With average 30-year mortgage rates reaching 7.79 percent in October – the highest level since 2000 – lenders were forced to get creative financing homes, leading to high customer satisfaction in 2023.
The share of consumers who think it’s a less-than-optimal time to buy or sell a home keeps ticking upwards as interest rates rise and housing affordability drops.
A new report from Redfin suggests another way higher mortgage interest rates are taking their toll on the housing market: more homebuyers bailing on purchases.
Owners who are just now putting their homes on the market appear to be an optimistic bunch. Whether they are too hopeful remains to be seen, but the signs are pointing to a slowdown that could stop the march of ever-higher prices.
Connecticut is trying to lure younger, talented workers with a new website and Instagram account, both called CTForMe.
A new report from the Consumer Federation of America argues that agents who represent both the buyer and seller in a transaction do a disservice to buyers, and the practice of dual agency should be banned.
About 61 percent of Americans think June was a good time to buy a home according to a new survey from Fannie Mae which wrapped up just before COVID-19 cases started spiking in many states outside the Northeast.
Over half of agents surveyed reporting they had at least one seller decide to delay the home-selling process by “a couple of months.”
Could lenders’ pain be your gain if you’re shopping for a home mortgage? Maybe.
For homeowners and buyers, it’s been an unexpected windfall: relief from having to pay for a traditional mortgage appraisal that usually costs between $400 and $600.
After a long career in marketing for companies that included Apple, Hewlett Packard and Xerox, Joe Scozzafava turned his talents to real estate.
Just 6 percent of prospective homebuyers would halt their home search if mortgage rates rose above 5 percent, according to a late-2017 survey commissioned by real estate brokerage, Redfin.
Next year’s housing market is will largely be defined by continued demand for homeownership, tax reform’s effect on affordability and low inventory, according to Redfin’s predictions for 2018.
There are a lot of potential influences on the mortgage and real estate markets at any given time. While many of 2016’s issues are merely the continuation of 2015’s technology, regulation, rising prices – there are some new trends of which lenders need to be aware. Below are some of the challenges mortgage professionals will face this year.
