Homeowners looking to refinance are finding savings after mortgage rates dropped again last week.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.07% from 7.17%, with points falling to 0.59 from 0.60 (including the origination fee) for loans with a 20% down payment, according to the Mortgage Bankers Association. That was the lowest level since July.“Mortgage
iPro has officially turned 11 today! And we have our loyal and hard-working members to thank along with the clients that allow us to perform your real estate transactions. There is still a lot of uncharted territory and we'll continue to strive and perform.
iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.Click here for information on becoming a salesperson.
Buyers may balk at lengthy inspection reports, but not every item is an emergency. Know what may—and may not—be cause for alarm.The results of a home inspection can make or break a home sale, particularly if buyers are unsure about the items flagged in the report. They may panic at the sight of a long laundry list of repairs.“No home is perfect,” says Adam Long, president of HomeTeam Inspection Service, which has more than 200 offices nat
Construction spending (not adjusted for inflation) totaled $2.027 trillion in October at a seasonally adjusted annual rate, up 0.6% from the upwardly revised September rate and up 11% year-over-year (y/y), the Census Bureau reported today. However, without a deflator, it is impossible to say how much of the y/y gain is in units vs. price. Private residential construction rose 1.2% for the month, with single-family homebuilding up 1.1% (
Mortgage rates keep falling after Powell tries to deflate expectations for the spring rate, as 3 new reports released this week suggest the economy is, in fact, losing steam Mortgage rates continue to retreat from 2023 highs, but homebuyer demand for purchase loans remained flat last week, as for-sale inventories are still tight in many markets and prices remain out of reach of some would-be buyers.Demand for purchase mortgages was down 0.3 perce
Local housing markets sing when the “Anti-Hero” crooner comes to town, a new study finds.There’s no bad blood between Taylor Swift and real estate. Her sold-out stadium concerts are proving to be good karma for local housing markets.Architectural Digest explores in a new study(link is external) the possible housing impact of Taylor Swift’s record-breaking Eras Tour, which has grossed $1 billion to date. And look at what you made
Borrowing costs have dropped for the fifth-straight week and are expected to go lower through the end of the year.Falling mortgage rates are bringing holiday cheer to home buyers. The 30-year fixed-rate mortgage, which has been backing away from its near-8% high in October, dropped to 7.22% this week, marking the fifth consecutive week of declines, Freddie Mac reports.“Market sentiment has significantly shifted over the last month, leading to a
Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday.The personal consumption expenditures price index, excluding food and energy prices, rose 0.2% for the month and 3.5% on a year-over-year basis, the Commerce Department reported. Both numbers aligned with the D
There were 7.5% more home sellers listing their homes in November 2023 than in November 2022, according to Realtor.com, with total inventory up as well, ending a 4-month slide Prospective homebuyers got a piece of good news during November: More people listed their homes this month than they did at the same time last year, marking the first time in well over a year that inventory has shown year-over-year improvement.According to a report&nbs
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
