Home Selling

After hitting a 20-year high last week of 7.23%, the average rate on a 30-year, fixed-rate mortgage moved lower again. A year ago, the FRM averaged 5.66%. LOS ANGELES – The average long-term U.S. mortgage rate slipped after climbing for five consecutive weeks to a more than 20-year high, a modest relief for would-be homebuyers … Read more

Buyers get used to mortgage rates and incorporate them into decisions, but increases/decreases make them wonder if they should move quickly or hope they come back down. NEW YORK – Despite the highest mortgage rates in a generation, new houses continue to sell. The U.S. Commerce Department on Wednesday reported that a seasonally adjusted 714,000 … Read more

A 30-year, fixed-rate loan averaged 7.09% this week, its highest level since it was 7.13% in April 2002. It also exceeds a high of 7.08% hit last fall. WASHINGTON – The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years, grim news for would-be homebuyers already facing high home … Read more

Start with local research. What words to buyers use most often when searching for a home? What words are within listings that see the most clicks? NEW YORK – Both words and images make an impact when marketing homes for sale, says Colibri Real Estate’s Tina Lapp, who has almost 30 years of professional education … Read more

Mortgages revolve around a 20% down payment, and buyers who put less down use mortgage insurance to do so – yet many don’t understand what that means. KEY BISCAYNE, Fla. – Mortgage Insurance is one of the most misunderstood topics in real estate. When buyers use financing and their down payment is less than 20% … Read more

A do-it-yourself home-improvement project reaps rewards at the time of sale, providing it’s done right. Many DIY projects require pros, but some can be handled in-house. NEW YORK – Improving the value of a residential property is an ongoing project, and for many homeowners, this means sharpening up their DIY (do it yourself) skills, especially … Read more

A Realtor completed a professional apartment-building property appraisal on behalf of the seller, and the valuation was used to negotiate a final price with the buyer. But the seller later filed an ethics complaint because the Realtor managed the buyer’s properties. Is it an ethics violation? ORLANDO, Fla. – Dear Shannon: I’m a long-time Realtor … Read more