Finance

May 26, 2021

How inflation affects personal finance

From gas and groceries to computers, cars and clothing, Americans are already paying more for everyday expenses.

As the economy reopens in the wake of the coronavirus pandemic, consumers are putting their stimulus checks, enhanced unemployment benefits and stashed cash to work.

Yet all that spending — coupled with supply ...

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Posted in Finance
May 23, 2021

Second home mortgages skyrocket

The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study.

Redfin Chief Economist Daryl Fairweather said the numbers are likely exaggerated because demand for second homes ...

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Posted in Finance
May 17, 2021

Mortgage rates rise, but remain under 3%

For the second consecutive week, mortgage rates managed to hold steady below 3%, rising one basis point last week to 2.98%, according to Freddie Mac’s Primary Mortgage Market Survey.

In light of the rising COVID-19 caseloads globally, U.S. Treasury yields stopped moving up a month ago and have ...

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Posted in Finance
April 15, 2021

Asking prices of newly listed homes reach all-time high

Home prices are sky-high, and a recent report from Redfin underlines that point with some staggering data.

Median home-sale prices increased 17% year-over-year to $335,613 – a record high, per data taken from more than 400 metro areas during the four-week period ending March 28, 2021. And asking prices ...

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Posted in Finance
March 17, 2021

Mortgage rates jump to 2.81%

After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac’s Primary Mortgage Market Survey.

While economic spending has improved, due to the most recent stimulus, supply chain shortages ...

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Posted in Finance
March 10, 2021

How much an average home costs and suggested income needed to afford it

As the country went under lockdown, Americans were on the move.

Over the last year, 1 in 20 adults moved from where they were living either permanently or temporarily due to the coronavirus outbreak, according to a recent report by the Pew Research Center.

Most cited financial reasons for relocating ...

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Posted in Finance
March 9, 2021

Mortgage rates rise to highest point since July

Mortgage rates made a notable jump this week, hitting their highest point since last July.

According to the Mortgage Bankers Association, the average rate on 30-year mortgage loans is now 3.23%—up from 3.08% the week prior and the biggest week-over-week jump in nearly a full year.

For ...

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Posted in Finance
Feb. 1, 2021

Three retirement risks and how to beat them

There are three risks that are most likely to derail retirement plans. The risks are real and substantial, almost regardless of an individual’s net worth. Fortunately, the potential damage from the risks can be reduced.

Longevity risk is talked about a lot by economists and financial advisors but not by ...

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Jan. 30, 2021

Mortgage rates hold steady at 2.77%

The average mortgage rate for a 30-year fixed loan fell two basis points last week to 2.77%, according to Freddie Mac’s Primary Mortgage Market Survey. Now 12 basis points above the record low set Jan. 7, rates more closely resemble those seen over two months ago.

The 15-year fixed ...

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Posted in Finance
Jan. 22, 2021

Mortgage rates fall to another record low at 2.71%

The average U.S. mortgage rate for a 30-year fixed loan fell one basis point this week to 2.71%, Freddie Mac said in a report on Thursday – the lowest rate in the survey’s near 50-year history. This week’s rate broke the previous record set on Nov. 19.

The ...

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Posted in Finance