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If either of these reports come in hotter than expected, mortgage rates could spike up. 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. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.11%, a 10-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, of Labor Statistics, Zillow Locations: Chevron

☆ A record 550 cities now have average home values above $1 million
▼ + stars: | 2024-04-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

A record number of US cities have an average home price of more than $1 million. AdvertisementA record number of US cities have an average home value of more than $1 million — a sign that the housing market is becoming increasingly out-of-reach for some Americans as prices continue to soar. The US has 550 cities where the typical home value is north of seven figures, according to a recent Zillow report. That's the highest number of so-called "million-dollar" cities ever recorded, the real-estate-listings site said, up from 491 a year ago. This story is available exclusively to Business Insider subscribers.

Persons: Zillow, — Organizations: Service, Business Locations: California

☆ Home prices will continue to appreciate as long as there is limited supply, says Zillow Co-Founder
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome prices will continue to appreciate as long as there is limited supply, says Zillow Co-FounderSpencer Rascoff, Zillow co-founder, joins 'Closing Bell Overtime' to discuss the state of the housing market as home prices remain elevated in a tight market.

Persons: Zillow, Spencer Rascoff

☆ Jeff Bezos snaps up a 3rd Miami-area mansion for $90 million
▼ + stars: | 2024-04-02 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Jeff Bezos just bought a third mansion on the Miami-area island known as "Billionaire Bunker." Bezos paid $90 million for the home, which last sold for $2.5 million in 1998, Bloomberg reports. Bezos previously purchased multiple neighboring Seattle-area homes for his security and staff. The billionaire Amazon founder purchased a third home on Indian Creek island for $90 million in an off-market transaction, Bloomberg reported. Bezos first bought a $68 million waterfront mansion on Indian Creek in August.

Persons: Jeff Bezos, Bezos, —, Ivanka Trump, Tom Brady, snagged, Blue, Madeline Berg, Katherine Long Organizations: Bloomberg, Service, Amazon, Seattle Locations: Miami, Seattle, Biscayne Bay, Canaveral, Beverly, Texas, Hunts

Average 30-year mortgage rates have dropped a bit in recent weeks and are hovering around the mid-6% range, according to Zillow data. 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. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.11% last week, according to Freddie Mac data, which is a 10-basis-point decrease from the previous week. 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 Organizations: Federal, Zillow, Federal Reserve, Fed Locations: Chevron

☆ The Long, Strange Decline of Iconic Chicken Soup for the Soul Brand
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. What began as Chicken Soup for the Soul board games and calendars turned into pet food, barbecue sauce, and — yes — soup. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

Persons: I'd, I've, who'd, John Wayne, Jack Canfield, Canfield, Oprah Winfrey, Tony Soprano's, Russ Kamalski, Laurel, Hardy, Tyler Le, Americus Reed, hadn't, he'd, Johnny Nunez, Getty, Clement Stone, Stone, Napoleon Hill's, Norman Vincent Peale's, Mark Victor Hansen, Hansen, Bennett Raglin, let's, Mark Twain, They're, they'd, Kamalski, Preteen's, Christian Woman's, Mother's, —, Wayne Booth, Booth, Barbara Ehrenreich, David Gray, Amy Poehler, Kenan Thompson's, Patty Aubery, I'm, I, blurbing, Bill Rouhana, Amy Newmark, Newmark, Rouhana, Winstar, Ashton Kutcher, Isaac Brekken, Kevin, Reddit, Chicken, Redbox, You've, We're, Kevin fumed, hicken, orth, ince, eason, rance, ike, osses, ives, ake Organizations: John, Hyatt Regency, Soul Entertainment, Nasdaq, Americus, Wharton, Hyatt, Harvard, Triple, Beverly, Hotel, Canfield, University of Chicago, Oklahoma State, Washington Post, Wall, Company, Connecticut —, NASCAR, Hollywood, Consumer Federation of America, CSSE, Hindenburg Research, Sony Pictures Television, GameStop, YouTube, Soup, ust, anfield Locations: Newport Beach , California, Indonesian, Crackle, Canfield, Nigeria, Japan, France, Ohio, West Virginia, Mali, New York, Anaheim, Florida, ,, Teacher's, Baltimore, China, Australian, Darfur, Southern California, Greenwich , Connecticut, Connecticut, Zillow, Canadian, Wells Fargo's, Redbox, ife

☆ The Long, Strange Decline of One of America's Most Influential Brands
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." By 2003, research found that more young readers seeking solace turned to the Chicken Soup series than to the Bible. What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

☆ I paid just $135,000 for my house when homes in the area are going for twice that. Here's how.
▼ + stars: | 2024-03-31 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

The couple paid less than usual for the area by going through a community land trust, or CLT. Community land trusts allow low-income homebuyers to purchase homes at a reduced price in exchange for the trust's retaining ownership of the property's land. Community land trusts were an unfamiliar conceptI learned about community land trusts while driving through a neighborhood. It's a community housing organization that offers homebuyer education and also sells affordable homes through a community land trust program. Our lives are much betterWhen buying a land trust home, not only do you have to qualify for the land trust program, but you also have to qualify for a mortgage at the bank.

