In a pair of rulings, the U.S. Circuit Court of Appeals for the District of Columbia has rejected the National Association of Realtors petition for a rehearing in its case with the Justice Department.
The latest actions follow a 2-1 split decision that allowed the Biden Administration to reopen a case the trade group thought it had settled while Donald Trump was president.
But the Biden Administration never finalized the agreement and looked to reopen the investigation.
“This ruling stands in opposition to years of precedent on the interpretation of government contracts and the bedrock principle that the government must honor its word,” a NAR spokesperson said. “We are evaluating all remaining legal options and are committed to exploring all avenues to ensure the DOJ is held to the terms of our 2020 agreement.”
Some speculated that the April ruling could lead to more involvement by the Justice Department in cases involving real estate broker commissions and multiple listing services activities. Most recently, the Department filed an amicus brief, albeit in support of neither side, calling on Ninth Circuit Court of Appeals to reopen a case filed by Real Estate Exchange, also known as REX, against NAR and Zillow.
NAR has also entered into settlement agreements with some of the various plaintiffs in the buyer’s real estate broker fee commission cases, with a number of observers speculating that it wouldn’t have taken the action without the Justice Department’s blessing. But the DOJ’s actions since then have dispelled that conjecture.
After the April decision came out, NAR filed an appeal asking for both a rehearing among the three judge panel that initially decided the matter, as well as for an en banc hearing, where all members of the court would then rule on the case.
Both motions were rejected in single-page rulings without detailed explanation.
“Upon consideration of appellee’s petition for panel rehearing filed on May 20, 2024, it is ordered that the petition be denied,” wrote the unanimous three-judge panel consisting of Judge Karen Henderson, Judge Justin Walker and Judge Florence Pan.
The entire court, with the exception of Judge Bradley Garcia, participated in the unanimous ruling denying NAR’s request.
“Upon consideration of appellee’s petition for rehearing en banc, the response thereto, and the absence of a request by any member of the court for a vote, it is ordered that the petition be denied,” the unsigned ruling said.
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Mortgage rates are down in response to slowing inflation and renewed hopes that the Federal Reserve could cut the federal funds rate multiple times this year.
After spending most of the month in the upper 6% range, 30-year mortgage rates have finally dropped back down below 6.5%, according to Zillow data.
Last week, the Bureau of Labor Statistics reported that the Consumer Price Index rose 3.0% year over year in June. This was a significant cooldown from the previous month and lower than what many forecasters were expecting. As a result, mortgage rates decreased.
As long as inflation continues to slow, mortgage rates should ease throughout the remainder of 2024, improving affordability for hopeful homebuyers. If you’re in the process of shopping for a home right now, you can limit the impact of today’s still-high rates by getting quotes from at least three different mortgage lenders to be sure you’re getting the best deal.
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Use our free mortgage calculator to see how today’s mortgage rates would impact your monthly payments. By plugging in different rates and term lengths, you’ll also understand how much you’ll pay over the entire length of your mortgage.
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$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
Click “More details” for tips on how to save money on your mortgage in the long run.
Mortgage Rates for Buying a Home
30-Year Fixed Mortgage Rates Fall (-0.47%)
The current average 30-year fixed mortgage rate is 6.21%, down 47 basis points from where it was this time last week, according to Zillow data. This rate is also down compared to a month ago, when it was 6.62%.
At 6.21%, you’ll pay $613 monthly toward principal and interest for every $100,000 you borrow.
The 30-year fixed-rate mortgage is the most common type of home loan. With this type of mortgage, you’ll pay back what you borrowed over 30 years, and your interest rate won’t change for the life of the loan.
20-Year Fixed Mortgage Rates Inch Decrease (-0.40%)
The average 20-year fixed mortgage rate is 40 basis points down from where it was last week, and is sitting at 6.03%. This time last month, the rate was 6.26%.
With a 6.03% rate on a 20-year term, your monthly payment will be $718 toward principal and interest for every $100,000 borrowed.
A 20-year term isn’t as common as a 30-year or 15-year term, but plenty of mortgage lenders still offer this option.
15-Year Fixed Mortgage Rates Go Down (-0.41%)
The average 15-year mortgage rate is 5.66%, 41 basis points lower than last week. It’s down compared to this time last month, when it was 6.05%.
With a 5.66% rate on a 15-year term, you’ll pay $826 each month toward principal and interest for every $100,000 borrowed.
If you want the predictability that comes with a fixed rate but are looking to spend less on interest over the life of your loan, a 15-year fixed-rate mortgage might be a good fit for you. Because these terms are shorter and have lower rates than 30-year fixed-rate mortgages, you could potentially save tens of thousands of dollars in interest. However, you’ll have a higher monthly payment than you would with a longer term.
