As mortgage rates to 20-year highs, home builder sentiment declined for the tenth month in a row. Similarly existing home sales fell for the eighth straight month. Further complicating the real estate market, housing inventory presents an ongoing barrier to prospective home sales activity. Despite the longstanding challenge, new construction remains slow. NAHB Survey Indicates […]
Fluctuating mortgage rates have many people wondering if it’s still a good time to consider refinancing their mortgage. Rates are higher, but does that mean the window for refinancing is closed? How can you know a good refinancing opportunity when you see it? Is it a Bad Time to Refinance a Mortgage? Though mortgage rates […]
Throughout September, the latest August home sales data reflected a strong sensitivity to mortgage rates. When rates experienced a short-lived dip in August, home sales reacted with a sudden jolt of activity. However, September 2022 closed out with mortgage rates hitting their highest levels since 2007. Thus, the real estate will be sure to compensate […]
Home buyer affordability—a measurement of the overall affordability of homes in certain areas compared to average income—is steadily improving in thirty-two states across the country. The median payment applied for by applicants decreased from $1,844 to $1,839, dropping for the third consecutive month. All of this is according to the Mortgage Bankers Association’s Purchase Applications […]
As mortgage rates continued to rise in August 2022, the Jackson Hole Economic Symposium took place. For the unacquainted, the Federal Reserve hosts this annual three-day conference, discussing the country’s economic challenges and overall direction. Unfortunately, this latest event came as the United States real estate market heads for a downturn. In the face of […]
On July 27th, 2022, Senate Majority Leader Chuck Schumer announced that the House reached an agreement pertaining to the Inflation Reduction Act of 2022. After months of contentious debates between Democrats and Republicans, the latest Act intends to lower inflationary pressures throughout the country. Furthermore, President Joe Biden signed the Act into law mid-August 2022. […]
Heading into the July 2022 real estate market, the United States continues to face timeless obstacles. As the latest inflation data shows year-over-year growth, the white-hot U.S. real estate market displays signs of stalling. Despite 2021 reflecting a surge in home sales activity, sales of existing homes just achieved their fifth month in a row […]
In response to the work-from-home movement, remote notarization in Illinois came to fruition. Along with numerous other states, these notions sidestep the face-to-face commute for the closing process. While initially inspired by the COVID-19 pandemic, remote notary laws stay in place. Now, they play a big role in the future of the title insurance industry […]
With the June 2022 real estate market, housing affordability continued its affordability crisis for potential home buyers. However, New Home Sales offer a beacon of hope with a notable gain. Existing Home Sales Fall While New Home Sales Offer Upside to June 2022 Real Estate In terms of Existing Home Sales, June 2022 real estate […]
With the recent Fed testimony, Federal Reserve Chairman Jerome Powell assured lawmakers about their plans to bring down inflation. Not only does Fed Chair Jerome Powell seek to avoid a recession, he believes the Federal Reserve has the tools to do so. Comments from the Latest Fed Testimony “[The Federal Reserve] understands the hardship high […]