Mortgage Rates Hover Near Record Lows

Mortgage Rates Hover Near Record Lows Freddie Mac | August 16, 2019 The 30-year fixed-rate mortgage continued to hover near historical lows this week, lowering borrowing costs for home buyers and refinancing homeowners. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 3.60% this week, unchanged from last week’s average. “The sound and fury of the financial markets continue to warn of an impending recession; however, the silver lining is mortgage demand reached a three-year

Mortgages Haven’t Been This Cheap Since 2016

Mortgages Haven’t Been This Cheap Since 2016 Freddie Mac | August 9, 2019 The 30-year fixed-rate mortgage averaged 3.60% this week, the lowest average since November 2016, Freddie Mac reports. “There is a tug of war in the financial markets between weaker business sentiment and consumer sentiment,” says Sam Khater, Freddie Mac’s chief economist. “Business sentiment is declining on negative trade and manufacturing headlines, but consumer sentiment remains buoyed by a strong labor market and low

The Top Delays on the Road to the Closing Table

The Top Delays on the Road to the Closing Table National Association of REALTORS® | August 7, 2019 Overall, the majority of contracts continue to be settled on time. Seventy-six percent of contracts made it to closing as scheduled from April to June, according to the REALTORS® Confidence Survey, based on responses from more than 4,000 members. Twenty percent of contracts saw a delay, while only 4% were canceled altogether. The top contract problems causing a delay of settlements in June

Greater Nashville Back to School with Rising Home Sale Numbers

Greater Nashville Back to School with Rising Home Sale Numbers Greater Nashville REALTORS® | Press Release August 7, 2019 NASHVILLE, Tenn. (August 7, 2019) – There were 4,189 home closings reported for the month of July according to figures provided by Greater Nashville REALTORS®. This figure is up 9.9 percent from the 3,812 closings reported for the same period last year. "We are excited to see that home sales continue to increase across the region," said Andrew Terrell, Greater Nashville

NAR: Home Prices Post More Gains in Second Quarter

NAR: Home Prices Post More Gains in Second Quarter National Association of REALTORS® | August 7, 2019 Home prices in the second quarter continued to rise in the majority of housing markets across the country. Ninety-one percent of 178 metros tracked saw home price gains in the second quarter, according to the latest report from the National Association of REALTORS®, released Wednesday. The national median existing single-family home price was $279,600 in the second quarter, up 4.3% from a year

Mortgage Rates Stay Flat, But That’s a Good Thing

Mortgage Rates Stay Flat, But That’s a Good Thing Freddie Mac | August 2, 2019 The 30-year fixed-rate mortgage barely budged this week, remaining low at a 3.75% average, Freddie Mac reports. “Mortgage rates have essentially stabilized over the last two months, which reflects the recovery and improvement in the economy from the malaise earlier in the year,” says Sam Khater, Freddie Mac’s chief economist. “Going forward, the combination of low mortgage rates, tight labor market, and high

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Contract Signings Point to Reversal in Home Sales Slump

Contract Signings Point to Reversal in Home Sales Slump National Association of REALTORS® | July 30, 2019 Home sales appear poised to reverse their downward trend, as contract signings in each of the four major U.S. regions rose in June, according to the National Association of REALTORS®’ latest Pending Home Sales Index. The West saw the highest increase in contract signings last month, according to NAR’s report. The index rose 2.8% to a reading of 108.3 in June. Contract signings are now up