Canada’s housing market is experiencing a slowdown in homebuying activity, which is allowing for an increase in inventory, according to the Canadian Real Estate Association (CREA). In July, national home sales decreased by 0.7% compared to the previous month. CREA stated that the housing market has been stabilizing after a bustling spring, as the Bank …
Bob and Terri Wood, residents of Mobile, Alabama, are contemplating selling their home. The couple, who bought the spacious 5,000-square foot house with a pool nearly a decade ago, believes it’s time to downsize and be closer to their grandchildren in Tennessee. However, they face a dilemma. They currently hold a 3.125% 15-year fixed mortgage, …
Lucy Lambriex | DigitalVision | Getty Images Despite the substantial elderly and disabled population in the United States, there is a severe lack of affordable housing to accommodate these individuals. “For many Americans, having adequate housing is more of a dream than a reality,” said Senator Bob Casey, D-Pa., who serves as the chairman 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 …
A new housing development has been constructed near the Mokelumne River in Stockton, California. Lawrence Yun, the chief economist for the National Association of Realtors, highlights the impact of the Federal Reserve’s actions on the housing industry. While the Federal Reserve’s interest rate hikes aim to control inflation, the bond market, specifically the spreads between …
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 …
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, …
As interest rates have risen, homebuyers have faced higher borrowing costs. In response, more home purchasers are choosing to buy mortgage points to mitigate the impact of increased monthly payments. Mortgage points allow buyers to pay an upfront fee in order to lower the interest rate on their loans. In some cases, sellers may assist …