Housing Wire

SEPTEMBER 15, 2024

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s review the data together. Purchase application data First, purchase apps is the fastest way to look for positive or negative data at higher or lower mortgage rates.

Mortgage 505

Mortgage Inventory New Listings Retail 505

Appraisal Buzz

SEPTEMBER 18, 2024

For the first time in four years, the Federal Reserve has slashed its benchmark interest rate, a move that will force lower borrowing costs for consumers and businesses. The rate cut of a full half-point to a new range of 4.75% to 5.0% was announced by Federal Reserve Chair Jerome H. Powell at the conclusion of today’s Federal Open Market Committee (FOMC) meeting.

Investors 435

Investors Mortgage Buyers Real Estate 435

Sacramento Appraisal Blog

SEPTEMBER 18, 2024

We’ve been waiting for the Fed to cut rates, and it FINALLY happened today. That’s positive news, but let’s unpack what that means. Also, let’s talk about the problem of days on market. Any thoughts? UPCOMING SPEAKING GIGS: 10/18/24 Prime Real Estate (private) 10/23/24 SAFE Credit Union (details TBA) 10/29/24 Orangevale MLS Meeting 11/19/24 Downtown […] The post Rates cuts & you might not be the problem first appeared on Sacramento Appraisal Blog.

Real Estate 315

Real Estate Appraisal Marketing Housing Market 315

Real Estate News

SEPTEMBER 20, 2024

A new guide explains the types of compensation allowed (not an “open-ended amount or a range”), how buyers can ask sellers to pay and when it’s OK to walk away.

Buyers 293

Buyers Agents Sellers 293

Housing Wire

SEPTEMBER 18, 2024

The Federal Reserve lowered its benchmark interest rate on Wednesday by 50 basis points (bps) to a range of 4.75% to 5%, turning an important corner in the central bank’s fight against inflation. The cut is the first since March 2020 after the Fed raised interest rates to a 23-year high point to cool the economy and quell inflation. With both inflation and the labor market cooling, economists and housing professionals alike had expected the Fed to cut borrowing costs in September, with the

Inventory 484

Inventory Mortgage Tools Marketing 484

Appraisal Buzz

SEPTEMBER 20, 2024

The U.S. housing market is experiencing significant variability, with some cities seeing homes fly off the market while others are witnessing prolonged delays. As of July 2024, the average home spends 35 days on the market, but this figure varies widely depending on the location. Using Redfin data on over 47,000 homes sold in the 100 largest U.S. cities, Joybird examined where homes are selling the fastest—and the slowest.

Housing Market 415

Housing Market Marketing Inventory Buyers 415

Real Estate News

SEPTEMBER 18, 2024

The board took an aggressive approach with its 50-basis point cut, and signaled that two more cuts are coming this year.

311

311

Housing Wire

SEPTEMBER 19, 2024

Real estate agents have white-knuckled their way through more than two years of suffocatingly high mortgage rates that have stymied sales, choked off inventory and pushed home prices to new all-time highs. So what was the reaction from agents when the Federal Reserve surprised everyone by cutting rates by 50 basis points rather than the 25 that was taken as a given?

Real Estate Agent 460

Real Estate Agent Real Estate Agents Buyers 460

Appraisal Buzz

SEPTEMBER 17, 2024

According to a new Zillow Home Loans analysis , monthly mortgage payments have grown less expensive than rent prices in 22 of the 50 largest U.S. metros. Recent dips in mortgage rates, which have fallen to the lowest level since early 2023, have significantly reduced monthly payments. According to the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac, the 30-year fixed-rate mortgage (FRM) dropped last week to its lowest level since February 2023, coming in at 6.20%.

Buyers 418

Buyers Home Value Insurance Mortgage 418

Inman

SEPTEMBER 20, 2024

In challenging the National Association of Realtors' Clear Cooperation Policy, Robert Reffkin writes, Realtors are upholding their highest moral, ethical and legal duties to serve clients.

Law 183

Law Realtors Legal Clients 183

Real Estate News

SEPTEMBER 16, 2024

Using the “one-third” formula, the plaintiffs’ lawyers are asking for more than $225 million from the two commissions settlements, plus other expenses.

