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Weekly Mortgage Demand Plateaus Amid Rising Interest Rates
Mortgage demand is struggling to contend with what appears to be another upswing in interest rates, causing homebuyers, in particular, to pull back. Last week, total mortgage application volume rose 3.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. However, this increase was solely due to refinancing activity. The […]
Concerns Arise Over US Commercial Real Estate Stresses, Deemed Manageable
U.S. Treasury Secretary Janet Yellen expressed her concerns on Tuesday regarding the impending stresses faced by banks and property owners in the commercial real estate sector. Speaking at a House Financial Services Committee hearing, Yellen highlighted the challenges posed by the refinancing of commercial real estate loans amidst higher interest rates and increased vacancies due […]
Seattle Housing Market Improves in January
The Seattle-area housing market experienced a modest uptick in January following a slower December, yet activity remains subdued amidst high home prices and interest rates posing challenges for buyers. According to data from the Northwest Multiple Listing Service, homebuyers in the Seattle area initiated more transactions in January compared to December, a typical seasonal trend, […]
Mortgage Rates Experience Second Decline in 2024
In a recent report, Freddie Mac revealed a decline in the average rate for a 30-year loan to 6.63%, down from 6.69% the previous week, potentially contributing to a rebound in the US housing market this spring. While experts predict a busier buying season as supply and demand return with the decline in mortgage rates, […]
Keller Williams Settles Agent Commission Lawsuits for $70 Million
One of the nation’s largest real estate brokerages, Keller Williams Realty Inc., has proposed a settlement to resolve over a dozen lawsuits nationwide concerning agent commissions, agreeing to pay $70 million. The agreement, filed in federal courts overseeing cases in Illinois and Missouri, focuses on enhancing transparency regarding commissions for homebuyers and sellers, aiming to […]
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