IT'S ALWAYS SUNNY IN CLT

More than sunshine and sweet tea. 

Summer in Charlotte, NC is a season full of energy and local flavor. From free outdoor concerts at The AMP Ballantyne, splash-worthy fun at the Whitewater Center, evenings spent exploring rooftop patios, sunset cruises on Lake Norman or Lake Wylie, there’s something for everyone and here are the three things you need to know this week. 

Budget King: In Q1 2025, balances on home equity lines of credit (HELOC) rose by $6 billion, the twelfth consecutive quarterly increase.

According to a recent report by the Federal Reserve Bank of New York, with that $6 billion increase to home equity lines of credit (HELOC) balances also rose to a total of $402 billion.  This represents an $85 billion increase since the low in Q1 2022.  This coincides with 44% of new homeowners adding extra debt to keep up their lifestyle. 

Globe Trotter: The percentage of home shoppers who came from outside the U.S. grew to 1.9% in the first quarter.

This, based on a recent study by realtor. com where they studied the number and frequency of international views on U.S. listings.  The top 5 metro areas with the most activity include Miami, New York, Los Angeles, Orlando, and Dallas.  Canadians made up the largest percentage of international residential real estate shoppers, at 34.7%.  Followed by the United Kingdom (5.7%), Mexico (5.4%), and Germany (3.8%) of international online home-shoppers. 

Fed-Up: During its mid-June meeting the Fed opted to leave short-term interest rates unchanged for the time being, keeping fund rates in the 4.25-4.5% range.  

When asked about sluggish home sales, Powell said “Basically, the situation is we have a longer-run shortage of housing, and we also have high rates right now," Powell said. "I think the best thing we can do for the housing market is to restore price stability in a sustainable way and create a strong labor market." From this meeting there was an updated forecast that indicates it’s still possible there will be quarter-point rate cuts by the end of the year, and the markets appear to be pricing in those cuts to happen in September and December.

Stay cool, stay hydrated, have a great weekend and remember; We’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble.