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Adjustable-Rate Mortgages Offer Strategic Option Amidst High Interest Rates for U.S. Homebuyers

Adjustable-Rate Mortgages Offer Strategic Option Amidst High Interest Rates for U.S. Homebuyers

Adjustable-Rate Mortgages Offer Strategic Option Amidst High Interest Rates for U.S. Homebuyers
ReutersReuters
US 30-year mortgage rate tops 7%, hits 2-year high

US 30-year mortgage rate tops 7%, hits 2-year high

By Ann Saphir Sept 23 (Reuters) - The rate on the most popular US home loan rose last week to its highest in more than two years and pierced the 7% level for the first time since the first week of President Donald Trump's term, after the Federal Reserve lifted short-term interest rates to combat
ReutersReuters
US fixed 30-year mortgage rate jumps to 7.12%, MBA says

US fixed 30-year mortgage rate jumps to 7.12%, MBA says

By Ann Saphir Sept 23 (Reuters) - The rate on the most popular US home loan rose last week to its highest in more than two years, after the Federal Reserve lifted short-term interest rates to combat inflation, and rising oil prices drove up Treasury yields that underpin residential borrowing costs.
ReutersReuters
Fed's Barr says further rate hikes will likely be needed

Fed's Barr says further rate hikes will likely be needed

Sept 23 (Reuters) - Federal Reserve Governor Michael Barr said on Wednesday the US central bank took an important step last week to "recalibrate" short-term borrowing costs to bring down inflation, and will likely need to deliver further interest rate hikes.
Nashville TennesseanNashville Tennessean
Buying a home in Nashville costs $18K more than the national average

Buying a home in Nashville costs $18K more than the national average

A new Redfin report shows Nashville residents need an income of $128,119 to afford a typical home in 2026. Here's why.
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Homeowners Insurance Stress Impacts Urban Housing Markets More Than Suburban Areas, Study Finds

Homeowners Insurance Stress Impacts Urban Housing Markets More Than Suburban Areas, Study Finds

A study by Matthew E. Kahn and Wesley A. Miller of the University of Southern California reveals that homeowners insurance stress is more pronounced in urban cores than in suburban areas, contrary to the common focus on climate risk in disaster-prone regions. The researchers developed a Local Insurance Strain Index (LISI) using ZIP code-level data from 2018 to 2022, which measures affordability (premiums relative to income), availability (insurer nonrenewal rates), and insurer profitability (paid losses relative to premiums). While national trends show higher insurance strain in areas exposed to natural hazards, the study found that within metropolitan areas, urban homeowners face significantly higher nonrenewal rates (20% higher) and average premiums (39% higher) compared to their suburban counterparts. These differences are not attributed to higher insurer profits but rather to higher losses in urban areas, stemming from factors like increased theft and burglary, older housing stock leading to more claim...
TheStreetTheStreet
How Fed rate hikes impact home sellers (and how to navigate the shift)

How Fed rate hikes impact home sellers (and how to navigate the shift)

Rising rates can make selling a home more difficult for home sellers.
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Americans Moving Less, Impacting Career and Lifestyle Upgrades

Americans Moving Less, Impacting Career and Lifestyle Upgrades

Americans are moving less frequently than ever before, a trend that is impacting career and lifestyle upgrades. Recent U.S. Census Bureau data indicates that the nation’s residential mobility rate has fallen to a historic low of approximately 11%, a significant drop from the 20% annual mover rate recorded in the mid-20th century. This marks the lowest level of geographic movement since federal tracking began in 1948. A Bank of America analysis confirms a broad-based slowdown in moving, affecting both long-distance and intra-city relocations, with millennials showing the sharpest decline. Elevated mortgage rates, currently near 7%, are a major contributing factor, as homeowners with lower locked-in rates are reluctant to move and incur higher financing costs. Additionally, many individuals are opting to renovate their current homes using home equity rather than relocating.
ReutersReuters
Mounting inflation pressures put more Fed rate hikes in view

Mounting inflation pressures put more Fed rate hikes in view

Sept 23 (Reuters) - Mounting inflation pressures and a strengthening economy look to be pushing the Federal Reserve towards an interest-rate hike on the eve of critical national elections, with traders on Wednesday piling into bets on a second straight Fed rate increase in late October. 
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U.S. Housing Market Shifts Towards 'Resilience Belt' Amidst Climate Concerns and Investment Trends

U.S. Housing Market Shifts Towards 'Resilience Belt' Amidst Climate Concerns and Investment Trends

The U.S. housing market is experiencing a notable shift, with renewed interest in what is being termed the 'Resilience Belt'—Midwest and interior metropolitan areas. These regions are gaining traction due to lower housing costs and comparatively reduced exposure to major climate hazards, contrasting with the long-standing dominance of the Sun Belt. This trend is exemplified by cities like Lincoln, Nebraska, which recently achieved LEED Platinum certification, indicating a growing focus on ambitious sustainability efforts beyond traditional coastal areas. Concurrently, there's a significant change in investment patterns, as investment in information-processing equipment has surpassed residential investment for the first time. This development raises questions about the impact of data centers on communities, particularly concerning water, energy, and infrastructure. Furthermore, new research from Brookings highlights increasing insurance stress for homeowners in unexpected geographic patterns, not always cor...
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Deficit Reduction Identified as Key to Improving U.S. Affordability and Tempering Inflation

Deficit Reduction Identified as Key to Improving U.S. Affordability and Tempering Inflation

A recent analysis highlights that deficit reduction is crucial for improving affordability in the United States and assisting the Federal Reserve in controlling inflation. The inflation rate has been above its 2% target for over five-and-a-half years, with prices increasing by 24% compared to an 11% target over that period. Excessive federal borrowing during the COVID-19 pandemic, combined with supply shocks and loose monetary policy, contributed significantly to this inflation. While inflation has decreased from its 2022 peak, it is projected to remain around 3.5% this year. The report emphasizes that responsible deficit reduction can temper inflation by reducing excess demand, moderating inflation expectations, and potentially boosting supply. This approach can also lead to lower interest rates on various loans, including mortgages, car loans, student loans, and consumer credit, by reducing debt issuance and inflationary pressures.
ReutersReuters
Inflation pressures raise prospect of Fed rate hike on eve of elections

Inflation pressures raise prospect of Fed rate hike on eve of elections

By Ann Saphir and Howard Schneider SAN FRANCISCO/WASHINGTON, Sept 23 (Reuters) - Mounting inflation pressures and a strengthening economy look to be pushing the Federal Reserve towards an interest-rate hike on the eve of critical national elections, with traders on Wednesday piling into bets on a