Mortgage rates blew past the dreaded 7% level for the first time this year, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 7.10% as of April 18, up from last week when it averaged...
Existing home sales tanked in March, according to data from the National Association of Realtors (NAR). Last month, total existing home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – declined by 4.3% from February...
Home sales in March increased 21.6% over February, according to new data from RE/MAX LLC, which attributed this spike to a 20.9% increase in new listings that resulted in a 7.7% expansion in inventory. “As we move into what is normally the prime homebuying...
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage and risk management services firm, has acquired Metairie, Louisiana-based Fontenelle & Goodreau Insurance LLC, a provider of commercial property/casualty coverages specializing in large...
The Austin Board of Realtors (ABoR) is backing a proposal to expand affordable homeownership opportunities by subdividing single-family lots for the building of smaller and less expensive homes. According to a CBS Austin report, the median price for home sales in the...
Rhode Island Housing Secretary Stefan Pryor is complaining that his state’s new construction supply is not keeping pace with the local demand. “Our housing production rate is too low,” said Pryor in an interview with NBC 10 News WJAR-TV. “In fact, it’s the lowest in...
Hits and Misses for the Real Estate Week of June 15-19
