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☆ High mortgage rates didn't put a lid on home prices, but soaring insurance costs might, real estate experts say
▼ + stars: | 2024-05-04 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

While high mortgage rates didn't bring prices down, steep insurance costs could put a lid on further appreciation. But there's an under-the-radar factor that could soon pull down home prices nationally, real estate experts told Business Insider — soaring home insurance costs. AdvertisementThe insurance costs usually come as a surprise to home buyers in those areas, Fairweather added. To Fairweather, it's more precise to say the rising insurance will make home values grow more slowly than they would have, as the robust demand still characterizes the current market. We take into account prices and mortgage rates and now rising insurance costs, but there's still people wanting to buy homes," she said.

Persons: —, Zillow, FRED, Daryl Fairweather, Fairweather, Danielle Hale, Hale, Jesse Keenan, Keenan, it's, homeownership, there's Organizations: Service, Business, Tulane University Locations: Florida, Texas, West, Louisiana

☆ Florida real estate struggles as ‘motivated’ sellers flood market
▼ + stars: | 2024-05-01 | by ( Taylor Craig | In | ) www.cnbc.com time to read: 1 min

Once a red-hot destination for out-of-state homebuyers, Florida is seeing its inventory of homes for sale skyrocket and price growth stagnate. "It was one of the only markets that actually sustained price growth after interest rates went up, so I think this correction is a bit overdue." According to Redfin, the median time a Florida home spent on the market was 57 days in March. "More new listings are coming on the market right now too." There are more than 5,600 active listings in Florida that include the keyword "motivated" in the description on Zillow .

Persons: Daryl Fairweather, CNBC's, Redfin, It's, Fairweather Locations: Florida

☆ Correction in Florida's housing market 'a bit overdue', says Redfin's Daryl Fairweather
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCorrection in Florida's housing market 'a bit overdue', says Redfin's Daryl FairweatherHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Redfin's Daryl Fairweather, Brian Sullivan, “ Organizations: CNBC

☆ Hybrid vehicles are the hottest thing in the market right now, says Group 1 Automotive CEO
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHybrid vehicles are the hottest thing in the market right now, says Group 1 Automotive CEODaryl Kenningham, Group 1 Automotive president and CEO, joins 'Squawk Box' to discuss the state of the auto market, price trends for new and used cars, consumer demand for EV and hybrid vehicles, and more.

Persons: Daryl Kenningham Organizations: EV

☆ FTC bans employers from using noncompete clauses
▼ + stars: | 2024-04-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register. The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force. The ban would apply nationwide, overriding state laws regarding noncompete agreements. In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.

Persons: Joe Biden, “ won’t, ”, Stefanie Camfield, Daryl Joseffer, “, ” Joseffer, Neil Bradley, Kathleen Hochul, Anne Clark, Vladeck, Raskin, Clark P.C, Amanda Wait, DLA Piper, Clark Organizations: New, New York CNN, Federal Trade Commission, FTC, of Commerce, Federal Register, Washington , D.C, Engage, Chamber’s Litigation, New York Locations: New York, California, North Dakota, Oklahoma, Washington ,, Colorado , Maryland , Oregon, Rhode

☆ The housing shortage is getting no help from aging baby boomers
▼ + stars: | 2024-04-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

78% of home-owning baby boomers plan to age in their current homes, a Redfin survey found. Financial incentives are keeping boomers put, with current mortgage rates and home prices too high. That's not good news for housing supply, which is already dwindling at historic lows. Politicians should focus on expanding housing stock that meets the needs of older Americans, which could help with housing affordability and availability for all," Fairweather added. Prospective homebuyers could see some inventory relief as mortgage rates continue to gradually fall through this year, bringing back sellers.

Persons: boomers, —, Redfin, It's, millennials, Daryl Fairweather, aren't, Fairweather Organizations: Service

☆ A third of Gen Z and millennial homebuyers plan to use family money for a down payment amid sky-high housing costs
▼ + stars: | 2024-03-27 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

More than a third of Gen Z and millennial homebuyers anticipate their families to help with the cost, Redfin says. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNearly half of Gen Zers and millennials say they aren't keen on buying homes soon due to sky-high prices. "The bigger problem is that young Americans who don't have family money are often shut out of homeownership.