Persons: Melisa Gomez, Romo, —, It's, Gomez, we're Organizations: Service, Romo, Land Trust Locations: Duluth , Minnesota, Minnesotans, Duluth, Fayetteville , Arkansas, . Duluth, El Salvador, Mexican

Mortgage rates were a bit lower this month compared with February. High inflation and Federal Reserve rate hikes helped push mortgage rates up over the last couple of years. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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. This is good news for mortgage rates — as inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: Fannie Mae Organizations: Mortgage Bankers Association, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

This week, 30-year mortgage rates averaged 6.37%, according to Zillow data. Most major forecasters expect mortgage rates to decline in 2024, but so far we haven't seen any signs of a sustained drop. As we get more data showing that inflation is cooling, mortgage rates should start trending down more definitively. The sooner the Fed can start cutting rates, the sooner mortgage rates will start to fall. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Commerce Department, Fed, Zillow, Mortgage, Association, Sky Locations: Chevron

Average 30-year mortgage rates have dropped nearly 30 basis points from a week ago, according to Zillow data. 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. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Fall (-0.27%)The current average 30-year fixed mortgage rate is 6.32%, down 27 points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Decrease (-0.33%)The average 15-year mortgage rate is 5.64%, down from last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Increase (+0.69%)The average 30-year refinance rate is 7.69%, 69 basis points higher than last week.

Persons: you'll, It's, refinance Organizations: Federal Reserve, Zillow, FHA Locations: Chevron

Mortgage rates have been inching down this week, and they're expected to fall further later this year. Once the Fed begins cutting rates, mortgage rates should trend down more permanently. But until we get more data showing that price growth is moderating, mortgage rates may be somewhat unpredictable. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.21% last week, according to Freddie Mac data.

Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, Investors, Zillow Locations: Chevron

As the weather warms up and we head into the homebuying season, high mortgage rates should keep home prices from rising too fast. 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. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.21%, a five-basis-point increase from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Selma Hepp, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron

Mortgage interest rates have decreased in recent days after climbing last week. Mortgage interest rates aren't directly tied to the Fed rate. 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. 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 Organizations: Reserve, Zillow, Federal Reserve, Fed Locations: Chevron

☆ Squatters took over a Beverly Hills mansion worth millions for 5 months
▼ + stars: | 2024-03-26 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

Squatters who took over a Beverly Hills mansion for five months seemed to take the saying literally. The squatters made money off of the home by hosting parties with entrance fees from $500 to $1,500, Curbed reported. According to Curbed, Yamout purchased the home in 2021 from Notre Dame Properties, which is allegedly "controlled" by Uwaydah. AdvertisementYamout took legal action against the squatters, filing an unlawful detainer lawsuit to evict them, Curbed reported. Gargiulo told Curbed that he has no regrets about living in the mansion or the headaches he brought the residents of Beverly Grove Place.

Persons: —, Morgan Gargiulo —, Gargiulo, John A, Woodward IV, LeBron James, Jennifer Lopez, Ben Affleck, Woodward, didn't, he'd, Adel Yamout, Yamout, Damon Dash, Munir Uwaydah, Michael, Harry, Harris, Donald Trump, I've Organizations: Service, Beverly Hills, Beverly, Los Angeles, Row Records, Notre Dame Properties, Uwaydah, Business Locations: Los, Los Angeles, Beverly, Beverly Hills, Beverly Grove, Woodward, California

☆ Vacation home co-ownership platform Pacaso expands to lower-priced listings
▼ + stars: | 2024-03-26 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Luxury vacation home co-ownership platform Pacaso is attempting to appeal to the masses, as it grows its business during a pricey and competitive phase of the housing market. The company, which launched in 2020 with multimillion-dollar homes listed for co-ownership, is now introducing thousands more listings with share prices starting as low as $200,000. Pacaso lists shares of vacation homes, generally an eighth but sometimes larger shares, and then facilitates the purchase, including financing if necessary. Unlike timeshares in resorts, where consumers buy the time, not the property, Pacaso owners can benefit from the home's value, which usually goes up over time. So the Pacaso shares generally track with the underlying real estate," said Allison.

Persons: Austin Allison, Allison, Pacaso, hasn't, it's Organizations: Pacaso Locations: Colorado, Hawaii, Sonoma , California, St, Helena , California, Sonoma

☆ Match adds two directors in deal with activist investor Elliott Management
▼ + stars: | 2024-03-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Tinder and Hinge operator Match Group added two new directors and signed an agreement with Elliott Management, months after the activist investor was reported to have taken a stake in the company, Match announced Monday. The appointments come after a "constructive" dialogue with Elliott that resulted in an information-sharing agreement, Match said in a release. Such agreements allow activist investors to have insight into the company's finances and operations, above and beyond what everyday investors have. Elliott is one of the most prolific activist investors in the space. The Wall Street Journal reported in January that the activist had an economic interest of around $1 billion.