7/1 ARM Rates Drop (-0.30%)
The 7/1 adjustable mortgage rate is down 30 basis points from a week ago at 6.39%. It’s also down compared to a month ago, when it was at 6.97%.
At 6.39%, your monthly payment would be $625 toward principal and interest for every $100,000 borrowed — but only for the first seven years. After that, your payment would increase or decrease annually depending on the new rate.
5/1 ARM Rates Lower This Week (-0.37%)
The average 5/1 ARM rate is 6.26%, a 37-basis-point decrease from last week. It’s down compared to where it was a month ago, when it was 6.79%.
Here’s how a 6.26% rate would affect you for the first five years: You’d pay $616 per month toward principal and interest for every $100,000 you borrow.
30-Year FHA Rates Fall (-0.45)
The average 30-year FHA interest rate is 5.54% today, down 45 basis points from the week before. This rate was 6.10% a month ago.
At 5.54%, you would pay $570 monthly toward principal and interest for every $100,000 borrowed.
FHA mortgages are good choices if you don’t qualify for a conforming mortgage. You’ll need a 3.5% down payment and 580 credit score to qualify.
30-Year VA Rates Tick Down (-0.27%)
The current VA mortgage rate is 5.58%, 27 basis points lower than this time last week. This rate was 6.04% a month ago.
With a 5.58% rate, your monthly payment would be $573 toward principal and interest for every $100,000 you borrow.
Mortgage Refinance Rates
30-Year Fixed Refinance Rates Decrease (-0.39%)
The average 30-year refinance rate is 7.45%, 39 basis points down from last week. It’s down compared to a month ago, when it was 7.79%.
Here’s how a 7.45% rate would affect your monthly payments: You’d pay $696 toward principal and interest for every $100,000 borrowed.
Refinancing into a 30-year term can land you lower monthly payments, but you’ll ultimately pay more by refinancing into a longer term.
20-Year Fixed Refinance Rates Drop a Bit (-0.17%)
The current 20-year fixed refinance rate is 6.62%, which is down 17 basis points compared to a week ago. This rate was 7.11% this time last month.
A 7.53% rate on a 20-year term will result in a $807 monthly payment toward principal and interest for every $100,000 you borrow.
15-Year Fixed Refinance Rates Tick Up (+0.23%)
The average 15-year fixed refinance rate is 6.15%, which is 23 basis points higher compared to last week. It’s down slightly compared to this time a month ago, when it was at 6.28%.
A 6.15% rate on a 15-year term means you’ll pay $852 each month toward principal and interest for every $100,000 borrowed.
Refinancing into a 15-year term can save you money in the long run, because you’ll get a lower rate and pay off your mortgage faster than you would with a 30-year term. But it could result in higher monthly payments.
7/1 ARM Refinance Rates Fall (-0.53%)
The average 7/1 ARM refinance rate is 6.43%, down 53 basis points from where it was last week. It’s also down from a month ago, when it was 6.83%.
Refinancing into a 7/1 ARM with a 6.43% rate means your monthly payment toward principal and interest will be $627 for every $100,000 you borrow. This will be the payment for the first seven years, then your rate will change annually unless you refinance again.
5/1 ARM Refinance Rates Go Down (-0.13%)
The 5/1 ARM refinance rate is 6.25%, which is 13 basis points lower than it was this time last week. It’s down compared to this time last month, when it was 6.50%.
A 6.25% rate will result in a monthly payment of $616 toward principal and interest for every $100,000 borrowed. You’ll pay this amount for the first five years of your new mortgage.
30-Year FHA Refinance Rates Drop Slightly (-0.16)
The 30-year FHA refinance rate is 5.63%, which is down 16 basis points from this time last week. It was 5.79% a month ago.
A 5.63% refinance rate would lead to a $576 monthly payment toward the principal and interest per $100,000 borrowed.
30-Year VA Refinance Rates Inch Down (-0.06)
The average 30-year VA refinance rate is 5.85%, which is down six basis points compared to where it was was last week. This rate was 5.88% a month ago.
At 5.85%, your new monthly payment would be $590 toward principal and interest for every $100,000 you borrow.
Are Mortgage Rates Going Down?
Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year. Though rates have been somewhat elevated recently, they should go down by the end of 2024.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease further. Check out some of our best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
Mortgage rates fell in the week ending July 11, with fixed rates seeing their largest week-over-week drop since May.
The 30-year fixed-rate mortgage averaged 6.77%, down 17 basis points from the previous week’s average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.