280

280

Housing Wire

SEPTEMBER 15, 2024

In what has become a familiar fall ritual, mortgage lenders are increasing their conforming loan limits months ahead of the FHFA’s official announcement. On Friday, Rocket Pro TPO and Pennymac both announced an increase in their conforming loan limits to $802,650 — before the expected increase by the FHFA in November. Rocket’s increase was effective Friday and Pennymac’s increase will be effective for new broker locks on Monday, Sept. 16.

Mortgage 471

Mortgage 471

Appraisal Buzz

SEPTEMBER 20, 2024

August 2024 marks the 13th month of year-over-year rent decline in a row for 0-2 bedroom properties observed since trend data began in 2020. Asking rents dipped by $5, or -0.3%, year over year. The median asking rent in the 50 largest metros registered at $1,753, down by $2 from last month and $7 lower than its August 2022 peak. Median rent declined in all size categories with larger declines in smaller-sized units: Studio: $1,455, down $20 (-1.4%) year over year; 1-bed: $1,632, down $11 (-0.7%)

Marketing 397

Marketing Development Appraisal 397

Inman

SEPTEMBER 19, 2024

The two real estate platforms have been growing on the same trajectory at Keller Williams for more than a decade, their founders said, and during this challenging period in the industry, it made sense to combine forces.

Real Estate 184

Real Estate Technology Brokerage 184

Real Estate News

SEPTEMBER 19, 2024

Alabama Realtors wants members to have “greater flexibility” with their dues dollars. Without it, NAR faces legal risk and could “lose these members forever.

Legal 263

Legal Realtors 263

Housing Wire

SEPTEMBER 19, 2024

The Alabama Association of Realtors (AAR) is asking the National Association of Realtors (NAR) to provide greater flexibility by allowing members to decide which levels of Realtor associations they would like to join. AAR made the request in a letter sent Monday to NAR CEO Nykia Wright. AAR CEO Jeremy Walker and President Senia Johnson signed the letter.

Realtors 446

Realtors Legal Development Real Estate 446

Appraisal Buzz

SEPTEMBER 20, 2024

U.S. home prices increased a mere 0.1% in August compared with July and were up 4.5% compared with August 2023, according to First American’s home price index report. And while that signals a slowdown from previous months, Mark Fleming, chief economist for First American, notes that it represents a return to historical norms. “Annual house price appreciation nationally slowed for the eighth consecutive month, inching closer to the pre-pandemic historical average of approximately 3.5 percent,” Fl

Buyers 390

Buyers Inventory Sellers Mortgage 390

Inman

SEPTEMBER 19, 2024

"It is time to allow members the ability to choose where they allocate their membership and dues dollars between the local, state and national levels," Alabama Realtors wrote to NAR on Tuesday.

Realtors 180

Realtors Brokerage Agents Marketing 180

Real Estate News

SEPTEMBER 14, 2024

Leaders from eXp and two indie firms announce Realty of America; Compass loses Florida agents to The Agency and Elliman; Christie's, E&V, Corcoran expand.

Brokerage 263

Brokerage Realty Agents 263

Housing Wire

SEPTEMBER 19, 2024

Like the traditional forward space, the reverse mortgage industry has been operating in an elevated interest rate environment for some time. While news of the Federal Reserve lowering its benchmark interest rate by 50 basis points (bps) to a range of 4.75% to 5% will have wider economic ramifications in the government’s ongoing efforts to fight inflation, there are expected benefits to the reverse mortgage business as well as the demographic it serves: seniors on a fixed income.

Mortgage 434

Mortgage Finance Lending Insurance 434

Appraisal Buzz

SEPTEMBER 18, 2024

As we approach another installment of the annual Five Star Conference and Expo , MortgagePoint is proud to continue our tradition of recognizing and honoring the extraordinary accomplishments of our industry’s women executives. Each year, industry colleagues nominate their peers across five categories, and those nominees are then narrowed down further.

Clients 397

Clients Development Business Training 397

Inman

SEPTEMBER 19, 2024

Fed easing was already priced into mortgage rates, but there's room for more relief if investors who fund most home loans get less skittish about prepayment risk and quantitative tightening.

