Homebuyers are feeling whiplashed by surging mortgage rates, and their outlook just turned grimmer. The average rate on the 30-year mortgage increased to 7.37% on Thursday, a steep climb from 7.11% at the beginning of the week, according to Mortgage News Daily. The quarter-point increase comes as rattled investors respond to a hotter than expected
US pending home sales, a measure of contract signings on existing homes, gained momentum in February as some buyers raced ahead of climbing mortgage rates. After dipping in January, the index for pending home sales rose 1.6% in February, according to data from the National Association of Realtors (NAR) released Thursday. The reading of 75.6
The National Association of Realtors (NAR) recently agreed to a $419 million settlement and to drop the requirement for home sellers to pay the buyer’s agent commissions, the biggest shake-up to residential real estate in decades. In this video, we’ll discuss the numerous ways Zillow (NASDAQ: ZG)(NASDAQ: Z) could be affected, both now and in
The National Association of Realtors (NAR) settlement of commission lawsuits nationwide is expected to force mortgage lenders and loan officers to find new ways of approaching listing agents and borrowers, give LOs a more significant role in the home-buying process, and encourage housing professionals to pursue dual-licensing, industry experts told HousingWire. Mortgage pros have closely