Remodeling Market Sentiment Holds Steady in Second Quarter
July 18 2024 | |
“Although some remodelers are reporting a slowdown, most continue to see solid demand for remodeling projects, subject to normal seasonal fluctuations,” said NAHB Remodelers Chair Mike Pressgrove, a remodeler from Topeka, Kan. “In some markets, elevated interest rates have caused some customers to purchase improvement projects with cash rather than loans. However, this option is only available for wealthier home owners.”
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Mortgage Applications Increase in Latest MBA Weekly Survey
July 17 2024 | |
“Mortgage rates declined last week, as recent signs of cooling inflation and the increased likelihood of Fed rate cuts later this year pulled them lower. The 30-year fixed rate declined to 6.87 percent, the lowest rate since March 2024,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
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High Mortgage Rates Continue to Hold Back Builder Confidence
July 16 2024 | |
“While buyers appear to be waiting for lower interest rates, the six-month sales expectation for builders moved higher, indicating that builders expect mortgage rates to edge lower later this year as inflation data are showing signs of easing,” said NAHB Chairman Carl Harris, a custom home builder from Wichita, Kan.
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MBA, Broad Coalition of Housing Groups Cautions Against Proposed Rent Cap
July 16 2024 | |
As former President Obama’s chair of the Council of Economic Advisers, Jason Furman, said to the Washington Post, “Rent control has been about as disgraced as any economic policy in the tool kit. The idea we’d be reviving and expanding it will ultimately make our housing supply problems worse, not better.”
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New Hawaii Law Will Protect Homebuyers from Predatory Contracts
July 15 2024 | |
“The property rights of American homebuyers must be protected,” said ALTA Vice President of Government Affairs Elizabeth Blosser. “We have to ensure that there are no unreasonable restraints on a homebuyer’s future ability to sell or refinance their property due to unwarranted transactional costs.”
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NAHB Urges Congress to Address Housing Affordability Crisis
July 10 2024 | |
The National Association of Home Builders called on Congress today to support policies that will allow home builders to construct more homes and apartments to help ease the nation’s housing affordability crisis and provide better, more affordable housing opportunities for all American households.
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Mortgage Applications Decrease in Latest MBA Weekly Survey
July 10 2024 | |
“The recent uptick in mortgage rates has slowed demand. Mortgage applications were essentially flat last week, as mortgage rates remained around 7 percent,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase activity picked up slightly, driven primarily by increases in FHA and VA applications."
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June Jobs Report Commentary from MBA's Mike Fratantoni
July 05 2024 | |
Similar to May, the headline gain in nonfarm payroll employment data in June does not tell the entire story. While the headline gain showed an increase of 206,000 jobs, more than one-third of that was a gain in government employment, largely a function of increases in state and local jobs.
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Mortgage Applications Decrease in Latest MBA Weekly Survey
July 03 2024 | |
“Mortgage rates moved higher last week, crossing the 7 percent mark, even as the latest inflation data has kept market expectations alive for a rate cut from the Fed later this year,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “Purchase applications decreased the final full week of June, even as both new and existing inventories have increased over the past few months."
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NAR Responds to Consumer Federation of America, Defends Consumer Choice in the Settlement
July 02 2024 | |
Consumer choice is paramount, particularly when it comes to determining the nature and cost of professional representation in a real estate transaction. It is deeply concerning that the Consumer Federation of America has taken a position on listing agreements and offers of compensation that would harm consumers by leaving them with less choice than ever before.
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Chief Advocacy Officer Shannon McGahn Recognized as a 2024 Women of Influence by HousingWire
July 01 2024 | |
“Shannon is relentless in her pursuit to ensure NAR is on the leading edge of advocacy,” said NAR President Kevin Sears. “She’s also exceptionally well suited to work in a divided Washington because of the strong relationships she continues to maintain with both political parties, and she’s expanded NAR’s lobbying team to ensure Realtors® are reaching every congressional office on both sides of the aisle.”
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