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Monterey Peninsula Real Estate News
US stock indexes wavering in morning trading; oil rises
Posted on Tuesday June 27, 2017
U.S. stock indexes were wavering between small gains and losses Tuesday morning as investors sized up the latest company and economic news. Phone and utilities companies were among the biggest decliners. Banks led the gainers. Energy stocks also rose as crude oil prices headed higher. Homebuilders were up following new data on home prices.
Long-term US mortgage rates slip
Posted on Thursday June 22, 2017
Long-term U.S. mortgage rates fell slightly this week, staying low even as the Federal Reserve raises rates.
Higher prices squeezing both renters and would-be homeowners
Posted on Thursday June 15, 2017
A diminished supply of available homes is swelling prices in large U.S. metro areas from New York to Miami to Los Angeles, squeezing out would-be buyers and pushing up rents as more people are forced to remain tenants.
The trend is pressuring Americans' budgets, with about one-third of households spending more than 30 percent of their gross income on housing as of 2015, according to a report being released Friday by Harvard University's Joint Center for Housing Studies.
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