Posts

The Commission lawsuit bends the future for real estate, and the consumer will pay the price

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Last week a new article came out that the Agent commission lawsuits cast long shadow over VA, FHA borrowers, but we’re pretty certain there will be modifications to that before making it all the way down to the consumer. Meanwhile, mortgage rates took a breather and continued to get EVEN better so far this week!

The Fed Paused! And did you hear about that lawsuit?

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Wow talk about 2 competing headlines last week. The Federal Reserve paused interest rate hikes and a MASSIVE lawsuit was decided last week leaving Real Estate Agent commissions in the crosshairs in the future. On both counts there is still a lot of dust to settle, but for now, check out what we think is happening and what it means to us all.

Mortgage Market Solutions & ADUs can now be SOLD SEPARATELY!

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We know that solutions may feel few and far between right now, but this week we kick off the show with two topics that could very well open up finance options for homeowners! In this episode we discuss:

  1. Scenarios that are working in the market RIGHT NOW
  2. ADUs can now be sold separately in California

and more!

Mortgage Demand Plummets as Rates Hit 8% But Homeowners Still Have Options

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Mortgage Demand Plummets as Rates Hit 8% But Homeowners Still Have Options. The mortgage crunch continues to make national headlines as the industry and consumers battle increasing interest rate environments as well as affordability in the housing sector. Despite this, homeowners who have secured a low interest rate first loan still have access to large amounts of home equity, thereby creating numerous financial options. In this episode:

  1.  The 30-year fixed mortgage rates just hit 8% for the first time since 2000 as Treasury yields soar
  2. Mortgage demand falls to the lowest level since 1995 as interest rates near 8%
  3. September home sales drop to the lowest level since the foreclosure crisis
  4. Meet the homeowners giving up 4% mortgages and opting for cash-out refis

Industry Groups Pressure the Fed While Consumers Blame Rates

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The Mortgage Bankers Association, National Association of Realtors, and National Association of Home Builders called on the Fed to provide market certainty about its rate path. Ongoing uncertainty has exacerbated housing affordability and even consumer sentiment is starting to take its toll…but!…. BUT there are STILL SOLUTIONS in the market for homeowners and your home equity could be the hero you’ve been looking for! Today’s topics are:

  1. MBA, NAR, NAHB call on the Fed to provide market certainty about its rate pat
  2. Fed officials see ‘restrictive’ policy staying in place until inflation eases, minutes show
  3. Consumers point to mortgage rates, not home prices, as key barrier to affordability
  4. Market Solutions Discussion: HELOC, HE-LOAN, Cash out for Debt consolidation, address deferred maintenance, build an ADU, Convert your garage, remodel your home, or add square footage.

Fannie Mae Economist Weighs In, and Affordability is Crushing Homebuyer Expectations

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As things get tighter in the real estate and mortgage markets more industry leaders are raising their voices about the impacts being felt across the nation. Home prices have remained elevated regardless of mortgage rates continuing their rise which is now causing an affordability crisis not seen in 38 years! Today’s topics are:

  1. Fannie Mae’s chief economist on housing market outlook
  2. Why are existing home prices up year over year?
  3. Changing homebuyer expectations are slowing the housing market
  4. DataDigest: Today’s homebuyers are seeking affordability not found in the West

Insurance Companies Are Leaving California

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You have probably heard that insurance carriers are leaving California. We know that this may impact some of you now or in the future.

In this episode:

  1. Why insurance companies are pulling out of California and Florida, and how to fix some of the underlying problems
  2. Limited home insurance options in California as major carriers pull back
  3. California lawmakers failed to fix the insurance market. So what comes next?
  4. Senators take up looming insurance crisis as policy issuers flee Florida and California.

Housing Market Predictions: Can Unmarried Buyers Help Save the Market?

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The Federal Reserve decided to pause rate hikes, but was it the right decision? And what does this mean for the future or mortgage rates, home sales, jobs, and the economy at large? In this episode:

  1. The Fed pauses its rate hikes for now, will it last?
  2. Labor and inflation will help mortgage rates in 2024
  3. US Home Price Insights – September 2023
  4. Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher mortgage rates

Housing Market Predictions: Can Unmarried Buyers Help Save the Market?

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The headlines are on the move in real estate and mortgage! Every week new data surprises us with new ways people are getting creative to achieve their homeownership goals! This week we breakdown:

  • More unmarried couples are buying homes together. What to know before you do.
  • Mortgage demand drops to 27-year low as interest rates pull back.
  • Mortgage rate tipping point: Homeowners saw roughly 5% is the magic number to move.
  • Housing market predictions: The Forecast for the next 5 years

Home Prices Flattened While Mortgage Rates Peaked, but Are They Related?

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Recent reports and research reveal we’re experiencing some anomalies in housing and real estate. So today we talked about these recent hot topics to try and make sense of everything that changing:

  • Mortgage payments increased 17% annually to $2,162 in July 2023
  • Did we reach the peak for mortgage rates this year?
  • US CoreLogic S&P Case-Shiller Index Was Even Year Over Year in June, Signaling a Market Shift
  • Single-family construction slows across the country in Q2