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An unexpected consequence of the recent bank failures is that mortgage interest rates have dropped—and could keep falling.

Homebuyers discovered the silver lining to collapses that ricocheted through the financial sector as mortgage rates briefly fell on Monday before ticking back up again, according to Mortgage News Daily‘s average rates for 30-year fixed-rate loans. Rates had dropped to 6.57% as news of the financial turmoil spread, down from just above 7% a few days earlier. But by Tuesday, they were up to 6.75% as the market absorbed the news.

As the spring housing market kicks off, normally rate drops are good news for homebuyers. Even a fraction of a percentage point decrease can equal significant savings. But buyers might be too spooked by the collapse of Silicon Valley Bank and Signature Bank and the possibility of more turbulence to make what could be the largest purchase of their lives.

“When there’s any kind of economic uncertainty, mortgage rates tend to go lower,” says Ali Wolf, chief economist of the building consultancy Zonda. “Going into the collapse of Silicon Valley Bank, mortgage rates were getting pretty close to 7%. Mortgage rates were rising, and it was starting to look bad for home shoppers.

EXp Canada has appointed veteran real estate agents John Tsai, Nadia Habib and Nathalie Goodyer to three C-suite positions, according to the company. Tsai joined the brokerage in 2017.

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To secure their next home, buyers are going to need some capital. To find the hottest metros in the U.S. right now, prospective homebuyers might want to look to the capital—their state capital, that is.

That’s a common theme among a surprising number of February’s hottest metropolitan areas, according to a recent Realtor.com® report. From the East Coast to the Midwest, 4 of the top 10 metro areas are home to one of the most stable employers out there: the government.

In February, the Manchester, NH, metro tied for the No. 1 spot on the Realtor.com monthly Hottest Markets ranking with Rochester, NY. This was the 20th time Manchester snagged the top spot and the seventh for Rochester.

(Metro areas in the report are ranked by how often Realtor.com users click on listings, as well as how quickly properties sell. Metros include the main city and surrounding towns, suburbs, and smaller urban areas.)

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Sorry, Miami residents—you might want to put pest control on speed dial.

The Magic City has earned the dubious honor of being the No. 1 urban area for termite infestations, according to Orkin’s Top 50 Termite Cities list. Miami, by the way, is reclaiming its long-running “prize,” which it temporarily ceded to Los Angeles last year. This year, L.A. ranks No. 2, with Tampa, FL, nibbling at its timbers at No. 3.

The ranking is based on metropolitan areas (cities and their surrounding towns) where Orkin performed the most first-time termite treatments between February 2022 and January 2023.

The cities sitting at the top of the termite heap share similar coastal climates, making them ideal places for subterranean and drywood species of termites to feast.

HGTV

Season 4 of “Rock the Block” is the perfect pupu platter for viewers who want a general glimpse of what home designers are doing these days—and the latest episode focuses on a truly make-or-break area of the house.

In the episode “Living Room Face Off,” host Ty Pennington declares the challenge is to “make a great first impression with the entry area and living room.”

The competition, based this time in Berthoud, CO, will be tight for the four teams of design stars, which include Bryan and Sarah Baeumler from “Renovation Island,” Michel Smith Boyd and Anthony Elle from “Luxe for Less,” Jonathan Knight and Kristina Crestin from “Farmhouse Fixer,” and Page Turner and Mitch Glew from “Fix My Flip.”

Knight and Crestin won last week’s kitchen challenge, so they’re the team to beat.

The number of U.S. cities where the typical home value was $1 million or more has dropped from a high of 522 in July 2022 to 464 as of January 2023.

While the Consumer Price Index jumped a modest 0.4 percent month over month, the collapse of Silicon Valley Bank and Signature Bank could keep interest rate hikes at bay, economists said Tuesday.

U.S. District Judge Reed O'Connor on Monday granted a motion to compel arbitration in Davis’s case filed in February by Keller Williams, Gary Keller and former KW President Josh Team.