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As inflation cools, so should interest rates
On July 11, the Bureau of Labor Statistics released an encouraging consumer price index (CPI) report, which measures the changes in price of consumer goods and services. This key indicator of the rate of inflation is something that the Federal Reserve takes into serious consideration when determining what to do about interest rates.
Throughout 2024, the Fed has been repeating some version of the same message: When inflation gets better, we can talk about cutting rates. Much to the chagrin of prospective home buyers, the Fed has consistently elected to hold rates steady throughout the year. This has kept mortgage rates elevated as home prices have continued to rise, contributing to an increasingly unaffordable real estate market for many shoppers.
This latest report indicates that the CPI fell 0.1% from May to June, and the “core CPI” — which removes food and energy prices from the equation, as these are more volatile areas of the economy — shows that inflation has slowed to 3.3%, its lowest yearly rate in over three years. This is just the kind of “good data” that the Fed needs to justify cutting rates.
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The Fed keeps its cards close to the chest
While home shoppers can rejoice in the news that a cut may (emphasis on that word) be coming in the fall, Federal Reserve Chair Jerome Powell was reserved in his testimony before the Senate Committee on Banking, Housing and Urban Affairs on July 9.
“We continue to make decisions meeting by meeting,” he said, noting that loosening the policy restraints too quickly or too much “could stall or even reverse the progress that we’ve seen.” At the same time, failing to lower rates or reacting too conservatively on them could alternatively weaken employment and the economy. The next meeting of the Federal Open Market Committee will take place on July 30-31.
The Fed isn’t the only body that likes to see positive economic data. Even without intervention by central bankers, rates are affected by market sentiment. If coming reports continue to show that inflation is slowing, borrowers could see mortgage rates slip here and there even before we get a formal cut to the federal funds rate.
Mortgage rates fell in the week ending July 11, with fixed rates seeing their largest week-over-week drop since May.
The 30-year fixed-rate mortgage averaged 6.77%, down 17 basis points from the previous week’s average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.
Today’s average mortgage rates on Jul. 11, 2024, compared with one week ago. We use rate data collected by Bankrate as reported by lenders across the US.
Mortgage rates constantly change, but there’s a good chance they’ll fall this year. To get the lowest rate, shop around and compare offers from different lenders. Enter your information below to get a custom quote from one of CNET’s partner lenders.
About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.
Refinance rate news
When mortgage rates hit historic lows during the pandemic, there was a refinancing boom, as homeowners were able to nab lower interest rates. But with current average mortgage rates around 7%, getting a new home loan isn’t as financially viable.
Early in the year, hopes were high for a summer rate cut from the Fed. But over the past few months, inflation has remained high and the labor market strong, making it clear to investors that the Fed will take longer than expected to lower rates.
Higher mortgage rates make refinancing less attractive to homeowners, making them more likely to hold onto their existing mortgages.
What to know about 2024 refinance rate trends
“The odds are good that rates will end 2024 lower than they are now,” said Keith Gumbinger, vice president of mortgage site, HSH.com. But predicting exactly where mortgage rates will end up is difficult because it hinges on economic data we don’t yet have.
If inflation continues to improve and the Fed is able to cut rates, mortgage refinance rates could end the year between 6% and 6.5%.
But data showing higher inflation could cause investors to reconsider the likelihood of Fed rate cuts and send mortgage rates higher, according to Orphe Divounguy, senior economist at Zillow Home Loans.
If you’re considering a refinance, remember that you can’t time the economy: Interest rates fluctuate on an hourly, daily and weekly basis, and are influenced by an array of factors. Your best move is to keep an eye on day-to-day rate changes and have a game plan on how to capitalize on a big enough percentage drop, said Matt Graham of Mortgage News Daily.
What to know about refinancing
When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you’ll tap into your equity with a new loan that’s bigger than your existing mortgage balance, allowing you to pocket the difference in cash.
Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it’s the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly.
How to choose the right refinance type and term
The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates.
30-year fixed-rate refinance
For 30-year fixed refinances, the average rate is currently at 6.99%, a decrease of 9 basis points compared to one week ago. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term.
15-year fixed-rate refinance
For 15-year fixed refinances, the average rate is currently at 6.49%, a decrease of 6 basis points compared to one week ago. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you’ll save more money over time because you’re paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run.
10-year fixed-rate refinance
For 10-year fixed refinances, the average rate is currently at 6.31%, a decrease of 11 basis points from what we saw the previous week. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment.
To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don’t forget to speak with multiple lenders and shop around.
Does refinancing make sense?
Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance:
To get a lower interest rate: If you can secure a rate that’s at least 1% lower than the one on your current mortgage, it could make sense to refinance.
To switch the type of mortgage: If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage.
