Mortgage-rate locks for second homes have dropped 13% since last summer – more than twice as much as rate locks for primary homes, Redfin reported. SEATTLE – Mortgage-rate locks for second homes fell 13.1% year over year in August to the lowest level since March 2016 on a seasonally adjusted basis, according to a new … Read more
Consumer sentiment edged higher for the second month and is at its highest level since May, according to the University of Michigan. WASHINGTON – Americans’ outlook on the economy improved for the second straight month in September, bolstered by lower prices for long-lasting goods such as cars and furniture. The University of Michigan’s consumer sentiment … Read more
Florida Realtors will be hosting webinars this week regarding practice changes, and NAR released a new Consumer Guide about compensation offers. ORLANDO, Fla. – This week, Florida Realtors will host two webinars to help Realtors® navigate the recent industry changes and gain key insights to strengthen buyer trust. In addition, the National Association of Realtors® … Read more
The average rate on 30-year mortgages fell to 6.20% from 6.35% last week. A year ago, it was 7.18%. Rates on 15-year mortgages fell to 5.27% from 5.47%. WASHINGTON – The average rate on a 30-year mortgage in the U.S. fell this week to its lowest level in 19 months, reflecting a pullback in Treasury … Read more
Only 19% of baby boomers think they could have afforded a home in a market like today’s, yet 71% believe younger generations could if they didn’t spend frivolously. ST. LOUIS – Just 15% of current baby boomer homeowners expect to sell their homes in the next five years, while more than half (54%) never plan … Read more
Consumers expect rates and home prices to decline in the coming year but they remain cautious about the market and affordability. WASHINGTON – Consumers reported significantly greater optimism about the future direction of mortgage rates despite showing little change in overall homebuying sentiment, according to Fannie Mae Home’s Purchase Sentiment Index, which increased 0.6 points … Read more
The new residential contract riders address buyer credits (concessions) and compensation. Florida Realtors will host a Sept. 16 webinar to discuss the riders. ORLANDO, Fla. – Florida Realtors® released two new residential contract riders on Monday to help Realtors and customers more effectively navigate buyer’s broker compensation and provide greater transparency in the homebuying process. … Read more
Preparation is the key to navigating hurricane damage. Before any storm, check insurance policies for coverage and take a home inventory. FORT LAUDERDALE, Fla. – Question: With hurricane season heating up, I am concerned I will not know what to do if a storm damages our house. How can we be prepared and ensure that … Read more
When change happens, stay flexible and focus on your strengths. Control your attitude and actions to thrive in real estate – pivot, provide value and adapt. LOS ANGELES – Imagine you woke up on a remote tropical desert island. No one is around. No restaurants. No Starbucks. No Wi-Fi. Everything completely changed. In an instant. … Read more
Thirty-year mortgage rates remained at 6.35%, while 15-year rates fell slightly to 5.47%. A Fed interest rate cut later this month likely will reduce mortgage rates. WASHINGTON – The average rate on a 30-year mortgage in the U.S. was flat this week ahead of an expected interest rate cut from the Federal Reserve later this … Read more
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