Latest Home buying News

US home sales fell in July; some buyers see silver lining

Aug. 18, 2022 16:04 PM EDT

LOS ANGELES (AP) — The housing market's comedown from its high-flying days early this year is deepening, with home sales in July falling for the sixth straight month. Sharply higher mortgage rates, surging inflation and prices that remain near all-time highs are making homes less...

Kentucky city seeks to help residents buy vacant properties

Aug. 13, 2022 17:03 PM EDT

LOUISVILLE, Ky. (AP) — A Kentucky city will is considering new rules that would help local residents purchase abandoned properties in their neighborhoods, especially if they plan to turn them into owner-occupied homes. Louisville's Landbank Authority currently owns more than 600...

US key 30-year mortgage rate jumps back over 5%, now 5.22%

Aug. 11, 2022 12:02 PM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates soared this week in a continued volatile market as the key 30-year loan rate jumped back over 5%. Mortgage buyer Freddie Mac reports that the 30-year rate rose to 5.22% from 4.99% last week. By contrast, the rate stood at...

New Zealand house prices finally fall from dizzying heights

Aug. 11, 2022 02:37 AM EDT

WELLINGTON, New Zealand (AP) — New Zealand house prices fell year-on-year for the first time in more than a decade, a report showed Thursday, as rising interest rates finally halted a dizzying boom that had only gained momentum after the coronavirus pandemic first hit. The Real...

Australian central bank hikes rate to 6-year high 1.85%

Aug. 02, 2022 02:07 AM EDT

CANBERRA, Australia (AP) — Australia’s central bank on Tuesday boosted its benchmark interest rate for a fourth consecutive month to a six-year high of 1.85%. The Reserve Bank of Australia’s decision was the cash rate’s third consecutive hike of half a percentage point. ...

More homes for sale, but low-priced listings remain scarce

Jul. 28, 2022 08:01 AM EDT

LOS ANGELES (AP) — The chronic shortage of homes for sale that's made fierce bidding wars common and sent prices to record highs has long frustrated homebuyers. After a streak of annual declines going back three years, home listings finally rose on an annual basis in May and June....

How the Federal Reserve's rate hikes affect your finances

Jul. 27, 2022 18:04 PM EDT

WASHINGTON (AP) — Higher mortgage rates have sent home sales tumbling. Credit card rates have grown more burdensome, and so have auto loans. Savers are finally receiving yields that are actually visible, while crypto assets are reeling. The Federal Reserve's move Wednesday to...

Rents spike as big-pocketed investors buy mobile home parks

Jul. 25, 2022 19:30 PM EDT

LOCKPORT, N.Y. (AP) — For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York. That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland and down the road from...

Liz Weston: How to budget realistically for home repairs

Jul. 25, 2022 10:31 AM EDT

If you’re a homeowner and haven’t faced a big repair bill yet, just wait. Even in the best-maintained homes, stuff will wear out or break. Budgeting for these inevitable bills isn’t always easy. One commonly cited rule of thumb — to save 1% to 4% of your home’s value each...

Tree that witnessed council of war to be memorialized

Jul. 24, 2022 09:12 AM EDT

STANTON, Del. (AP) — At the historic Hale-Byrnes House, an enduring relic of the revolutionary era stands tall and mighty but may be on its final breath. The more than 300-year-old sycamore tree played host to a Sept. 6, 1777, council of war led by General George Washington. At the...