To eliminate mortgage insurance: If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity.
To change the length of a loan term: Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run.
To tap into your equity through a cash-out refinance: If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense.
To take someone off the mortgage: In case of divorce, you can apply for a new home loan in just your name and use the funds to pay off your existing mortgage.
Today’s average mortgage rates on Jul. 10, 2024, compared with one week ago. We use rate data collected by Bankrate as reported by lenders across the US.
Mortgage rates constantly change, but there’s a good chance they’ll fall this year. To get the lowest rate, shop around and compare offers from different lenders. Enter your information below to get a custom quote from one of CNET’s partner lenders.
About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.
Current refinance rate trends
When mortgage rates hit historic lows during the pandemic, there was a refinancing boom, as homeowners were able to nab lower interest rates. But with current average mortgage rates around 7%, getting a new home loan isn’t as financially viable.
Early in the year, hopes were high for a summer rate cut from the Fed. But over the past few months, inflation has remained high and the labor market strong, making it clear to investors that the Fed will take longer than expected to lower rates.
Higher mortgage rates make refinancing less attractive to homeowners, making them more likely to hold onto their existing mortgages.
Where refinance rates are headed in 2024
“The odds are good that rates will end 2024 lower than they are now,” said Keith Gumbinger, vice president of mortgage site, HSH.com. But predicting exactly where mortgage rates will end up is difficult because it hinges on economic data we don’t yet have.
If inflation continues to improve and the Fed is able to cut rates, mortgage refinance rates could end the year between 6% and 6.5%.
But data showing higher inflation could cause investors to reconsider the likelihood of Fed rate cuts and send mortgage rates higher, according to Orphe Divounguy, senior economist at Zillow Home Loans.
If you’re considering a refinance, remember that you can’t time the economy: Interest rates fluctuate on an hourly, daily and weekly basis, and are influenced by an array of factors. Your best move is to keep an eye on day-to-day rate changes and have a game plan on how to capitalize on a big enough percentage drop, said Matt Graham of Mortgage News Daily.
What does it mean to refinance?
When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you’ll tap into your equity with a new loan that’s bigger than your existing mortgage balance, allowing you to pocket the difference in cash.
Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it’s the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly.
How to choose the right refinance type and term
The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates.
30-year fixed-rate refinance
The average 30-year fixed refinance rate right now is 7.03%, a decrease of 2 basis points over this time last week. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term.
15-year fixed-rate refinance
The current average interest rate for 15-year refinances is 6.59%, a decrease of 7 basis points from what we saw the previous week. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you’ll save more money over time because you’re paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run.
10-year fixed-rate refinance
The current average interest rate for a 10-year refinance is 6.43%, a decrease of 25 basis points over last week. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment.
To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don’t forget to speak with multiple lenders and shop around.
When to consider a mortgage refinance
Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance:
To get a lower interest rate: If you can secure a rate that’s at least 1% lower than the one on your current mortgage, it could make sense to refinance.
To switch the type of mortgage: If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage.
To eliminate mortgage insurance: If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity.
To change the length of a loan term: Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run.
To tap into your equity through a cash-out refinance: If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense.
To take someone off the mortgage: In case of divorce, you can apply for a new home loan in just your name and use the funds to pay off your existing mortgage.
One of the most influential names in real estate is once again showing us how it’s done.
Influencer, motivational speaker, bestselling author, and prominent real estate investor Grant Cardone is selling his beachfront mansion in Florida for $42 million.
But throwing cash at the seasoned investor won’t do the trick.
He wants 646 Bitcoin for his one-of-a-kind house in Golden Beach, Florida — which was formerly home to fashion designer Tommy Hilfiger, who sold it to the billionaire businessman back in 2021 for $24 million.
Cardone, who founded Cardone Capital, a real estate investment firm that manages a portfolio of billions in assets, listed his Florida residence on PropyKeys, a leading blockchain-based platform for real estate transactions.
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The offering: what 646 Bitcoin will buy you in Florida
Photo credit: Elad Elkoubi / Swift Pics Photography
The Golden Beach residence sits on a 0.63-acre oceanfront lot, with its own private beachfront access and 100 feet of pristine shoreline.
Built in 2007, it features over 13,000 square feet of luxury interior space, with 7 bedrooms and 8 baths. Also on the grounds of the property, there is a heated saltwater pool and a private beach cabana.
The house has sophisticated interiors by Martyn Lawrence Bullard
Photo credit: Elad Elkoubi / Swift Pics Photography
Celebrity interior designer Martyn Lawrence Bullard — who was also one of the leading stars of Bravo’s short-lived Million Dollar Decorators — designed the interiors of the $42 million abode.
