According to the latest LendingTree survey of nearly 2,000 Americans, 6 in 10 live in a region with their preferred climate. Of those who don’t, 20% say they’re eyeing a move to their preferred climate in the next year. Here's a closer look at our findings.
You can check out our full report here: https://www.lendingtree.com/home/mortgage/climate-survey/
LendingTree's Senior Economist, Jacob Channel, says weather should never be the only factor in your decision about where to live.
"You always want to be sure that whatever area you settle in is affordable to you, and in that same vein, you’ll want to be sure you can work a steady, safe job there. You should also consider factors like how your location will impact your relationships with family, friends and romantic partners, and whether it’ll provide you with enough entertainment or recreational activities to keep you occupied."
First let me start out by saying I am not an attorney and all the views here are my own opinions based on the public information and conversations I have had with those in the industry. The recent settlement between NAR and the DOJ contains many items that will need to be addressed and dealt with, all before July 2024 if we are to believe the initial reports. That said, there is more information to cover than we can possibly review in a short blog post, but here are some of the highlights I have spotted and will cover more deeply in future posts.
• This settlement only covers members of NAR and those companies that have completed LESS than two billion dollars in transactions.
• Since not all agents and companies are members of NAR, they are NOT covered by this agreement, but they likely will be affected by it none the less.
• This will also impact the local MLS that publish real estate information as to what they can and can’t publish.
• The outline of this agreement is supposed to be final and in place by July 2024.
• The main item of change will be the requirement of buyers to pay their own agent compensation or negotiate those fees as part of their offer to purchase.
• Secondary items are likely to have an impact on agents to represent the value of their fees, the issue of acceptance of sellers to continue to pay for buyer representation, and the likelihood that some buyers will now be blocked from home ownership due to restrictions on the amount or the ability of seller’s concessions toward purchase costs. This will especially impact many VA buyers and those who must use seller concessions to their fullest extent to get into that home.
I am working with real estate and financial professionals to dig deeper into the challenges and potential solutions. I have even reached out to members of congress to see what may or may not be possible to prevent significant disruptions to the home buying process in the future. There is a lot to discuss, if you would like to connect, please reach out: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.
“After decreasing for a couple of weeks, mortgage rates are once again on the upswing,” said Sam Khater, Freddie Mac’s Chief Economist. “As the spring homebuying season gets underway, existing home inventory has increased slightly and new home construction has picked up. Despite elevated rates, homebuilders are displaying renewed confidence in the housing market, focusing on the fact that there is a good amount of pent-up demand, an ongoing supply shortage and expectations that the Federal Reserve will cut rates later in the year.”
News Facts
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
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