Moyo Studio | E+ | Getty Images The Federal Reserve announced a half percentage point, or 50 basis points, interest rate cut at the end of its two-day meeting Wednesday. And, naturally, some Americans will want to make the most of the central bank’s first rate cut since the early days of the Covid pandemic.
Sales of previously owned homes fell 2.5% in August from July, to a seasonally adjusted annualized rate of 3.86 million units, according to the National Association of Realtors. That is slightly lower than what analysts expected. Sales were 4.2% lower than August 2023. It marks three straight months of sales below the 4 million mark,
A home with a “Sold” sign from a real estate company in North Patchogue, New York. Steve Pfost | Newsday | Getty Images Mortgage rates came down again last week, and with the expectation that they could fall further, mortgage demand suddenly jumped, especially for refinancing. The Federal Reserve is expected to make its first
Andresr | E+ | Getty Images The Federal Reserve is poised to make its first interest rate cut in years on Wednesday. But homeowners shouldn’t bet on the move as an opportunity to immediately refinance their mortgage. That’s because “a lot of these rate cuts are already priced in,” Chen Zhao, the economic research lead
Chris Wattie | Reuters The Federal Reserve announced Wednesday it will lower its benchmark rate bya half percentage point, or 50 basis points, paving the way for relief from the high borrowing costs that have hit consumers particularly hard. The federal funds rate, which is set by the U.S. central bank, is the interest rate
Mariah Carey’s penthouse might be sitting pretty in Manhattan, but her financials? Not so much. The diva has stacked up mortgages totaling $18.6 million on her posh Tribeca pad — most of which was cashed out in loans. Seems like the “We Belong Together” singer’s lifestyle requires a little more than the holiday royalties from
Shu Matsuo Post, 38, built a $2 million real estate portfolio, according to documents seen by CNBC Make It. Courtesy of Shu Matsuo Post The idea of financial independence can mean different things to different people, but one common way to define it is having enough money that you no longer need to rely on
Roosevelt Island is a much more hospitable, fun place than it originally was. The biggest reason is the large-scale, two-decades endeavor known as Riverwalk, which has brought more than 4,000 new residents to eight new buildings north of the bridge. The near $1 billion complex developed by a joint venture of Related Companies and
It may have been a big fat lie. Boston’s famed Skinny House on 46 Hull St., the narrowest home in the city, may not have been built out of spite at all, a resurfaced 1920s article and historical materials reveal. The popular Beantown tale claims that the 10-foot-wide home that last sold in 2021 was
Chris Pratt and Anna Faris’ former Los Angeles home has listed for $7.5 million. The property, which once belonged to the Hollywood stars, is now owned by Brett Mahoney, the executive producer and showrunner behind several hit TV shows, such as “CSI: Miami.” Billy Rose and Natasha Sizlo of The Agency hold the listing. Pratt
MISSOULA, Mont. — In a subdivision near the northern edge of town, a number of condos and duplexes have popped up in the past three years. It’s part of a larger effort, including new zoning laws, to help provide affordable housing to Montanans who have found themselves priced out of the market, said DJ Smith,
Recent signs of cooling inflation are paving the way for the Federal Reserve to cut rates when it meets next week, which is welcome news for Americans struggling to keep up with the elevated cost of living and sky-high interest charges. “Consumers should feel good about [an interest rate reduction] but it’s not going to
Jennifer Lopez is on the hunt for a new home following her recent split from Ben Affleck, and she’s reportedly zeroing in on one of LA’s most tony properties. What’s more, It’s a home right next to another one of her exes: Sean “Diddy” Combs. Lopez, who dated Combs from 1999 to 2001, is eyeing
People walk along London Bridge past the City of London skyline. Sopa Images | Lightrocket | Getty Images LONDON — The U.K. is leading a recovery in Europe’s long subdued office real estate market, with overall investment in the sector expected to pick up further in the second half of the year. Britain recorded 4.1
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