✅Mid-Week News Updates, July 3, 2024
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➡️𝗛𝗘𝗟𝗢𝗖 𝗼𝗿 𝗛𝗘𝗟𝗢𝗔𝗡: 𝗛𝗼𝗺𝗲 𝗘𝗾𝘂𝗶𝘁𝘆 𝗢𝗽𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗡𝗲𝗲𝗱𝘀
Homeowners often consider tapping into their home equity for various financial needs. By understanding the differences between HELOANs and HELOCs and considering your financial needs, you can make informed decisions about leveraging your home equity effectively.
More here: https://www.bfgusa.com/2024/04/17/heloan-or-heloc-home-equity-options-for-financing-needs/
➡️𝗛𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿𝘀 𝗮𝗿𝗲 𝘀𝗶𝘁𝘁𝗶𝗻𝗴 𝗼𝗻 𝗮 𝗿𝗲𝗰𝗼𝗿𝗱 𝗮𝗺𝗼𝘂𝗻𝘁 𝗼𝗳 𝗲𝗾𝘂𝗶𝘁𝘆, 𝗱𝗿𝗶𝘃𝗶𝗻𝗴 𝗮 𝘀𝗵𝗶𝗳𝘁 𝘁𝗼𝘄𝗮𝗿𝗱 𝗺𝗼𝗿𝗲 𝗲𝘅𝗽𝗲𝗻𝘀𝗶𝘃𝗲 𝗵𝗼𝗺𝗲𝘀
Redfin economics research lead Chen Zhao, in the analysis, said a drop in mortgage rates could bring both buyers and sellers back to the market. If that were to happen, prices could either accelerate or decelerate depending on who comes back more intensely.
More here at Fortune: https://fortune.com/2024/07/01/homeowners-record-equity-more-expensive-homes/
➡️𝗙𝗲𝗱 𝗖𝗵𝗮𝗶𝗿 𝗦𝗲𝗲𝘀 ‘𝗦𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀’ 𝗼𝗻 𝗜𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻. 𝗪𝗵𝗮𝘁 𝗗𝗼𝗲𝘀 𝗧𝗵𝗮𝘁 𝗠𝗲𝗮𝗻?
Powell didn’t offer a timeline for interest rate cuts. While inflation is likely to continue to trend lower, it likely won’t reach the Fed’s target until late 2025, he said.
More here at Investopedia: https://www.investopedia.com/powell-sees-significant-progress-on-inflation-8672739
➡️𝗧𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁’𝘀 𝗴𝗿𝗮𝗱𝘂𝗮𝗹 𝘀𝗵𝗶𝗳𝘁 𝘁𝗼 𝗵𝗶𝗴𝗵𝗲𝗿-𝗿𝗮𝘁𝗲 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀
While the mortgage market is made up mostly of loans with lower interest rates, it is gradually shifting toward a higher average, according to the latest Intercontinental Exchange (ICE) Mortgage Monitor report.
More here at Scotsman Guide: https://www.scotsmanguide.com/news/markets-gradual-shift-to-higher-rate-mortgages-continues/
➡️𝗔𝗱𝗱𝗲𝗱 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗺𝗮𝗸𝗲𝘀 𝗮 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗳𝗼𝗿 𝗦𝗮𝗻𝗱𝘄𝗶𝗰𝗵 𝗚𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻
Being part of the so-called “Sandwich Generation” has its ups and downs. Thirty-three percent — about a third — of the Sandwich Generation says that it has helped them afford to buy a home. Eighteen percent of the cohort, in fact, said that they “strongly agree” that it has made a positive impact on homeownership affordability.
More here at Scotsman Guide: https://www.scotsmanguide.com/news/added-responsibility-makes-financial-difference-for-sandwich-generation/