Mortgages
If the Economy Is Shaky, Why Are Company Profits Still Strong?
In its earnings report, Ally Bank, a big auto loan maker, provided data on past-due auto loans in the second quarter for borrowers at a range of income levels. Past-due loans were either at or close to prepandemic levels for borrowers with lower incomes. Ally declined to provide the same data for earlier quarters, making […]
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What’s Up With the Crazy Housing Market?
But if you need a home now — and you can stomach the roller coaster — the world is looking a little brighter when you squint. Yes, your monthly payments will be higher than they would have been had you bought a few months ago. But the low rates of 2020 and 2021 weren’t entirely […]
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Highest Mortgage Rates Since 2008 Housing Crisis Cool Sales
For the past two years, anyone who had a home to sell could get practically any asking price. Good shape or bad, in cities and in exurbs, seemingly everything on the market had a line of eager buyers. Now, in the span of a few weeks, real estate agents have gone from managing bidding wars […]
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How Inflation Is Altering People’s Behavior
Americans are suffering from sticker shock. With inflation running at 8.6 percent, its fastest pace in 40 years, people are balking at the rising cost of everything from groceries to gas. In May 2021, the average price of a dozen large eggs was $1.60. A year later, it was $2.80 — an increase of 75 […]
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Gen Zers Are Buying Homes. Here’s Where They’re Looking.
Rising mortgage rates and steep home prices have been particularly challenging for first-time buyers, especially young adults earning their first paychecks. Many are looking outside expensive metro areas to find more affordable homes in midsize cities, new research shows. According to a report from LendingTree, the online lending marketplace based in Charlotte, N.C., members of […]
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How to Figure Out if You Can Actually Afford That New Home
High inflation often translates to high anxiety, which is why many Americans are striving to lock in the cost of one of their most basic, most human needs: a home. But with housing prices already at lofty levels and mortgage rates spiraling, many buyers may be tempted to jump in before they’re ready — or […]
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How Rising Mortgage Rates Are Affecting the Housing Market
This makes it a good time to be a seller — assuming you don’t need to buy. Christopher J. Waller, a governor at the Fed, is living this out. “I sold my house yesterday in St. Louis to an all-cash buyer, no inspection,” Mr. Waller said in panel discussion on Monday. “But I’m trying to […]
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What a Federal Reserve Rate Increase Means for You
Though the typical car payment has reached its highest levels since 2012, the latest increase isn’t expected to make a meaningful difference — at least not yet. “Car loan rates will move up as the Fed hikes interest rates, but it will be a nonissue for car buyers because it has such a limited impact […]
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Baltimore Prosecutor Charged With Perjury and Filing False Loan Applications
Marilyn Mosby, Baltimore’s top prosecutor, was indicted Thursday on charges that she perjured herself to obtain money from a retirement fund and made false statements on loan applications to buy two vacation homes in Florida. The charges against Ms. Mosby, 41, who was first elected state’s attorney in 2014 and drew national attention the following […]
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