Investors 176

Investors Mortgage Marketing 176

Real Estate News

SEPTEMBER 17, 2024

While a rate cut — which could further drive down mortgage rates — would help homebuyers, there are other headwinds at play in the final months of 2024.

Mortgage 260

Mortgage 260

Housing Wire

SEPTEMBER 19, 2024

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. In this article, we’ll show you exactly how to convert unrepresented sellers into listings and sales with our proven FSBO scripts. These scripts come from our experience — not just coaching agents but as experienced brokers with long real estate careers.

Agents 410

Agents Real Estate Agent Real Estate Sellers 410

Appraisal Buzz

SEPTEMBER 16, 2024

Across America, baby boomers continue to make their mark, and their decisions on homeownership are significantly affecting the housing market. Born between 1946 and 1964, this generation has shaped the nation’s economy and culture. Now, as they age, their decision to hold onto their homes is impacting housing availability. A new survey from Clever Real Estate shows that 61% of boomers currently own homes, and 54% of those homeowners intend to stay in their homes for life.

Housing Market 397

Housing Market Property Taxes Real Estate Marketing 397

Eyes on Housing

SEPTEMBER 16, 2024

Over the first seven months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 599,308. On a year-over-year (YoY) basis, this is an increase of 13.7% over the July 2023 level of 527,158. Year-to-date ending in July, single-family permits were up in all four regions. The range of permit increases spanned.

Construction 180

Construction Marketing 180

Real Estate News

SEPTEMBER 15, 2024

In an effort to curb money laundering and other crimes, a federal agency has adopted rules for brokers and others involved in non-financed transactions.

Finance 260

Finance 260

Housing Wire

SEPTEMBER 18, 2024

For those of us in the mortgage world, the spring and summer market may be showing some signs of slowing down, and what a ride this market has been. If the past few years have taught us anything, even the veterans must find ways to adapt, and anything can happen in our industry. You deserve a pat on the back if you are still standing because it has been a wild ride.

Mortgage 408

Mortgage Loan Officers Business Tools 408

Appraisal Buzz

SEPTEMBER 16, 2024

According to Zillow’s most recent market report , reduced mortgage rates and more inventory are providing house buyers with a window of opportunity at an uncommon time of year. For those looking to purchase a home, affordability has significantly increased, and rather than decreasing as is usually the case at this time of year, competition among them may continue into the fall.

Buyers 396

Buyers New Listings Inventory Home Value 396

Inman

SEPTEMBER 17, 2024

Mortgage rates have dropped to their lowest levels since 2023 in 22 of the 50 largest U.S. metros — even as rent prices continue to rise, according to a new analysis from Zillow released on Monday.

Mortgage 178

Mortgage Marketing 178

Real Estate News

SEPTEMBER 19, 2024

A home’s layout and natural light are important, but a new survey reveals what people refuse to give up — and how many of them can stick to their budgets.

246

246

Housing Wire

SEPTEMBER 17, 2024

Federal Reserve policymakers are expected to lower the benchmark interest rate on Wednesday for the first time in more than four years. But it appears to be anyone’s guess as to how large the cut will be. Interest rate traders were giving shorter odds on Tuesday afternoon to a cut of 50 basis points (bps), which would trim the Fed’s target range to 4.75% to 5%.

Mortgage 400

Mortgage Housing Market Construction Tools 400

Appraisal Buzz

SEPTEMBER 16, 2024

The Five Star Conference 2024 , set for Tuesday-Thursday, September 24-26 at the OMNI Hotel in Dallas, is just days away, and the list of scheduled speakers, educational offerings, and networking opportunities continues to grow, offering something for all in the mortgage space. Tuesday, September 24 at 11:30 a.m., the Five Star Conference officially kicks off with the Keys for Life Opening Luncheon , where attendees will learn about the current State of the Industry, celebrate the 2024 Lifetime

Mortgage 395

Mortgage Insurance Government Real Estate 395

Inman

SEPTEMBER 20, 2024

Falling mortgage rates should help boost home sales by nearly 10 percent next year, but in the meantime, inventory shortages and affordability challenges are keeping a lid on sales in many markets.

Inventory 171

Inventory Mortgage Marketing 171