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☆ US home prices rose in February at the fastest pace in more than a year
▼ + stars: | 2024-04-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington CNN —US home-price growth accelerated in February at the fastest annual pace since November 2022, a sign that America’s housing market remains tough amid elevated mortgage rates. Of the 20 cities, San Diego saw the biggest increase in home prices in February, a steep 11.4% rise, followed by Chicago and Detroit. America’s housing market began to recover in the beginning the year as home sales surged from decades-lows in the fall and homebuilders began to feel to more upbeat about the economy. Mortgage rates have followed suit, since they track the 10-year yield. Economists don’t expect mortgage rates to drop meaningfully this year, and they could continue to climb if inflation remains stuck.

Persons: homebuilders, Freddie Mac Organizations: Washington CNN, Federal Reserve, National Association of Realtors, Treasury Locations: San Diego, Chicago, Detroit, Portland , Oregon

☆ Warren Buffett's real-estate firm will spend $250M to get out of legal hot water
▼ + stars: | 2024-04-26 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

A real-estate brokerage owned by Warren Buffett's Berkshire Hathaway has agreed to pay $250 million to settle a lawsuit over its commission fees, according to plaintiffs in the case. AdvertisementHome sellers had sued HomeServices of America, alleging it conspired to force sellers to pay inflated agent commissions. Related stories"As we move beyond this settlement, our focus remains steadfast on ethical operations, industry integrity, and delivering value," Kelly said. AdvertisementThe group of home sellers, in this case, had also sued other brokerages and have scored millions in settlements already. Among the payouts is a whopping $418 million from the National Association of Realtors that has shaken up the real-estate industry.

Persons: Warren Buffett's Berkshire Hathaway, HomeServices, Benjamin D, Brown, Cohen Milstein Sellers, Chris Kelly, Kelly Organizations: Warren, Business, National Association of Realtors Locations: America

☆ Stagflation fears just hit Wall Street. Now for the next crucial report on prices
▼ + stars: | 2024-04-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —The Federal Reserve’s favorite inflation reading is due Friday morning. Investors are nervously awaiting the report after first-quarter US GDP came in softer than expected Thursday. Stocks tumbled as the slowdown in GDP, coupled with stubbornly high inflation data, stoked fears of stagflation. Wall Street earlier this year expected that the central bank would ease rates as many as six times in 2024, beginning in March. Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report.

Persons: Stocks, ”, Ayako Yoshioka, Janet Yellen, Alessandra Galloni, Alicia Wallace, ” Yellen, “, we’ve, Yellen, Read, Freddie Mac, Bryan Mena, Lawrence Yun Organizations: CNN Business, Bell, New York CNN, Gross, Commerce Department, Atlanta, Fed, Thursday’s, Group, Traders, Bank of America, Reuters, National Association of Realtors Locations: New York, Yellen

☆ Warren Buffett’s Real Estate Brokerage Agrees to $250 Million Settlement
▼ + stars: | 2024-04-26 | by ( Debra Kamin | ) www.nytimes.com time to read: +1 min

HomeServices of America, the largest residential real estate brokerage in the United States and owned by Warren E. Buffett’s Berkshire Hathaway Energy, has agreed to settle a series of lawsuits that could change the way commissions are paid to real estate agents. On Thursday, the brokerage signed off on adding $250 million to the mounting pile of damages won by home sellers who have successfully sued several brokerages and the National Association of Realtors over what they described as inflated commissions. That settlement received preliminary approval from a federal judge on Tuesday, and now N.A.R. will pay $418 million in damages and significantly change its rules on agent commissions and the databases, accessible only by those who hold membership to N.A.R. The settlement will introduce competition to the market for real estate commissions, driving down the fees that consumers are required to pay when selling a home and eventually lowering home prices across the board as a result, some industry analysts say.

