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In this article BKI A house for sale in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth. What they choose to do with it could have impacts on the broader economy. 

Anna Mascall pictured in front of the Easton, Pa., home she recently purchased. “To be able to say I own a home, I kind of did the American dream,” she said. Courtesy: Anna Lee Mascall After years of renting, Anna Mascall, 30, decided she wanted to buy her own home. Then the Covid-19 pandemic hit,

Next to Netflix, home renovation may have been the biggest stay-at-home play of the pandemic. From new home offices to expanded decks to basement gyms, homeowners have been upgrading and expanding their spaces at record rates for the past two years. That trend appears to be slowing down.  After big projected jumps in the first

Citigroup is offering its vision for the future of flexible work with the release of new plans to transform its London headquarters. The Wall Street bank is to overhaul its iconic Canary Wharf Citi Tower — home to its U.K., Europe and Middle East operations — in a major bet on the continued relevance of

A home for sale in Susanville, CA. Gary Coronado | Los Angeles Times | Getty Images Rising interest rates are causing big headaches for mortgage lenders, especially those who depend most on refinance business. Demand is simply drying up. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less)

Buyers head into an open house in Waldorf, Maryland. Lisa Rizzolo | CNBC The nation’s housing market has never been this tight, which is frustrating enough for house hunters, but now they have another problem. Mortgage rates, which have hovered around record lows since the start of the pandemic, are now rising. It’s what one

Rohit Chopra, director of the Consumer Financial Protection Bureau. Alex Edelman/Bloomberg via Getty Images The Consumer Financial Protection Bureau on Wednesday signaled a broad crackdown on hidden and excessive fees charged by banks, mortgage lenders and other financial entities. The federal agency, created in the wake of the 2008 financial crisis, is seeking consumers’ input

The Federal Reserve laid the groundwork for interest rate hikes Wednesday. At the conclusion of its two-day meeting, the central bank said it will aggressively unwind last year’s bond buying after a variety of inflation reports reached their highest levels in decades. Although interest rates will stay near zero for now, Fed officials set the stage

A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters Even as the housing market entered its traditionally slower season in November, home prices showed big gains from a year ago. Prices rose 18.8% year over year on the S&P CoreLogic Case-Shiller National Home Price Index. Yet that was

Demand for office space is likely to rebound from depressed Covid pandemic levels long before retail properties, property billionaire Sam Zell told CNBC on Tuesday. “Everything between the top mall and the corner grocery anchor mall …  [there’s] a serious question as to its viability,” Zell said in a “Squawk Box” interview. “I think retail

The past year may have been a wild ride for potential homebuyers, but reports indicate that the housing market in 2022 could be even more competitive. New listings are currently at a record low, according to Redfin and Zillow. In fact, at the end of 2021, there were 19.5% fewer homes listed than at the

In this article ABNB Airbnb co-founder and CEO Brian Chesky told CNBC on Friday that a post-Covid pandemic future of flexible living and working arrangements will be a boon to the company. Chesky, who is on a nationwide tour of Airbnb stays in an effort to “improve the experience” for customers, said he expects sustained

In this article BKI jayk7 | Moment | Getty Images The number of borrowers who could benefit from a mortgage refinance just dropped dramatically thanks to fast-rising interest rates. The average rate on the 30-year fixed loan has jumped more than 50 basis points since the start of this year, cutting the number of refinance

A “Sold” sign stands outside a home following a snow fall in Geneseo, Illinois. Daniel Acker | Bloomberg | Getty Images Closed sales of previously owned homes in December fell 4.6% to a seasonally adjusted, annualized rate of 6.18 million units, according to the National Association of Realtors. Sales were down 7.1% year-over-year. Still, December