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Cape Cod Estate Adjacent to the Kennedy Compound Listed for Nearly $20 Million

Cape Cod Estate Adjacent to the Kennedy Compound Listed for Nearly $20 Million

by Phil Hall | Oct 31, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A Cape Cod estate located adjacent to the Kennedy Compound in Hyannis Port, Massachusetts, has been listed for the first time in a quarter-century for $19.8 million. The 3-acre property known as “Port View” features a 9,629-square-foot mansion built in 1914. The...
Mortgage Application Payments Down in September

Mortgage Application Payments Down in September

by Phil Hall | Oct 31, 2024 | Mortgage Information, News/Current Events, Real Estate News, WRE News Exclusive

Homebuyer affordability improved last month as the national median payment applied for by purchase applicants dropped by 0.8% from $2,057 in August to $2,041 in September, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index....
Mortgage Industry Executive Frank Pallotta Weighs Run for New Jersey Legislative Seat

Mortgage Industry Executive Frank Pallotta Weighs Run for New Jersey Legislative Seat

by Phil Hall | Oct 31, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Longtime mortgage industry executive Frank Pallotta has set up an exploratory committee to consider a run for New Jersey’s 39th Legislative District Assembly seat. Pallotta is considering a potential challenge to incumbent Assemblyman Robert Auth for the Republican...
Mortgage Rates Up for Fifth Straight Week

Mortgage Rates Up for Fifth Straight Week

by Phil Hall | Oct 31, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates continued their upward climb in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.72% as of Oct. 31, up from last week when it averaged 6.54%. A year ago at this time, it...
Redfin: Buyer’s Agent Commissions Mostly Unaffected Since NAR Rule Change

Redfin: Buyer’s Agent Commissions Mostly Unaffected Since NAR Rule Change

by Phil Hall | Oct 31, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Aug. 17 rule change by National Association of Realtors (NAR) on commissions appears to have minimal impact on how buyer’s agents are paid. According to new data from Redfin (NASDAQ: RDFN), the average buyer’s agent commission for homes sold in October was...
Nearly Half of Recent Homebuyers Secured Mortgage Rates Below 5%

Nearly Half of Recent Homebuyers Secured Mortgage Rates Below 5%

by Phil Hall | Oct 31, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

While current mortgage rates are in the vicinity of 7%, roughly half (45%) of recent homebuyers secured a mortgage with a rate below 5%, according to data from Zillow (NASDAQ: Z, ZG). More than one-third (35%) of these recent buyers were able to get a lower rate...
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