The impending reauthorization deadline for the National Flood Insurance Program (NFIP) by the end of September could cause major disruptions in the housing market. The need for this government-sponsored flood insurance program is crucial for homeowners, especially those situated in flood-prone areas. This could potentially affect the ability to buy or sell a home, as
Real Estate
Affordable housing is a vital component of Vice President Kamala Harris’ proposed “opportunity economy,” as highlighted in a recent economic policy address. Harris emphasized the importance of making homeownership more accessible and affordable in the United States. During her speech in Raleigh, North Carolina, she expressed the need to increase the supply of housing units
The shareholder returns for leading homebuilders such as D.R. Horton and Lennar have shown growth above the S&P 500 index between August 2014 and August 2024. Despite this positive trend, analysts have recently downgraded their investment outlook for these companies in the current market environment. The mixed signals from industry experts have left investors with
In July, closed sales of previously owned homes increased by 1.3% compared to June, reaching a seasonally adjusted annualized rate of 3.95 million units. This marked the first increase in five months, although sales were still 2.5% lower than the same time last year. The Northeast saw the biggest gains in sales, while the Midwest
The recent decrease in mortgage rates for the third consecutive week did not lead to a surge in refinance applications. In fact, there was a 15% drop in applications to refinance a home loan. This decline may be surprising given the lower rates, but it is important to note that the volume was actually 90%
In the aftermath of the Bank of England’s first interest rate cut in four years, Britain’s major high street lenders have been actively reducing their borrowing costs. The likes of Barclays, Halifax, HSBC, and NatWest are now offering attractive five-year fixed rate mortgages at rates of under 4%, which is below the BOE’s key rate
Inflation rates continued to decrease in July, with the consumer price index (CPI) rising by 2.9% from a year ago, as reported by the U.S. Department of Labor. This marks a decrease from the 3% inflation rate in June, representing the lowest reading since March 2021. The CPI encompasses a wide range of goods and