Bullard, who also decked out the homes of other celebs like Eva Mendes, Ellen Pompeo Kylie Jenner, Khloe and Kourtney Kardashian, Cher, Sharon and Ozzy Osbourne, to name just a few, is known for his broad-ranging, sophisticated yet eclectic style.
The interiors were designed to accommodate an extensive art collection
Photo credit: Elad Elkoubi / Swift Pics Photography
Bullard is the one who fitted the now-famous residence with vibrant spaces filled with patterned ceilings, walls and floors, interesting sculptures, and bright carpeting — meant to highlight the previous owners’ extensive pop art collection.
Previously home to fashion mogul Tommy Hilfiger
Photo credit: Elad Elkoubi / Swift Pics Photography
Cardone bought the house from fashion designer Tommy Hilfiger and his wife, Dee Ocleppo, who had been trying for years to land a buyer for their Golden Beach house. They had listed it for as much as $27.5 million, before the 10x Rule author took it off their hands in 2021 for $24 million.
Bold interiors, artsy decor & sophisticated touches hint at its famous past owner
Photo credit: Elad Elkoubi / Swift Pics Photography
While under Hilfiger’s ownership, the Florida mansion graced the cover of many interior design magazines, and was heavily featured in the media — Architectural Digest included.
And it’s easy to see why. Even after the Cardones toned down the interiors slightly with modern upgrades, the house still features dramatic interior touches that include a black marble staircase, chevron-patterned marble floors in the dining room, and reflective ceilings, to name just a few.
It underwent extensive renovations in the past three years
Photo credit: Elad Elkoubi / Swift Pics Photography
Grant and Elena Cardone invested heavily in updating the 2007-built mansion.
Since they purchased it back in 2021, the couple has meticulously renovated the property, replacing some of the finishes (like the patterned walls and floors) designer Martyn Lawrence Bullard added for the Hilfigers, and replacing them with designer choices that can appeal to a wider demographic of potential buyers.
The outdoor areas have been spruced up the most
Most recently, in 2023, the two have been hard at work updating the property’s outdoor areas, including renovating the pool deck and bar/grill area and upgrading the landscaping. They’ve also added new ocean-side windows and doors.
Photo credit: Elad Elkoubi / Swift Pics PhotographyPhoto credit: Elad Elkoubi / Swift Pics PhotographyPhoto credit: Elad Elkoubi / Swift Pics Photography
There’s also a charming beach cabana
Impressive as the main house might be, it’s not the only structure on the property. There’s also a charming beach cabana that neighbors the heated saltwater pool.
See also: Larry Ellison’s house, the $173M Gemini Mansion in Florida
Photo credit: Elad Elkoubi / Swift Pics Photography
Cardone is embracing blockchain technology
“We are all in on blockchain revolutionizing real estate! We are leveraging top-tier technology to make transactions seamless and unstoppable,” Cardone said in a statement, providing insight into his decision to list the property via blockchain, as opposed to more traditional platforms.
“This is the future of real estate, and we’re leading the charge,” the Sell or Be Sold author stated.
Photo credit: Elad Elkoubi / Swift Pics Photography
The platform he chose to list his property
As one of the most prominent figures in real estate, Cardone could have partnered with practically any platform. But he went with Propy, a Silicon Valley-based proptech company that’s happy to partner with the seasoned investor:
“It is a privilege to us to be the platform of choice for high-end property sales that we offer to our community of HNWI investors and crypto buyers,” said Natalia Karayaneva, CEO of Propy. “The inclusion of Cardone’s listing in BTC and USD on Propy, minted with our latest privacy deed feature, highlights our leadership in the intersection of real estate and crypto.”
Photo credit: Elad Elkoubi / Swift Pics Photography
Also publicly listed with his wife as the listing agent
The Golden Beach house is also up on the MLS, with Zillow and other property websites showing the billionaire’s wife as the agent attached to the listing.
Photo credit: Elad Elkoubi / Swift Pics Photography
An eXp Realty agent, Elena Cardone got her real estate license just a few years ago, per her LinkedIn profile, but has already been making a splash on the Miami real estate scene. An older LinkedIn post shows that Elena and her team had over $840 million in sales volume in 2022 alone.
Rumor has it he’s also selling his Malibu Beach abode
Photo credit: Elad Elkoubi / Swift Pics Photography
Over on the other Coast, Cardone owns a $40 million “Castle on the Sand” in Malibu, California a 6-bedroom, 10-bathroom beachfront residence that might have a similar fate to his Florida abode.
The Undercover Billionaire star paid a whopping $40 million for the house back in 2022, which sits in the pricey Carbon Beach area of Malibu, also known as Billionaire’s Beach.
