The Federal Reserve slashed interest rates by a half percentage point, or 50 basis points, on Wednesday, its first rate cut since March 2020. Even before the Fed rate cut, some homeowners had already taken advantage of recent declines in mortgage rates to refinance. Refinance activity increased to 46.7% of total applications during the week
Homebuyers hoping for a flood of homes to hit the market from aging baby boomers might be disappointed by the results of a new survey. Among boomers who own homes, 54% say they never plan to sell the house they live in, according to a poll from Clever Real Estate. Now in the age range of
After years of sky-high mortgage rates, the Federal Reserve finally cut rates on Wednesday at its policy meeting. The Fed doesn’t set mortgage rates, but the two numbers often move in the same direction — and this much-anticipated rate cut should give the sluggish real estate market a much-needed kick-start. Just 11 months ago —vin
A psychedelic rainbow delight of an apartment has hit the market on the Upper East Side for $8.75 million. The floor-through unit at 188 E. 76th St. is the longtime home of the artist Apryl Miller, who successfully sought to cover every inch of the space in color. “The idea always was to make a
Dream of Californication. The former Beverly Hills home of Red Hot Chili Peppers singer Anthony Kiedis has listed for $11.25 million, The Post has learned. Kiedis, 61, lived at the property from 2004 to 2007, during which time the rock group recorded and released its seminal, Grammy Award-winning double album “Stadium Arcadium,” which includes such
Street scene in Old Bond Street, Mayfair, London, United Kingdom. Pawel Libera | The Image Bank | Getty Images LONDON — Monaco, Italy, Switzerland, Dubai. They’re just a few of the destinations trying to lure away the U.K.’s uber wealthy ahead of proposed changes to the country’s divisive non-dom tax regime. Almost two-thirds (63%) of
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
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