Here’s why this housing downturn is nothing like the last one

As quickly as mortgage rates are rising, the once red-hot housing market is cooling off. Home prices are still historically high, but there is concern now that they will ease…

Why LGBTQ homebuyers say rising mortgage rates are hitting them hard

Skandar Mrad, shown here on vacation in Italy, is looking for a home in the Los Angeles area. When Skandar Mrad decided late last year to buy his first house,…

Homeowners delay big purchases, improvement projects due to inflation

For homeowners, big projects and purchases may be another casualty of rampant inflation, new research suggests. Overall, 60% of homeowners in a recent survey are less comfortable making large purchases…

China real estate troubles sent debt indicator to record high

Fixed asset investment data for the first five months of 2022 showed real estate investment declined at a greater scale than it did during the first four months of the…

Money moves to make before the Federal Reserve hikes rates

Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. Saul Loeb | AFP | Getty Images The Federal…

Millennial millionaires are delaying home, car purchases due to inflation

Millennial millionaires are temporarily shelving major purchases as interest rates and inflation rise, according to CNBC’s Millionaire Survey. Nearly half of millennial millionaires say higher borrowing costs are causing them…

Homebuilder sentiment drops to lowest level in 2 years as housing demand slows

A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg…

Here’s what the Fed’s highest rate hike in 28 years means for you

What the federal funds rate means to you The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to…

Mortgage demand is now roughly half of what it was a year ago, as interest rates move even higher

A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels…

30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago

Mortgage rates jumped sharply this week, as fears of a potentially more aggressive rate hike from the Federal Reserve upset financial markets. The average rate on the popular 30-year fixed…