Your Future Home hosts Baker Machado and Brad Smith discuss some of the biggest news in the real estate market...including the top market for luxury real estate! U.S. mortgage rates have hit their highest level since 2014 after the ninth consecutive week of increases. The rate for a 30-year fixed rate mortgage rose to 4.46%. At the start of the year, the average rate was 3.95%. Rising rates have already made some current homeowners less likely to move, which is leading to a lack of affordable housing in the market. Plus, when it comes to luxury real estate, a million dollars doesn't buy what it used to. The London based brokerage firm Knight Bridge measured the top markets around the globe by how much property you could buy for one million dollars. According to the so-called "wealth report" Monaco took top honors for high-end real estate. One million dollars there will get you about 172 square feet...the size of a respectable walk-in closet.

Share:
More In Culture
Shannon's Summer Staycation: Best Boat Share Options
Cheddar's own Shannon LaNier is taking a staycation, and all week he'll be trying out different summer activities in New York and the surrounding area that will hopefully serve as an inspiration no matter where you live.  On Monday, Shannon traveled to Huntington, New York to get a taste of the boating life. He spoke with Maggie Maskery, head of public relations for Discover Boating, about some of the best boat share options.
Load More