A measure of US homebuilder sentiment dropped for a 10th straight month in October, hitting the lowest level since the early days of the pandemic and illustrating a housing market battered by soaring mortgage rates.The National Association of Home Builders/Wells Fargo gauge decreased 8 points to 38, the weakest since May 2020, figures showed Tuesday. The gauge was weaker than the most pessimistic forecast in a Bloomberg survey of economists.Senti
Falling prey to a wire fraud scheme, he lost the down payment that took his family years to save. Now he’s helping real estate pros protect their clients against cyber scams.Aaron Cole and his wife and two children stand in front of the home they nearly lost in Canby, Ore., after Cole was swindled out of the family's $123,000 down payment in a wire fraud scheme.After a yearlong search, Aaron Cole and his family finally found their dream home in
Burbank — Inflation, soaring mortgage rates and record high prices are making it difficult for many Americans to buy a home. But there could be some relief in sight, as skyrocketing rates have helped cool some of the nation's hottest housing markets.According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage now sits at 6.92%, the highest it has been since 2002, and more than double what it was just a year ago. Ho
The mass exodus from cities inspired by the pandemic may be over, but suburban markets are still hot. With many people working remotely, the suburbs continue to be a more comfortable and affordable option without sacrificing access to the city, albeit with a bit of a longer drive or train ride.Check out these suburban markets that are even giving New York City a run for its money.The Woodlands, Texas A waterway runs through The Woodland
Create stylish and functional spaces on a budget with these Ikea room ideas These Ikea room ideas provide the perfect inspiration for those looking to create a stylish and functional home on a budget.Offering everything from modular, self-assembly kitchen cabinets and storage systems to beds, sofas, lighting and soft furnishings, Ikea is a one-stop-shop for affordable and flexible decorating ideas for every room. Renowned for its s
Mortgage rates, now at a 20-year high, combined with inflation and stock market volatility are causing housing markets to soften quickly. The next several months will be a critical test for the economy, experts say.© photoschmidt - iStock/Getty Images PlusConsumers are facing economic pressure from every angle—rising mortgage rates, stubbornly high inflation, a battered stock market—and the financial environment keeps getting worse for aspir
Homeowners have only three to four minutes to evacuate in the event of a fire, research shows. Share the dangers with your clients to help them prepare and stay safe.Deadly house fires are growing in frequency—and many homeowners have less time to get to safety. Newer homes and furnishings are burning faster(link is external), research shows, giving owners just three to four minutes to evacuate when a fire breaks out. Thirty years ago, whe
The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.Mortgage rates have more than doubled since the beginning of the year as the Federal Reserve pursues an aggressive path of interest rate hikes to bring down stubbornly high inflation.Those actions,
Sustainability is trending, especially among young buyers, and an aesthetically pleasing rain barrel offers cost savings and curb appeal. Outfitting a house with a rain barrel does more than collect and conserve rainwater: It saves money, too. Well-placed rain barrels help cut utility costs by collecting free water for gardening, lawn watering or even washing the car. And homeowners are taking note.“There has absolutely been an increa
Rising interest rates crushing demand for housing, developer financed projects, but infrastructure, power, and manufacturing could soon gain steam, association officials say Total construction spending declined by 0.7% in August as spending on new houses turned sharply lower, while public and private nonresidential construction posted mixed results, according to a recent analysis of federal spending data by the Associated General Contractors
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