A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images Mortgage rates didn’t move last week, but demand for new home loans continued to weaken. Both home buyers and current homeowners are hampered by today’s higher interest
Real Estate
An aerial view of the sun rising above homes that burned in the Eaton Fire on January 21, 2025 in Altadena, California. Mario Tama | Getty Images A few weeks ago, the home of Dr. Damon Raskin in Los Angeles’ wildfire-stricken Pacific Palisades neighborhood burned to the ground. Yet even as he, his wife and
The Federal Reserve is expected to hold interest rates steady at the end of its two-day meeting next week, despite President Donald Trump’s comments on Thursday that he’ll “demand that interest rates drop immediately.” So far, the central bank has moved slowly to recalibrate policy after hiking its key benchmark 5.25 percentage points between 2022 and 2023 in an
Eleganza | E+ | Getty Images It’s exciting to find a new place to rent in your neighborhood or in a new city. That is, of course, unless you get duped. In so-called rental listing scams, scammers will make up listings that aren’t available for rent or simply do not exist in order to fraudulently
Burned trees from the Palisades Fire and dust blown by winds are seen from Will Rogers State Park, with the City of Los Angeles in the background, in the Pacific Palisades neighborhood on Jan. 15, 2025 in Los Angeles, California. Apu Gomes | Getty Images Insurance premiums were surging well before this year’s massive wildfires
Houses along a hillside outside Marbella on the sunny coast, Costa del Sol, in Spain. Marcus Lindstrom | Istock | Getty Images Spain is planning to impose a tax of 100% on homes bought by non-EU residents as it looks to tackle an entrenched housing crisis in the country. Spanish Prime Minister Pedro Sanchez on
Sunlight illuminates the front of a row of Victorian-era houses in a terraced street in Bristol, England. Matt Cardy | Getty Images News | Getty Images LONDON — Hundreds of thousands of U.K. homeowners are facing the prospect of higher mortgage rates after a spike in U.K. borrowing costs. Major high street lender Virgin Money
Cofotoisme | E+ | Getty Images How long it takes you to save for a 20% down payment on a home depends in part on where you live. In a pricey area such as New York City, it could take the typical buyer roughly 10.85 years to save $173,000, which is 20% of the median
Flames and smoke from the Palisades Fire surround a home (C) in the community of Topanga, California, on January 9, 2025. David Swanson | Afp | Getty Images Firefighters are still working to contain the record-breaking fires that have been raging for more than a week in Southern California. The fires in the Greater Los
The problem of stolen manhole covers in Turkey might seem an unlikely starting point for a new way for buildings to withstand earthquakes and tackle the construction industry’s environmental issues, but when a Turkish businessman heard about a new material that prevented the thefts, it sparked an idea. Cast iron is traditionally used to make
Interest rates moved lower near the end of 2024 as the Federal Reserve cut rates three times, shaving a full percentage point off the federal funds rate since September. In 2025, that trend is likely to continue. But with inflation still above the Fed’s 2% target, a strong labor market and a new administration, the central
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage demand started this year stronger than it did last year, even though interest rates are higher. Total mortgage application volume last week was 7% higher than the same week one year ago, according to