Window to the Law: Showing Guidance During a Pandemic
In-person showings can be a potentially risky activity, as the coronavirus is still actively spreading in many parts of the country. By following a few key guidelines, real estate professionals can serve the best interests of their clients in selling or buying a home, while also protecting the health and wellbeing of all concerned. www.nar.realtor […]
Rates Remain Steady as Market Volatility Dies Down
After rising at a medium-quick pace to begin the week, the past 3 days have been much calmer by comparison for mortgage rates . Today was the best example of that stability with the average lender effectively unchanged from yesterday’s latest levels. In addition, there were fewer mid-day price changes among lenders than on any […]
Update: Framing Lumber Prices Up 65% Year-over-year
Here is another monthly update on framing lumber prices. This graph shows CME framing futures through Oct 2nd. Click on graph for larger image in graph gallery. This is down sharply from late August, but still up 65% year-over-year. There is a seasonal pattern for lumber prices, and usually prices will increase in the Spring, […]
Younger Agents Join the National Association of REALTORS®
Younger Americans are entering the real estate industry; 29 percent of REALTORS® have less than two years of experience. www.nar.realtor – Real Estate Story Ideas
Rates Ignore Trump’s Covid Diagnosis. Has The Bond Market Gone Crazy?
After weeks of incredibly subdued volatility, the bond market (which dictates rates) is starting to show some signs of life, but not for the same old reasons. Inflation? Inflation is one of the oldest and most significant reasons to freak out about interest rates. It was by far and away the dominant source of drama […]
‘Massively concerning’ jobs report sends a signal that the economic recovery could be fading – CNBC
‘Massively concerning’ jobs report sends a signal that the economic recovery could be fading CNBC…(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
Pending Home Sales Just Hit a New All-Time High; Applications Slowed as Rush to Beat The New Fee Dies Down
Contracts for existing home purchases rose for the fourth straight month in August and more than doubled the increase expected by most analysts. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) rose from 122.1 in July to 132.8 in August, an increase of 8.8 percent. The PHSI, based on contracts […]
NAR Interpretations and Procedures Advisory Board Recommendations
This page contains information related to the NAR Professional Standards Committee will meet on October 5, 2020, to consider recommendations from its Interpretations and Procedures Advisory Board on the Code of Ethics’ applicability to discriminatory speech and conduct. www.nar.realtor – Fair Housing
Forbearances Ending at a Faster Pace; Rates Drift Lower; Refi Market Still Hot
Black Knight said its weekly forbearance survey found the number of mortgages in active forbearance decreasing at an accelerated rate. Those mortgages fell by 2.6 percent or 95,000 loans over the last week, bring the decline over the last month to 357,000 loans. It was the fifth straight week of improvement and Black Knight noted […]