Persons: Gen Z, Redfin, —, Z, Zers, Daryl Fairweather, they're, " Fairweather Organizations: Service Locations: America

☆ Could First-Time Home Buyers Lose Out Under New Commission Rules?
▼ + stars: | 2024-03-25 | by ( Ronda Kaysen | Rukmini Callimachi | ) www.nytimes.com time to read: +1 min

With a landmark legal settlement poised to upend a decades-old norm that has dictated who pays real estate agents and how much, economists, agents and lenders are beginning to worry that the burden could now be on first-time home buyers. Buyers may soon have to pay out of pocket for something that had always been baked into the price. “First-time home buyers are usually the people who don’t have much cash and experience — and that experience matters,” said Daryl Fairweather, the chief economist of Redfin, the online brokerage that cut ties with the National Association of Realtors last year. The lawsuit was initially brought by home sellers in Missouri who accused N.A.R. of artificially inflating home prices by coupling commissions paid to sellers’ and buyers’ agents.

Persons: ”, Daryl Fairweather, Buyers, N.A.R Organizations: Redfin, National Association of Realtors Locations: Missouri

☆ They moved into floating homes and houseboats — and discovered a world of adventure and hidden expenses
▼ + stars: | 2024-03-25 | by ( Amanda Goh | ) www.businessinsider.com time to read: +10 min

Read previewMoving into their 360-square-foot floating home a year ago was a dream come true for Sarah Spiro and Brandon Jones. In 2023, there were 70 floating home sales reported on the Regional Multiple Listing Service, or RMLS, which covers the Portland area and a significant part of northwest Oregon, Portland Floating Homes real-estate broker John McPherson told BI. Lily and Dylan Rose moved onto their houseboat on Lake Union in Seattle in June 2019. AdvertisementHome insurance for a floating house tends to be about double what it is for a regular house on land, McPherson said. Additionally, the float — the part of the floating house that's equivalent to a foundation — deteriorates over time, McPherson said.

Persons: —, Sarah Spiro, Brandon Jones, Spiro, keepingafloatwiththejoneses Spiro, Jones, keepingafloatwiththejoneses, Adam Lind, @adam.floatinghome, It's, John McPherson, Lily, Dylan Rose, Elizabeth Earle, BI's Jordan Pandy, Earle, Elizabeth Earle Earle's, McPherson, Daryl Fairweather, Redfin's, Realtor.com, Hannah Jones, it's, Laura Woodley, Woodley, isn't, Kate Fincham, Fincham, Lily Rose, Dylan, Rose, she's Organizations: Service, Business, Portland Floating Homes, Realtor.com, Union, Trust, England & Wales, Lake Union Locations: Fontana Lake, North Carolina, Portland, Oregon, Seattle, Sausalito , California, Johns Island , South Carolina, England, Bluffers Park, Toronto, Lake, Boston

☆ Home price growth is back at pre-pandemic levels. Here's what that means for buyers and sellers
▼ + stars: | 2024-03-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"We're back to that trend, despite these higher mortgage rates," she said. However, the market today is vastly different from the market two to eight years ago, experts say. The average home is still unaffordable for most potential buyers while inventory has slightly improved but not enough to meet demand. "The sentiment we're getting from our agents is that neither sellers nor buyers are satisfied with this market," Fairweather said. And buyers are disappointed in rising prices and rising mortgage rates."

Persons: Daryl Fairweather, Matthew Walsh, It's, Fairweather, Sellers Organizations: Finance, Moody's Locations: U.S

☆ Why buying a home isn't likely to get much cheaper even under Biden's housing plan
▼ + stars: | 2024-03-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Biden has a plan to make housing more affordable, but prices might be stuck in the stratosphere. "The effect on the housing affordability crisis is going to be muted. Some of Biden's housing affordability measures would fuel demand further at a time when supply is still historically tight, according to Lawrence Yun, the chief economist of NAR. But the problem with the housing market isn't really that there isn't enough money going toward housing. It's more the red tape and the local opposition that has been the biggest barrier to building housing," Fairweather said.

Persons: Biden, —, Joe Biden's, That's, Daryl Fairweather, Fairweather, Lawrence Yun, Yun, who's Organizations: Service, NAR, Department of Housing, Urban Locations: America

☆ A 71-year-old Californian explains why she's one of many boomers reluctant to sell their large homes and downsize — and it has nothing to do with money
▼ + stars: | 2024-03-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Like Frieden, they're having a hard time finding what they need on the market. Frieden says she's surprised developers aren't doing more to meet the demand, particularly at the higher end of the market. Empty-nest boomers now own twice as many large homes as millennials with kids do, according to a recent Redfin analysis. This is making it even harder for millennials and households with kids to break into the market or upsize their homes. AdvertisementThis misallocation of housing — and shortage of larger condos and apartments — will become increasingly urgent as boomers age in homes that aren't ideal — or even safe — for them.

