News

Pending Home Sales Signal Strong Spring Housing Market

The National Association of Realtors (NAR) confirmed on Monday that its Pending Home Sales Index (PHSI) is climbing toward record highs as contract signings in the Midwest and the south in February drove pending home sales to their highest level

Janet Yellen Warns: Higher Interest Rates May Be Warranted Later This Year

Although consumers continue to enjoy record low interest rates, Janet Yellen warned during her speech at the San Francisco Federal Reserve on Friday that higher rates may be necessary at some point in the not-too-distant future. “Like most of my

U.S. Jobless Rate Falls to Five-Year Low

Reuters reported some good news on Thursday, revealing that the number of Americans filing new claims for jobless benefits fell more than expected last week. Going hand-in-hand with that news, job growth in the services sector hit a six-month high

Rising Home Prices Deterring Would-Be Buyers

Potential homebuyers have found themselves up against a serious roadblock recently, as the median sale price of used homes soared 7.5 percent over the last year to $202,600 in February. Meanwhile, as Lawrence Yun, chief economist at the National Association

Billionaire Paul Tudor Jones: Wealth Inequality Is ‘Off the Charts’

Billionaire Paul Tudor Jones spoke at a press conference late last week and warned that wealth inequality in America is “off the charts.” “The gap between the one percent and the rest of America cannot and will not persist,” he

Middle-Class Families on the Decline

A husband and wife, 2.5 kids, a dog and a white picket fence – it’s been the middle class American dream for generations. Until now. According to a new report by CNBC, middle class families are on the decline in

Report: Millions of Homeowners Still ‘Underwater’

According to a new report released by CoreLogic on Tuesday, millions of homeowners in the United States remain underwater on their mortgages – a “nagging leftover” from the housing crash. As CNBC explains, 5.4 million homes – or 10.4 percent

U.S. Dollar Rises at Fastest Rate in 40 Years

Although the U.S. dollar has become incredibly strong once again, CNN is reporting that no one in the industry really expected its value to shoot up quite so quickly. Still, Citibank revealed on Monday that, over the last eight months,

Lack of Inventory Draws Record Crowd to Boston-Area Open House

As employment rates improve and the cost of renting continues to soar, the housing market is beginning to see serious demand in many areas of the country. There was so much demand in one Boston-area suburb recently, in fact, that

January, February Data Suggest Strong New Home Sales in 2015

A newly released set of housing data comparing January and February home sales suggests that 2015 should be a strong year for the sale of newly-constructed homes. As reported by Mortgage News Daily, the Mortgage Bankers Association announced on Thursday

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