Mortgage rates, which have surged since the Fed began lifting rates in March 2022, could rise further. So could rates on credit cards and some business loans.
home sales
Posted inBusiness, News
Maine home sales continued a familiar trend in May
The decline in sales volume and run-up in prices were similar to those in previous months, but an expert says there’s a ‘glimmer of hope’ for potential buyers.
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Posted inBusiness, Nation & World, News
U.S. home resales barely rise as inventory constraints worsen
The constrained inventory levels, pared with high mortgage rates, continue to impede the resale housing market.
Posted inBusiness, Local & State, News
At $10 million, one of the priciest homes in Maine history goes to former SEC chair
Richard Breeden, known as ‘King Richard’ at the Securities and Exchange Commission, bought the Knox County estate in the most expensive home sale so far this year and the 6th-highest ever in Maine.
Posted inBusiness, News
With a significant price increase in April, Maine’s housing market may be heating back up
The lack of inventory again hampered sales, but bidding wars are starting to resume and prices rose by more than 6%.
Posted inBusiness, News, Real Estate
Hundreds of Mainers have gone into real estate as the hot market begins to cool. Now what?
The number of real estate agents has been growing by double-digit percentages. But the trend may be reversing, even as younger agents join the field.
Posted inBusiness, Nation & World, News
U.S. sales of new homes rise unexpectedly, showing stabilization
The latest data – which showed last month’s pace was the strongest since August – suggest the housing market may finally be gaining its footing after last year’s rapid rise in mortgage rates.
Posted inBusiness, Nation & World, News
U.S. home sales surged in February as mortgage rates dipped
The surge in sales – the biggest on records going back to 1999 – ended a 12-month slide that knocked the nation’s housing market into its deepest slump in nearly a decade.
Posted inBusiness, News, Uncategorized
Lack of inventory slowed Maine home sales in January
The most recent monthly data show the number of sales fell by double digits compared to a year ago, while prices rose modestly.
Posted inBusiness, Nation & World, News
Where U.S. house prices may be most overvalued as climate change worsens
The nation’s real estate market has yet to fully account for the increasing threats to millions of homes from rising seas, stronger storms and torrential downpours, according to new research published Thursday.