While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now? Greg McBride, Chief Financial Analyst at Bankrate, explains how inflation is affecting the housing market: “Inflation will have a strong influence on where mortgage rates go in the months ahead. . . . Whenever inflation finally starts to ease, so will mortgage rates — but even then, home prices are still subject to demand and very tightRead More →

Right now, many homebuyers are feeling some pressure to buy a house fast, fearing that mortgage rates (which have doubled from 3% to 6% in the past year alone) could rise even higher, upping the cost of financing a house. Yet buying a home can be a mind-numbingly slow process, broken up by periods of confusingly frantic activity. It goes something like this: Look at a zillion homes before you think you’ve found one. Hurry up and get in your offer … and then wait. Submit a million letters to the underwriter … and then wait. And don’t even get us started on closing. The average time for closingRead More →

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The typical asking price for a home on the market took a modest downward turn in late May and early June, a sign of a softening market. Sellers are taking a more cautious approach when setting their asking prices as a greater share of their higher-shooting peers get burned. The median asking price of newly listed homes tracked by Redfin dropped by 1.5 percent in the four-week period ending June 26, the Seattle-based real estate company said in a new report. Half of home listings in that period asked for $405,547 or less, a modest decline from the previous four-week period, which was an all-time high for askingRead More →

It’s that time of the year again! Every Fourth of July, people all across Queens and the nation will gather around to celebrate America’s Independence Day by watching the yearly fireworks show. But getting the best view is not always an easy task. This year, Macy’s is once again holding its 4th of July Fireworks Spectacular Event, which will feature its fireworks display by Pyro Spectaculars. Revelers can view this show from prime spots in Hunters Point South Park or Gantry Plaza State Park in Long Island City. Event Cruises NYC is also offering cruises for those who don’t want to deal with the crowds on land during the show complete with foodRead More →

If you’re following along with the news today, you’ve heard about rising inflation. Today, inflation is at a 40-year high. According to the National Association of Home Builders (NAHB): “Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above an 8% rate and was the largest year-over-year gain since December 1981.” With inflation rising, you’re likely feeling it impact your day-to-day life as prices go up for gas, groceries, and more. These climbing consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you haveRead More →