Monday, December 23

Tag: buying

What Fed Rate Cuts Mean for Home Buyers in 2024
14Dec By adminNo Comments
Money

What Fed Rate Cuts Mean for Home Buyers in 2024

Getting a mortgage should be slightly less painful in 2024.On Wednesday, the Federal Reserve said it expected to cut interest rates three times next year. The Fed’s forecast brings a dose of holiday cheer to hopeful home buyers who have felt squeezed out of the market.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Washington Quietly Scrapped a Plan to Save Homeowners Thousands of Dollars
22Nov By adminNo Comments
Money

Washington Quietly Scrapped a Plan to Save Homeowners Thousands of Dollars

WASHINGTON—The Biden administration pushed to save homeowners thousands of dollars in closing costs on certain mortgages, part of a broad effort to slash fees and save Americans money. Objections from an obscure industry and from lawmakers helped kill the plan.Government-controlled mortgage giant Fannie Mae was preparing this summer to finalize a program to test out eliminating one of the biggest fixed costs associated with closing on a mortgage: title insurance. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Buying a House Isn’t Happening, So They’re Spending and Saving Differently
10Nov By adminNo Comments
World

Buying a House Isn’t Happening, So They’re Spending and Saving Differently

Updated Nov. 10, 2023 9:45 am ETListen to article(2 minutes)Would-be home buyers are giving up on the housing market and finding other ways to use the money they had been saving.With mortgage rates near 8% and average home prices hitting record highs, sales of existing homes were down 15.4% year-over-year in September, according to the National Association of Realtors. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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When You Give Up on Buying a House, What Do You Do With the Down Payment?
10Nov By adminNo Comments
Money

When You Give Up on Buying a House, What Do You Do With the Down Payment?

Listen to article(2 minutes)Would-be home buyers are giving up on the housing market and finding other ways to use the money they had been saving.With mortgage rates near 8% and average home prices hitting record highs, sales of existing homes were down 15.4% year-over-year in September, according to the National Association of Realtors. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Glynn’s Take: RBA Policy Decision Seems Too Tough to Call With Cautious Bullock at the Helm
2Nov By adminNo Comments
World

Glynn’s Take: RBA Policy Decision Seems Too Tough to Call With Cautious Bullock at the Helm

Nov. 2, 2023 2:16 am ET|WSJ ProSYDNEY—The Reserve Bank of Australia’s decision next week on whether to resume raising interest rates in response to higher-than-expected third-quarter inflation is too close to call.That’s because the RBA’s tightening cycle is already well advanced, with a lot of the pain of the prior run of rate hikes yet to be felt by companies and home buyers. The threat of a spike in mortgage defaults and business failures will grow sharply if loan repayment costs rise much further.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Stay on top of inflation and monetary policy.News and commentary to help you monitor and analyze shifts in the world economy and the policies of central banks.
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A Big Legal Defeat for the Realtors
1Nov By adminNo Comments
Health

A Big Legal Defeat for the Realtors

The National Association of Realtors has objected to our editorials challenging its anti-competitive business model, but what do you know. On Tuesday a federal jury found the Realtors liable under U.S. antitrust laws for conspiring to fix prices in the class-action case Burnett v. NAR.Missouri home sellers challenged a Realtor rule requiring seller agents to provide a blanket offer of compensation to a buyer’s broker to list a home on the association’s affiliated multiple-listing service (MLS). These databases of homes for sale are similar to stock exchanges in that they match brokers and sellers. They are also de facto monopolies.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Home Sellers Take On the Realtors Cartel
23Oct By adminNo Comments
Business

Home Sellers Take On the Realtors Cartel

The 1.5 million-member National Association of Realtors spent $81.7 million on political lobbying in 2022, more than any other business group. Behind the teachers unions, it ranks as the most powerful special interest in the country. Though it claims to help consumers, it is a cartel that seeks primarily to enrich its members by expanding government control over middle-class Americans’ largest source of wealth: their homes.Consider Burnett v. NAR, a federal class-action suit that Missouri home sellers have brought against the association. The case, which went to trial last week, presents an existential threat to the cartel. If the plaintiffs prevail, home buyers and sellers could save $120 billion in fees each year. Half of the country’s real-estate agents who work as buyer brokers might ...
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There’s Never Been a Worse Time to Buy Instead of Rent
23Oct By adminNo Comments
Money

There’s Never Been a Worse Time to Buy Instead of Rent

Getting on the property ladder has rarely been tougher for first-time buyers. But a tight housing market isn’t turning out to be a bonanza for landlords either.The cost of buying a home versus renting one is at its most extreme since at least 1996. The average monthly new mortgage payment is 52% higher than the average apartment rent, according to CBRE analysis. The last time the measure looked out of whack was before the 2008 housing crash. Even then, the premium peaked at 33% in the second quarter of 2006.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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