Would-be homebuyers have no choice but to deal with elevated rates if they want to buy this spring.. That’s the first time the weekly average has exceeded 7% this year, and a significant jump from last week’s 6.88% mark.
The volume of purchase applications rose by 5% during the week ending April 12, after slipping by 5% one week earlier, theRe/Max Solutions Associate Broker Kurt Sabel, right, talks with prospective buyer Ned Pierce outside a home for sale in Gilbert, Ariz.Meanwhile, the share of refinance applications was rather tepid, rising just 0.5%, following a 10% jump the week prior. The recent surge in refinance demand stemmed from government loan applicants eager to snag a lower rate.
In the Midwest, sales of previously owned homes retreated nearly 6% from February, and were down 1% from a year earlier. The average price in the Midwest was $292,400, up over 7% from last year. The Northeast was the only outlier, where home sales increased 4% from February, ending a four-month streak. Sales were down nearly 4%% compared to last March, and the median price was $434,600 — up a staggering 10% from the previous year.
Baby boomers may have had the best financial start of all the generations -- coming of age when salaries kept up with the cost of living and goods and services were affordable -- but that doesn't mean...A once-sealed affidavit filed with the Tax Court of Canada and obtained by The Fifth Estate details how alleged scammers tricked the Canada Revenue Agency and made off with $37 million of taxpayers' money.
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