NAR members and REALTOR® associations must implement the practice changes stemming from NAR’s proposed settlement agreement fully and in good faith. Consumer choice is paramount, particularly when it comes to determining the nature and cost of professional representation in a real estate transaction. As such, it is deeply concerning to see others take positions on …
Tag: tips
Jul 18
We’ve Got This
Despite big changes ahead, NAR’s president Kevin Sears is confident that members will adapt. A new day is approaching: Changes are coming to the way many of us do business. As of Aug. 17, we will be required to have written agreements with buyers before we tour a property with them, and offers of cooperative …
Jul 18
Dispelling 7 Myths About NAR’s Proposed Settlement
You can help correct the record about the association’s proposed settlement to resolve nationwide claims brought by home sellers. National Association of REALTORS® leaders have been talking to reporters and members full-time over the past month to correct the record about the association’s decision to resolve nationwide claims brought by home sellers. You can help …
Jul 17
Fed Hints Mortgage Rates May Soon Rise
Interest rates are expected to soon rise, even as the Federal Reserve announced on Wednesday that it would keep its benchmark rate near zero. The Fed, however, warned that it was preparing to taper its emergency stimulus efforts from the pandemic, including winding down its bond purchases. That is expected to make mortgage rates rise, …
Jul 17
Mortgage Rates Average the good old days 2021
Mortgage rates barely budged this week, but that likely soon will change after the Federal Reserve’s bond tapering announcement this week. The 30-year fixed-rate mortgage averaged 2.88% for the week ending Sept. 23, Freddie Mac reports. Rates are largely predicted to rise on the heels of the Fed’s decision to reduce its bond purchases before …
Jul 16
COVID-19 Forbearance for Multifamily a look back in time …
The Federal Housing Finance Agency announced that mortgage financing giants Fannie Mae and Freddie Mac will continue to offer forbearance indefinitely to qualifying multifamily property owners as part of their ongoing COVID-19 protection. This marks the fourth extension the FHFA has made to the programs. The latest were set to expire Sept. 30. “Given the …
Jul 15
Squeeze on Renters
U.S. needs to put attention on rental, first-time buyer markets. Just as the for-sale market is starting to moderate, the rental market is heating up, which will put added pressure on people trying to save for their first home. Rental listings are attracting multiple offers, and apartment vacancy rates are approaching record lows. Consequently, rents …
Jul 15
Home Sales Jump as Buyers Aim to Beat Rising Rates
Existing-home sales rebounded in September as buyers may have felt a sense of pressure as mortgage rates started to inch up. Existing-home sales rose by 7% in September compared to August. All major regions of the country posted increases last month, the National Association of REALTORS® reported Thursday. “Some improvement in supply during prior months …
Jul 12
Freddie Initiative Adds Rent Payments to Credit Reports
Freddie Mac announced a new program to help renters build up their credit profiles and help make them more creditworthy. The initiative provides a means for owners or managers of multifamily properties to report on-time rental payments to the three major credit bureaus. The move aims to help a portion of the more than 45 …
Jul 12
How Will Higher Mortgage Rates Impact Home Buying?
Mortgage rates are expected to continue to rise after the Federal Reserve’s announcement Wednesday that it would taper its purchases of bonds and mortgage-backed securities. Will those anticipated higher rates price out more home buyers? While some would-be buyers may back off, analysts say, that would allow more persistent buyers to push through. Higher mortgage …
Jul 11
7308 Landis South SEA, Sea Isle City, NJ. 08243 – Jersey Shore Vacation Home.
7308 Landis South SEA, Sea Isle City, NJ. 08243 $1,699,000 Est. Mortgage $10,429/mo*5 Beds5 Baths Listing courtesy of Moira K. Smith – COMPASS RE – Sic Description on this home for sale at 7308 Landis South SEA, Sea Isle City, NJ. 08243 Introducing an unparalleled new construction in the coveted Townsends Inlet, this townhouse is …
Jul 11
Mortgage Rates Post Temporary Drop
Offering slight relief to home buyers this week, the 30-year fixed-rate mortgage fell to a 3.09% average. But rates may rise again soon. Housing analysts largely expect mortgage rates to increase in the following months due to the Federal Reserve’s announcement this week that it will slowly reduce its monthly bond purchases. “While mortgage rates fell …
