U.S. household wealth rose to a record of more than $160 trillion in the first three months of 2024 thanks to the stock market's record run and gains in real estate, Federal Reserve data showed on Friday.Household net worth rose 3.2%, or by $5.1 trillion, with the appreciation of equity holdings accounting for the lion's share of the gain at $3.8 trillion, the Fed said in its quarterly snapshot of the nation's private and public sector finances.T
Freddie Mac says rates could decline modestly throughout the remainder of the year.Borrowing costs are on the decline again, with mortgage rates falling slightly this week following last month’s surge, which was blamed for cooling the housing market. The 30-year fixed-rate mortgage averaged 6.99%, and further drops—although minor—could be on the way, Freddie Mac reports.“Mortgage rates retreated this week given incoming data showing
You have heard of VR and maybe even AR, but have you heard about XR? XR stands for extended reality and is an umbrella term for virtual, augmented, and mixed reality technologies. It is also the term the architecture and engineering industries use for the immersive 3D imaging being deployed on construction sites worldwide.One significant difference between XR and VR/AR is that XR doesn’t require a headset. Many extended reality applications sim
Imagine being whisked away to a breathtaking location, exploring its nooks and crannies at your own pace, all from the comfort of your couch. This isn’t some fantastical dream; it’s the power of 360° panoramic virtual tours. These immersive experiences are revolutionizing the way we explore the world, offering a captivating blend of reality and virtuality. A Portal to New Destinations Unlike traditional photos or videos, 360° virtual
Owning a waterfront property is a dream for many Americans. Here’s where your clients can snag a beach house in the U.S. for under $450,000.Most Americans say they dream of owning a vacation home, according to a new realtor.com® survey, and many hope it’s near a beach. But beachside property often comes with a hefty price tag.Realtor.com® found pockets across the country offering bargains on the beach in its list of America’s 10 most
They could save “hundreds of dollars a month” by doing this one simple task, a housing expert says.As mortgage rates once again move above 7% this week, more home buyers may be desperate for savings to better afford homeownership. But housing experts say a common mistake could be costing them thousands of dollars in potential savings: failing to shop around for their mortgages.Slightly more than half—54%—of recent buyers who recently took
‘We’ve witnessed records repeatedly break in both stock and housing markets over the past year,’ Brian D. Luke at S&P Dow Jones Indices says The numbers: Home prices in the 20 biggest U.S. metros hit another all-time high, as the housing market remains hampered by a low number of properties for sale.The S&P CoreLogic Case-Shiller 20-city house price index rose 0.3% in March compared to the previous month. Home prices in th
“But the Federal Reserve’s anticipated rate cut later this year should lead to better conditions, with improved affordability and more supply,” says NAR’s chief economist.As mortgage rates climbed above 7% in April, would-be home buyers appear to have pressed pause, revisiting their house-shopping budgets. As a result, pending home sales dropped nearly 8% in April. However, housing experts predict a turnaround could be coming soon.The Nat
Consumers may be distracted by fancy fixtures and finishes during a home tour, overlooking more serious problems, researchers say.Eighty-two percent of home buyers express regrets about their recent property purchase, according to a new survey(link is external) from Clever Real Estate. Their most common regret: buying a home that requires too much maintenance.Twenty-eight percent of home buyers say they were shocked at the cost and time
It’s no secret that housing costs have become increasingly expensive over the past few years, and there’s no sign of a drastic market change anytime soon. Hopeful first-time buyers are arguably experiencing the crunch more than anyone else, with many feeling like their long-held dream of purchasing real estate is simply out of reach. What clients may not realize is that there are numerous financial solutions available that can alleviate some
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