Mortgage rates, now at a 20-year high, combined with inflation and stock market volatility are causing housing markets to soften quickly. The next several months will be a critical test for the economy, experts say.© photoschmidt - iStock/Getty Images PlusConsumers are facing economic pressure from every angle—rising mortgage rates, stubbornly high inflation, a battered stock market—and the financial environment keeps getting worse for aspir
Homeowners have only three to four minutes to evacuate in the event of a fire, research shows. Share the dangers with your clients to help them prepare and stay safe.Deadly house fires are growing in frequency—and many homeowners have less time to get to safety. Newer homes and furnishings are burning faster(link is external), research shows, giving owners just three to four minutes to evacuate when a fire breaks out. Thirty years ago, whe
The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.Mortgage rates have more than doubled since the beginning of the year as the Federal Reserve pursues an aggressive path of interest rate hikes to bring down stubbornly high inflation.Those actions,
Sustainability is trending, especially among young buyers, and an aesthetically pleasing rain barrel offers cost savings and curb appeal. Outfitting a house with a rain barrel does more than collect and conserve rainwater: It saves money, too. Well-placed rain barrels help cut utility costs by collecting free water for gardening, lawn watering or even washing the car. And homeowners are taking note.“There has absolutely been an increa
Rising interest rates crushing demand for housing, developer financed projects, but infrastructure, power, and manufacturing could soon gain steam, association officials say Total construction spending declined by 0.7% in August as spending on new houses turned sharply lower, while public and private nonresidential construction posted mixed results, according to a recent analysis of federal spending data by the Associated General Contractors
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Home buyers have lost about $107,000 in buying power since the beginning of the year—and that’s what’s truly scary.Despite a slight decrease this week in mortgage rates, the average for the 30-year fixed-rate loan remains more than double what it was a year ago, adding hundreds of dollars per month to financing costs for home buyers. This is prompting more buyers to retreat from the market: Mortgage applications to purchase a home are down
Interior designers and lighting experts aim to include at least this many light sources when designing a living room How many lights is enough for a living room to feel relaxing and cozy? You're not the only one wondering. It's a fine line to walk - while you don't want your space to be overly bright, neither do you want a space that is poorly lit. Building a richly layered lighting scheme gives you the options to get it right, whatever you'
Lack of firm definitions creates confusion, VHA’s CEO says The terms low-income housing and affordable housing are often used interchangeably, causing confusion for many.So, what is the distinction? The answer is complicated.As defined by the U.S. Department of Housing and Urban Development, affordable housing is any housing that costs an owner or renter no more than 30 percent of gross household income, including utilities.Low-income, on
Accent the windows to bring extra design to a space. Find out what’s trending in window coverings. You’re looking at your room, and although furnished, it just feels bare. Your windows may be begging for some extra treatment. A room can be transformed with customized blinds, shades and drapery. But with growing options, how do you choose which one is right for your space?Design experts at Stoneside Blinds & Shades(link is external)&n
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