Elderly Army Veteran Forced To Sell Her Home Over Unexplained $12K Water Bill
Janet Engler, an 81-year-old veteran and full-time teacher from Indiana, was confused and frustrated, to say the very least. Engler was told by the utility company that she was using 8,000 gallons of water—which is an astronomical amount, especially for someone who lives alone and works away from home all day. After her local utility…
Middle-Class Americans Can Afford an Average-Priced Home in Only These 20 States
It’s one of the cornerstones of the American Dream—owning a house. In recent years, it has become increasingly difficult for the average American to afford a home. Despite mortgage rates starting to come down, the reality is that middle-class families in less than half of America can afford an average-priced home in their state. President…
Inflation Ticks Up and Consumer Confidence Falls: Economic Uncertainty Has Kept Mortgage Rates Steady
Inflation continues to be a thorn in the economy’s side, and data suggests growing concern from consumers and businesses about the impact of tariffs on the broader economy. On Friday, the PCE Index, which is the Fed’s preferred inflation gauge, was steady at an above-target pace, and the core measure received an uptick. This contrasts…
Pending Home Sales Rise 2% but Remain Near Record Lows in Early Warning Sign for Spring Selling Season
Pending home sales rose modestly last month, but remained close to January’s record low, in a possible signal of continued weak buying activity this spring. The Pending Home Sales Index (PHSI) grew 2% in February from the prior month after seasonal adjustment, the National Association of Realtors® reported Thursday. However, pending transactions declined 3.6% from…
The 5-Year Rule Is No More: Here’s How Long You’ll Need To Stay in Your House To Truly Break Even
The stagnant home market is threatening more than just buyers and sellers hoping to transact in the year ahead. It’s also risking their break-even point. Investing in real estate, whether you’re buying a home or an investment property, is generally a safe bet: You’ll make more money than you spend if you keep it long…
Smooth Transitions: Strategies for Moving and Starting Your Home Business
Image via Pexels Starting a home-based business while relocating presents unique challenges and opportunities. This dual endeavor requires a blend of planning and adaptability to ensure both your move and business launch are successful. By focusing on key areas such as document management, local regulations, and productivity, you can create a seamless transition. Embracing…
Deep Freeze Hit the Housing Market in December With the Strongest Seasonal Slowdown in 2 Years
As temperatures plummeted over the festive season, so did the level of activity in the residential real estate market, which experienced its strongest seasonal slowdown in nearly two years. “Homes spent 70 days on the market, the slowest December in five years and the slowest month since January 2023,” says Realtor.com® senior economist Ralph McLaughlin in…
Fed Cuts Interest Rate by a Quarter Point, but Don’t Expect Big Declines for Mortgages Yet
The Fed has delivered another interest rate cut, but unfortunately for homebuyers, it won’t mean imminent relief for mortgage rates. As expected, the Federal Reserve cut its overnight policy rate by 0.25 percentage points on Wednesday, bringing the rate down to a new range of 4.25% to 4.5%. The new range represents a full percentage…