A short-term fix by the federal government helped thousands of property managers keep the lights on after the collapse of Signature and Silicon Valley Bank. But lending will be tougher now, experts told Inman.

There are many different types of residential roofs, each with their own advantages and disadvantages. Here are some of the most common types: Asphalt shingles: Asphalt shingles are the most common type of roofing material in the United States. They are relatively inexpensive, durable, and come in a variety of colors and styles.Metal roofing: Metal...

Unlike most other types of investments, it turns out that "infinite returns" are possible in real estate investing. Here's how it's done.

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Rockstar Energy Drink creator Russell Weiner has listed his Park City, UT, home for a whopping $50 million. It is the most expensive listing in the state.

Built last year, the mansion boasts many luxury amenities designed for a billionaire, including a wellness wing and a ski room tricked out with vintage skis on the ceiling.

The 17,567-square-foot home has never been slept in, according to the Wall Street Journal. It last came on the market in December 2021 for $42 million, and Weiner purchased it in May 2022 for $39.6 million.

Weiner reportedly upgraded the interiors of the six-bedroom, eight-bath home, including adding an air filtration system, according to the listing.

SkySlope’s workflow benefits will enhance rental application and tenant screening actions, tools that help smooth out friction-prone, manual processes, RentSpree executives said Tuesday.

Ms. Williams’s brief to her designer was simple: ‘Imagine if Josephine Baker lived in Harlem today. That’s what I want this apartment to look like.’

The broadcaster and author’s brief to her designer was simple: ‘Imagine if Josephine Baker lived in Harlem today. That’s what I want this apartment to look like.’

Photo courtesy of Debi Treloar / Ryland Peters & Small | CICO Books via Houzz

Your parents and grandparents collected whole suites of brown furniture and gilded framed art for their living and dining rooms—and now a lot of it seems to be coming your way.

Sure, you’d like to acknowledge their thoughtful gifts. But clinging to a family heirloom in your decor just because your grandmother wanted a rustic blanket chest can sink a look you’re trying to create.

So take a breath, and realize it’s perfectly OK to donate items you don’t actually like. But if you want to update your pieces, check out these six innovative ways to integrate fusty, old decor into your space without looking like you’re living in the past.

Paint it bright

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Sellers are sitting in the driver’s seat of today’s idling housing market. So why are they stalled behind the wheel?

Typically, as winter turns to spring, the housing market thaws. Sellers prepare their homes for showings and scrutiny, and buyers review their wish lists and budgets. But with home prices falling from their peaks in many areas, mortgage interest rates around 7%, and tons of economic uncertainty, many prospective sellers are still sitting on the sidelines. New home listings, the lifeblood of the real estate market, are down by double-digit percentages over last year.

For some home sellers, apprehension is leading to paralysis. They have plenty of questions: Will buyers show up ready to bid high despite the financial challenges they’re facing? How much should owners be spending on repairs and cosmetic touches to make their homes more appealing? And has the best moment to sell already passed?

While it’s still a seller’s market, the days when a homeowner could list a property that needs renovations, hasn’t been staged (or even cleaned), and receives 25 offers well over the asking price within a weekend are mostly over. Many buyers can’t afford the high prices and rates, so bidding wars have died down, as have offers coming in well over list prices. These days, many sellers are accepting lower offers as their homes languish on the market for months.

Investing in rental properties is one of the most dependable methods of building wealth. You give yourself the best chance of success when you know exactly what you’re getting into.

Want to do more than write a sonnet with the latest AI tools? Here’s how to put them to work on your content, and the platforms you need now.

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Calling all Disney princess fans! A regal setting featured in one of your favorite film franchises has begun its reign on the market in San Francisco, CA.

The neoclassical Mediterranean mansion featured in “The Princess Diaries,” starring Anne Hathaway and Julie Andrews, is now available for $8.9 million.

The home’s Beaux Arts exterior served as the setting of the fictional school that Princess Mia (Hathaway) attended before her true identity was revealed.

In addition to the grand double-curved staircase out front, the century-old home has an array of other camera-friendly highlights.