “trough” in January when the Bank …
Decrease article font size Increase article font size In June, the housing market in Canada experienced a slowdown due to the Bank of Canada’s interest rate hikes and an increase in new listings, according to the Canadian Real Estate Association. Compared to April, home sales only saw a 1.5% increase in June, with gains in …
As the 2024 presidential campaign gains momentum, Joe Biden has taken to the stage, delivering speeches on “Bidenomics” and highlighting the country’s economic performance under his presidency. In normal circumstances, this would be an opportune moment for him to make such a pitch. However, we are facing unprecedented times. Unemployment has dropped to 3.6 percent, …
For the first time in 11 years, the housing market is experiencing a decline in home prices on a national level. According to the S&P CoreLogic Case-Shiller National Home Price Index, there was a 0.2% drop in prices in April, as reported by the Wall Street Journal. This is the first time since April …
A new home lot shows sold as other home construction begins in a new neighborhood in Grasonville, Maryland, on January 19, 2023. Jim Watson | AFP | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to …
A “Sold” sign outside a home in the Toll Brothers Regency Ranch at Folsom housing community in Folsom, California, US, on Tuesday, May 16, 2023. David Paul Morris | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on …
The housing market in Canada will not be fully suppressed by the Bank of Canada’s interest rate hikes, according to a new report from Desjardins. The report emphasizes that the housing market rebounded strongly since March, coinciding with the pause in rate increases that ended recently. Although another interest rate increase is expected in July, …
A major financial services CEO cautions that the economy has not yet fully absorbed the impact of higher interest rates. Thomas Michaud, CEO of Stifel company KBW, points out that there is a delayed reaction in the market following the last rate hike. He emphasizes that a 25 basis point increase at a 5% rate …