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☆ Here’s what you should know about buying a home ahead of a likely interest rate cut
▼ + stars: | 2024-09-16 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

While the Fed doesn’t directly set mortgage rates, its actions affect borrowing costs throughout the economy. The most apparent effect: An interest rate cut could help ease the upward pressure on mortgage rates, making one piece of the homebuying equation more affordable. Most investors are betting that the Fed will cut its benchmark interest rate by just a quarter-point on Wednesday. Some financial advisers counsel to wait until you can get a mortgage rate that is a full percentage point below the rate you’re already paying, said Fairweather. “If you got a 7.5% mortgage rate, you may already be in the money to refinance,” she said.

Persons: Freddie Mac, ”, Daryl Fairweather, Redfin’s, “, it’s, Fairweather, We’re, Greg McBride, “ It’s, Leo Pareja Organizations: CNN, Federal Reserve, homebuyers, National Association of Realtors, Bankrate, eXp Realty Locations: Wells, ”

☆ The NAR settlement comes into effect today: Here’s what changing and why
▼ + stars: | 2024-08-17 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Here’s what you need to know:Two key changesHistorically, buyers were not expected to pay their real estate broker directly. That’s because Realtor commission fees — to both the buyers’ agent and the sellers’ agent — were paid by a home seller. Tiffany Hagler-Geard/Bloomberg/Getty ImagesThe second change affects the relationship between prospective home buyers and their real estate agents. A key element to these agreements is that a buyer’s agent cannot receive more compensation than what the buyer initially signed onto, even if a seller is willing to offer more. The National Association of Realtors agreed to settle litigation over commission rules for US real estate agents, clearing the way for possible changes in how Americans buy and sell homes.

Persons: CNN —, Kevin Sears, ”, —, Tanya Monestier, “, Tiffany Hagler, They’re, Norm Miller, Monestier, “ You’re, ” Leo Pareja, ” Pareja, David Ryder, ‘ let’s, University of San Diego’s Miller, Miller Organizations: CNN, National Association of Realtors, Realtors, MLS, University, Buffalo School of Law, Geard, Bloomberg, Getty, Buyers, University of San, eXp Realty Locations: Larchmont , New York, University of San Diego, Seattle , Washington, US

☆ NAR settlement set to hit real estate agents this week: Here’s how they’re preparing
▼ + stars: | 2024-08-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Starting August 17, new rules will roll out that overhaul the way Realtors get paid to help people buy and sell their homes. This could pave the way for real estate companies with alternative business models, like flat-fee and discount brokerages, to thrive. Redy, which operates nationwide, is a marketplace that allows real estate agents to bid on home listings, meaning agents could pay homesellers for the opportunity to represent them, cutting into their own commissions. “This is part of this notion of shifting how real estate is always done,” Cofini said. “Consumers don’t know this is coming,” Flyhomes’ chief strategy officer, Adam Hopson, said of the NAR changes.

Persons: Leo Pareja, Kevin Sears, ” Sears, “, Mary Schumann, ” Schumann, TD Cowen, Shelly Cofini, ” Cofini, Flyhomes, Adam Hopson, Will, Madison Mathias, Mathias, I’ve, “ I’m Organizations: CNN — Realtors, Realtors, National Association of Realtors, eXp Realty, NAR, ”, CNN Locations: theory, Minnesota, Chapin , South Carolina

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