Newsmaker Spotlight: Kathy Connelly Talks Relocation Trends and Opportunities for Agents
As the senior vice president of relocation and corporate services for Berkshire Hathaway HomeServices (BHHS) Georgia Properties, Kathy Connelly leverages her 30 years of industry experience to lead key business initiatives and serve as a qualifying broker. She was appointed to the Board of Directors for Worldwide ERC® in 2020, where she helps the international […]
Another Day; Another Long-Term High For Rates
Mortgage rates haven’t really been able to catch a break recently. This week is shaping up to be one of the worst since March. Since then, only 2 other weeks have been worse and they both occurred in the past month. In and of itself, today’s jump in rates wouldn’t be too troubling, but when […]
New Home Purchase Applications Fall as Construction Costs Rise
The volume of applications for mortgages to purchase newly constructed homes plunged in September, falling 16.2 percent from the September 2020 level according to the Mortgage Bankers Association’s (MBA’s) Builder Application Survey (BAS.) Compared to August the volume of applications was down 4.0 percent. These changes are not seasonally adjusted. Based on the volume of […]
Is Now a Good Time to Become a Landlord?
TNS—Q: We are getting older and ready to move to a smaller home. Our plan has always been to rent our existing house to make extra money toward our retirement. After the eviction moratorium, we are nervous. Is it a good time to be a landlord? — Jerri A: Not collecting rent is a scary […]
NAR Releases Its 2022 Statistical & Forecast News Release Schedule
NAR 2022 Statistical & Forecast News Release Schedule The National Association of Realtors® has released its statistical & forecast news release schedule for 2022. Media Contact: Troy Green 202-383-1042
Are Rates Doomed to Continue Higher?
Posted To: Mortgage Rate Watch After a calm summer at historic lows, interest rate volatility has ramped up heading into the fall. What are rates worried about, and is this just the beginning of more drama? In a word: maybe! Because they’re based on bonds, rates are always worried about anything that can have a […]
What To Do When 1 in 8 Home Purchases Have A Low Appraisal
When you finance a home purchase, your lender will make the loan based on the lower of the home’s appraised value and your contract price. And right now, CoreLogic data says about 13% of appraisals (1 in every 8) are below purchase contract prices in America. So is your home purchase deal dead if your […]
Housing Affordability Continued to Improve in August
At the national level, housing affordability increased for the second consecutive month in August compared to the previous month, with the monthly mortgage payment falling by 1.1% and the median family income falling modestly by 0.7%. www.nar.realtor – Research
Mortgage Application Volume at Three-Month Low; Rates Steady But Volatility Could Return
Mortgage applications declined by the largest margin in three months during the week ended October 1. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, decreased 6.9 percent on a seasonally adjusted basis from one week earlier. It was the biggest decline since an identical loss during the week […]
Forbearances Expiring; Remote Work Not Killing Cities; Rates Surge Higher Despite Weak Jobs Data
The number of mortgages in forbearance saw its l argest reduction in 12 months l ast week. Black Knight said 177,000 loans exited the program, many of them having reached the end of the 18 months of reduced or suspended payments allowed for those financially impacted by the COVID-19 pandemic. This is an 11 percent […]