He reportedly wants $65M for that one — preferably in Bitcoin
Photo credit: Elad Elkoubi / Swift Pics Photography
Several news outlets, including the New York Post, have reported that Cardone has been quietly looking to offload his Carbon Beach house for an even more ambitious asking: $65 million, also accepting payments in Bitcoin.
That mansion isn’t being floated on the open market though, and is likely being offered as a pocket listing that only vetted buyers can access.
Who is Grant Cardone?
Photo credit: Elad Elkoubi / Swift Pics Photography
One of the biggest influencers, authors, and speakers in the real estate space, Grant Cardone has made a name for himself as a serial entrepreneur and financial guru. He’s the founder of Cardone Enterprises, Cardone Capital, Cardone Training Technologies, The 10X Movement, and The 10X Growth Conference — one of the world’s largest business & entrepreneur conferences.
He also famously authored several best-selling books, including The 10X Rule, Be Obsessed Or Be Average, Sell Or Be Sold, and Millionaire Booklet, as well as several bestselling business programs.
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“While population growth is relatively stagnant in the area, people are starting to leave their current households to form new ones, placing pressure on a housing market that simply does not have enough units to support this new demand,” Johnson said. The research, which examines the 100 most populated metro areas in the US, uses … [Read more…]
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Home design trends in any year contradict themselves. For 2023, designers said it was the year of organic materials and muted greens, while other designers were painting walls black for dark academia bedrooms—complete with crows. Trends come and go, but we can use them to inspire ourselves and create our idea of a happy place. No matter how different we all may be, there’s a design trend for each of us—even if it includes crows.
When home decorating, the goal is to find colors and elements that you like and that support the look you want to achieve, and then give them a try. The trick comes in finding a way to try 2024 trends without making major changes that you’re not ready to live with for the long haul. From the many, many trend lists we’ve looked at this year, we’ve chosen styles and elements that run the gamut from bold to understated, and modern to traditional. Whether you’re a moody crow lover or a modern farmhouse diehard, you’ll find something in this year’s trends to up-level your look.
1. Quiet Luxury
Designer: ANA Interiors. Photographer: Ana Cummings
If you’ve scrolled your feeds looking for home design ideas recently, you’ve seen #quietluxury trending. This understated approach to posh emphasizes quality and craftsmanship over flash and bling. Paring down decor, keeping clutter at a minimum, confining colors to muted neutrals, and adding quiet luxury ingredients are meant to inspire calm. The centerpiece of a quiet luxury living space is the cloud couch, a white sofa with a puffy seat and back pillows stuffed with goose down.
“Quiet luxury is here to stay,” says Morgan Olsen, Thumbtack’s home and design expert. “Homeowners are done with loud luxury trendy pieces and are being very intentional with their spending. 2024 will be about craftsmanship over big brands and labels, as homeowners look for reclaimed materials and quality furniture.”
That means buying pieces that last decades rather than the 3 or 4 years of mass-produced furniture. “But who said you have to get the cloud couch?” asks Olsen. Instead, find secondhand furniture by quality makers and reupholster it. Or pare down your wall art and knickknacks, then add goose-down throw pillows and a luxurious throw like this State Cashmere Striped Throw Blanket to your existing neutral sofa.
2. Healthy Habits
Designer: Kelley Design Group.
Builder: CKN Capital Group.
Photographer: Cate Black Photography
Bringing wellness closer to home is no longer a luxury but an essential for many people, especially for exercise and spa experiences. “Homeowners will continue to turn their homes into wellness retreats, prioritizing features that have health benefits,” says Olsen.
According to the 2024 Houzz U.S. Emerging Summer Trends Report, with cold plunge pool, indoor sauna, and backyard sauna all rising in search frequency in the first quarter of the year, compared with Q1 2023. At-home exercise has evolved from a stationary bicycle, with searches for bocce court, bowling alley, and game room all higher than last year. Mentions of pickleball courts on Zillow are up 64 percent over last year. People are looking for homes with private courts and nearby public courts. Pickleball in the driveway, anyone?
In addition to saunas, Amanda Pendleton, Zillow home trends expert, lists spa bathrooms and red-light therapy rooms among the features home buyers are using to complement wellness routines. While replacing a bathtub with a walk-in spa shower is a trend for remodeling projects, you can spend far less and create a spa bath at home with simple switches. Create a relaxing atmosphere by focusing on all five senses. Replace the counter clutter with a flower arrangement or basket of fluffy towels. Choose soft textures in muted colors and a comfy bath pillow, like this Luxurious Cork Bath Pillow by LIVTUUshop at Etsy. Add the soothing scent of essential oils and a source of meditative sound. Don’t forget a glass of cucumber water.
