Today's Headlines - Realty Times
Posted On Friday, 17 May 2024 12:31
Posted On Friday, 17 May 2024 12:07
Posted On Friday, 17 May 2024 11:56
Posted On Friday, 17 May 2024 06:52 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 7.02 percent.

“Mortgage rates decreased for the second consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “Given the news that inflation eased slightly, the 10-year Treasury yield dipped, leading to lower mortgage rates. The decrease in rates, albeit small, may provide a bit more wiggle room in the budgets of prospective homebuyers.”

News Facts

  • The 30-year FRM averaged 7.02 percent as of May 16, 2024, down from last week when it averaged 7.09 percent. A year ago at this time, the 30-year FRM averaged 6.39 percent.
  • The 15-year FRM averaged 6.28 percent, down from last week when it averaged 6.38 percent. A year ago at this time, the 15-year FRM averaged 5.75 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website

Posted On Friday, 17 May 2024 06:49 Written by
Posted On Friday, 17 May 2024 02:06 Written by

I am a big believer in business planning and success scheduling. My entire coaching philosophy is rooted in these two prime building blocks. While your annual business plan can create a structure and vision for the entire year, I like to work in three mini-90-day plans that help allow for local market trends and aspects of business that is also based on seasonal awareness. The first 90-day plan runs from about the third week of January through the April 15th tax filing deadline.

The second 90-day plan runs from your local calendar from about two weeks before the schools let out for the year in your area, until about three weeks after they return back to school. This really depends on your local area because these times really deviate significantly around the country. Some kids get out in May and return early August; while others get out in late June and go back after Labor Day! In some cases, there might not be much of a gap between plans.

The third 90-day plan runs from about September 15th through the last day in December you can take a loan application and get it closed before the end of the year, say December 15th or so. This will vary depending on your access to programs and your own ability to expedite a file.

While I don’t have to space here to go into details on all of these, if you have followed these blog posts you have already seen these strategies. For today, lets just take a quick look at the second 90-day block and the components you will need to address:

•  End of school and return to school dates.

•  Your personal summer availability.

•  Your team members time off requirements.

•  Your referral partner vacation schedules.

•  All holidays and community event schedules.

Without having this information, it is difficult for you to navigate time off and the opportunities the summer will present you! The ability to have a schedule and plan in place will help you take advantage of all of the summer opportunities, both personal and professional. Without it, you could really miss out!

Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 20 May 2024 00:00 Written by
Posted On Thursday, 16 May 2024 10:47

Pending home sales are down and new listings are flat during a time of year when they typically rise. But this week’s softer-than-expected inflation report sent mortgage rates down, which could bring back some homebuyers and sellers.

rates down, which could bring back some homebuyers and sellers.

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) —Pending home sales fell 4.3% from a year earlier during the four weeks ending May 12, the biggest decline in roughly three months. That’s according to a new report from Redfin (, the technology-powered real estate brokerage. Pending home sales also posted a week-over-week decline, unusual for early May.

Inventory is losing momentum, too, as would-be sellers stay put to hang onto their low mortgage rate. New listings rose 10% year over year, but they were essentially flat from a week earlier, which is significant because listings typically increase this time of year.

The housing market slumped because of sky-high housing costs. The median U.S. home-sale price is up 4.7% year over year to a record $386,951, and the median monthly mortgage payment is sitting at $2,858, just $26 shy of the all-time high set in April. But affordability is starting to improve a bit: Daily average mortgage rates have steadily declined since the start of May, and this week’s slightly softer-than-expected inflation report sent rates below 7% for the first time in over five weeks. And 6.3% of home sellers are dropping their price, on average, the highest share in a year and a half, which may mean price growth loses momentum soon.

“High prices and rates are challenging, but there are ways for buyers to take advantage of the somewhat slow market,” said Marsha McMahon-Jones, a Redfin Premier agent in Palm Springs, CA. “Sellers know that high mortgage rates mean they should expect negotiations, expect offers to come in under list price, and be ready for some back and forth on things like repairs and closing costs. Buyers may not be able to get a lower mortgage rate, but they’re often getting homes for slightly less than the asking price. It’s also a good time to buy a fixer-upper at a lower price point because those aren’t selling as quickly.”

For Redfin economists’ takes on the housing market, including more on how current financial events are impacting mortgage rates, please visit Redfin’s “From Our Economists” page.

Leading indicators

Indicators of homebuying demand and activity


Value (if applicable)

Recent change

Year-over-year change


Daily average 30-year fixed mortgage rate

6.99% (May 15)

Down from a 5-month high of 7.52% three weeks earlier

Up from 6.55%

Mortgage News Daily

Weekly average 30-year fixed mortgage rate

7.09% (week ending May 9)

Down from 5-month high of 7.22% a week earlier

Up from 6.35%

Freddie Mac

Mortgage-purchase applications (seasonally adjusted)


Declined 2% from a week earlier (as of week ending May 10)

Down 14%

Mortgage Bankers Association

Redfin Homebuyer Demand Index (seasonally adjusted)


Lowest level in 2 months (as of week ending May 12)

Down 13%

Redfin Homebuyer Demand Index, a measure of requests for tours and other homebuying services from Redfin agents

Touring activity


Up 5% from the start of the year (as of May 13)

At this time last year, it was up 21% from the start of 2023

ShowingTime, a home touring technology company

Google searches for “home for sale”


Down 8% from a month earlier (as of May 13)

Down 15%

Google Trends

Key housing-market data

U.S. highlights: Four weeks ending May 12, 2024

Redfin’s national metrics include data from 400+ U.S. metro areas, and is based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.


Four weeks ending May 12, 2024

Year-over-year change


Median sale price



All-time high

Median asking price



All-time high

Median monthly mortgage payment

$2,858 at a 7.09% mortgage rate


Just $26 below all-time high set during the 4 weeks ending April 28

Pending sales



Biggest decline since 4 weeks ending Feb. 25

New listings




Active listings




Months of supply


+0.5 pts.

4 to 5 months of supply is considered balanced, with a lower number indicating seller’s market conditions

Share of homes off market in two weeks


Down from 49%


Median days on market


+2 days


Share of homes sold above list price


Down from 33%


Share of homes with a price drop


+2 pts.

Highest level since Nov. 2022

Average sale-to-list price ratio




Metro-level highlights: Four weeks ending May 12, 2024

Redfin’s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.


Metros with biggest year-over-year increases

Metros with biggest year-over-year decreases


Median sale price

Detroit (18.8%)

Anaheim, CA (18.6%)

West Palm Beach, FL (16.2%)

San Jose, CA (13.6%)

Newark, NJ (11.7%)

San Antonio (-0.5%)

Declined in just 1 metro

Pending sales

San Jose, CA (16.6%)

Anaheim, CA (9.2%)

San Francisco (5.3%)

Newark, NJ (5.2%)

Sacramento, CA (3%)

Phoenix (-14.9%)

Atlanta (-13.6%)

Houston (-13.2%)

West Palm Beach, FL (-11.8%)

Nashville, TN (-11.1%)

Increased in 15 metros

New listings

San Jose, CA (40.2%)

Seattle (26.4%)

Phoenix (24.7%)

Oakland, CA (24.6%)

Montgomery County, PA (21.9%)

Chicago (-8.1%)

Atlanta (-3.4%)

Detroit (-3.1%)

Virginia Beach, VA (-1.9%)

Newark, NJ (-1.6%)

Warren, MI (-1.1%)

Declined in 6 metros

To view the full report, including charts, please visit:

Posted On Thursday, 16 May 2024 05:41 Written by
Posted On Thursday, 16 May 2024 00:00 Written by
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