Persons: Deborah Frieden, —, they've, Frieden, they're, they'd, Joe's, she's, I've, Daryl Fairweather Organizations: Service, BI Locations: Oakland , California, Lake Merritt, Frieden

☆ Most homeowners and renters say housing prices will factor into their vote for president, Redfin survey shows
▼ + stars: | 2024-03-11 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Over half of US owners and renters said housing prices will inform their vote for president, Redfin said. Soaring mortgage rates and prices have made it hard for Americans to buy property. President Biden recently unveiled proposals to boost housing affordability in the US. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . February saw mortgage rates inch back up, reversing course after a period of declines as markets adjusted expectations for rate cuts from the Federal Reserve.

Persons: Redfin, Biden, —, Daryl Fairweather Organizations: Service, Qualtrics, Federal Reserve Locations: November's

Biden unveiled a plan that includes tax credits and down payment assistance to improve housing affordability. Eligible homebuyers would get this tax credit for two years, meaning you could get a total of $10,000 in tax credits for buying a house. Down payment assistanceAnother piece of Biden's plan for more affordable homeownership is the $25,000 in down payment assistance he wants Congress to provide to first-generation homebuyers. What hopeful homebuyers should knowAs a whole, this plan could substantially improve housing affordability, enabling more Americans to become homeowners. And even for homebuyers who qualify for tax credits or other assistance, saving up for a down payment remains a big barrier to homeownership.

Persons: Biden, —, Dan Green, homebuyers Biden, hasn't, doesn't, Green, Daryl Fairweather, Fairweather, White, homebuyers Organizations: Biden, Service, Federal Housing Finance Agency, Consumer Financial, homebuilders, Loan, Program, Bank of America Mortgage, Democrats

☆ I left my dream job at Google to start my own business. Sometimes I miss the security of a big tech job, but I don't regret leaving.
▼ + stars: | 2024-02-23 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +5 min

Quaid Walker worked as a design lead at Google in the movies and TV teams over five years. He decided to leave his job in 2021 to start his own business, a watch-buying platform called Bezel. AdvertisementI moved to the new team in 2018 and became one of the founding designers of Google TV. Once Google TV became popular, it no longer felt like we were trying things out and seeing what worked. Sometimes, I miss the security I had at Google, but the highs I get running my own company are much higher.

Persons: Quaid Walker, Walker, —, I'd, I've, Chase Pion, Daryl Johnson, I'm Organizations: Google, Service, Apple, Amazon Locations: Los Angeles, San Francisco

☆ Analysis-Russia Seen as Highly Unlikely to Put a Nuclear Warhead in Space
▼ + stars: | 2024-02-15 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +4 min

The Latest Photos From Ukraine View All 91 ImagesAnalysts tracking Russia's space programs say the space threat is probably not a nuclear warhead but rather a high-powered device requiring nuclear energy to carry out an array of attacks against satellites. The Kremlin on Thursday dismissed a warning by the United States about Moscow's new nuclear capabilities in space, calling it a "malicious fabrication". Exploding a nuclear weapon in space would be another matter entirely. "If they do (detonate a nuclear device in space), they’d lose everything. James Acton, a nuclear expert at the Carnegie Endowment for International Peace think tank, said for Russia to put a nuclear weapon in orbit would be a "blatant violation of the Outer Space Treaty."

Persons: Joey Roulette, Arshad Mohammed WASHINGTON, Mike Turner, Antony Blinken, Daryl Kimball, Brian Weeden, Weeden, James Acton, Acton, Arshad Mohammed, Don Durfee, Jonathan Oatis Organizations: U.S . House, Reuters, Washington, U.S, Arms Control Association, U.S . Defense Intelligence Agency, Secure, Foundation, Carnegie Endowment, International Peace Locations: Russia, Russian, United States, U.S, China, India, Ukraine, Washington, Saint Paul , Minnesota

☆ Snake Expert Rates 11 Snake Attacks and Bites in Movies
▼ + stars: | 2024-02-14 | by ( Ian Phillips | Benjamin Nigh | ) www.businessinsider.com time to read: +1 min

Sara Ruane, a reptile and amphibian curator at the Field Museum, rates snake attacks in movies based on their realism. She separates fact from fiction regarding whether you can suck venom out of a snake bite in "Babylon" (2022), starring Margot Robbie and Brad Pitt, and "True Grit" (2010), starring Jeff Bridges, Hailee Steinfeld, and Matt Damon. She breaks down the differences between venomous and nonvenomous snakes in "Snakes on a Plane" (2006), starring Samuel L. Jackson, Kenan Thompson, and Julianna Margulies. She looks at the way different characters seek to treat snake bites in Quentin Tarantino's "Kill Bill: Vol. She talks about how antivenom works in "Bullet Train" (2022), starring Brad Pitt, Aaron Taylor-Johnson, and Bad Bunny.

