U.S. Housing Market
Report: Average Buyer’s Agent Commission Up Slightly Since New NAR Rules
The average buyer’s agent commission during the third quarter was 2.42%, up from 2.36% one year earlier, while commissions were virtually flat compared to the previous quarter. According to a new data report from Redfin, commissions are at roughly the same level they...
New York State Raises Property Tax Exemption for Seniors to 65%
Legislation S5175A/A3698A replaces the previous 50% maximum percentage of exemption local governments have been able to offer income-eligible seniors. Continue Reading New York State Raises Property Tax Exemption for Seniors to 65%
Survey: 1 in 5 Americans Have Lived in a Storage Unit
The survey also found that 84% of Americans would consider sleeping in a storage unit if they became homeless. Continue Reading Survey: 1 in 5 Americans Have Lived in a Storage Unit
FHLBank San Francisco Awards Nearly $50 Million in Affordable Housing Program Grants
“We continue to make meaningful investments to address the affordable housing crisis across Arizona, California, and Nevada,” said Joseph E. Amato, interim president and CEO of FHLBank San Francisco. Continue Reading FHLBank San Francisco Awards Nearly $50 Million in Affordable Housing Program Grants
BMO Unveils Spanish-Language Mortgage Application
The application is available both digitally and in a paper format available at branches. Continue Reading BMO Unveils Spanish-Language Mortgage Application
More older Americans become homeless as inflation rises and housing costs spike
Source: NPR --- COLUMBIA FALLS, Mont. — On a recent rainy afternoon in this small town just outside Glacier National Park, Lisa Beaty and Kim Hilton were preparing to sell most of their belongings before moving out of their three-bedroom, two-bathroom rental home....
Confidence in US housing market hits a new low: Fannie Mae
Source: Fox Business --- Consumer confidence in the U.S. housing market has tumbled to the lowest level on record as rapidly rising mortgage rates and high home prices force potential buyers to pull back. In October, just 16% of consumers said they feel that now is a...
This chart shows where US housing market prices are dropping the most
Source: ABC 10 News --- According to the American Enterprise Institute’s Housing Center, home prices are finally declining after 10 years of a seller’s market. The drop is the result of a marked increase in interest rates and constant quality home price appreciation,...
No place to land
Source: Deseret News --- Britta Joslyn was at a breaking point. She’d decided to move out of her house in Heber City, Utah, after a split-up. But, finding a new home proved Sisyphean. She needed to find a rental close to her children’s school that would accommodate...
YOUNGER AMERICANS ARE BEING PUSHED OUT OF THE U.S. HOUSING MARKET
Source: Black Enterprise --- According to a national profile of homebuyers and sellers by the National Association of Realtors (NAR), American homebuyers are Whiter, older and wealthier. The New York Times reports the NAR added first-time homebuyers account for the...
Mortgage rates collapse on softer inflation data
Source: Housing Wire --- Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the...
Trouble Ahead for U.S. Housing?
Source: Institutional Investor --- There are growing signs that the Federal Reserve’s rate policies are starting to bite into the U.S. housing market. Mortgage rates on 30-year fixed rate loans have risen from around 3% at the end of 2020 to just over 7% in October...
Local homes sales drop as mortgage rates rise
Source: WWNYTV 7 News --- WATERTOWN, New York (WWNY) - Mortgage rates are right around 7 percent for a 30-year fixed rate. Nationally, rates are at their highest since 2006 and they’ve nearly doubled since last year. So, what is this doing to the local housing market?...
With Interest Rates at 7%, Here’s How Much More You’re Paying for a $500K House
Source: Motley Fool --- If you're in the market for a new home, you're probably well aware that mortgage rates are on the rise. In fact, they've more than doubled since the beginning of the year and are now at their highest level in nearly 15 years. Mortgage rates...
Pumping the brakes on the local housing market
Source: Yahoo! News --- Nov. 5—PENDLETON — When the time came to sell her mother's condominium, Carole Edwards was cautiously optimistic that a buyer would surface quickly. She was also aware, however, that the local housing market — mirroring several nationwide...
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