As consumers eagerly await the Federal Reserve’s decision to cut interest rates in September, another significant issue looms on the horizon that could impact the real estate market. The National Flood Insurance Program (NFIP), the largest flood insurer in the U.S., needs to be reauthorized by September 30th to continue issuing new policies or increasing
Real Estate
Affordable housing has become a significant topic in the current economic landscape, with various proposals being put forth by political figures to address the issue. Vice President Kamala Harris recently highlighted the need to make homeownership more accessible by lowering the costs associated with buying and renting homes in the U.S. During a speech in
In a surprising turn of events, shareholder returns for top homebuilders D.R. Horton and Lennar have outpaced the wider S&P 500 between August 2014 and August 2024. Analysts, however, have downgraded the investment outlook of both companies this summer. Despite this, some investors remain optimistic about the industry’s prospects for performance. Industry observers have noted
The recent data released by the National Association of Realtors reveals a positive growth in closed sales of previously owned homes. In July, there was a 1.3% increase compared to June, reaching a seasonally adjusted annualized rate of 3.95 million units. This marks the first gain in five months despite a 2.5% drop in sales
The mortgage rates have experienced a decline for the third consecutive week, which should have been a signal for a surge in refinancing applications. However, this was not the case as there was a notable drop of 15% in applications to refinance a home loan compared to the previous week. Despite this, the volume remains
In the wake of the Bank of England’s recent interest rate cut, Britain’s major high street lenders, including Barclays, Halifax, HSBC, and NatWest, have been quick to respond by slashing borrowing costs. This move has led to a surge in homebuyer activity, with these lenders now offering five-year fixed rate mortgages of under 4%. This
Inflation in the United States continued to decrease in July, mainly due to the easing of price pressures on consumer staples and physical goods, such as food, energy, new and used cars. The consumer price index (CPI), which serves as a crucial measure of inflation, rose by 2.9% in July compared to the previous year,