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Mortgage Applications Down Despite Falling Interest Rates

Mortgage Applications Down Despite Falling Interest Rates

Demand for mortgages has fallen for a month straight, despite mortgage interest rates retreating from their previous highs. This drop in mortgage applications is attributed to a number of factors, including interest rates still being significantly higher than they were in previous years, as well as a continuing lack of available inventory for purchase. Refinancing applications also remain low, due in no small part to high interest rates making refinancing an unappealing option.

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Companies Begin To Offload Office Buildings At Deep Discounts

Companies Begin to Offload Office Buildings at Deep Discounts

Prior to the COVID-19 pandemic, office space was at a premium in cities across the country, especially in markets like New York City. However, with many formerly commuting employees now working from home, many companies have begun to offload their lower-value office buildings, often at a deep discount compared to their original value. As a result, there is a potential opportunity for companies that may be searching for relatively affordable office space in the city.

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Uncertainty In Housing Market Led To Falling Sales In April

Uncertainty in Housing Market Led to Falling Sales in April

Housing sales fell by 3.4% between March and April as a result of uncertainty in the housing market, with many prospective buyers concerned about the effects of high prices and ever-shifting interest rates. Although prices have fallen somewhat since the beginning of the year, homes remain substantially more expensive than they were at the same time last year, with many homes outside the realm of affordability. Thus, it seems that many homebuyers are waiting for a more stable market that can better suit their needs.

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