stock

Buyers Lost Purchase Power In September, But Hope Springs From Listing Bump

Posted on by TMN Editor
Monthly payments are going up as mortgage rates continue to climb but a boost in new listings could signal a fall price cooldown. Rates have soared to their highest level in more than two decades, sending monthly housing payments to record highs. A buyer with a $3,000 monthly budget has lost almost $40,000 in purchasing power YOY as rates rose from 6.5% to nearly 8% today, according to a new analysis from Redfin. This is exacerbated by stagnant home inventory, which continues to trend down as stock shortages are keeping home prices high even as competition peters out. The total number of homes for sale is down 14%, Redfin noted. The typical home sold for $371,000 during the four weeks…

Criticism Continues as UWM’s Ishbia Increases Commitment to MSU Athletes

Posted on by TMN Editor
By KIMBERLEY HAAS Mat Ishbia is helping to privately fund a new contract for the Michigan State University football coach, who was the punchline of many jokes on social media last weekend after his team lost to Ohio State in a blowout game. The Detroit News confirmed from a source close to negotiations last week that coach Mel Tucker and officials at Michigan State University were closing in on a new 10-year, $95 million contract that would make him one of the highest-paid coaches in college football. That agreement was made possible by financial commitments from Ishbia and Shift Digital CEO Steve St. Andre. After the embarrassing 56-7 loss to the Ohio State Buckeyes on Saturday, Sports Illustrated reported some Michigan…