Latest Home buying News

Japan's weaker yen a blessing to some, burden for others

May. 24, 2022 23:59 PM EDT

TOKYO (AP) — The Japanese yen has weakened, trading in recent weeks at 20-year lows of 130 yen to the U.S. dollar just when prices of oil and other goods are surging partly due to the war in Ukraine. The yen's value against the U.S. dollar and other currencies has fallen mainly...

Re/Max CEO: Home prices can't keep up double-digit gains

May. 23, 2022 09:32 AM EDT

LOS ANGELES (AP) — The U.S. housing market is slowing as would-be buyers struggle with rising borrowing costs and a persistent shortage of properties for sale. Previously occupied home sales fell in February and March as mortgage rates shot up, crimping homebuyers’ purchasing...

Startups push into Tampa Bay’s competitive housing market

May. 22, 2022 03:11 AM EDT

TAMPA, Fla. (AP) — For nearly a month, Julie Youngblood has been traveling across Florida to meet with real estate agents. She’s helping the Austin-based company Homeward — which pays cash for homes upfront while homebuyers finalize their own financing — launch in the...

Dubai developer to buy Florida condo collapse site for $120M

May. 20, 2022 19:46 PM EDT

A billionaire developer from Dubai is set to purchase the site of a South Florida condominium that collapsed last June, killing 98 people, for $120 million after no other bids were submitted by the Friday evening deadline for next week's auction. Michael Fay, of Avison Young, said...

EXPLAINER: How do Australian parties differ on key issues?

May. 20, 2022 04:17 AM EDT

CANBERRA, Australia (AP) — Australia’s center-left opposition Labor Party has outspent the ruling conservative Liberal Party-led coalition in election promises during the six-week campaign leading up to the vote on Saturday. Labor says more spending is needed to increase...

Australia's would-be PM Albanese shaped by humble start

May. 20, 2022 00:26 AM EDT

CANBERRA, Australia (AP) — The son of a single mother who raised him on a pension, Anthony Albanese had a humble start to life for a politician who could become Australia’s prime minister on Saturday. His financially precarious upbringing in government-owned housing in Sydney...

Home sales tumble again as mortgage rates surge

May. 19, 2022 10:58 AM EDT

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.4% last month from March to a seasonally adjusted annual...

Average long-term U.S. mortgage rates edge down to 5.25%

May. 19, 2022 10:52 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate slipped to 5.25% from 5.3% last week. By contrast, the...

Liz Weston: How to reduce taxes when you sell your home

May. 16, 2022 09:36 AM EDT

If your home’s value has soared, congratulations. If you decide to sell, beware. Financial advisor James Guarino says some clients don’t realize that home sale profits are potentially taxable until their returns are prepared — and by that time, they may have spent the windfall...

Board rules Baltimore council president broke ethics rules

May. 13, 2022 17:27 PM EDT

BALTIMORE (AP) — Baltimore’s ethics board has ordered the city council president to stop accepting money from a legal defense fund that took donations from at least two city contractors. The Board of Ethics also ruled Thursday that Council President Nick Mosby violated the...