MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 6/24/2024 – 7/1/2024
Let’s see what the market’s doing this week in the Riverdale area of the Bronx.
Did You Know?
* Developers of luxury rental buildings are increasingly using amenities—from pickleball courts and podcast studios to “jam rooms”— to woo residents and help their projects stand out from the pack. Over the last decade or so, offerings in rental buildings have grown from a small fitness center and party room to robust suites of amenities to match those found in expensive condos. (WSJ)
* UK home prices rose in June unexpectedly, rising 1.5% over 2023. (FT)
* Tech titans are battling it out to secure new power from nuclear sources…. directly, and no, not for your EV, heat pump or induction stove: they need LOTS of power for A.I. and other power-consuming tech. (WSJ)
Mortgage Rate Updates
The average rate for a 30-year fixed mortgage fell by 1 bps from the previous week to 6.86% as of June 27th, the lowest in nearly three months, according to Freddie Mac. The average rate for a 30-year mortgage was 6.71% in the corresponding period of the previous year. “The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Sam Khater, Freddie Mac’s Chief Economist. “By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer months, bringing additional homebuyers back into the market.
Source: Freddie Mac
