Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.87 percent. “Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut,” said Sam Khater, Freddie Mac’s Chief Economist. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market. Aspiring homeowners should remember it’s important to shop around for the best mortgage rate as they can vary widely between lenders.” News Facts The 30-year FRM averaged 6.87 percent as of June 20, 2024, down from last week when it averaged 6.95 percent. A year ago at this time, the 30-year FRM averaged 6.67 percent. The 15-year FRM averaged 6.13 percent, down from last week when it averaged 6.17 percent. A year ago at this time, the 15-year FRM averaged…
Posted On Thursday, 20 June 2024 09:18 Written by
More than half of luxury homebuyers would be unlikely to make an offer on a home with an outdated kitchen More than four in five (86%) luxury homebuyers rank double vanities as must-haves when searching for a home, making them the most asked-for kitchen and bathroom features among high-end buyers this year. Next come kitchen islands and granite or quartz countertops, with 85% of luxury buyers asking their agents for each of them, followed closely by walk-in pantries (83%). This is according to a survey commissioned by Redfin, the technology-powered real estate brokerage. Roughly 300 Redfin Premier agents responded to the survey, which Qualtrics conducted in April-May 2024. The relevant question was: “How common is it for luxury buyers to ask for each of the following bathroom/kitchen amenities?” For the purpose of this release, Redfin included responses that deemed each feature “very common.” How common is it for luxury buyers…
Posted On Thursday, 20 June 2024 06:33 Written by
Redfin reports price growth is slowing thanks to a small uptick in new listings as elevated mortgage rates keep buyers at bay U.S. home prices rose 0.3% month over month in May—the smallest increase on a seasonally adjusted basis since January 2023, per a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Prices climbed 7.2% from a year earlier, but annual growth showed signs of plateauing. This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period and how those prices have changed since the last time those same homes sold. It’s similar to the S&P CoreLogic Case-Shiller Home Price Indices but publishes more than one month earlier. May data covers the three months ending May 31, 2024. While home…
Posted On Tuesday, 18 June 2024 05:47 Written by
The role a marketing professional or marketing agency plays in the business world has already been evolving over the years. A century ago, marketing was relegated to salespeople going door to door, sharing flyers and implementing word-of-mouth efforts. Even in the early 2000s, the act of promoting products and services revolved around creating one-way forms of communication. This included TV commercials, web ads, and marketing materials that were all very one-sided and informative. In today’s environment of accelerated digital change, merely informing a customer using antiquated marketing tactics is no longer sufficient to stay ahead of your competition or ahead of consumers’ changing needs. Marketing demands now require an individual or team to implement a more dynamic approach focused on addressing future challenges now. This is made possible with Anticipatory thinking and the exponential use of advanced digital technology available to all. We are going to take an in-depth look at the trends…
Posted On Tuesday, 18 June 2024 00:00 Written by
  The power of looking forward is often lost on those who just move from one day to the next, one week at a time, or just looking at results on a month-to-month basis. These people lose the perspective of the kind of long-range view that can maximize results. Many things must be done in the moment, but it really helps your mindset and your business if you spend a little bit of time each week being engaged in the process of looking forward. As you have noticed, my emphasis on annual business planning in October so we can implement and be scheduled to hit the ground running in the new year with a full head of steam. Maybe you have read my article about the three distinct and critical 90-day windows of opportunity to focus and generate business while leaving time to vacation and unwind in the gaps in…
Posted On Monday, 17 June 2024 00:00 Written by
Father’s Day, LendingTree is revisiting single-parent homeowners, focusing on single fathers. We analyzed housing data to show homeownership rates among men who live without a spouse in a household with children younger than 18. Metros with the highest homeownership rates among single dads Minneapolis Pittsburgh Cleveland Cincinnati  St. Louis Metros with the lowest homeownership rates among single dads Los Angeles San Jose Orlando San Diego New York  You can check out our full report here: https://www.lendingtree.com/home/mortgage/single-dads-study/ LendingTree's Senior Economist and report author, Jacob Channel, had this to say.  "Homeownership can bring with it more stability than renting and therefore can be seen as an especially appealing goal for single fathers. That said, single fathers should recognize that buying a house isn’t always the best idea, especially if doing so will leave you seriously cash-strapped or otherwise make it hard for you to make ends meet. Remember renting a house you…
Posted On Sunday, 16 June 2024 06:30 Written by
The median asking rent climbed 0.8% year over year to $1,653 — just $47 below the record high. Washington, D.C., Cincinnati and Chicago all saw double-digit increases. The median U.S. asking rent rose 0.8% year over year in May to $1,653 — the highest level since October 2022, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the second consecutive increase (rents climbed 0.9% year over year in April) following 11 months of decreases. Rents rose 0.5% on a month-over-month basis. Apartment prices are closely tied to apartment supply. Multifamily construction surged during the pandemic moving frenzy, which pushed rent prices down because building owners were competing for tenants. While multifamily building starts have fallen below their 10-year historical average, there’s still a backlog of new units that are hitting the market every month, which is putting a lid on how much prices can grow.…
Posted On Sunday, 16 June 2024 06:17 Written by
Have you ever experienced a particularly stressful period of time in your life? How do you best connect with clients and re-engage in your real estate business? Your Place of Strength When you have had an out-of-control period of your life, whether that be because of work, a huge project, family issues that demanded your attention, or even health issues, although getting your business up and moving again is one of your top priorities, I would encourage you to do that from a place of strength, not chaos. I first want you to choose an area of your house or office that is small, but that needs attention. It can be a sock drawer. Maybe it is your jewelry or makeup. Maybe it is your fridge. Maybe your car is driving you nuts. Whatever it is, take an hour or two and just start taking action by throwing stuff away,…
Posted On Sunday, 16 June 2024 00:00
The median U.S. home sale price hit a record high in May as demand continued to outpace supply, with the number of homes for sale roughly 25% below pre-pandemic levels Home sales fell 1.7% month over month in May on a seasonally adjusted basis and dropped 2.9% from a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. There have been just two months in the past decade with fewer home sales: October 2023, when mortgage rates jumped to a 23-year high, and May 2020, when the onset of the pandemic brought the housing market to a halt and home sales to a record low. “Buyers today are facing many of the realities of a hot market even though few homes are changing hands,” said Redfin Senior Economist Elijah de la Campa. “Sales are sluggish because high homebuying costs are making both house hunters…
Posted On Friday, 14 June 2024 05:48 Written by
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