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The rapid spike in mortgage rates since 2022, accompanied by the Federal Reserve’s determined fight against inflation and constant aggressive interest rate hikes, has cooled the U.S. real estate market significantly, leading to falling sales and pressured home prices. According to a report last week by Redfin, one of the largest U.S. real estate platforms,
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Mortgage rates have been skyrocketing! Mortgage interest rates (30yr fixed) have recently surged to the highest levels seen since early November 2022. This is likely to decrease home buyer demand further as long as rates stay elevated. For example, for a homebuyer looking to purchase a $450,000 home with 5% down payment, it would cost
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Black Americans represent less than 5% of residential real estate developers, largely because they can’t get equal access to capital, according to a recent report by the Urban Land Institute. Institutional capital – real estate investment trusts and private equity in particular – are the dominant players. Black developers often don’t have exposure to those
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A new Bankrate ranking found the Austin, Texas, metro area is the best for first-time home purchasers. Roschetzkyistockphoto | Istock | Getty Images Prospective buyers looking to secure the purchase of their first home this spring will still face a difficult market. Yet there are signs some areas of the country may provide more opportunity
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