Real Estate Industry News & Insights
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Mortgage rates are at a 20-year high. Here’s what that means for monthly payments.
Source: ABCNews --- The spike in mortgage rates this week continues a monthslong trend that has dramatically escalated the cost of home loans - but the exact price hike may surprise some homebuyers. The 30-year fixed-rate mortgage leapt to 7.08% on Thursday, reaching...
The Hottest Housing Market In America
Source: 24/7 Wall St. --- There is a real concern that the extremely hot housing market has started to collapse, especially in markets where prices have surged at record paces. One of the threats is due to mortgage rates that have risen from 3% a year ago to 7%...
Utah competition seeks big solutions to affordable housing
Source: Salt Lake Tribune --- The affordable housing crisis isn’t unique to Utah, but Utah may be the place to bring solutions together. A national rent report from Zumper indicates the cost of rent is rising nearly twice as quickly as it was last April. The U.S....
Housing industry getting hit by ‘perfect storm,’ billionaire real estate developer warns
Source: Fox Business --- Billionaire real estate developer Jay Bloom warned consumers Thursday the housing industry is getting hit by the "perfect storm." "We're in the middle of a real estate boom like we haven't seen in the past," Bloom told "Cavuto: Coast to...
Pandemic Homebuyers Flocked to the Sun Belt for Better Prices. Now, You’ll Need 40% More Income to Afford a Home There.
Source: Redfin ---Homebuyers in nearly every part of the country have felt the impact of surging housing prices since the start of the pandemic—but especially those in the Sun Belt, which has seen costs skyrocket even more than other areas as out-of-towners flock in....
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