When applying for a mortgage, a multitude of factors can lead an application to be denied, with unverifiable income being one of the most significant pitfalls. Understanding the reasons behind this and the potential paths forward is crucial for prospective homebuyers. From various forms of income to alternative mortgage options, this article aims to shed
Real Estate
The recent federal indictment of Tal and Oren Alexander, along with their brother Alon, has sent shockwaves through not only New York’s luxury real estate realm but society at large, illustrating the disturbing intersection of wealth, power, and sexual violence. Prosecutors claim that the brothers orchestrated a horrifying sex trafficking operation that preyed on numerous
On Wednesday, the Federal Reserve made headlines with its decision to lower the benchmark interest rate by 25 basis points, marking the third consecutive cut since September. This cumulative drop of one percentage point comes as a response to the economic challenges faced by consumers following an aggressive series of rate hikes—11 in total—between March
In recent months, the previously owned home market has demonstrated a promising uptick, with sales surging by 4.8% in November compared to October, as reported by the National Association of Realtors (NAR). This increase places the seasonally adjusted annualized sales rate at an impressive 4.15 million units. Notably, these figures represent a substantial 6.1% rise
In a climate marked by economic variability, the Federal Reserve’s decision to lower interest rates three times in 2024 has stirred debate and speculation among homeowners and potential buyers alike. With many Americans keenly observing the financial landscape, the prospect of declining mortgage rates leads to a sense of anxious anticipation. However, market analysts believe
In a surprising turn of events, the Federal Reserve announced its third interest rate cut of 2024 on December 19. Despite the central bank’s efforts to stimulate economic activity through lower borrowing costs, the opposite occurred in the mortgage market, where rates ballooned instead. Data from Freddie Mac revealed that the average rate on a
In the dynamic landscape of stock trading, momentary dives can create significant buying opportunities for astute investors. Recently, Jim Cramer’s Charitable Trust made calculated trades by purchasing 50 shares in CrowdStrike and 25 in Home Depot, signaling a strategic approach amid market fluctuations. Each share in these companies was priced around $354 and $390, respectively.
In the ever-evolving housing market, potential buyers face a myriad of challenges, including high prices and fluctuating interest rates. As we look towards 2025, a new report from the National Association of Realtors (NAR) sheds light on ten metropolitan areas identified as “housing hot spots.” This classification isn’t merely a label; it reflects various economic
The mortgage landscape has experienced significant fluctuations recently, with rates on the rise. According to data from the Mortgage Bankers Association, the average contract interest rate for a standard 30-year fixed-rate mortgage surged to 6.75%, a slight increase from the previous week’s rate of 6.67%. This marks a pivotal moment, as total mortgage application volume
In the ever-evolving landscape of stock trading, the importance of adapting to market conditions cannot be overstated. Recently, significant moves were made within Jim Cramer’s Charitable Trust, where the scope of investment has broadened with strategic purchases of Home Depot (HD) and BlackRock (BLK). By acquiring 25 shares of Home Depot at approximately $407 each