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
How to Pick the Perfect Spring Wine
To celebrate the start of spring, Matt Crafton, lead winemaker at Chateau Montelena in northern California, joins Cheddar News to showcase some warm-weather wines and the best meals to pair them with.
Oklahoma Governor Signs Gender-Affirming Care Ban for Kids
Oklahoma on Monday became the latest state to ban gender-affirming medical care for minors as Republican Gov. Kevin Stitt signed a bill that makes it a felony for health care workers to provide children with treatments that can include puberty-blocking drugs and hormones.
Grab Your Fancy Duds for Met Gala Mania With Karl Lagerfeld
It's the first Monday in May: Welcome to Met Gala mania. With a livestream available when the evening gets underway, the world's most fashionable fundraiser takes on one of the world's most prolific — and controversial — designers, the late Karl Lagerfeld, as the starry party's theme.
Load More