Latest Home buying News

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...

New Orleans' first Black subdivision gets historic marker

Jul. 23, 2022 01:10 AM EDT

NEW ORLEANS (AP) — Two years after Pontchartrain Park was placed on the National Register of Historic Places, residents gathered recently to unveil a marker recognizing the New Orleans neighborhood as a “safe cradle for Black hope and prosperity.” Though the neighborhood first...

Prosecutors seek 5th conviction tied to ex-cop be overturned

Jul. 21, 2022 19:40 PM EDT

HOUSTON (AP) — A man who has been serving a 25-year prison sentence based mostly on testimony from an ex-Houston police officer whose cases are being reviewed following a 2019 deadly drug raid should have his conviction overturned, a judge said Thursday. Frederick Jeffery was...

Housing market chills as mortgage rates, prices scare buyers

Jul. 21, 2022 12:02 PM EDT

NEW YORK (AP) — Kyle Tomcak was looking for a home for his in-laws in the suburbs around Denver, something priced close to $450,000. Tomcak became dispirited as he lost out to investors fronting cash offers $100,000 over the asking price. Then mortgage rates ballooned, putting his...

US home sales fell in June as prices reach new heights

Jul. 20, 2022 11:07 AM EDT

Sales of previously occupied U.S. homes slowed for the fifth consecutive month in June as higher mortgage rates and rising prices kept many home hunters on the sidelines. Existing home sales fell 5.4% last month from May to a seasonally adjusted annual rate of 5.12 million, the...