Home mortgages articles
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What is a halal mortgage? How interest-free home financing works in Canada
As part of the 2024 federal budget released last week, Ottawa said it is 'exploring new measures to expand access to alternative financing products, like halal mortgages.'
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Home Sales Drop in March as Mortgage Rates Surge over 7 Percent
Existing home sales shrank in March as consumers respond to continuing price increases and rising mortgage rates. Sales for existing homes fell 4.3% in March compared to the previous month and 3.7% year-over-year, to an annual rate of 4.19 million, according to a press release from the National Association of Realtors (NAR). The average for a 30-year fixed-rate mortgage reached 7.10% this week, a substantial jump from 6.88% last week, depressing Americans’ desire to switch homes and possibly...
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As home sellers, buyers wait on a Fed cut, here's how mortgage rates have impacted the spring housing market
While some buyers have come to terms with 7% interest rates, the rate volatility is the factor with the biggest impact, an economist says.