National Real Estate News

May 27, 2020

Consumer Confidence Bouncing Back after Pandemic Low

Things are getting better, at least in consumers’ minds. The May confidence index rose to 86.7 from April’s 85.7, and while the component for current conditions fell 1.9 points, future expectations rose 2.6 points. According to the report, the “free fall stopped in May.”

NEW YORK ...

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May 27, 2020

New-Home Sales Post Surprising Gain in April

A 0.6% increase in new-home sales isn’t much, but it suggests that a healthy number of potential buyers is still ready to move forward on their plan to buy a home.

BALTIMORE (AP) – U.S. new home sales ticked up 0.6% in April, a surprising gain amid ...

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May 26, 2020

U.S. Long-Term Mortgage Rates Ease; 30-Year at 3.24%

It’s the 4th straight week that the 30-year home loan stayed below 3.30%; the average rate on the 15-year fixed-rate mortgage slipped to 2.70%.

WASHINGTON (AP) – Long-term U.S. mortgage rates eased this week in a housing market battered by the shutdown spurred by the coronavirus pandemic ...

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May 22, 2020

Virtual Tours, Patience Can Pay Off for Homebuyers Now

Despite the pandemic, homebuyers are continuing their home search by options like online open houses where they can Zoom or FaceTime with Realtors in real time.

TORONTO – Thomas Rosenthal has been checking online property listings every day while under lockdown.

The 30-year old University of Toronto master's student ...

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May 18, 2020

NAR: Watch for Home Sales Rebound as Economy Opens Up

There are still many unknowns about COVID-19, but with that in mind, NAR Chief Economist Lawrence Yun is cautiously optimistic about where the economy is heading, and he also sees positive indicators in the residential real estate market.

WASHINGTON – First a caveat: There are still many unknowns about COVID-19 ...

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May 15, 2020

Federal Reserve Won’t Lower Rates, Suggests Congress Do More

Fed Chair Powell says there’s no plan to lower interest rates below zero, but he urged lawmakers to provide more fiscal relief soon due to great economic uncertainty.

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak ...

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May 8, 2020

Why Home Prices May Be Rising During the Pandemic

Many sellers are reluctant to cut prices. Realtor.com: About 4% of sellers cut their prices in the week ended April 25, down from 5.7% in the same week last year.
Gloved hands testing liquids for coronavirus
THE LATEST INFORMATION ON CORONAVIRUS FOR REALTORS IN FLORIDA
Florida Realtors is monitoring everything regarding how the COVID-19 pandemic ...
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May 1, 2020

Mortgage Rates Hit All-Time Low – 3.23%

The pandemic-slowed economy pushed the average 30-year mortgage rate to its lowest point in at least 50 years – since Freddie Mac started tracking rates in 1971.

WASHINGTON – The pandemic-slowed U.S. economy pushed the average 30-year mortgage rate to its lowest point in at least 50 years, according ...

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April 29, 2020

Waiting for Price Cuts Due to the Pandemic? Keep Waiting

NAR’s survey found the 3 out of 4 Realtors say their sellers see the pandemic as a temporary problem that will pass – and they’re not panicking and discounting asking prices.

WASHINGTON – Looking for a good deal on a new home? Keep looking.

According to a new survey from ...

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April 14, 2020

Mortgage Credit Availability Decreased in March

The pandemic caused a number of lenders to tighten standards as they face the unknown, and jumbo loans – those retained by banks after closing – took the biggest hit.

WASHINGTON – Mortgage credit availability decreased in March according to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI ...

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