After taking a breather for several weeks, mortgage rates climbed again. The 30-year, fixed-rate mortgage averaged 5.23% in the week ending June 9, up from 5.09% the week before, according to Freddie Mac. The rate remains well above the 2.96% average from this time last year. "After little movement the last few weeks, mortgage rates rose again on the back of increased economic activity and incoming inflation data," said Sam Khater, Freddie Mac's chief economist. Read More
Asking rents were up over 30% in Cincinnati, Seattle, and Nashville and nearly 50% in Austin. The median monthly asking rent in the U.S. surpassed $2,000 for the first time in May, rising 15% year over year to a record high of $2,002. That’s on par with April’s annual increase of 15%, but a slowdown from March’s 17% gain. Read More
Disney has abruptly fired Peter Rice, its most senior television content executive. Read More