Rates on 30-year mortgages rose to 6.65% from 6.63% last week, Freddie Mac said. Borrowing costs on 15-year mortgages rose to 5.8% from 5.79%. WASHINGTON — The average rate on a 30-year mortgage in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers leading into the … Read more
Nearly one in three renters admit to delaying a home purchase because of misgivings about the mortgage process. CHICAGO — Americans are confused about mortgages and many other financial aspects of homeownership, according to a new survey of about 1,000 prospective buyers and homeowners conducted by JW Surety Bonds. One in three renters say their … Read more
Homeowners say they have made functional changes to how they use their home in the last few years, including space for hobbies, exercise and remote work. WASHINGTON — Since the pandemic, many consumers are using their homes in new and different ways including living with multiple family members under one roof, expanding outdoor living spaces … Read more
Some buyers are using rent-to-own deals to lock in home prices while waiting for better financing. Rent-to-own offers flexibility and negotiation benefits. NEW YORK — Affluent home buyers are increasingly interested in rent-to-own transactions, but not because they are unable to afford a down payment. These agreements can give buyers of high-end homes an opportunity … Read more
A survey shows many buyers want an outdoor living area to maximize their home exteriors. A deck or pavers can enhance useability and value. NEW YORK — Outdoor living spaces have become sought-after commodities among homeowners. A 2022 survey of homeowners conducted by the New Home Trends Institute found that open yards are less appealing … Read more
New agents should focus on building referrals through people they already know, including family, friends and local business owners. CHICAGO — In the real estate business, no relationships mean no deals. No deals = no money. Simple, right? As I traveled the country as one of your NAR YPN reps, one thing is crystal clear: … Read more
Couples often wait years after marriage to buy a home. To save time, opt for cash wedding gifts, avoid debt, explore first-time buyer programs and use tax benefits. NEW YORK — Weddings and homeownership are two major goals for many couples but affording both takes years of careful saving and planning. In 2024, the median … Read more
Realtors gathered in Tallahassee for Great American Realtor Days to meet with lawmakers and discuss topics that include property rights and funding for vital programs. TALLAHASSEE, Fla. — Realtors® from across the state gathered in the capital this week to bring lawmakers a unified message on issues vital to homeownership, private property rights and the … Read more
The case upholds NAR’s optional “no-commingling” rule, affirming that MLSs can independently decide whether to adopt it — a significant victory for NAR. NEW YORK — A federal appeals court on Monday upheld a ruling to dismiss antitrust claims against the National Association of Realtors® and Zillow stemming from a lawsuit filed by the Real … Read more
Closed hospitals, with ideal features for housing, are being converted due to low inventory. In 2023, hospital conversions received $161M in tax credits. NEW YORK — In areas that have low housing inventory, shuttered hospitals and the surrounding property are prime targets for conversions. With wide hallways, tall ceilings and abundant natural light, many closed … Read more
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