Latest Home buying News

South Florida home prices fall, but key issue remains

Oct. 01, 2022 03:14 AM EDT

MIAMI (AP) — Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers. Miami-Dade’s median sale price dwindled to $551,250 for a single-family home in August, down...

1,000 NYC cabbies' loans get refinanced, but many remain

Sep. 30, 2022 19:17 PM EDT

NEW YORK (AP) — Struggling taxi drivers have gotten $225 million in debt relief over the last two weeks, but thousands more loans have yet to be refinanced after a cabbie debt crisis, officials and advocates said Friday as the relief program deadline was extended. Over 1,000 loans...

How steep Fed rate hikes affect your finances

Sep. 21, 2022 14:08 PM EDT

NEW YORK (AP) — Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier. Savings rates are slightly juicier, though. As the Federal Reserve has rapidly increased interest rates, many economists say they fear that a recession is...

US home sales slipped, prices grew more slowly in August

Sep. 21, 2022 11:28 AM EDT

Sales of previously occupied U.S. homes slowed in August for the seventh month in a row, as sharply higher mortgage rates and rising prices made homebuying less affordable, further cooling the once red-hot housing market. The National Association of Realtors said Wednesday that...

Pandemic homeless hotels close, sending some back to streets

Sep. 16, 2022 19:50 PM EDT

DENVER (AP) — As Charlie Gilmore collected his belongings Friday to leave the Denver hotel that had been a home to him and 137 other previously homeless people during the pandemic, he pondered where he would spend the night. The 58-year-old is one of thousands of people without...

Mortgage rates hit 6%, first time since 2008 housing crash

Sep. 15, 2022 17:22 PM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year...

Kimberly Palmer: How to balance competing savings goals

Sep. 12, 2022 09:04 AM EDT

Saving money sounds straightforward — set cash aside for a future purpose — but in reality, people often face competing savings priorities. We want it all: the travel, the house, the flush savings account. So how do we figure out which savings goals to put first, especially when we’re working...

Loomis Fargo defendants owe as much as they stole in 1997

Sep. 12, 2022 00:03 AM EDT

CHARLOTTE, N.C. (AP) — During one overnight shift, a bumbling conspiracy of thieves just west of Charlotte stole more than $17 million from Loomis Fargo. Paying the money back has taken a lot longer, and time is running out for the U.S. government to collect. Turns...

As housing market cools, homebuyers regain leverage

Sep. 08, 2022 12:47 PM EDT

LOS ANGELES (AP) — Years of soaring home prices and sharply higher mortgage rates remain hurdles for many would-be homebuyers, but new data shows that they're regaining some leverage at the negotiating table as the housing market slows. An analysis of home sales data by Redfin...

Long-term mortgage rates now at highest point since 2008

Sep. 08, 2022 10:27 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.89% from 5.66% last...