Adjustable-rate mortgages can carry some risks, but as rates rise, more home buyers may consider them. ARMs typically have a lower initial interest rate than 30-year fixed-rate mortgages, but the rate will change after a defined duration. Borrowers then must pay the rate set when their lock period expires, which can be risky if rates are moving up at the time.Even though interest rates currently remain at historical lows, recent increases have be
Some unusual or uncommon home features are not only attracting buyers but also encouraging them to pay more for those features. In a study for Angi, formerly Angie’s List, researchers combed through sold listings to identify common or trending home features and determine whether a price premium could be attached to some amenities.In the kitchen, buyers may appreciate a pot filler faucet over the cooktop. Angi researchers said that feature alone
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A premier suburb often comes with city-like amenities, but those can come at a hefty price tag, too. About 76% of the 100 top-ranked suburbs in the country are actually more expensive than the principal city in the same metro area, according to a new analysis from StorageCafe.Premier suburbs offer quality housing, top-notch schools, vibrant shopping and dining scenes, and plenty of outdoor recreation activities. But can affordability still b
Mortgage rates may be moving higher but eager buyers continue to drive loan applications to purchase a home higher as well. Mortgage applications to purchase a home rose 1% last week, the Mortgage Bankers Association reported Wednesday. Home shoppers may be rushing to lock in rates ahead of any further increases.But higher mortgage rates are taking a toll on homeowners looking to refinance. Mortgage demand for refinance applications fell 15%
Homeowners have been spending more time in their backyards since the pandemic began. For a growing share of owners, it’s become a new hobby or a place to relax. Sixty-nine percent of Americans recently surveyed say that doing yard work—either maintaining it or adding or updating features—is one of the ways they like to relieve stress these days, according to a Yards Study from Harris Poll.“Over the last few years, families have used their
Listing prices rose to a median of $405,000 in March, an all-time high, according to realtor.com®’s latest Monthly Housing Trends Report. However, economists say that buyers may soon see relief with expectations of more inventory coming that could help relieve some of the pricing pressures.Housing inventory is expected to hit positive territory year over year this summer, according to realtor.com®’s report.“Despite the $405,000 price tag,
The nation’s housing crunch has raised the profile of accessory dwelling units—small homes sharing a plot of land with a larger single-family home. Also known as granny flats, in-law units, or backyard bungalows, ADUs tend to be under 1,200 square feet and can be a viable, lower-cost alternative for renters who are unable to afford larger pricier units.In her new book Bigger than Tiny, Smaller than Average, author Sheri Koones says that
Demand for industrial space continues to swell and construction is increasing, reaching record-breaking levels, CommercialEdge details in its monthly National Industrial Report.The average sale price for industrial space was $125 per square foot in February. Ongoing investor demand continues to drive transaction activity to new heights, the report shows.Industrial space in Seattle is fetching the highest sales prices nationwide, at $357 per
Location may play a big part in how happy you are. Some cities in the U.S. appear to have happier residents than others.For example, on the top 10 list, more cities were in California than any other state. WalletHub researchers used positive-psychology research to rank the nation’s 180 largest cities by happiness of residents. They examined 30 indicators, including income, a city’s growth rate, average leisure time per day, commutes, work hou
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