Persons: Sara Ruane, Margot Robbie, Brad Pitt, Jeff Bridges, Hailee Steinfeld, Matt Damon, Jon Voight, Jennifer Lopez, Harry Potter, Daniel Radcliffe, Emma Watson, Alan Rickman, Harrison Ford, Samuel L, Jackson, Kenan Thompson, Julianna Margulies, Quentin Tarantino's, Uma Thurman, Michael Madsen, Daryl Hannah, Matthew McConaughey, Aaron Taylor, Johnson Organizations: Field Museum, Raiders, Reptiles Department

☆ Spring home buying season is near. Real estate pros say this year's rush could push prices up 5% after a weak 2023.
▼ + stars: | 2024-02-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The housing market will see a stronger, prolonged spring homebuying rush this year, real estate pros say. Buyers and sellers are slowly wading back into the market as mortgage rates edge lower. That's not what economists had originally expected for the housing market this year. "Until we see mortgage rates really improve, we don't expect owners to come back very, very quickly." Affordability conditions have been steadily improving after a bad year for the housing market.

Persons: —, Redfin, Daryl Fairweather, Fairweather, Skylar Olsen, Olsen, Zillow, " Fairweather, Freddie Mac, That's, –, aren't Organizations: Service, National Association of Realtors Locations: Zillow

PHILADELPHIA (AP) — Philadelphia 76ers team president Daryl Morey expressed optimism on Friday that reigning NBA MVP Joel Embiid would return from a knee injury in time for a possible postseason run. “We're hopeful,” Morey said before the 76ers hosted the Atlanta Hawks and three days after Embiid underwent surgery on his left knee. The initial report from the 76ers said that Embiid would be “re-evaluated” in four weeks. Morey declined to describe the exact procedure that Embiid had, which would have provided a clue to the significance of the injury. “Our priority was to get a big, but we wanted to add to our playoff rotation this year,” Morey said.

Persons: Daryl Morey, Joel Embiid, “, ” Morey, Embiid, Joel, ”, Morey, Jonathan Kuminga, Paul Reed, Buddy Hield, Cameron Payne, Patrick Beverley, Furkan Kourkmas, Jaden Springer, Marcus Morris Sr, Hield, Tyrese Maxey, Payne, Maxey, ___ Organizations: PHILADELPHIA, — Philadelphia 76ers, NBA, 76ers, Atlanta Hawks, Golden State, Philadelphia, Milwaukee, Hawks Locations: Danuel, Boston, Philadelphia

PHILADELPHIA (AP) — The slumping Philadelphia 76ers have acquired guard Buddy Hield from the Indiana Pacers for Marcus Morris Jr., Furkan Korkmaz and three second-round draft picks, a person familiar with the decision told The Associated Press on Thursday. The Sixers also sent Daniel House and a 2024 second-round pick to the Detroit Pistons, the person said. The House trade creates $4.3 million in cap space as part of the traded player exception. The trades have opened salary cap and roster space for the Sixers to pursue a player on the buyout market. Hield has been one of the top 3-point shooters in the NBA for years in both volume and makes.

Persons: Buddy Hield, Marcus Morris Jr, Furkan Korkmaz, Daniel House, Daryl Morey, Joel Embiid, Hield, Tyrese Maxey, Maxey, ___ Organizations: PHILADELPHIA, Philadelphia 76ers, Indiana Pacers, Associated Press, Sixers, Detroit Pistons, NBA, 76ers, Pacers, Sacramento Kings, Utah Jazz

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

DETROIT (AP) — Prosecutors have appealed the dismissal of a manslaughter charge against a former Detroit police officer accused of causing the death of a 71-year-old man by punching him in the face and causing him to fall to the ground. The Wayne County Prosecutor's Office filed a claim of appeal Friday in the case against Juwan Brown, the office said in a news release. The Wayne County medical examiner's office determined Vance's death was caused by blunt force trauma to his head from the punch, prosecutors have said. Photos You Should See View All 45 Images“Police officers frequently deal with citizens who are disorderly and verbally unpleasant," Wayne County Prosecutor Kym Worthy said at the time Brown was charged. A call to Fishman's office Saturday wasn't answered and attempts to leave a voicemail requesting comment were unsuccessful.

