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Mortgage Rates Drop Below 5%

Thu, 2022-08-04 14:02

The 30-year fixed-rate mortgage (FRM) averaged 4.99%, dropping below 5% for the first time since April, according to the Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday.

Key findings:

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Home Showings Drop Again in June, But Remain Above Pre-Pandemic Levels

Thu, 2022-08-04 14:01

The days of prospective buyers showing up in droves for home viewings, a phenomenon seen across the country during the pandemic, may be over.

Home showings declined again year-over-year in June, according to recent data from ShowingTime’s Showing Index®, a monthly data tracker, which will be welcome news to house hunters concerned about fierce competition. But, even though showings were down 18.7% from last year, activity was still significantly higher than pre-pandemic levels.

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Almost Half of Homeowners Are Now Equity-Rich

Thu, 2022-08-04 14:00

Elevated mortgage rates and climbing inflation have not dampened the steady rise of homeowner equity, buoyed by soaring home values due, in part, to a historic housing supply shortage.

Forty-eight percent of mortgaged residential properties in the United States were considered equity-rich, meaning the owner has at least 50% equity, in the second quarter of 2022, according to newly released data from ATTOM, a curator of real estate data.

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Keller Williams Q2 revenue rises 1% to $146.8B amid inventory woes

Thu, 2022-08-04 13:59

Market headwinds clobbered Keller Williams transaction volume for the third consecutive quarter, according to earnings Thursday. However, sales volume and agent count remained steady.

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Laying off brokerage staff amid a downturn? Think twice

Thu, 2022-08-04 13:06

There are ways that brokerages can cut costs during a market slowdown without risking its agent morale, according to brokers at Inman Connect Las Vegas on Thursday.

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Virtual brokerage Radius launches mortgage arm in California

Thu, 2022-08-04 12:59

The company's move into mortgage lending comes on the heels of a $14 million Series A round led by Trulia co-founder Pete Flint's NFX Ventures.

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Keller Williams President: Real estate has become consumer centric

Thu, 2022-08-04 12:33

Alongside RE/MAX President and CEO Nick Bailey, Keller Williams President Marc King also hinted Thursday at Inman Connect Las Vegas that KW may not be in a rush to begin selling shares to the public.

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