Veterans Affairs Removes Compensation Hurdle for Military Buyers
REALTOR® Magazine The Department of Veterans Affairs officially announced Tuesday a temporary policy allowing VA home buyers to compensate their real estate agent directly. The department says it will determine whether a formal rulemaking process is necessary. The move brings relief to VA home buyers, whom the National Association of REALTORS® has been working feverishly to support […]
Full StoryVeterans Affairs Signals Temporary Suspension of Buyer Agent Payment Ban
Official says the department will temporarily allow VA buyers to directly compensate their agent.
Full StoryHome Buyers See Slight Reprieve in Mortgage Rates
By Melissa Dittmann Tracey, REALTOR® Magazine Mortgage rates dipped to a 7.02% average this week, the second consecutive week for declines, Freddie Mac reports. “The decrease in rates, albeit small, may provide a bit more wiggle room in the budgets of prospective home buyers,” says Sam Khater, Freddie Mac’s chief economist. Rates above 7% have […]
Full StoryThe Truth About the NAR Settlement Agreement
From REALTOR® Magazine The national conversation around real estate commissions reached a crescendo since the National Association of REALTORS® announced a settlement agreement that would resolve litigation brought on behalf of home sellers related to broker commissions. Brokers and agents have their own questions about what comes next for their businesses, while at the same […]
Full StoryEconomist: Mortgage Rates Will Dip Below 6% Soon
After doubling from a year ago, rates likely will experience less volatility in 2023, says NAR Director of Forecasting Nadia Evangelou.
Full Story5 Trends That Defined the 2022 Real Estate Market
Housing was on a roller coaster this year, going from a homebuying frenzy to a standstill. These market dynamics will carry into 2023.
Full StoryHappy Halloween? Mortgage Rates Average 6.66%
By Melissa Dittmann Tracey, REALTOR® Magazine Despite a slight decrease this week in mortgage rates, the average for the 30-year fixed-rate loan remains more than double what it was a year ago, adding hundreds of dollars per month to financing costs for home buyers. This is prompting more buyers to retreat from the market: Mortgage […]
Full StoryYun: Possible Economic Downturn Likely to Be Mild
By Catherine Mesick, REALTOR® Magazine The country isn’t officially in a recession yet, despite two consecutive quarters of national contraction of the gross domestic product, a commonly cited indicator of an economic downturn, says Lawrence Yun, chief economist for the National Association of REALTORS®. And several healthy economic trends, including a robust job market, coupled […]
Full Story2nd Historic Fed Rate Hike Unlikely to ‘Further Damage’ Mortgage Borrowers
Melissa Dittmann Tracey, REALTOR® Magazine With skyrocketing inflation and mounting recession fears, the Federal Reserve made another aggressive move Wednesday, raising its benchmark rate by three-quarters of a percentage point for the second time this year to try and tame the economy. However, higher mortgage rates may not necessarily be on the horizon as a result, […]
Full StoryHome Sales Retreat to Pre-Pandemic Levels
By Melissa Dittman Tracey, REALTOR® Magazine Home sales are falling from their pandemic-fueled highs as home buyers tighten up their budgets. “Home sales have essentially returned to the levels seen in 2019—prior to the pandemic—after two years of gangbuster performance,” says Lawrence Yun, chief economist for the National Association of REALTORS®. Movement in both single-family […]
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