Persons: Warren E Organizations: Warren, Berkshire Hathaway Energy, National Association of Realtors, The New York Times, Industry Locations: America, United States

☆ Miami is 'ground zero' for climate risk. People are moving to the area and building there anyway
▼ + stars: | 2024-04-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +20 min

South Pointe Beach in Miami Beach, Florida. Climate risk is "always on our thoughts," said Habibian, 39, who moved to Miami-Dade County about six years ago. Despite that risk, 66% of Miami-Dade County residents said they'd never leave, according to a study published in the journal Climate Risk Management. "We try to be smart about it, try to be proactive as best we can," Arditi said of climate risk. Juxtaposed at left was one of the last remaining patches of mangroves in the urban Miami area, a living memorial to a once-thriving population.

Persons: Greg Iacurci, Daniel Habibian, Harold Wanless, Sonia Brubaker, Saul Martinez, Andrew Rumbach, Rumbach, Joe Raedle, Irma, Al Diaz, they'd, Steven Bustamante, Bustamante, Jeff Greenberg, There's, David Arditi, Arditi, Aria's, Jeff Bezos, Goldman Sachs, Douglas Sacks, Ken Griffin, Brubaker, Biscayne Bay . Miami Worldcenter, Chandan Khanna, Dion Williams, Williams, Dion, Todd Crowl, Crowl, We're, Erik Salna, Chris Baraloto, Rita Teutonico, Amy Knowles, Knowles, it's, City of Miami Beach Greg Iacurci Miami Organizations: Greg Iacurci MIAMI, University of Miami, City, CNBC, Cumming Group, Florida Department of Transportation, Bentley, Bloomberg, Getty, Urban Institute, Organisation for Economic Co, Miami, Volunteers, Florida Keys, Miami Herald, Tribune, Service, Dade, Risk, Yale University's School of, Finance, SEC, Miami Beach, Universal, Group, Aria Development, National Association of Realtors ., Miami Realtors, Amazon, Citadel, Resorts, Bloomberg News, Dade County's, Getty Images, Residences, Pointe Park, Fifth, Afp, Federal Emergency Management Agency, Management, Sunshine, Insurance, Institute, Florida International University Institute of Environment, Hurricanes, University of Pennsylvania, International Hurricane Research, of, Florida International University, City of Miami Beach Locations: Pointe Beach, Miami Beach , Florida, Miami, South Beach, Dade, City of Miami, Dade County, New York, Fort Lauderdale, West Palm, South Florida, Florida, Tampa, St . Petersburg, Miami , Florida, Southeast Florida, Miami Beach, City, Aria's Miami, U.S, California , New York, New Jersey, America, Caribbean, New York City, Biscayne Bay . Miami, Pointe, It's, Surfside, . Florida, Biscayne Bay, Miami's, Bermuda, Kampong, Coconut Grove, Brittany Bay, South Pointe, City of, Brittany Bay Park

Mortgage rates should go down later this year, increasing affordability for many hopeful homebuyers. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 7.17% this week, according to Freddie Mac. 15-year Fixed Mortgage RatesThis week, average 15-year mortgage rates were 6.44%, a five-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Freddie Mac, Lawrence Yun, homebuyers, you'll, it's Organizations: National Association of Realtors, NAR, Zillow, Federal Reserve Locations: Chevron

☆ New home sales inch higher despite 7% mortgage rates: 'There's more opportunity,' economist says
▼ + stars: | 2024-04-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

While the spring housing market has been plagued with low supply, high prices and spiking interest rates, would-be homebuyers are focusing on new construction. New homes have more incentives and availability than previously owned ones. "There's more opportunity in new construction," said Nicole Bachaud, a senior economist at Zillow Group. Meanwhile, sales for previously owned homes dropped by 3.7% from March 2023, the National Association of Realtors found. With 30-year fixed-rate mortgage rates sitting above 7%, homeowners who bought at much lower rates in recent years don't like the prospect of trading in their low rate for a higher one.

Persons: Nicole Bachaud, Biden, Bachaud Organizations: Zillow, . Census, U.S . Department of Housing, Urban Development, National Association of Realtors, Finance, Buyers Locations: U.S

☆ US pending home sales jumped in March, beating expectations by a mile
▼ + stars: | 2024-04-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —Home sales based on contract signings jumped in March despite elevated mortgage rates that month. Contract signings rose across the country in March from the prior month, except in the Midwest. Hotter-than-expected inflation readings in recent months are now keeping the Federal Reserve from cutting interest rates anytime soon. Those are the so-called “golden handcuffs” of low mortgage rates. They began to climb in early 2022 when the Federal Reserve started to hike interest rates in a bid to tamp down high inflation.

