Mortgage Rates Barely Move This Week: End at 2.86%
Without more homes listed for sale, mortgage money demand has evened out, leading to little week-to-week change. Last week, the 30-year FRM averaged 2.87%.
iBuyers Bounce Back After Pandemic Hiatus
It should be challenging for iBuyers in a seller’s market, but they’re paying more. It could be a business strategy: Accept lower profits to assure long-term success.
Judge Dismisses Antitrust Lawsuit, Favors NAR Over Top Agent Network
NAR’s Clear Cooperation policy placed limits on pocket listings, leading a members-only “top agents” network for non-MLS listings to file a lawsuit. The ruling questioned some aspects of Clear Cooperation, but the judge said antitrust does not give TAN a right to “hoard listings among themselves.”
FHFA’s 2022 ‘Goals’ Expand Lending to Low-Income Americans
The proposed goals expand the number of Fannie and Freddie loans that would go to low- and moderate-income families, minorities, rural areas and underserved populations.
Property Insurance Costs Too Much? 7 Ways to Reduce It
When is the lowest-cost insurer not the lowest-cost insurer? When another company actually charges less because you bundled or installed security or did something else.
New-Home Material Costs Rose Almost 20% in One Year
Lumber costs – down 30% in July but 72% higher than in Jan. – suggest prices are going down. But they aren’t. Year-to-year steel costs are up 109% and gypsum is up 16%.
Lawmakers Want FTC to Investigate Zillow Over Antitrust
Members of House and Senate antitrust subcommittees asked the Federal Trade Commission to see if Zillow’s acquisition of ShowingTime could violate U.S. antitrust laws.
New-Home Construction Slumps 7% in July
Strong housing demand will keep pushing builders to build, and the number of new permits issued – a sign of future activity – rose 2.6%. But high material costs, fewer workers and land limitations hold back growth. July home starts rose only in the South, the area that includes Fla.
Fewer Bidding Wars May Open Door for More Buyers
Buyer competition has shown some signs of easing, however two Fla. metro areas – Tampa and Orlando – remain two of the top 15 U.S. metros for bidding wars.
Homeowners’ Do-It-Yourself Frenzy May Be Waning
Home Depot’s sales are still up, but not as “up” as they were only a few months ago. One expert says lots of homeowners remodeled during lockdowns – but not as many now.