Homeowners are spending a median of $9,000 on bathroom renovations, which is 13% higher than last year, a new study finds. These are their favorite trends.Homeowners are spending more money to spruce up their bathrooms as the pandemic-fueled home renovation boom continues. The national median spend for bathroom renovations jumped nearly 13% year over year to $9,000, according to the 2022 U.S. Houzz Bathroom Trends Study, a survey of more than 2,
Makeover a space without breaking the bank.Home improvement projects don’t have to include knocking down walls or high-priced upgrades. There are several simple, affordable DIY home improvement projects that can give a home an entirely new feeling, says Amber Shay, national vice president of Design Studios at Meritage Homes. Shay offers up her tips for giving a home a fresh update without breaking the bank.Create a Spa-Like Bathroom Most h
Sept 9 (Reuters) - U.S. household wealth fell by a record $6.1 trillion in the second quarter to its lowest in a year as a bear market in stocks far outweighed further gains in real estate values, a Federal Reserve report showed on Friday.Household net worth tumbled to $143.8 trillion at the end of June from $149.9 trillion at the end of March, its second consecutive quarterly decline, the Fed's quarterly snapshot of the national balance sheet sh
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Borrowers stand to save thousands by gathering multiple quotes from lenders.As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save even more by gathering five different quote
High inflation eases, but price pressures still intenseThe U.S. grew slightly through end the August, a Federal Reserve survey found, but the outlook for the economy over the next year “remained generally weak” because of rising interest rates and nagging labor and supply shortages.The regular Fed survey, known as the Beige Book, said the sharp increase in prices earlier in the year has begun to fade, but that inflation “remained eleva
In June the average rate on the 30-year fixed shot over 6% briefly, and that was enough to turn the once-hot housing market on its heels. Rates pulled back in July and August, but the damage was already done. Now rates are heading past 6% yet again, causing already beleaguered mortgage demand to fall even further.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94%
Housing sales are falling in response to rising interest rates, but the real estate market is not in a recession, according to Wharton’s Fernando Ferreira. He explains why the persistent lack of supply will continue to put pressure on homebuyers.Wharton real estate professor Fernando Ferreira doesn’t believe the U.S. housing market has entered a recession.Home sales are falling in response to rising interest rates, but the
The government’s main measures of US growth pointed in different directions in the first half of 2022, adding to the ongoing debate on the health of the economy.Inflation-adjusted gross domestic product, or the total value of all goods and services produced in the economy, decreased at a 0.6% annualized rate in the April to June period, Commerce Department data showed Thursday. That reflects an upward revision to consumer spending and compares
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