As inflation decelerates, the potential for lower mortgage rates is becoming a greater possibility. Mortgage rates decreased for the second consecutive week but still remain above 6.5%, a far cry from a year ago, muting any celebration from borrowers. Freddie Mac reports the 30-year fixed-rate mortgage averaged 6.69% this week. The weekly drop comes on …
Category: Real Estate Tips
Jun 28
Explain How REALTORS®, Local Broker Marketplaces Work
While NAR fights legal challenges to procompetitive, proconsumer local broker marketplaces, you can educate your community. In the litigation landscape that the National Association of REALTORS® is facing today, much of what NAR is fighting is misinformation, mischaracterization and lack of understanding or education. There are class-action attorneys and other challengers who have a blatant …
Jun 27
Slowdown in Home Prices Ahead Despite Growth
The third quarter may have marked the end of price surges as higher mortgage rates put a damper on projections for property appreciation. Read more from NAR’s latest report. Home prices continued to climb in the third quarter of this year, but the upward trend may finally be coming to an end, according to the …
Jun 26
Stabilizing Economy Holds Key to Reviving Home Sales
October’s lower inflation rate is a welcome sign for a housing market that’s seen steady declines in 2022. A recent report showing that the rate of inflation declined in October is good news for the real estate industry, and possibly a bellwether of declining mortgage rates in coming months, Lawrence Yun, chief economist for the …
Jun 23
Hope for Turnaround After Contract Signings Fall Again
Pending home sales continued to fall in October as higher mortgage rates shook buyer confidence. Read more from NAR’s latest home sales report. Pending home sales fell for the fifth consecutive month in October as rising mortgage rates brought many housing markets to a halt. But now that rates show signs of stabilizing, economists say …
Jun 22
21 Real Estate Wins in Government Spending Package
The omnibus bill cleared Congress on Friday and now goes to President Joe Biden’s desk for his signature. Congress gave final approval Friday to a bipartisan bill to fund the government through Sept. 30, 2023, clearing the last major piece of legislation for the year. The bill now goes to President Joe Biden for his …
Jun 21
Cooling Inflation Boosts Home Affordability
As the economy improves, mortgage rates could dip as low as the 4% range, bringing buyers back to the market. The inflation rate has been calming in recent months, contributing to falling mortgage rates through the holidays. Consumer prices are still running well above the typical 2% inflation rate, but November’s level of 7.1% was …
Jun 20
End Rate Hikes
The Fed today would do well to consider the wisdom of Wayne Gretzky. Mortgage rates fell on the day Silicon Valley Bank went bankrupt. In times of panic, financial market investors seek out the safest asset. Nothing is more secure than U.S. government bonds; they will be paid. There are, however, interest rate risks that …
Jun 19
Help Amplify the Message That Homeownership Is a Win
Here’s how you can help spread the word about the benefits of owning a home and support advocacy efforts to expand housing access. Homeownership is a financial windfall for most households, with homeowner wealth soaring 40 times higher than renters. Over the last decade, most owners have earned more than $100,000 in equity, according to …
Jun 16
Help Amplify the Message That Home ownership Is a Win
Here’s how you can help spread the word about the benefits of owning a home and support advocacy efforts to expand housing access. Homeownership is a financial windfall for most households, with homeowner wealth soaring 40 times higher than renters. Over the last decade, most owners have earned more than $100,000 in equity, according to …
Jun 15
What Homeowners Should Know About Solar Panels
Increasing energy costs are spurring more homeowners to go solar, but an abundance of choices in the field can make the decision daunting. Help homeowners weigh the options with these five considerations. Key Takeaways: Installing solar panels or modules to convert sunlight into electricity and conserve energy is not a new concept. Back in 1954, …
Jun 14
A Home Gym? No Sweat
Many homeowners are still reluctant to work out in gyms as COVID-19 remains a threat. Here’s how they can outfit a space without spending a bundle. Key Takeaways: In the 1980s and ‘90s, when houses were getting bigger and fancier with all sorts of specialty spaces—theaters with stadium seating, giant aquariums, rathskellers, and sports courts—some …
