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☆ Inside Realtors' Fight for Control of America's for-Sale Home Listings
▼ + stars: | 2024-10-31 | by ( James Rodriguez | ) www.businessinsider.com time to read: +17 min

Agents might be emboldened to share listings among private networks of in-the-know brokers rather than market them to everyone. And if the goal is a transparent market that prioritizes consumers, the clear-cooperation policy is a flawed tool. Redfin estimated that in the second quarter of 2019, about 1.7% of listings, or some 18,000 homes, were likely pocketed. In a hot market, it's easier for brokers to market a home off the databases and still get it sold. What has changed since the rule went into effect is brokerages' eagerness to control access to home listings.

Persons: Smart, —, they'll, Brian Boero, Goliath, Davids, MLSes, doesn't, weren't, Joe Schmo, Saul Klein, Howard Hanna's, Howard Hanna IV, Robert Reffkin, Mauricio Umansky, Redfin, Glenn Kelman, Kelman, haven't, Victor Lund, There's, Buckle Organizations: MLS, National Association of Realtors, NAR, Coldwell, Network, San Diego, Compass, Service, of Justice

☆ How the cost of housing is expected to change under Trump or Harris
▼ + stars: | 2024-10-30 | by ( Allie Kelly | John L. Dorman | ) www.businessinsider.com time to read: +7 min

Detailed below is what Harris and Trump have proposed in order to address these worries. Vice President Kamala Harris and former President Donald Trump have both pledged to address high prices by boosting the supply of homes. Related storiesThe Democratic candidate also said she plans to expand the existing low-income housing tax credit, which incentivizes the rehabilitation or building of housing targeted at lower-income households. As president, Trump proposed major cuts to the federal Department of Housing and Urban Development's budget, including slashing housing assistance and community development aid. AdvertisementWhile in office in 2017, Trump proposed a budget for the 2018 fiscal year that would have significantly cut rural housing subsidies.

Persons: Harris, Trump, —, Kamala Harris, Donald Trump, Daryl Fairweather, Redfin, Fairweather, Jessica Lautz, multifamily Organizations: Service, Business, Democratic, Peterson Institute for International Economics, Builders, of Housing, Urban, National Association of Realtors, Democratic Party Locations: America

☆ Pending home sales took an unexpected leap higher last month, but rates are now much higher
▼ + stars: | 2024-10-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

These so-called "pending" sales were at the highest level since March and 2.6% higher than September of last year. Since pending sales are based on signed contracts, representing people out shopping during the month, it is the most current indicator of buyer demand. "Further gains are expected if the economy continues to add jobs, inventory levels grow, and mortgage rates hold steady." Regionally pending sales were higher year over year in the Northeast and West and flat in the Midwest and South. The levels of mortgage demand are still historically low, and sales, while higher, are as well.

Persons: Lawrence Yun, Selma Hepp Organizations: National Association of Realtors, Analysts, Mortgage News, Realtors, Mortgage, Association Locations: Northeast, West, Midwest, homebuyers

☆ This is ‘the biggest difference’ in today’s housing market, according to the Property Brothers
▼ + stars: | 2024-10-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

watch nowMany factors make it hard to buy a home today, but the one that makes "the biggest difference" in today's market is the housing shortage, Property Brother Drew Scott said at CNBC's Your Money event on Thursday. "I don't think people realize this shortage of housing that we have affects everything," added his brother Jonathan Scott. Why there's a housing shortageAs of mid-2023, there's a housing shortage of 4 million homes, according to the National Association of Realtors. While there have been recent signs of improvement for housing supply, it's not enough to solve the underlying constraint in the U.S. housing market. 'It's ok if you wait a few years'The Property Brothers Drew Scott (L) and Jonathan Scott.

Persons: Drew Scott, Jonathan Scott, Jonathan, Jason Davis Organizations: Census, Federal Reserve, CNBC, National Association of Realtors, Construction, Getty Locations: U.S

☆ Here’s why mortgage rates are rising after the Fed’s rate cut
▼ + stars: | 2024-10-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Expectations of a Fed rate cut caused mortgage rates to drop to a two-year low of 6.08% in late September, but it failed to spur homebuying activity. Every percentage point on a mortgage rate makes a big difference for that monthly payment. Here’s what’s driving the recent upswing in mortgage rates. Mortgage rates track the 10-year US Treasury yield, which was expected to fall in anticipation of further rate cuts. “I am clearly not going to own any fixed income.”The government’s fiscal situation might already be having an impact on mortgage rates.