3. Hidden Spaces
Courtesy of Ruhl | Jahnes Architects.
Photographer: Nat Rea
Nothing beats a cozy reading nook, according to the 2024 Houzz U.S. Emerging Summer Trends Report. Searches for library walls, reading corners, and book nooks have all gone up this year. Secret spaces have long been a favorite for people who enjoy a bit of whimsy at home, along with out-of-sight storage. The Houzz Emerging Winter Trends Report, released at the end of 2023, shows that cloaked additions are gaining popularity. Searches for trapdoors are up by 350 percent, and searches for kitchens with hidden pantries rose by 250 percent. Say goodbye to the wet bar in the living room and hello to a secret speakeasy bar and lounge, or a wine bar and cellar under the stairs, both searched more often in 2023.
If you’re not ready to tear down any walls or excavate the closet under the stairs, create nooks and hidden spaces with a few easy changes. Give more privacy to a window seat by hanging curtains outside the front of the seat rather than against the window. Hide the entrance to a closet with this Door Mural of Antique Bookshelves by Recallart at Etsy. In the kitchen, create a secret pantry by adding vertical wood panels on and around the pantry door. For renters, this Abyssaly Wood Slat Peel-and-Stick Wallpaper at Amazon is removable; homeowners who want a more permanent solution without the hassle of cutting wood can try the Set of 4 PVC Wall Paneling pieces at Wayfair that mount with adhesive.
4. Blues and Greens
Courtesy of Brittany Lyons Interiors.
Photographer: Mike Healey Photography
Green is the most popular color this year for home design. No, wait, it’s blue. Blue is the most popular color this year for interiors. Designers differ on this one, but most agree that shades of blue and green are taking center stage in the home. Mitchell Parker, senior editor at Houzz, says blue provides a calming influence.
Sage and gray-green also are on the rise, according to the Houzz winter report. A barely-there sage functions as a neutral on kitchen cabinets, and a darker gray-green provides contrast to warm neutrals. In true blue fashion, however, several paint companies have chosen a shade of blue as their 2024 color of the year.
Add contrast to neutral furniture and flooring with blue or green items you already own, gathering throw pillows and blankets, table runners, vases, decorative containers, and framed prints from other rooms. Add a blue or green ribbon trim to curtains or the base of a fabric sofa without a sewing machine by using HeatnBond Hem Iron-On Adhesive at Amazon; seal the trim with a flat iron (used for hair styling) in places you can’t fit onto an ironing board. For a classic look, we like this M&J Trimming Greek Key Fabric Ribbon in denim blue and sage options.
5. The Return of Creams
Courtesy of kate roos design.
Photography: Andrea Rugg Photography Andrea Rugg Photography
While many new homes are still coated in gray from floor to ceiling, the trend is moving away from this cool palette and back to warmer colors like cream, tan, and brown. Stark white walls are too harsh for this year’s earthy color schemes. Parker says beiges, creamy off-whites, and rich browns are the focus for a warm, welcoming space.
If you like the look of an all-neutral, off-white room, add textures and patterns, as well as a variety of tones, to create a more layered look, says Parker. The Graham Leather/Suede Lumbar Rectangular Pillow Cover and Insert at Wayfair has a removable cover to swap for a machine-washable option when needed. Swapping accessories has a big impact, especially if you clear the clutter first. We like this Handmade Wood Table Vase, an organic take on the popular ceramic styles, and the Magalia Wood Tray that brings both functionality and latticework texture.
6. Whole Wall Art
Photo: iStock
If you want an abundance of colorful expression in your home design, those cream walls act as a blank canvas perfect for art and pattern. Bold floral wallpaper or a hand-painted mural are both big this year. Zillow’s 2024 home trend report shows that many homeowners are into eclectic, maximalist interiors. Murals in homes for sale are showing up 18 percent more often than last year. The good news is you can learn how to paint a mural even if you’re not an artist, with a bit of painter’s tape and imagination.
Wallpaper also comes in mural patterns, including the peel-and-stick variety beloved by renters and frequent redecorators everywhere. Modern botanicals, landscape vistas, and stripes are trending patterns this year. Guest baths are often the place to start, since the design will make a big impact in a small space without costing a lot of time or money. Murals like this Chinoiserie Watercolor Peacock Wallpaper by FabbWallDecor, can be subtle while bringing interest to a neutral palette. Or make a big impact with this Removable Abstract Wall Art Wallpaper by ONDECORstore, both at Etsy.
