The typical borrower could save more than $300 on a monthly mortgage payment compared to just a few months ago.Mortgage rates moved lower again this week, offering up more potential savings to home buyers. The 30-year fixed-rate mortgage averaged 6.08% this week, the lowest weekly average since September 2022, Freddie Mac reports.Rates also are now considerably lower from just a year ago when they pushed above 7%. A home buyer purchasing a $400,0
While buyers face off for homes, real estate professionals compete for business, NAR data shows.Despite a sluggish summer for home sales, potential buyers are still facing pockets of steep competition in some parts of the housing market.Sixty percent of home sellers nationwide sold their home in less than a month, a sign of strong buyer demand, according to the latest REALTORS® Confidence Index, a survey of 1,600 NAR members. But the marke
Pending home sales edged up 0.6% in August, as declining mortgage rates made home purchases more affordable, according to data released Thursday by the National Association of RealtorsPending home sales edged up modestly in August, as declining mortgage rates made home purchases more affordable, according to new data released Thursday by the National Association of Realtors (NAR).The Pending Home Sales Index (PHSI) rose 0.6 percent to 70.6 in Au
Sales of new U.S. single-family homes fell less than expected in August and could regain momentum in the months ahead as declining mortgage rates and house prices stimulate demand.The report from the Commerce Department on Wednesday also showed new home sales were higher than previously estimated in the prior three months. The Federal Reserve last week cut interest rates by 50 basis points to the 4.75%-5.00% range, the first reduction in borrow
A modest improvement in housing affordability may motivate more home buyers to make a move. Read more from NAR’s latest housing report.Pending home sales rose slightly in August as lower mortgage rates provided some motivation to prospective home buyers. But buyers continue to face challenges such as high home prices, and many may be holding out for even lower rates, surveys show.The National Association of REALTORS®’ Pending Home Sales Ind
Consumers’ view on the economy tumbled in September, falling by the largest level in more than three years as fears grew about jobs and business conditions, the Conference Board reported Tuesday.The board’s consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. The Dow Jones consensus forecast was for a reading of 104. By contrast, the index had a reading of 132.6 in Febru
The Chicago Fed National Activity Index improved to 0.12 in August from minus 0.42 in July Economic growth rebounded a little last month in the U.S., according to a monthly index set out Monday, though the broader trend remains weak amid high borrowing costs and political uncertainty.The Chicago Fed National Activity Index improved to 0.12 in August from minus 0.42 in July, the Federal Reserve Bank of Chicago said. A reading above zero is associa
Security is often a top concern for buyers. Advise your customers on the top options for cameras and doorbells.Home security technology has made incredible advancements over the last decade, bringing enhanced safety, convenience and peace of mind to homeowners. At the heart of these innovations are cameras and smart doorbells that provide real-time surveillance, motion detection, package tracking and seamless integration with other smart hom
Lighter colors can certainly add a clean, fresh and bright look to interiors, but in a few spots in the home, homeowners are wanting to add a little more drama. They’re painting rooms black, a charcoal gray, chocolate brown or a deep navy or green. The richness of the darker colors can make the space stand out, particularly when the surrounding home interiors are wrapped in otherwise light, neutral colors.Check out some of these interiors showi
U.S. Treasury yields rose after the Fed cut short-term ratesThe Federal Reserve is finally cutting interest rates. One key gauge of borrowing costs has been going up anyway.Yields on longer-term U.S. Treasurys have ticked higher since the Fed approved a 0.5 percentage point rate-cut last week. The yield on the benchmark 10-year U.S. Treasury note, which helps set interest rates on everything from mortgages to corporate bonds, settl
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