Persons: ”, Lawrence Yun, ” Oliver Allen, it’s, Yun Organizations: Washington CNN —, National Association of Realtors, Federal Reserve, Treasury, Pantheon

☆ Judge approves NAR settlement on broker commissions
▼ + stars: | 2024-04-24 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

On Tuesday, Judge Stephen Bough granted preliminary approval to the $418 million antitrust settlement in a Missouri court. Housing experts say the settlement may effectively demolish the current real estate business model. Under the terms of settlement, which was announced in March, sellers’ agents will no longer be required to offer commissions to buyers’ agents. While the settlement does not explicitly spell the end of the traditional 6% commission, split between the seller’s agent and the buyer’s agent, commissions are expected to fall because they will become competitive and negotiable. If sellers are no longer paying buyers’ agents, homebuyers may be on the hook to pay their broker directly.

Persons: Stephen Bough, Matt Hanley, ” Hanley, “ I’m Organizations: CNN, National Association of Realtors, NAR, homebuyers Locations: United States, Missouri, Minnesota

☆ A homebuyer's guide to the real-estate revolution
▼ + stars: | 2024-04-23 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Real-estate agents' commissions have fluctuated between 5% and 6% of the sale price for decades, despite advances in technology and an influx of agents. The recent lawsuits, which accused the NAR and some of the country's largest brokerages of conspiring to keep agents' commissions unfairly high, could signal the start of a new era. If sellers aren't paying out commissions to buyers' agents, buyers themselves could end up on the hook. For example, what happens if the seller isn't willing to pay the buyer's agent's commission? In most states, the buyer's agent can technically just rebate that extra money to their client.

Persons: Austin Whitt, Whitt, —, I've, Steve Brobeck, Sabrina Brown, they've, Michael Warren, Sellers, Prentiss Cox, it'll, you've, doesn't, Jack Ryan, Ryan, homebuying, Rob Hahn, Wendy Gilch, Gilch, I'm, it's, David Dworkin, Dworkin, Cox, It's Organizations: Realtors, National Association of Realtors, NAR, Consumer Federation of America, Getty, University of Minnesota, MLS, Consumer Federation of, National Housing Conference, Justice Department Locations: Tennessee, Nashville, America, North Carolina, United Kingdom, Australia

☆ New home sales surged in March despite elevated mortgage rates
▼ + stars: | 2024-04-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington CNN —Sales of newly built single-family homes in the United States soared in March despite mortgage rates remaining elevated that month. Housing market poised to remain difficultThe broader US housing market is expected to remain tough for Americans, with mortgage rates poised to stay well above 6% this year, economists say. The Federal Reserve doesn’t directly set mortgage rates, but its actions do influence them, and the central bank isn’t expected to cut interest rates anytime soon. “Despite high prices and mortgage rates, homebuyers have limited options on the resale market, although resale inventories have improved some over the course of this year,” Gregg Logan, managing director at RCLCO Real Estate Consulting, said in a note Tuesday. “The willingness of the major homebuilders to utilize incentives such as price reductions, mortgage rate buy-downs and paying buyers closings costs continue to support a healthy pace of new home sales,” he added.

Persons: ” Gregg Logan, “ Organizations: Washington CNN —, National Association of Realtors, Housing, Federal Reserve, Fed, Real Estate Consulting Locations: United States, Northeast

☆ What a buyer’s agent will do for you when you’re looking for a new home
▼ + stars: | 2024-04-22 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

The obligations of a buyer’s agent to youLegally and ethically, buyer’s agents have six key obligations to you. Obedience: While they can make recommendations, a buyer’s agent must follow your instructions, assuming you’re not asking them to do anything illegal. Such a body may be known as the real estate commission, the board of real estate or department of real estate. Find out, too, if the agent has availability that will work with your schedule, said David Kent, founder of The Real Buyer’s Agent in Charleston, South Carolina. It also may include what commission you will pay the agent if the seller of a home you buy hasn’t agreed to pay both the listing agent and the buyer’s agent, which is traditionally how it’s been done.

