Real Estate News 02/19/2024

Today’s News Synopsis:

The Freddie Mac fixed rate for a 30-year mortgage climbed 13 basis points to 6.77% this week, reaching the highest level so far in 2024 amid still-strong employment and inflation data.

In The News:

Realtor.com – “Freddie Mac mortgage rate climbs 13 basis points to 6.77%“ (02-15-24)

“The January CPI data showed that inflation slowed year-over-year, but picked up compared to the previous month. Shelter inflation, which reflects home price and rental trends, continues to be the biggest driver of overall inflation. ”

Redfin –  “Investors Bought 26% of the Country’s Most Affordable Homes in the Fourth Quarter—the Highest Share on Record” (02-14-2024)

“Elevated home prices and mortgage rates, along with sluggish rents, have made low-priced homes increasingly attractive to investors.”

uDirect IRA –  “INVESTING YOUR IRA IN REAL ESTATE – 5 TIPS” (02-19-24)

“Investing your Individual Retirement Account (IRA) in real estate presents lucrative opportunities, but it entails specific rules and considerations.”

Redfin –  “Housing Market Activity Lost Steam in January as Mortgage Rates Stopped Falling and Prices Kept Rising” (02-16-2024)

“Housing market activity stalled slightly in January as mortgage rates stopped falling, housing costs climbed and buyers and sellers grappled with worse-than-expected winter weather. ”

CNBC –  “Why the U.S. won’t change physical cash” (11-07-23)

“Physical currency has been updated around the world but not in the U.S., and while an increasing number of Americans are ditching cash for electronic payments, experts say cash isn’t going away.”