U.S. home prices rose 4.2% year-over-year, but growth is slowing due to high mortgage rates, according to the FHFA House Price Index. WASHINGTON — U.S. house prices rose 0.3% in November, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). House prices rose 4.2% from November 2023 to November … Read more
Mortgage rates will close 2025 and 2026 at 6.5% and 6.3%, respectively, up from the previous forecast of 6.2% and 6.0%. WASHINGTON – The recent jump in the 10-year Treasury yield and the resulting rise in mortgage rates are expected to continue to weigh on existing home sales in the near future, likely keeping them … Read more
Home sales in the final months of the year showed solid recovery despite elevated mortgage rates, NAR’s chief economist said. WASHINGTON – Existing-home sales climbed in December, according to the National Association of Realtors®. Sales advanced in three major U.S. regions and slipped in the Midwest. Year-over-year, sales accelerated in all four regions. On an … Read more
When renters find unwanted items, they should ask the landlord to remove them, document communications and keep photos in case of disputes. FORT LAUDERDALE, Fla. – Question: My son is leasing a small condo. The lease includes “a sofa, TV, TV stand, table, 2 chairs, bed and mattress”. He did not want the mattress, and … Read more
Mortgage rates are near 7%, not the expected sub-6%. Rates could fall if the gap between mortgage bonds and Treasury yields narrows. Fed rate cuts may boost demand. NEW YORK – The benchmark national average 30-year, fixed-rate mortgage is close to 7%, nowhere near the expected sub-6% predicted in early fall 2024. The rise is … Read more
The rate on 30-year mortgages fell to 6.96% from 7.04% last week, Freddie Mac said. Borrowing costs on 15-year mortgages dropped to 6.16% from 6.27%. NEW YORK – The average rate on a 30-year mortgage in the U.S. eased this week to just below 7%, its first decline after climbing five weeks in a row. … Read more
NEW YORK — With stylish features and floor plans, many of today’s manufactured homes break the old “mobile home” stereotype — without breaking the bank. On average, new manufactured homes cost about a third of the price of site-built homes, reports the Manufactured Housing Institute, a trade group. Factory construction lowers material and labor costs, … Read more
More supply is helping ease the high demand seen during the height of the pandemic years, Realtor.com said. SANTA CLARA, Calif.— For the 17th consecutive month, rents declined in December, falling by -1.1% year over year to a median of $1,695, according to the Realtor.com December Rental Report released today. This is the first time … Read more
Real estate pros who overcome common fears like public speaking, networking and client ghosting can increase their business and see greater success. CHICAGO — Most real estate professionals all have that one thing they absolutely don’t want to do: public speaking, door-knocking, networking. The reality is that not partaking in certain aspects of the business … Read more
Sentiments towards homeownership remain positive as Americans identify it as a life goal. Many think it’s important to build long-term wealth. SANTA CLARA, Calif. – The American Dream is alive and thriving, according to a new survey from Realtor.com, which found nearly two out of three Americans (64%) identify homeownership as one of their life … Read more
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