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Trends and Changes in the Real Estate Market in 2024

Trends and Changes in the Real Estate Market in 2024

The real estate market in 2024 is showing some noteworthy trends and changes.

Inflation Storm and U.S. Mortgage Rates

Inflation Storm and U.S. Mortgage Rates

Recent data indicates that inflation continues to climb, potentially resulting in further increases in mortgage rates this spring, with the possibility of even surpassing 7%. This news is undoubtedly a heavy blow to homebuyers, especially first-time buyers who are already facing multiple pressures such as high housing prices and scarce supply.

Changes in the US Mortgage Market: Slight Decrease in Rates, Decline in Applications

Changes in the US Mortgage Market: Slight Decrease in Rates, Decline in Applications

Recent changes have been observed in the US mortgage market. The average contract interest rate for 30-year fixed-rate mortgages (with loan balances of $766,550 or less) has decreased from 7.06% to 7.04%. This slight change might have some impact on homeowners and potential homebuyers.

Trump's New York Real Estate Faces Risk of Confiscation

Trump's New York Real Estate Faces Risk of Confiscation

Former U.S. President Donald Trump recently faced a judgment involving hundreds of millions of dollars in damages in a civil fraud case, potentially putting his New York real estate, including Seven Springs Estate and Trump National Golf Club, at risk of confiscation. These properties are significant for Trump, serving not only as symbols of wealth but also as symbols of his identity in the business and political spheres.

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