7. Handmade Touches
Photo: Zillow
This year, embrace handmade pieces that show the inevitable imperfections of craft. Artisans are impacting today’s trends with handmade tiles, hand-thrown serving dishes, and hand-painted murals. Pendleton points to Murano glass chandeliers as an example of the handmade and bespoke features popping up in today’s homes. The colorful light fixtures are featured 58 percent more often in searches on Zillow, despite the sometimes hefty price tag. If this Ares Murano Glass Chandelier at $1,675 is out of budget, support an Etsy artist with this Handmade Dusty Pink Peony Pendant by FloralsBySERRO.
Handmade items make your home unique and add a personalized touch to any room. The 2023 Houzz U.S. Bathroom Trends report showed that 62 percent of renovating homeowners are choosing a custom or semi-custom vanity. Repurpose a piece of vintage furniture and make your own vanity, or add painted details to an existing model.
8. Brutalism
Photo: Zillow
Even if industrial design isn’t your style, the return of brutalism can be a welcome change in today’s homes. Brutalist design uses materials like raw concrete, brick, steel, and bronze. You’ll see organic shapes with raw edges and unpolished surfaces, as well as a streamlined design for functionality. Pendleton says Zillow has seen a 452 percent increase in the number of homes for sale that mention brutalist design.
“The return of brutalism is the most surprising rising trend of 2024, particularly after the hygge movement where homeowners embraced cozy comfort over hard surfaces,” she says. “The hallmarks of brutalist design—raw, organic, and unfinished materials—are already showing up in furnishings, lighting, and accessories. When juxtaposed with overstuffed sofas, curved armchairs, and plush high-pile rugs, brutalist architectural elements can add visual interest and much-needed contrast to a space,” says Pendleton.
Some trends stick around for years. Most people are hanging onto their outdoor kitchens and fire pits. Others come and go, like inflatable furniture. No one is missing that squeaky stuff. As interior design trends have bent back toward the traditional and eclectic, designers are emphasizing a focus on timeless style that doesn’t look dated from year to year.
Parker says modern homes are showing brick, clay tiles, rustic wood, and other materials that signify a legacy rather than a fad. To get a timeless look that works for your space, create meaning through your belongings. A quality collection of original artwork from your travels will never go out of style, nor will vintage area rugs. Antiques are a good bet too because they add contrast to modern accessories.
White bedding, pleated curtains, and anything with stripes serve as foundational textiles you can build upon as trends change. Truly timeless style is about quality and meaning, so make space in your home for what matters most.
Data on the intersection between housing issues and politics is clear: in 2024, housing is an issue that resonates strongly with younger voters, but high mortgage rates and high home prices may be issues for years to come. This is according to a report published this week by Politico.
Recent data about attributes of the housing market — including existing home and pending sales, mortgage rates and home prices — have not painted a rosy picture of the housing market for new entrants. Subject matter experts are taking notice.
“Home sales activity is at a 30-year low — it’s essentially stuck at that level, so all of the economic activity associated with home sales is at a depressed level,” said Lawrence Yun, chief economist for the National Association of Realtors (NAR) to the outlet.
Pricing appears to be most on the mind of younger voters in particular, according to a survey conducted by Redfin chief economist Daryl Fairweather. But federal government initiatives have not made much headway on this issue in particular, since policies at the local, county and state levels are often bigger determinants of pricing changes than federal policies.
“It’s unprecedented, it’s never been such an issue,” Fairweather told Politico. “I think this is the first time housing could actually matter in the swing states — before it was mostly in the coastal areas.”
Fairweather added that the importance of the housing issue was seen in the recent U.S. presidential debate, where President Joe Biden immediately mentioned housing issues as a priority if elected to a second term.
Inventory is climbing, but not at a rate fast enough to undo supply issues that have been “years in the making,” Fairweather added. Some of this is due to the impacts of the mortgage rate lock-in effect, where borrowers who otherwise would be willing to move and sell are motivated to hold onto a low mortgage rate they obtained in 2020-2021.
“It’s really hard for the housing market to get out of this funk because of the mortgage rate lock-in effect,” she told Politico. “I don’t think that the problems with the housing market are going to clear up in a matter of years. It could take a decade.”
The Biden administration has announced a slew of housing measures over the past year designed to broaden access to the market, most recently including a new grant program, a $469 million investment in renovations and the expansion of housing counseling availability and funding.
Prices are moderating somewhat, but remain historically high, said Orphe Divounguy, senior economist at Zillow to Politico.
“Today I think we’re in a much better place than we were in 2022, when prices were growing unsustainably,” said Divounguy. “That overheated pace could result in a crash, which is why the Fed had to act when it did.”
Meaningful rate declines, meanwhile, will take longer to emerge.