Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.77 percent. "The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping 12 basis points from last week,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are headed in the right direction and the economy remains resilient, two positive incremental signs for the housing market. However, homebuyers have yet to respond to lower rates, as purchase application demand is still roughly 5 percent below Spring, when rates were approximately the same. This is not uncommon: sometimes as rates decline, demand weakens, and the apparent paradox is driven by buyers making sure rates don’t decline further before they decide to purchase.” News Facts The 30-year FRM averaged 6.77 percent as of July 18, 2024, down from last week when it averaged 6.89 percent. A year ago at…
Posted On Friday, 19 July 2024 06:22 Written by
Mortgage rates dropped to their lowest level since February after the latest CPI report showed inflation cooling. Still, pending home sales posted their biggest decline in eight months The typical U.S. homebuyer’s monthly housing payment was $2,722 during the four weeks ending July 14, $115 lower than April’s all-time high, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s despite home prices sitting just about $100 shy of last week’s record high. Daily average mortgage rates have dropped to their lowest level since February after last week’s cooler-than-expected inflation report, bringing homebuyers a bit of relief. A homebuyer on a $3,000 monthly budget can afford a $450,000 home with a 6.8% mortgage rate, roughly the daily average as of July 17. That buyer has gained about $25,000 in purchasing power since rates hit a five-month peak in April, when they could have bought a $425,000…
Posted On Thursday, 18 July 2024 06:47 Written by
It’s impossible to find a Realtor® today who doesn’t drive home the importance of curb appeal. An attractive and well-presented exterior can mean the difference between a house sale and a house that sits on the market gathering dust. Sadly, you can have a house with a beautiful interior that is never seen due to the negative assumption from agents and buyers based on the exterior presentation. It follows that improving the visual appearance of the exterior of your structure and property is one of the best investments you can make as a seller. According to the NAR, 63 percent of homebuyers will ask for a showing after viewing a house online. The first thing they will see, even in pictures, is the exterior of your house. They have viewed the listing online and are impressed enough to schedule a showing, so be sure what they see in person is…
Posted On Thursday, 18 July 2024 00:00 Written by
You spend hours on social media each week – but do you know your ROI (return on investment)? Or are you wasting time by looking at cute kitten memes and not focusing on making sales? We all know that social media is a great way to prospect, but most agents don’t know how to measure their effectiveness online. Top performing agents know what to do, how to do it, and as a result, have seen their sales increase…and their bottom line. Successful online marketers tell us that your goal is to contribute and publish content that is relevant, timely and specific to the followers in your communities. You want to connect with purpose, not just have “followers”. Social media gives you the chance to become the “celebrity authority” in your marketplace. Here are my top tips to get you started: 1. Start a conversation! Social media engagement is just like…
Posted On Tuesday, 16 July 2024 00:00 Written by
A successful business requires more than just having a great product, service, or strategic plan. It requires obtaining and retaining the best individuals who can turn that product idea and plan into reality! You need an amazing team alongside you with the skills and foresight to propel your company into the future. But naturally, you know that every other organization in our economy is also striving for the same thing. With that being said, how do you make sure that your valued employees stay by your side? Believe it or not, the answer is not always money! First, realize that hiring the best and retaining the best are two completely different concepts. Hiring qualified employees is very much a surface-level endeavor. You are vetting candidates to determine if their qualifications are a right fit for your business and the various tasks needing completion while they are vetting you to see if your company is a right…
Posted On Tuesday, 16 July 2024 00:00 Written by
This segment addresses Tip #4 from my eBook, SmartWomen/Smarter Choices-10 Tips to work smart not hard Tip is: What do you really want?
Posted On Monday, 15 July 2024 12:43 Written by
We finally start to see that the numbers we get from the BLS report (Bureau of Labor Statistics) might be better called “Basic Lying Statistics”, as once again they have had to go back in time and adjust numbers DOWN by HUNDREDS OF THOUSANDS of JOBS…AGAIN! This nonsense must stop because it has become alarming to see that government reporting of data is so flawed that we are better served by eliminating that entire entity and just saving the money.  It is important to note that the BLS keeps presenting numbers touting the creation of hundreds of thousands of jobs, but a deeper dive shows that we are losing full time jobs at an alarming rate and those job loses are being offset by a significant rise in parttime offerings. Since so many jobs are being offered in multiple markets across multiple platforms, it can often confuse the situation and…
Posted On Monday, 15 July 2024 00:00 Written by
The last time you bought a new car, did you walk into the first dealership you saw and by the car that was in your favorite color? Of course not! You spent time doing your homework, reading reviews, comparing features, and when you had your choices narrowed down, you did a couple of test drives to see how the car handled. If you were just looking for a car that ran, then any dealership would do. But when you’re quite specific, seeking unique deliverables, then only a dealership that specializes in the brand and promise you’re seeking will fit the bill. Although a house and a car are different types of purchases on the surface, the premise for selection is similar. Today, sales is leadership. Anyone wanting to buy a home can get a ton of information from the internet, check out reviews and use online calculators, but in the…
Posted On Sunday, 14 July 2024 00:00 Written by
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.89 percent. "Following June’s jobs report, which showed a cooling labor market, the 10-year Treasury yield decreased this week and mortgage rates followed suit,” said Sam Khater, Freddie Mac’s Chief Economist. “We’re also seeing more inventory on the market, including a fair number of listings with price cuts, which is an encouraging sign for prospective buyers.” News Facts The 30-year FRM averaged 6.89 percent as of July 11, 2024, down from last week when it averaged 6.95 percent. A year ago at this time, the 30-year FRM averaged 6.96 percent. The 15-year FRM averaged 6.17 percent, down from last week when it averaged 6.25 percent. A year ago at this time, the 15-year FRM averaged 6.30 percent. The PMMS® is focused on conventional, conforming, fully amortizing home purchase…
Posted On Thursday, 11 July 2024 09:44 Written by
Page 1 of 62

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.