Persons: –, ”, Amy Lessinger, That’s, ” Lessing, Lessinger, else’s, you’re, RESPA, they’re, Jason Abrams, David Kent, Kent, ” Abrams, Abrams Organizations: New, New York CNN, National Association of Realtors, NAR, National Association of Real, Keller Williams Realty Inc Locations: New York, Charleston , South Carolina

☆ The US dollar is strengthening. Here’s what’s driving the rally and what it means for Americans
▼ + stars: | 2024-04-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

What does the dollar rally mean internationally? The US Commerce Department releases March figures on new orders for durable goods. The US Commerce Department releases its first estimate of first-quarter gross domestic product. The US Labor Department reports the number of new applications for unemployment benefits in the week ended April 20. The US Commerce Department releases March figures on household spending, income and the Fed’s preferred inflation gauge.

Persons: it’s, Michelle Bowman, Bell, Claudio Irigoyen, It’s, Samantha Delouya, ”, eMarketer, Ross Benes, Wall, Read, Lockheed Martin, Raymond James, Northrop Organizations: Washington CNN, Federal Reserve, Bank of America, Netflix, Verizon, Truist, Albertsons, The Chicago Fed, Visa, Tesla, Pepsico, Novartis, UPS, Lockheed, Banco Santander, Spotify, General Motors, Halliburton, Global, US Commerce Department, Meta, IBM, Boeing, Chipotle, Hilton, Ford, Hasbro, Whirlpool, Wyndham, Microsoft, Mobile, Caterpillar, Comcast, Intel, P Global, Honeywell, Gilead, Northrop Grumman, Valero, Capital, Nasdaq, Southwest Airlines, American Airlines, Citizens Financial, US Labor Department, National Association of Realtors, Bank of Japan, Exxon Mobil, Chevron, HCA Healthcare, Colgate, Palmolive, Phillips, Charter Communications, University of Michigan Locations: Europe, Japan, China, Roku

We could see mortgage rates start to trend down later this year if incoming data shows that inflation is coming down sustainably. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. As inflation comes down and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates should fall further as well. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Freddie Mac, they'll, Sam Khater, Freddie Mac's Organizations: National Association of Realtors, Zillow, Federal Reserve, Fed Locations: February's, Chevron

☆ I'm a New York real-estate agent who's not worried about losing guaranteed commission. Here's what I'm doing to replace those funds.
▼ + stars: | 2024-04-19 | by ( Ananya Vahal | ) www.businessinsider.com time to read: +6 min

This as-told-to essay is based on a conversation with Mukul Lalchandani, a 44-year-old real-estate agent from New York. I decided to become a real-estate agent so I could prevent other immigrant families from going through the same situation. I've lived in New York for 23 years and have been a real-estate agent for over 15 years. One of the rules is that the seller no longer has to pay a commission to the buyer's agent. Here's what the new commission rules meanThere is a lot of confusion around the commission rule and what it means, especially for buyers.

Persons: Mukul Lalchandani, It's, I've, REBNY, they'll, towners, Sellers Organizations: Service, Business, National Association of Realtors, NAR Locations: New York, Hong Kong, NY

☆ March homes sales dropped despite a surge in supply. Here's why.
▼ + stars: | 2024-04-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Rising mortgage rates are likely the cause of the slowdown. Mortgage rates stayed lower in January, in the mid 6% range on the popular 30-year fixed loan. Inventory did improve slightly, rising 4.7% month to month to 1.11 million homes for sale at the end of March. Investors pulled back a bit, making up 15% of sales, compared with 21% in February and 17% in March of last year. Mortgage rates have moved even higher this month, with the average rate on the 30-year fixed hovering around 7.5%, according to Mortgage News Daily.

