The overall number of homes for sale last month increased by 2% from August, but there’s still a huge demand and a tiny inventory.
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Posted inBusiness, Local & State, News
Maine housing market stuck on falling sales, rising prices
It’s the same old song and dance as a tight inventory slows sales and pushes some prices up.
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Posted inBusiness, Nation & World, News
Average long-term U.S. mortgage rate up to 7.19%
It is another setback for would-be homebuyers navigating an increasingly less affordable housing market.
Posted inBusiness, Nation & World, News
Average long-term U.S. mortgage rate jumps to 7.23%, highest level since June 2001
It is another blow to would-be homebuyers grappling with rising home prices and a stubbornly low supply of properties on the market.
Posted inBusiness, News
Maine homebuyers challenged as prices stay high
A small statewide inventory, high buyer demand and rising interest rates keep the pressure on an already hot housing market.
Posted inLocal & State, News
Bank offers first Islamic mortgages based in Maine
The program is viewed as a watershed initiative for Maine’s immigrant community.
Posted inBusiness, Nation & World, News
Auto loan rejections are up as Federal Reserve keeps raising rates
Mortgage rates, which have surged since the Fed began lifting rates in March 2022, could rise further. So could rates on credit cards and some business loans.
Posted inBusiness, News
Maine home sales continued a familiar trend in May
The decline in sales volume and run-up in prices were similar to those in previous months, but an expert says there’s a ‘glimmer of hope’ for potential buyers.
Posted inBusiness, Local & State, News
At $10 million, one of the priciest homes in Maine history goes to former SEC chair
Richard Breeden, known as ‘King Richard’ at the Securities and Exchange Commission, bought the Knox County estate in the most expensive home sale so far this year and the 6th-highest ever in Maine.
Posted inBusiness, News
With a significant price increase in April, Maine’s housing market may be heating back up
The lack of inventory again hampered sales, but bidding wars are starting to resume and prices rose by more than 6%.