Home sales

Sustained rise in mortgage rates could reduce home sales

Mortgage rates have rebounded to levels not seen since July following signals from the Federal Reserve last week that it may start cutting its purchases of long-term mortgages and Treasury bonds later this year. The Fed’s debt purchases have helped keep long-term interest rates low. But that’s not all that can scare investors off buying […]

Home sales

Profitable home sales reach their highest level in 39 years

Profitability increased in 12 of the 15 capitals and the rest of the state’s markets, with the rate of sales at a loss increasing in Melbourne, Hobart and regional Tasmania, albeit from a weak base. Regional and tree-change markets posted the highest proportion of lucrative sales, with Victoria’s Ballarat regional area reaching 99.7 percent of […]

Home sales

Existing home sales decline as buyers wait for better prices and more options

Sales of existing homes fell in August, with inventory and prices remaining a major concern for potential buyers. Existing home sales fell 2% to a seasonally adjusted annual rate of 5.88 million in August, the National Association of Realtors said on Wednesday. Compared with August 2020, home sales fell 1.5%. “Although there has been a […]

Home sales

Major banks’ interest rate cuts could boost home sales this holiday season: experts

The State Bank of India (SBI) will charge mortgage borrowers 6.7% interest based on their credit score regardless of the loan amount. The offers are accessible to all segments of borrowers regardless of the profession of the borrower. The 6.70% mortgage offer is also applicable to cases of balance transfer. Kotak Mahindra Bank cut interest […]