Persons: Lawrence Yun, It's, Yun Organizations: National Association of Realtors, Investors, Mortgage News Locations: West, That's

☆ US homes sales dropped last month as March prices reached a record high
▼ + stars: | 2024-04-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Sales fell across the country except in the Northeast region, which saw an increase for the first time since November 2023. Rising home prices coupled with mortgage rates stuck at elevated levels means Americans are still dealing with a tough housing market. Sales might not rise meaningfully higher as the Federal Reserve signals that it won’t cut interest rates anytime soon. Then mortgage rates began to decline on hopes that the Fed would cut interest rates aggressively in 2024, but those expectations have been thrown out the window. Mortgage rates have held steady in recent weeks but are poised to rise because they track bond yields, which are climbing on persistently high inflation readings.

Persons: “, Lawrence Yun, haven’t, trickling, Yun, ” Yun, hasn’t Organizations: Washington CNN —, National Association of Realtors, Federal Reserve, NAR Locations: United States, Northeast

☆ Property values are skyrocketing in these 27 markets, lining homeowners' pockets while leaving buyers out of luck
▼ + stars: | 2024-04-18 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Buying a home was a historic challenge last year because of sky-high listing values and the highest mortgage rates since the turn of the century. Heading into 2024, the consensus among real-estate mavens is that affordability will get substantially better, largely due to declining mortgage rates. In turn, mortgage rates are now headed in the wrong direction, steadily rising from 6.6% late last year to nearly 6.9% as of mid-April. AdvertisementHome prices are persistently high — especially in these 27 real-estate marketsAll else equal, higher borrowing costs should translate to lower property prices because of lower demand from buyers. Only a dozen real-estate markets fitting that description saw property prices fall by more than 1%.

Persons: —, refinance, Point2 Organizations: Service, National Association of Realtors, Business, Federal Reserve, York Locations: Jersey City , New, New York, Rocky, California, Manhattan , New York

☆ New Rule for Buying a Home: Fire Your Real-Estate Agent
▼ + stars: | 2024-04-18 | by ( Albert Fox Cahn | ) www.businessinsider.com time to read: +12 min

She had never purchased a home, and as a lawyer, I just assumed I knew how the system worked: The buyer has an agent, but the seller pays a commission (typically 6% of the sale price) that's split between their agent and the buyer's agent. So my agent wasn't going to find me my dream house, and the work of hunting was basically on me. But the real-estate industry has made it hard for many buyers to understand just how little having an agent can help. The class-action settlement with the NAR is going to make it a lot harder for sellers to be forced to pay for buyers' agents. Going forward, for people like me without an agent, a savvy seller may pay just 3% of the sales price to their own agent instead of 6% to be split with a buyer's agent.

Persons: it's, vouched, Obvious, Stephen Brobeck, Alice, Wonderland, I'd, I've, —, cosmically, Brobeck Organizations: National Association of Realtors, Hunger, US Department of Justice, Realtors, Consumer Federation of America, New York City, NAR Locations: Brooklyn, New York City, McCarren, Williamsburg, New York

☆ Mortgage rates surge past 7%, reaching highest level since November
▼ + stars: | 2024-04-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —Mortgage rates soared this week, breaching the key 7% threshold and extending America’s home affordability crisis. Mortgage rates are climbing based on expectations that the Federal Reserve won’t cut interest rates anytime soon. Mortgage rates track the benchmark 10-year Treasury yield, which has risen to its highest level since November at 4.637%. If inflation stalls any further, or even worsens, mortgage rates could climb higher this year. Housing affordability is being stymied not just by high mortgage rates, but also by elevated home prices nationwide.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, “, Lawrence Yun Organizations: Washington CNN —, Federal, National Association of Realtors, Treasury, Index, NAR

☆ Americans are savings less these days. Here’s why and what that means
▼ + stars: | 2024-04-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. Put together, this may have resulted in “a structurally lower saving rate,” according to the report. What does the lower saving rate of nowadays say about the US consumer? Households are continuing to spend at these elevated rates and one reason is because of the lower saving rate. You’re just not seeing a reversal back to pre-Covid levels, which isn’t shocking when you look back historically to what has happened to the saving rate.

