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Why industry experts don’t expect mortgage rates to fall

Housing Wire

Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement. The Fed’s short-term rate does not directly impact long-term mortgage rates, but it does steer market activity to create higher rates and reduce demand. . “In

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The Real Estate Standoff: Existing Home Sales are Up, Despite Reluctant Sellers

Broke Agent Media

BAM Key Details: According to the National Association of REALTORS®, existing home sales increased 14.5% Year-over-year, however, existing home sales dropped 22.6% and the median existing-home sale price fell 0.2% That said, year-over-year, existing home sales are down 22.6%. from a year ago to $363,000.

Sales 98
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These Sales Tell Tales!

Toronto Realty Blog

I’m looking at one now that’s coming onto the market on Thursday as well as one that was on the market last year and did not sell. I currently have a five-year, fixed-rate mortgage approved at 1.30%. That is a little more than one-quarter of my first mortgage rate back in 2005.

Sales 96
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Mortgage Rates Just Hit a 4-Month Low, but Do Homebuyers Even Notice—or Care?

Realtor.com

Getty Images Mortgage rates are down again this week, which means things are looking up for homebuyers. The average rate for a 30-year fixed-rate mortgage ticked down 2 basis points to 6.13%, according to Freddie Mac , continuing a pattern of rates seesawing lower since topping 7% in the fall.

Mortgages 118
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How Long Should a House Sit on the Market Before Selling?

HomeLight

The DOM (days on market) factor. According to the National Association of Realtors , DOM — days on market — indicates the number of days from when the property was first listed for sale on the Multiple Listing Service ( MLS ) to the date a seller signs a contract of sale. Low inventory.

Marketing 111
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Housing Market Paradox: Soaring Prices, Declining Sales in June

Marco Santarelli

The housing market just delivered a mind-boggling contradiction: home prices soared to a record high in June, while sales plummeted by a shocking 5.4%. Home Prices Hit New High, But Sales Crash 5.4% in June 2024 Overview of Existing-Home Sales The housing market in 2024 has shown significant shifts, particularly evident in June.

Sales 52
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NAR Reports Existing Home Sales Are Down, But Steve Harney Remains Optimistic About Opportunities

Broke Agent Media

BAM Key Details: A new NAR report shows April existing home sales have dropped month over month by 3.4% months’ supply at the current monthly sales pace. The NAR report relies heavily on median sale prices, while KCM founder Steve Harney points out how misleading those numbers can be, especially in today’s market.

Sales 52