John Montgomery

Aug. 4, 2020

Can rates go below 2%?

 

Low housing inventory continues to drive higher home prices, with the average median home price climbing to a new high in July: $349,000. That’s 8.5% higher than last July, but when you consider the drop in housing inventory during the pandemic, it makes sense. In the nation’s ...

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July 29, 2020

Fed projected rates, pre and post Covid

 

Mortgage rates fell to an all-time low on Thursday, according to the daily average tracked by Optimal Blue. The direction of interest rates this week will have a lot to do with what Federal Reserve Chairman Jerome Powell says at the end of the central bank’s policymaking meeting on ...

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July 22, 2020

Mortgage rates forecast for August 2020

Mortgage rates forecast for August 2020

Mortgage rates have hit five new all-time lows in less than three months.

But don’t expect the winning streak to continue.

Our prediction: Mortgage rates will bottom out in August, then rise in anticipation of the 2020 U.S. election.

Want to capture the ...

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July 22, 2020

A platform for expansion: @properties’ take on in-house development

 

 

In the big brand vs. boutique brokerage decision, most agents assume one of the main trade-offs is going to be between a relatively impressive suite of tools and support at the major companies versus a scaled-down but more nimble approach to technology at the smaller ones. But @properties ...

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July 15, 2020

What Drives Mortgage Rates/Trends

Keep up with current mortgage rates at HousingWire’s Mortgage Rates Center. Rates are updated daily and include data from Freddie Mac and Optimal Blue.

Optimal Blue data is based on actual rate lock transactions and therefore includes borrowers across the credit spectrum. The Freddie Mac Primary Mortgage Market Survey (PMMS ...

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July 8, 2020

Is now a good time to buy?

Over 60% of surveyed Americans say yes

That's a 9-point climb in Fannie Mae’s HPSI measurement

 

 

Fannie Mae’s Home Purchase Sentiment Index, a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, increased nine points in June to 76.5. Although the HPSI is down ...

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July 1, 2020

As the Fed's Powell sounds alarms, mortgage rates tank below 3%

 

More gloomy talk from Federal Reserve Chairman Jerome Powell has been greeted by another historic drop in mortgage rates, which have returned to an all-time low under 3% in a daily survey.

In two days of testimony to Congress this week — including an appearance on Tuesday in which ...

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June 24, 2020

Chicagoland contract activity and our recovery

 

 

A year-over-year comparison of new contracts is an encouraging sign for the Chicagoland real estate market. After bottoming out in mid-April, contract activity in the entire Chicagoland region is on the upswing based on @properties data. In fact, by Memorial Day, sales activity was exceeding 2019 levels.

  ...

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June 17, 2020

Housing inventory and Mortgage rates

 

Demand for houses continues to skyrocket, according to a report from Redfin CEO Glenn Kelman. Seasonally adjusted demand for houses during the week of June 1 through June 7 was 25% above pre-pandemic levels.

Kelman said that bidding wars have caused listings to move quickly, and sales prices are ...

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June 10, 2020

Here's evidence of a V-shaped recovery

Today had some promising data for the housing market

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