According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes continued to expand, rising 6.1 percent in February to a seasonally adjusted annual rate of 592,000 units. “February’s increase in new home sales is consistent with builders’ growing confidence in the housing market,” said
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When Rosemarie Roussel sold her one-bedroom co-op in Midtown Manhattan in late 2015, she also lined up a great deal on her next home: the same apartment. Mrs. Roussel, 82, a retired fashion designer, sold her roughly 675-square-foot unit in October 2015 to her next-door neighbors for $585,000—$36,000 above asking price, plus a special request.
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The 30-year fixed-rate mortgage surged to its highest average of the year this week, reaching 4.21 percent, Freddie Mac reports in its weekly mortgage market survey. “The 10-year Treasury yield rose about 10 basis points this week,” said Sean Becketti, Freddie Mac’s chief economist. “For the first time in weeks, the 30-year mortgage rate moved
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There’s about $13.1 trillion stashed away in the United States, in plain sight. Where? In our homes! Do we have your attention yet? That’s the total value of the equity held by over 75 million U.S. homeowners, according to the latest estimates from the Federal Reserve Board. And that works out to almost $175,000 per owning
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