MONEY MASTER

US mortgage rates fell for a fourth straight week, edging closer to the  6% mark , though economic uncertainty continues to keep potential homebuyers on the sidelines. Rates at One-Year Low The average  30-year fixed mortgage rate  dropped to  6.17% , down slightly from  6.19%  a week earlier — the  lowest level since October 2024 , according to data from  Freddie Mac . The decline followed the  Federal Reserve’s quarter-point rate cut  on Wednesday, though  Chair Jerome Powell warned investors not to expect additional easing this year. Muted Demand Despite Lower Borrowing Costs Typically, falling rates paired with a strong stock market signal rising housing demand. But in this cycle,  buyer sentiment remains weak . Recent data showed  pending home sales were flat  in September despite  growing inventory levels , underscoring lingering caution among consumers worried about  tariffs, job security,  and t...

In a significant push to stimulate the struggling property sector , three of China's largest cities have relaxed homebuying restrictions following the central government's latest efforts. Guangzhou became the first tier-1 city to completely remove homebuyer eligibility checks and limits on the number of properties owned, according to a statement issued late Sunday. Meanwhile, Shanghai and Shenzhen announced that more people would be eligible to purchase homes in suburban areas and allowed existing homeowners to buy additional properties. In a move to further boost demand, Shanghai and Shenzhen also lowered minimum downpayment requirements, with first-home buyers needing just 15% and second-home buyers 20% . These changes come as part of China's largest stimulus package to date, aimed at revitalizing the beleaguered property market . The package includes cutting borrowing costs on up to US$5.3 trillion in mortgages and reducing down-payment requirements for second-hom...

Mortgage rates in the United States have dropped to their lowest levels in six months, providing some relief to the housing market and potentially alleviating the affordability crisis facing many homebuyers. Current Mortgage Rate The average rate for a 30-year fixed mortgage is now 6.73% , down from 6.78% last week, according to Freddie Mac. Impact on the Housing Market Increased Homebuyer Demand: The decrease in rates from over 7% earlier this year has renewed interest among homebuyers. After a challenging period, this change has led to a boost in demand, particularly evident in the rise of contracts to buy previously owned homes. In June, these contracts increased for the first time in three months, rebounding from near-record lows. Potential for Further Relief: The Federal Reserve held its benchmark rate steady at its recent meeting, but Chair Jerome Powell indicated that rate cuts could begin as early as September. This potential for lower rates might further stimulate the hous...