Persons: Laura Jones, Zillow, Spencer Rascoff, Elliott, Marc Steinberg Organizations: Elliott Management, Instacart, Match, Street

Today, 30-year mortgage rates are hovering in the mid-6% range, according to Zillow data. As inflation slows and the Fed is able to lower rates, mortgage rates are expected to go down, too. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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. This is good news for mortgage rates — as inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: Fannie Mae Organizations: Reserve, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

☆ Adding features, such as an outdoor TV or pizza oven, can help sell your home for over $10,000 more, research finds
▼ + stars: | 2024-03-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

If your home boasts certain trendy outdoor features, you may be able to sell it for more in today's market. These sets have weatherproofing features to help them withstand exposure to precipitation and extreme temperatures, and can cost significantly more than standard indoor sets. Other backyard features that may push sale prices higher include having an outdoor shower, which may help push sales up 2.6%; a bluestone patio, which is tied to a 2.3% increase; she shed, 2%; pizza oven, 1.9%; and outdoor kitchen, 1.7%. The results come from Zillow's analysis of sale premiums for 359 features across one million home sales for 2023. "This year was really all about the backyard features," said Zillow home trends expert Amanda Pendleton.

Persons: Amanda Pendleton

☆ 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

Mortgage rates have been elevated over the last couple of months. Thirty-year mortgage rates have averaged 6.50% in March, just two basis points below where they were in February. Forecasters at the Mortgage Bankers Association, Fannie Mae, the National Association of Realtors, and elsewhere have been predicting that mortgage rates will start trending lower soon. The sooner the Fed can start cutting rates, the sooner mortgage rates will start to fall. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Fannie Mae, they've, you'll Organizations: Mortgage Bankers Association, National Association of Realtors, Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Consumer advocates — and even some Realtors — hail NAR settlement: 'We've opened up the entire industry to competition'
▼ + stars: | 2024-03-24 | by ( Rob Wile | ) www.cnbc.com time to read: +6 min

Now, a landmark settlement with the National Association of Realtors is poised to upend this model. According to consumer advocates, and even some Realtors, it's a win for homebuyers and sellers. And in the months following Covid-19 pandemic reopenings, the hottest U.S. real estate markets were tipped squarely in favor of sellers. It's the same amount of money, but now the buyer gets money instead of a buyer agent, and they can decide what to do with it." What's more, greater competition for clients is likely to result in lower costs across the board, said Ryan Tomasello, a real estate industry analyst with the Keefe, Bruyette & Woods financial firm.

Persons: it's, Mariya Letdin, Letdin, they'll, Doug Miller, Miller, Ryan Tomasello, Keefe, Tomasello, Phil Crescenzo Jr, Crescenzo Organizations: National Association of Realtors, Realtors, homebuyers, Florida State University's College of Business, NBC News, U.S, NAR, Nation One Mortgage Corp Locations: Alhambra , California, Minnesota, Woods

Though they spiked up earlier this week, mortgage rates have inched down over the past few days and are in line with last week's levels. Once the Fed cuts rates, mortgage rates should start to trend down, too. 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. 15-Year Fixed Mortgage Rates Back Below 6% (-0.10%)The average 15-year mortgage rate is 5.93%, down from last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: they're, you'll, It's, refinance Organizations: Federal Reserve, Zillow, FHA Locations: Chevron

☆ Could real estate go the way of the travel industry? Not just yet
▼ + stars: | 2024-03-23 | by ( John Towfighi | ) edition.cnn.com time to read: +5 min

Sites like Redfin and Zillow provide a way for buyers and brokers to connect online, but the role of real estate agents in closing purchases has persisted. “Ultimately, people will understand what real estate agents really do, especially on the buy side,” Piskorski said. But even with the possibility of major changes, Hale said, one thing will almost certainly remain the same for real estate agents. Currently, the framework of real estate solely emphasizes the buy and sell transaction, said John Bodrozic, co-founder of HomeZada, a real estate tech company. Yet what ultimately differentiates a travel agent from a real estate agent is the value and risk associated with the purchase.

Persons: Tomasz Piskorski, ” Piskorski, Danielle Hale, ” Hale, Hale, “, John Bodrozic, Bodrozic, ”, Bobby Juncosa, Piskorski, ” Juncosa, Juncosa Organizations: CNN — Technology, National Association of Realtors, Columbia Business School, NAR, CNN, Buyers, ” Finance

☆ What a $418 million settlement on home-sale commissions may mean for you
▼ + stars: | 2024-03-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

As proposed, the settlement would have the NAR completely remove commissions from its MLS system by July. watch nowIn the meantime, it's "business as usual" for buyers and sellers, Cobreiro said. What the settlement could mean for homebuyersThe settlement agreement doesn't say that the buyer's agent will not be paid nor that the buyer's agent cannot charge fees. While commission fees are negotiable between involved parties, knowing what cards you have on the table as a homebuyer will be more important now than before. As a result of the settlement, the seller will no longer be responsible for commission fees for a buyer's agent.

Persons: Cobreiro, Cobriero, Amanda Pendleton Organizations: MLS, Zillow, Federal Reserve

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