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How will the Fed interest rate hike affect you?
Source: The Daily News Online --- (TNS) – Consumers are already paying more for gas, groceries and everyday items, but they should expect to fork over more in other parts of their lives after Wednesday’s interest rate increase. The Federal Reserve’s move to rein in...
Homebuyers feeling inflation squeeze as US ‘headed for recession,’ Redfin CEO warns
Source: Fox Business --- While the housing market continues to get battered by rising interest rates and sky-high prices, Redfin's CEO warned that homebuyers are feeling the inflation squeeze as the U.S. is "headed for recession." "People who are looking to buy homes...
43% of homeowners have delayed home improvements and maintenance due to inflation. Here’s why that’s risky
Source: CNBC --- For homeowners, big projects and purchases may be another casualty of rampant inflation, new research suggests. Overall, 60% of homeowners in a recent survey are less comfortable making large purchases for their home or household because of rising...
Surging mortgage rates hitting first-time homebuyers ‘the hardest’: Real estate expert
Source: Fox Business --- While the real estate market shows signs of cooling down after the 30-year fixed mortgage rate hit its highest level since 2008, one expert issued a timely warning to first-time homebuyers: "We've seen rates even above 6%, and it's really...
Housing market slows retreat from rising seas, bigger storms
Source: AP --- Chuck and Terry Nowiski lived in their country-style farmhouse with a wrap-around porch for 36 years before it flooded. After hurricanes Matthew and Florence, they said “yes” to the state’s offer to buy their place and tear it down. Nearly three years...
Housing-Market Competition Dropped to a 15-Month Low in May
Source: Redfin --- Surging mortgage rates and home prices are causing more buyers to back off. That means sellers are less likely to receive multiple offers—but they’ll also face less competition when they buy their next home. Nationwide, 57.8% of home offers written...