Persons: Freddie Mac, pare, what’s, ” Sam Khater, Freddie Mac’s, Robyn Beck, Donald Trump, Kamala Harris, Harris, “ We’re, Paul Tudor Jones, “, ” Lawrence Yun, Kimberly Bradley, Zach, Kimberly, “ I’ve, ” Kimberly, ” Ken Lowrey, Ken Lowrey, “ homeownership, ”, Lowrey Organizations: Washington CNN, Federal Reserve, National Association of Realtors, Mortgage, Association, Treasury, Getty, Federal Budget, Trump, CNBC, US Postal Service Locations: AFP, Manteo , North Carolina, Charleston , South Carolina

☆ 4 ways to make your home down payment savings grow, according to top-ranked advisers
▼ + stars: | 2024-10-23 | by ( Ana Teresa Solá | Ana Teresa Solá Is A Personal Finance Reporter For Cnbc. | ) www.nbcnews.com time to read: +6 min

High-yield savings accountsA high-yield savings account earns a higher-than-average interest rate compared with traditional savings accounts, helping your money grow faster. “High-yield savings accounts [are] great if you’re going to be buying in the next year,” Williams said. Money market fundsA money market fund generally has a slightly higher yield than a HYSA, said Dennehy. Some of the highest-yielding retail money market funds are nearly 5% as of Oct. 23, according to Crane Data. Still, money market funds are considered low risk and are intended not to lose value, according to Vanguard.

Persons: ”, Ryan Dennehy, it’s, Shaun Williams, Dennehy, there’s, Jeffrey Hanson, “, ” Williams Organizations: California Financial Advisors, CNBC, Census, Federal Reserve, Paragon Capital Management, National Association of Realtors, PMI, Mortgage, Treasury, U.S ., Traphagen Financial, Federal Deposit Insurance Corp, Vanguard, Securities Investor Protection Corp Locations: California, San Ramon , California, Denver, Oradell , New Jersey, Denver , Colorado

Sales fell in three out of four U.S. regions, with just the West region seeing a gain. Inventory rose 1.5% month to month to 1.39 million homes for sale at the end of September. That represents a 4.3-month supply at the current sales pace. Distressed property sales accounted for only 2% of all transactions in September.”The pressure of still low inventory continues to push prices higher. First-time buyers pulled back again, making up just 26% of September sales.

Persons: ”, Lawrence Yun, ” Yun, Cash, Yun Organizations: National Association of Realtors, Homes Locations: U.S

☆ Existing-home sales hit a 14-year low as homebuyers hold out for lower rates that may not come
▼ + stars: | 2024-10-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Existing-home sales dropped by 1% last month, reaching their lowest level since October 2010. Homebuyers stayed on the sidelines in anticipation of lower mortgage rates. AdvertisementUS existing-home sales dropped to a nearly 14-year low in September as prospective homebuyers held back in anticipation of lower mortgage rates. AdvertisementAccording to Mortgage News Daily, the average 30-year fixed mortgage rate has climbed by 70 basis points since then, to 6.85% from 6.15%. Related storiesIf this trend continues, those prospective homebuyers holding out for lower mortgage rates will be waiting a while.

Persons: Homebuyers, —, Redfin Organizations: Service, National Association of Realtors, Federal Reserve, Mortgage News

☆ Do real estate agents have to disclose if someone died in a house? Here's how to find out
▼ + stars: | 2024-10-21 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

Harrison Beacher real estate agent and managing partner at Coalition Properties Group in Washington, D.C. States such as Georgia do not require real estate agents or sellers to disclose upfront if the home was the site of a death. Nearly three-quarters, 72%, of potential homebuyers said they would buy a "haunted" house for a lower price, according to a new report by Real Estate Witch, a data site owned by Clever Real Estate. In some states, real estate agents need to provide truthful information upon a buyer's request, or at the very least, point you toward the right direction to find out. Besides the real estate agent, neighbors can give you first-hand experience of the area, as well as information about the previous homeowners.

Persons: Matt Champlin, Harrison Beacher, Zers, I'm, homebuyers, Daryl Fairweather, Fairweather, Beacher, Leno, Rosemary LaBianca, Charles Manson's, Zak Bagans, Connie Vavra, Theresa Payton Organizations: National Association of Realtors, NAR, Coalition Properties Group, Washington , D.C, Finance, Real, White House Locations: Washington ,, California, Alaska, Dakota, New York, Georgia, Elgin , Illinois

☆ California's economic growth is slipping behind Texas as the Lone Star state draws corporate HQs and people
▼ + stars: | 2024-10-17 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Texas' economy is growing faster than California's as it woos big companies and new residents. But some Texas residents are feeling increasingly fed up and priced out of the state. That figure is even stronger for the fourth quarter of 2023, which saw Texas' GDP grow at an annual rate of 5% — a jump that Texas Gov. Its $3.9 trillion GDP accounts for 14% of the national GDP, according to the report. Some Texas residents are less happyAs Texas' economy soars, some residents are feeling increasingly fed up and priced out.