Persons: Juwan Brown, Kenneth King, Brown, Jan, Daryl Vance, Vance, Kym Worthy, ” Brown, Steve Fishman, wasn't Organizations: DETROIT, — Prosecutors, Detroit, Prosecutor's, “ Police Locations: Wayne, Detroit

☆ An affordability crisis is making some young Americans give up on ever owning a home
▼ + stars: | 2024-02-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —Americans are living through the toughest housing market in a generation and, for some young people, the quintessential dream of owning a home is slipping away. Mortgage rates surged in recent years, hitting the highest levels in more than two decades last fall. CNN spoke with some young Americans about their thoughts on the current state of the US housing market and their plans for the future. “The housing market is not a single person’s market.”What typically happens when a regional housing market becomes too unaffordable is that people without the means simply move somewhere cheaper, such as a suburb an hour away, for example. Still, affordability takes into account mortgage rates, family incomes and single-family home prices, which remain a vexing pain point.

Persons: It’s, Baby, Brandie Grant, Grant, ”, “, ” Brandie Grant, Brandie, Ross, Emily Bunton, Ross Bunton, That’s, ” Bunton, I’m, Corey Griffis, ’, hasn’t, ” Griffis, Shyahm Aguilar, Shyahm Aguilar Shyahm Aguilar, Aguilar, we’ve, ” Aguilar, that’s, there’s, Fannie Mae’s, ” Mark Palim, Fannie Mae, Mario Tama, Daryl Fairweather, Redfin’s, Sofiya Vyshnevska, Vyshnevska, “ Young Organizations: DC CNN, Baby Boomers, CNN, San Francisco Bay Area, National Association of Realtors, Housing Administration, Montana State University, Federal, Housing Survey, “, NAR Locations: Washington, San Francisco Bay, United States, St, Louis , Missouri, Portland , Oregon, Mexico, Santa Fe , New Mexico, Santa Fe, Merida, Colorado, Phoenix, Queen Creek , Arizona, Minneapolis, Houston, Dallas, Austin , Texas, Tampa, Jacksonville, Orlando, Florida, Atlanta

☆ 5 ways to help boys cultivate friends and combat loneliness
▼ + stars: | 2024-01-30 | by ( Phyllis L. Fagell | ) edition.cnn.com time to read: +10 min

Like Kaden, many boys want to spend time with friends but lack the skills needed to connect. Here are five ways you can help boys form satisfying friendships to combat loneliness and its damaging effects. Do your boys have individual friends and friend groups? Help boys take social risksFor boys who need logistical help, “Say, ‘I want you to text three people,’” said Christopher Pepper, a teacher who coordinates boys’ groups in San Francisco Public Schools. Help boys read social cuesAt Sterling Hall School in Toronto, teachers facilitate community circles to teach boys how to repair friendships and show empathy, said principal Rick Parsons.

Persons: doesn't, CNN — Lori Oberbroeckling, Kaden, “, ’ ”, Oberbroeckling, ”, Ioakim Boutakidis, we’ve, Janice McCabe, She’s, ” McCabe, Mayur, Mitch Prinstein, Prinstein, Dave Keeler, Christopher Pepper, Ryan Wexelblatt, ” Boutakidis, We’re, Andrew Reiner, ” Prinstein, ‘ I’ve, Katie Hurley, Jed Foundation’s, Sameer Hinduja, Hurley, ‘, Daryl Howard, Howard, “ They’re, Rick Parsons, ’, ” Pepper, Reiner, they’re, ” Phyllis L Organizations: CNN, California State University, Fullerton, New York University, Dartmouth College, Getty, American Psychological Association, San Francisco Public Schools, Pew Research Center, Cyberbullying Research, Florida Atlantic University, Technology, Diversity, Cowboys, Sterling Hall School, Chrysalis Group, “ Locations: Phoenix, College, San, Tucson , Arizona, America, Toronto

☆ The average US homebuyer has gained $40,000 in buying power in the last 3 months as mortgage rates cool
▼ + stars: | 2024-01-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Homebuyers have gained more purchasing power as mortgage rates have edged lower. That's due to a steady decline in mortgage rates, with the 30-year fixed rate hovering around 6.7%. That's thanks to the recent decline in mortgage rates, which has taken the cost of borrowing on a 30-year fixed mortgage to around 6.7%, Freddie Mac data shows. With rates hovering around 6.7%, that means the typical homebuyer will pay $2,545 on their monthly mortgage payment – down from the median monthly payment of $2,713 when mortgage rates hovered around 7.8%. Prospective buyers shouldn't try to time interest rates before entering the housing market, Redfin chief economist Daryl Fairweather said.

Persons: Homebuyers, Redfin, —, Freddie Mac, shouldn't, Daryl Fairweather, Fairweather Organizations: Service, Fed

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