The average long-term mortgage rate in the U.S. increased this week to its highest level in almost a year, impacting borrowing costs for homebuyers. Freddie Mac reported that the 30-year fixed-rate mortgage rose to 6.55% from 6.49% the previous week. Last year, the rate was 6.75%. Higher mortgage rates mean additional monthly expenses for borrowers, […]
The Evanston City Council has approved the construction of a five-story, 30-unit apartment complex on Emerson Street, despite opposition from a nearby historic Black church. The decision to proceed with the project was made through a 5-1 vote by the aldermen on July 13. This approval allows for significant zoning variations to accommodate the development […]
In June, U.S. home prices reached a new peak, impacting sales negatively, yet certain areas are proving advantageous for buyers. Miami, Florida stands out as a prime example, with data from real estate brokerage Redfin showing approximately 140 percent more home sellers than buyers. This high supply gives buyers in Miami the leverage to negotiate […]
California is known for its high-priced housing. From expansive compounds in the hills above Stanford University to beachside properties in Malibu, the state offers diverse options. Yet, in many of California’s elite communities, high prices are not a barrier due to equally high salaries. Conversely, homes in gentrifying urban areas are priced lower. However, these […]
New York City Mayor Zohran Mamdani recently announced the Rent Guidelines Board’s decision to implement a rent freeze. This move affects many rental properties in the city. While the mayor celebrates this decision, landlord Humberto Lopes raises concerns about its impact on property owners. Lopes sees the rent freeze as a challenge for landlords who […]
The price of gold has dropped significantly, falling over 25% since earlier this year. As of July 9, gold stands at $4,122 per ounce, down from its peak of $5,589.38 in January. This substantial decrease presents a unique opportunity for those who have found gold previously inaccessible due to high prices. Now is the moment […]
Savers can now benefit from the interest-earning potential of CDs with a 4.20% rate. The actual return depends on the term and deposit amount. For every $100 deposited, roughly $4 is earned, assuming funds remain in the account until the maturity date. The return could be significantly higher depending on the deposit size and account […]
The conversion of an office building on East 42nd Street in New York City is set to become the largest of its kind in the city’s history. This initiative aims to tackle the city’s housing crisis through redeveloping office spaces into residential complexes. The building at 235 East 42nd Street, formerly the headquarters of Pfizer, […]
In 2019, approximately 36% of America’s 122.8 million households were headed by renters. Whether you’re in a single-family house in a small town or a studio apartment in a bustling high-rise, you might feel disadvantaged as a renter. Lisa Bates, a professor at the Toulan School of Urban Studies and Planning at Portland State University […]
Asian markets exhibited mixed outcomes Monday while U.S. futures increased following the extended Wall Street weekend. Technology share sales impacted benchmarks in Tokyo and Seoul, leading to a decrease in these regions. Oil prices experienced a decline after the announcement by OPEC+ on Sunday. Seven member states intend to elevate oil production by an aggregate […]