Real Estate

Aleksandarnakic | E+ | Getty Images A construction boom in the U.S. has resulted in lower rents and other benefits for renters. Record-construction activity since the pandemic has increased the supply of empty units, meaning more inventory is available for renters. More multi-family units were completed in June than in any month in nearly 50

Iuliia Isaieva | Moment | Getty Images Homeowners are sitting on$17 trillion in equity as of the end of the first quarter of 2024, according to CoreLogic. The average homeowner gained $28,000 in equity compared to a year earlier. For many people, there’s no need to touch that money. Home equity is “not like bread,”

The U.S. economy has remained remarkably strong even amid persistent inflation and high interest rates. And yet, 59% of Americans falsely believe that the U.S. is currently in a recession, according to a recent survey of 2,000 adults by Affirm in June. Citing higher costs and difficulty making ends meet, most respondents said they think

Brandi Schmitt and her family pose for a 2018 Christmas card in front of their Maryland home wearing protective gear, alluding to the water and mold damage in their home. Each year, Schmitt said they try to capture the family’s situation through their Christmas card. Courtesy: Brandi Schmitt When a nor’easter struck in 2018, intense

Democratic vice presidential candidate and Minnesota Governor Tim Walz (L), and Republican Vice Presidential candidate Sen. JD Vance (R-OH). Getty Images With the major party tickets finalized, many voters are watching the candidates for personal finance policy that could impact their wallets.  Vice President Kamala Harris this week unveiled her running mate, Minnesota Gov. Tim

An aerial view shows a subdivision that has replaced the once rural landscape in Hawthorn Woods, Illinois. Scott Olson | Getty Images Mortgage interest rates dropped last week to the lowest level since May 2023, causing a surge in mortgage demand from both homebuyers and especially current homeowners. Total mortgage application volume rose 6.9% last

Record inflation may have people questioning whether homeownership is still a good investment. Home prices have been rising faster than incomes, which can be a problem for homeowners because as the value of a home rises, so does the cost to maintain it. More than 1 in 4 homeowners with mortgages are considered “cost-burdened,” meaning

A row of traditional houses on a street in London’s Muswell Hill suburb, located to the north of London, with views of the Canary Wharf on the horizon. Georgeclerk | Istock | Getty Images LONDON — Britain’s major high street lenders have begun slashing their mortgage rates in a sign that financial pressure on households

A for sale sign in front of a home in Arlington, Virginia, on August 22, 2023. Andrew Caballero-Reynolds | AFP | Getty Images The average rate on the popular 30-year fixed mortgage dropped 22 basis points to 6.4% Friday, according to Mortgage News Daily. That is the lowest rate since April 2023. The 15-year fixed

A view of flooded streets after 24 hours of continuous heavy rain over Fort Myers, Florida, United States on June 13, 2024. Anadolu | Anadolu | Getty Images Consumers preparing to renew their homeowners insurance policy may experience some unexpected sticker shock. Between May 2022 and May 2023, home insurance prices rose an average of

The Federal Reserve announced Wednesday that it will leave interest rates unchanged. However, recent signs of economic growth and cooling inflation are paving the way for a widely anticipated September rate cut, which is welcome news for Americans struggling to keep up with sky-high interest charges. “Consumers should feel pretty good about the U.S. economy,”

Sdi Productions | E+ | Getty Images Home affordability has slightly improved for buyers this summer, according to a recent report.  The median new mortgage payment was $2,167 in June, a 2.4% decline from $2,219 in May, according to new data from the Mortgage Bankers Association. The index measures how new monthly mortgage payments change