Top Headlines
NAR Supports New Biden Plan on Addressing Housing Affordability
NAR’s Chief Advocacy Officer Shannon McGahn met with White House officials last week. Continue Reading NAR Supports New Biden Plan on Addressing Housing Affordability
Supreme Court Rules Cities Can Ban Outdoor Sleeping Encampments
“Homelessness is complex,” wrote Justice Neil Gorsuch for the majority ruling. Continue Reading Supreme Court Rules Cities Can Ban Outdoor Sleeping Encampments
One Week After Settlement, HomeServices Faces New Commission Lawsuit
The new lawsuit was filed in a Miami federal court and is seeking at least $5 million in damages. Continue Reading One Week After Settlement, HomeServices Faces New Commission Lawsuit
FHFA and HUD Announce New Reconsideration of Value Policies
FHFA Director Sandra L. Thompson said the policies will “help ensure that consumers are treated fairly.” Continue Reading FHFA and HUD Announce New Reconsideration of Value Policies
Federal Reserve Keeps Rates Unchanged
The rate has been kept at that level since last July. Continue Reading Federal Reserve Keeps Rates Unchanged
Mortgage Rates Edge Back Down. More Volatility Looms
Source: Mortgage News Daily --- Mortgage rates moved sharply higher last week relative to where they ended the previous week. In the 3 weeks before that, rates fell at one of the fastest paces on record, largely because the starting point was the highest level since...
Should I wait for real estate prices to crash before I buy a house? Here are 3 simple reasons why this housing downturn is nothing like 2008
Source: Yahoo Finance --- Two years in, this decade has already brought a global pandemic, record-setting inflation, rising interest rates and a country more divided than ever before. So why not a housing crash too? Americans who lived through the 2008 crisis may be...
The Drop in Mortgage Rates Brings Good News for Homebuyers
Source: Keeping Current Matters --- Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this...
Homeownership just got 5% cheaper as mortgage rates fall off a cliff
Source: Yahoo Finance --- U.S. mortgage rates fell sharply and for the second straight week as monetary policies meant to slow the economy take hold of the housing market. The rate on the popular 30-year fixed mortgage hasn’t fallen this much since December 2008, a...
Mortgage rates just saw their biggest drop since 2008: Two reasons why that’s not good news.
Source: USA Today --- Earlier this week, Freddie Mac reported that mortgage rates had fallen rapidly over the course of the week. The government-sponsored entity that buys mortgages on the secondary market tracks trends in mortgage rates. Its data showed that the...
The Bay Area Housing Market Is Cooling More Rapidly Than Anywhere Else in the Country
Source: Redfin --- Housing markets in northern California are cooling faster than anywhere else in the U.S. amid high mortgage rates and a faltering stock market. Five of the 10 U.S. housing markets that have cooled fastest this year are in northern California–San...
The housing market, at last, appears to be cooling off
Source: Washington Post --- After a stunning rise in home prices enriched sellers and keyed up buyers into frantic bidding wars, there are signs that the U.S. housing market is starting to cool amid a surge of new inventory and higher interest rates. “For sale” signs...
6 of the 10 housing markets in America most vulnerable to a downturn are in this state
Source: Marketwatch --- Six of the 10 counties most vulnerable to a downturn are in New Jersey, according to a Special Housing Risk Report — which looked at the highest concentrations of the most at-risk markets in the first quarter of 2022 — released by ATTOM, a real...
Rising mortgage rates are hitting Americans’ wallets. Here’s how to adjust your housing budget
Source: CNBC --- Homebuyers are feeling the squeeze of rising mortgage rates. On top of that, housing prices remain high. That may lead many to rethink their budget. “As mortgage rates go up, it raises the cost of buying a home with a mortgage,” explained Danielle...
Mortgage applications slip for second consecutive week
Source: Fox Business --- Mortgage applications have fallen for a second consecutive week as homebuyers' fears of a potential recession continue to grow. For the week ending July 1, the Mortgage Bankers Association reported a 5.4% decrease in mortgage applications...
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