The State of the Union: What Role Does Housing Play?

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The U.S. enjoyed the strongest housing market in a decade last year. But in a speech full of economic accolades, President Trump missed an opportunity for a pat on the back. Housing was not mentioned once in his first State of the Union address. Here are three ways housing helped the economy last year: 1. Unprecedented wealth for homeowners Homeowners … Read More

Mortgage Rates: Good News (For Buyers With Good Credit)

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Mortgage rates dipped this week, averaging 3.43 percent for a 30-year, fixed-rate loan, down from 3.45 percent. At this time last year, rates averaged 3.93 percent, according to Freddie Mac . Source: Freddie Mac Rates have held below 4 percent for 33 weeks, the second-longest run of cheap borrowing the U.S. has ever had. The record was set from March 2012 … Read More

Mortgage Rates: No Tantrums Here, Just Cheap Loans

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Good economic news pushed mortgage rates up last week, with a 30-year fixed loan averaging 3.45 percent. A year ago, rates averaged 3.94 percent, according to Freddie Mac ’s weekly survey. Source: Freddie Mac Rates edged higher after a closely watched report on job creation came in strong, surprising economists and markets. The upbeat employment news has more people betting the … Read More

Mortgage Rates: Going Up, But Summer Home Sales Stay Hot

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Mortgage rates rose for the second week, averaging 3.45 percent for a 30-year, fixed-rate loan, up from 3.42 percent the week before. A year ago, rates averaged 4.04 percent, according to Freddie Mac ’s weekly survey. Despite the uptick, rates have held below 4 percent since December, tying a 29-week run of cheap borrowing we had from November 2014 to … Read More

Republicans Are More Likely To Own Homes And Other True Cliches

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Liberals like cities. Conservatives like the country. Liberals want ethnically diverse neighborhoods. Conservatives want neighbors who share the same religious faith. Political cliches, perhaps, but research has shown these stereotypes are grounded in truth. Studies show an America divided by not just politics, income and race, but place, too. Cleveland and Philadelphia, where Republicans and Democrats will gather this week … Read More

Mortgage Rates: Holding Steady As Homeowners Rush to Refinance

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Mortgage rates held near their 2016 low last week, averaging 3.42 percent for a 30-year, fixed-rate loan. That’s up from 3.41 percent the week before. A year ago, rates averaged 4.09 percent, according to Freddie Mac ’s weekly survey. Rates have held below 4 percent for 28 straight weeks and odds are good they’ll extend that streak to beat the … Read More

Employers are Hiring But The Job Market Still Needs Work

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Employers created 287,000 jobs in June, the biggest jump in eight months and a spectacular number that surprised nearly everyone. More people found work or started looking for work. The Labor Department’s monthly employment report measures what was happening in the job market before Britain caused a  market tailspin by voting to withdraw from the European Union. Still, it supports … Read More

Foreign Investors Pulled Back From U.S. Real Estate Amid Global Woes

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Foreign buyers retreated from the U.S. real estate market last year as a strong dollar, rising home prices and slowing overseas economies crimped buying power. Investors in particular poured dramatically less money into U.S. rental and vacation properties, according to a survey from the National Association of Realtors , slashing their spending by $10 billion to only $35 billion, a … Read More

The Supreme Court Deadlock Is a Big Deal For Everyone. Here’s Why.

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The Supreme Court today deadlocked over the legality of President Barack Obama’s effort to shield the undocumented immigrant parents of U.S. citizens, a move that exposes some 4 million people to a higher risk of deportation and denies them an opportunity to work legally in the U.S. Even if you’re not an immigrant, you should care. Beyond the legalities, the court’s … Read More