Persons: haven’t, “, Wells, Bell, Shannon Seery Grein, There’s, they’ve, we’ve, Matt Egan, ” Paul Knopp, Read, Goldman Sachs, Charles Schwab, Lorie Logan, Mary Daly, Johnson, Morgan Stanley, Jerome Powell, Loretta Mester, John Williams, Raphael Bostic, Austan Goolsbee Organizations: Washington CNN, Wells, KPMG, CNN, Gallup, T Bank, US Commerce Department, National Association of Home Builders, China’s National Bureau of Statistics, Johnson, Bank of America, PNC, The Bank of New York Mellon, Northern Trust, United Airlines, Federal Reserve, Abbott Laboratories, Discover, Citizens, Cleveland Fed, Taiwan Semiconductor Manufacturing, Netflix, Alaska Air, National Association of Realtors, Fed, US Labor Department, Procter & Gamble, American Express . Chicago Fed Locations: Wells Fargo, United States, Europe, UnitedHealth, Blackstone

Housing gloomThe higher-for-longer inflation predicament has hit the U.S. housing market like a thunderbolt. More economists are paring their bets that the Fed will cut rates after the latest Consumer Price Index report. They all argue that sticky inflation will force the Fed to keep borrowing costs higher for longer. The country is growing faster than many peers, but voters are zeroing in on inflation to explain their disapproval of President Biden’s handling of the economy. (Some DealBook readers in recent days have emailed to say that they’re strongly feeling the pain of housing inflation.)

Persons: Goldman Sachs, ” Lawrence Yun, Biden’s Organizations: Bank of America, Deutsche Bank, National Association of Realtors

☆ Mortgage rates rise after disappointing March inflation report
▼ + stars: | 2024-04-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —Mortgage rates drifted higher this week, and could increase further, in a sign that America’s affordability crisis isn’t letting up. The Federal Reserve doesn’t directly set mortgage rates, but its actions do influence them, and hotter-than-expected inflation readings could keep the central bank from reducing interest rates. That doesn’t bode well for lower mortgage rates, and economists don’t expect rates to fall below 6% this year, especially if the Fed does not end up cutting interest rates. Inventory gains could improve affordabilityMortgage rates are not expected to drop meaningfully this year, but further improvement in housing inventory could improve affordability. A lack of homes has been a longstanding issue keeping America’s housing market unaffordable and is especially frustrating for first-time buyers.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, doesn’t bode, Joe Biden Organizations: Washington CNN —, Federal Reserve, “, Federal, Treasury, National Association of Realtors, Homeowners, Fed

A hotter-than-expected inflation report has pushed back expectations for a Federal Reserve interest rate cut. This means mortgage rates are likely to remain elevated for longer than many forecasters had anticipated. This would keep mortgage rates elevated throughout the summer homebuying season, when many home shoppers will be looking to get a mortgage. "March inflation figures were very bad, which also means bad news for interest rates," Lawrence Yun, chief economist for the National Association of Realtors, said in a blog post reacting to March's CPI data. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Lawrence Yun, you'll, Fannie Mae Organizations: Federal, Labor Statistics, National Association of Realtors, Zillow, Mortgage, Association, Sky Locations: Chevron

Morgan Stanley raised its price target on Nvidia, calling for more than 15% upside going forward. — Lisa Kailai Han 5:53 a.m.: Jefferies lowers Tesla price target, cites 'self-inflicted' wounds Tesla's troubles may not be over yet, according to Jefferies. The investment firm kept its hold rating on the electric vehicle maker and lowered its price target to $165 from $185. Jefferies analyst Philippe Houchois also said Tesla is plagued by shifting product priorities. — Lisa Kailai Han 5:53 a.m.: Morgan Stanley raises Nvidia price target Nvidia has already rallied more than 72% in 2024.

Persons: Morgan Stanley, Jefferies, Patrick Cunningham, Erik Fyrwald's, Cunningham, — Lisa Kailai Han, Zillow, John Colantuoni, Colantuoni, Scott Schoenhaus, Schoenhaus, Lisa Kailai Han, Hess, Betty Jiang, CVX, Jiang, Tesla, Philippe Houchois, Joseph Moore, Moore, — Fred Imbert Organizations: CNBC, Nvidia, Citi, Management, & Biosciences, Jefferies, National Association of Realtors, Markets, GDRX, Barclays, Chevron, NVIDIA, AMD Locations: Tuesday's, China

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