As projected, the Federal Reserve has just announced another rate hike of 75 basis points or three-quarters of a percent for federal funds, its second 75 basis point hike in as many months, which was an unprecedented move. As we foreshadowed at the end of last year, the higher federal funds rate has pushed the […more]
On Wednesday, the Federal Reserve raised interest rates by 0.75 percentage points. Consecutive hikes of 0.75 percentage points in June and July, following a half point increase in May, underscore the Fed’s willingness to deliver strong responses to fight elevated inflation even as the economy starts to slow. With soaring asking prices, housing affordability in […more]
There is a connection between the Federal Reserve’s efforts to curb inflation and higher mortgage interest rates, but it’s probably not the one you think it is.
This article was first published on NerdWallet.com. The Federal Reserve doubled down on its inflation-fighting strategy on Wednesday afternoon, raising a key interest rate by 75 basis points, or 0.75 percentage point, for the second month in a row. The good, or at least not worse, news for home buyers: The Fed’s latest move doesn’t […more]
The Federal Reserve (Fed) on Wednesday raised the federal funds rate by another 75 basis points, to 2.25%-2.50%, delivering what was expected by most investors and economists in recent weeks. Designed to control persistent inflation, the decision could increase the cost of mortgage borrowing and further slow home sales, as the housing sector is particularly […more]
This Prospect Lefferts Gardens one-bedroom doesn’t come with a lot of bells and whistles, but it does have some Deco character, an efficient layout and freshly skim coated walls. For those worried about noisy upstairs neighbors, it also has the benefit of a top floor location at 125 Hawthorne Street,… Read More > The post […more]
Having ticked up a downwardly revised 6.3 percent in May, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.3 percent in June to an annualized rate of 590,000 sales, which is effectively the same pace as in April of 2020 when the market came to a pandemic-driven halt and down […more]
Photo Credit: Guillaume Gaudet for The Corcoran Group A duplex in one of New York City’s most famous buildings is now available. Located at 1 West 67th Street on the Upper West Side, the neo-Gothic style Hotel des Artistes was built in 1915 as an artist’s co-op building and has been home to famous residents over […more]
Nonbank mortgage lender and servicer Mr. Cooper Group reported a net income of $151 million in the second quarter of 2022, a staggering 77% reduction in profits compared with the $658 million it recorded during the previous quarter. The Dallas-based company’s performance reflects gains with mortgage servicing rights (MSR), which offset lower profitability related to […more]
As the patchwork of eviction protections and rent relief programs continues to fray in California, how are landlords and tenants adapting to the new COVID reality?