Refi Share of Freddie’s Volume Held Steady Last Month
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 12.0 percent in November compared to a 15.7 percent gain in October. The portfolio balance at the end of the period was $ 3.211 trillion compared to $ 3.179 trillion the prior month and $ 2.734 trillion a year […]
Strong New Home Sales a Moving Target Thanks to Revisions
Posted To: MND NewsWire November was another one of those months for new home sales when the topline numbers look terrific. And then you take a second look. The U.S. Census Bureau and Department of Housing and Urban Development reported on Thursday that new home sales surged 12.4 percent from October to November. However, the […]
Inflation Is Back in a Big Way: What That Means for Borrowers and Mortgages
(TNS)—Inflation hit 6.8% in November, its loftiest level since the long-ago era of Reaganomics and America’s war on inflation. If prices continue to soar, mortgage rates will head higher, too. But there’s a silver lining to this cloud for borrowers as well. Today’s combination of low mortgage rates and high inflation is exceedingly rare. So […]
String of Existing Home Price Increases Now Longest on Record
Existing home sales came in a little lower than expected in November, but it was still the third consecutive gain. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhouses, condos, and cooperative apartments were at a seasonally adjusted annual rate of 6.46 million units, a 1.9 percent increase over the 6.340 […]
Have You Had a Vision?
When you lead a team or own a business, be it real estate or not, you won’t have progress or growth without a well-formed vision. At least, that’s what people say, right? If you’ve ever been to any kind of business seminar or leadership retreat, you’ve heard speakers or coaches talk about it. Maybe they […]
Are You Making These 4 Common Home Pricing Mistakes?
sale. Pricing isn’t always a simple, straightforward process, and can often waste time and money and lead to frustration for both you and the seller. In this article, top real estate agents and brokers share the most common home pricing mistakes they see and how to fix them. Mistake No. 1: Ending a Price in […]
REALTORS® Relief Foundation’s 20th Anniversary Campaign Exceeds $8.5M Goal for Disaster Relief
RRF Campaign Exceeds $ 8.5M Goal for Disaster Relief The money raised by the REALTORS® Relief Foundation will provide housing relief to victims of hurricanes, floods, wildfires, and other disasters. Media Contact: Spencer High 202-383-1051
Mortgage Rates Inch Up Following Fed Policy Changes
The 30-year fixed-rate mortgage (FRM) averaged 3.12% for the week ending Dec. 16, according to Freddie Mac’s latest Primary Mortgage Market Survey®. Mortgage rate details: The 30-year fixed-rate mortgage averaged 3.12% with an average 0.6 point, up from last week when it averaged 3.10%. Last year, the 30-year FRM averaged 2.67%. The 15-year fixed-rate mortgage averaged 2.34% […]
A Mindset for Thriving in Uncertain Times
A good place to start is with a bit of reflection on what we’ve learned. We may reflect wistfully on life and business pre-pandemic, but the reality is, we can never go back to 2019. The good news is that we can take the last two years’ experiences and use them to propel our production […]
Mortgage Rates Start Lower, But Could See Some Volatility This Week
Mortgage rates have been fairly flat in the bigger picture, but each passing day continues to bring small scale movements. This is almost always the case, even if rate quotes don’t seem to be changing. One key reason for this is the difference between “note rate” and “effective rate.” The former is the rate that […]