Grants Aim to Inspire More Women Real Estate Leaders The Women’s Council of REALTORS® wants to inspire more women to take on leadership roles in the real estate industry through its Supporting Women of Real Estate grants, which provide local and state REALTOR® associations funding for new and innovative programs aimed at advancing women. While …
Category: Real Estate Tips
Aug 12
Mortgage Rates Dip Below 5%; Buyers Get ‘A Second-Chance Opportunity’
Mortgage Rates Dip Below 5%; Buyers Get ‘A Second-Chance Opportunity’ After weeks of escalating borrowing costs, home buyers are getting a second chance to lock in lower rates. The 30-year fixed-rate mortgage fell to an average just below 5% for the week ending Aug. 4, Freddie Mac reports. With rates dipping in recent days, mortgage …
Aug 10
Dip in Mortgage Rates Little Consolation to Squeezed Buyers
Dip in Mortgage Rates Little Consolation to Squeezed Buyers With volatile mortgage rates driving home buyers from the market, economists are skeptical that a dip in borrowing costs this week will have a meaningful impact. The 30-year fixed-rate mortgage fell to an average of 5.3%—still nearly double what it was a year ago—for the week …
Aug 09
Market to Ease Despite High Home Prices
Market to Ease Despite High Home Prices Even though national GDP contracted for the second quarter in a row and home sales have fallen for five straight months, property prices are likely to continue growing because of low inventory, Lawrence Yun, chief economist for the National Association of REALTORS®, said Wednesday during NAR’s quarterly Real …
Aug 08
2nd Historic Fed Rate Hike Unlikely to ‘Further Damage’ Mortgage Borrowers
2nd Historic Fed Rate Hike Unlikely to ‘Further Damage’ Mortgage Borrowers With skyrocketing inflation and mounting recession fears, the Federal Reserve made another aggressive move Wednesday, raising its benchmark rate by three-quarters of a percentage point for the second time this year to try and tame the economy. However, higher mortgage rates may not necessarily …
Aug 05
Remote Online Notarization Is One Step Closer
Remote Online Notarization Is One Step Closer The U.S. House of Representatives passed a bill Wednesday evening to expand the availability of remote online notarization (RON) nationwide, a key advocacy priority for the National Association of REALTORS®. The bipartisan SECURE Notarization Act now goes to the Senate for consideration. RON allows a notary and signer …
Aug 04
Pending Home Sales Tumble as More Buyers Get Priced Out
Pending Home Sales Tumble as More Buyers Get Priced Out Pending home sales fell in June as surging mortgage rates and record-high home prices are making home buyers more cautious in moving forward. The median existing-home price hit an all-time high in June ($416,000). Homes were 80% more expensive in June than they were in …
Aug 03
Could Solving the Housing Shortage Help Close the Racial Gap, Too?
Could Solving the Housing Shortage Help Close the Racial Gap, Too? The nation’s housing shortage has also fueled a housing inequity problem, Bryan Greene, vice president of policy advocacy for the National Association of REALTORS®, writes in an essay included in a new report, “Housing Underproduction in the U.S.” To close the widening racial gap …
Aug 02
Mortgage Rates Rise Ahead of Fed’s Big Announcement
Mortgage Rates Rise Ahead of Fed’s Big Announcement Mortgage rates rose slightly this week ahead of the Federal Reserve’s highly anticipated meeting next Tuesday, when it is expected to increase its benchmark rate by up to a full percentage point. What impact could that have on mortgage rates ahead? “Even though the upcoming rate hike …
Aug 02
Existing-Home Prices Hit New Record as Sales Slow
Existing-Home Prices Hit New Record as Sales Slow Prices for existing homes climbed to a record high in June, continuing at a breakneck pace with double-digit-percentage annual increases. The median price for an existing home rose to $416,000 last month, up 13.4% compared to a year earlier, the National Association of REALTORS® reported Wednesday. Home …
Aug 01
Single-Family Construction Is Going Soft
Single-Family Construction Is Going Soft Builders are growing concerned that demand for new homes is leveling off, and they’re slowing production out of fear that too many buyers have been priced out of the market. Single-family construction in June dropped to its lowest level since April 2020, when the COVID-19 pandemic was just beginning, the …
Jul 22
Affordability, Inventory Issues Block Foreign Investors, Too
Affordability, Inventory Issues Block Foreign Investors, Too Worsening housing affordability and stubborn inventory shortages are not only pushing more Americans out of the real estate market but also blocking many foreign investors from purchasing homes in the U.S., according to the National Association of REALTORS®’ newly released 2022 Profile of International Transactions in U.S. Residential …
