Demand for adjustable-rate mortgages hits 14-year high

Demand for mortgages is on the rise due to what analysts say is an increase in listings on the market and fear that interest rates will continue climbing higher. However, buyers are increasingly turning to adjustable-rate mortgages, or ARMs, as opposed to standard fixed-rate mortgages. ARMs have an advantage in that they offer lower initial

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In today’s hot market, not being able to sell is causing lots of embarassment

Reports frequently mention that homes in the U.S. are selling like hot cakes, going under contract within days, or even hours, of being listed, and often for way abve the asking price. But that’s not true for the homes that aren’t selling, and it’s reportedly causing some embarrassment – as well as surprise and anger

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Americans fear inflation will stop them from achieving homeownership

With inflation running at a 40 year high and the cost of everyday living and goods on the rise, it’s perhaps not surprising to learn that Americans have become increasingly concerned. They’re worried that their personal finances will suffer, and cause them to miss out on their long-term financial goals, which includes homeownership, a new

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Developers say ready-to-move-in turnkey homes are in vogue

Developers say that so-called “turnkey homes”, which are luxurious, fully-furnished and decorated homes that are ready to move in, are what an increasing number of home shoppers are looking for these days. The turnkey home trend is increasingly prevalent in states such as California and Hawaii and in many second-home resort communities, says a report

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Pets are influencing Americans’ home choices

More Americans have adopted pets since the COVID-19 pandemic emerged, and those furry friends are having a big impact on the kinds of homes they desire. Home buyers and renters alike are both prioritizing the needs of their pets when looking for a new place to live. According to a 2021 study by the National

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Home buyers in Sun Belt cities feel the heat of rising prices

Home prices are on the rise everywhere, but it seems that buyers in Sun Belt cities such as Phoenix, Tampa, Fla.; and Atlanta are having it harder than most as more people from out of town look to move there. Because those cities are popular destinations for people looking to relocate, home prices are not

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More than two-thirds of Americans say now is a bad time to buy a house

In one of the most unsurprising poll results seen this year, when a house is on the agenda, a record majority of Americans have indicated they believe now is most definitely not a good time to buy a home. Gallup’s annual Economy and Personal Finance poll found that just 30% of Americans currently believe now

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Despite higher costs, home remodeling projects go ahead

Home improvement projects have gotten more expensive due to forty-year high inflation and ongoing supply chain problems, but people aren’t giving up. A new survey of 1,000 homeowners by Nationwide shows that while 71% of homeowners who have projects planned are faced with higher costs, limited availability of materials and delays, most will still go

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U.S. Home affordability hits worst level since 2006

With home prices still making double-digit gains and mortgage rates now at their highest level since 2009, Americans are facing the worst home affordability in 16 years. Now, almost all housing markets in the U.S. are less affordable than they have been historically, with affordability close to its lowest-ever point on record.  Black Knight, a

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Redfin settles digital redlining case out of court

The online real estate brokerage Redfin has agreed to pay $4 million to settle a discrimination lawsuit out of court. The lawsuit alleged that the company failed to provide its brokerage services to homes that were listed below a specific price, a practice known in the industry as “digital redlining”. By settling out of court,

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