Persons: —, Greg Abbott, California's, Tesla, Charles Schwab, Abbott, Elon Musk, CBRE, Jennifer Sor, Austin Organizations: Service, Lone Star, Public, Institute of California, Public Policy Institute, Texas Gov, Bureau, Oracle, State for, Chevron, Gov, Fortune, Texas, Nvidia, Golden State, Bureau of Labor Statistics, Texas realtors, BI Locations: Texas, While California, California, , Texas, State for Texas, Palo Alto , California, Austin, Dallas, Fort Worth, Arlington

☆ 18 cities with reasonably priced homes that will be million-dollar markets in the next decade
▼ + stars: | 2024-10-15 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Home prices have soared in the last decade, so buyers get less for their money than they once did. Here are 18 markets with reasonably priced homes that are set for strong price growth. In fact, in some of the nation's competitive markets, $1 million is nothing more than the price of admission to home ownership. Below are 18 cities with homes that cost $633,150 or less in Q2 that are set to be million-dollar markets by the end of 2035, sorted by which will reach the $1 million threshold the fastest. Along with each reasonably priced real-estate market is its median home price and projections for the years ahead, as well as the home price growth rate from 2014 to 2024 that it's based on.

Persons: —, Zoocasa's Mackenzie Scibetta, Scibetta Organizations: Service, National Association of Realtors, Golden State, Business Locations: California, Los Angeles, San Francisco, Golden, San Jose, San Francisco's Bay

☆ A self-insured landlord in Hurricane Milton's path is still recovering after Helene but isn't evacuating to stay nearby and help his properties
▼ + stars: | 2024-10-09 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

AdvertisementKevin Stuteville, 45, is prepping his St. Pete Beach, Florida, home for a second hurricane, Milton, after Helene wreaked havoc just days before. St. Pete Beach is a barrier island about nine miles from downtown St. Petersburg. According to FEMA, the entire city of St. Pete Beach is a within a flood zone. Advertisement"I'm not evacuating out of St. Petersburg — I just can't," he said. Are you a landlord with properties affected by Hurricane Helene or Milton, and are open to sharing your story?

Persons: Helene, Kevin Stuteville, he's, —, Pete, Stuteville, Pete Beach, Florida who've, That's, I've, it's, Pete Beach Stuteville, Petersburg —, we've, Hurricane Helene, Milton, Jordan Pandy Organizations: Service, Business, FEMA, Stuteville, realtors, Consumer Federation of America, Milton Locations: Florida, Pete Beach , Florida, Milton, St, St . Petersburg, Tampa, COVID, Petersburg, Alabama, Jacksonville

☆ Homebuyers Have Hope With Lower Mortgage Rates, More Houses Available
▼ + stars: | 2024-10-09 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Wild swings in mortgage rates discouraged almost everyone from venturing out into the market. As I wrote earlier this year, a gummed-up housing market — the Ice Age I was talking about — is good for nobody. When mortgage rates hit multidecade lows during the pandemic, millions of people were able to snag or refinance their way into cheaper monthly costs. That'd be within spitting distance of what the experts at John Burns Research and Consulting, a housing-research firm, call the "magic mortgage rate." In other words, trying to predict mortgage rates — and buying or selling a home accordingly — is a fool's errand.

Persons: Green, that's, Skylar Olsen, everyone's, it's, there's, Fannie Mae, John Burns, they'd, Ralph McLaughlin, Olsen, Lawrence Yun, Altos, Mike Simonsen, Chen Zhao, Zhao, We're, Mark Palim, Palim Organizations: Federal Housing Finance Agency, Federal Reserve, John, John Burns Research, Consulting, National Association of Realtors, Altos Research, Builders, Sun Locations: Sun Belt, Midwest

☆ What these homebuyers and owners told us an interest rate cut means to them
▼ + stars: | 2024-10-07 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

Last month, the Federal Reserve cut its benchmark interest rate by half a percentage point and signaled that more cuts are coming. He hopes interest rate cuts will increase his buying power. Mortgage rates have steadily fallen in anticipation of further interest rate cuts from the Federal Reserve. Mortgage rates have steadily fallen in anticipation of further interest rate cuts from the Fed, with the average 30-year fixed mortgage rate dropping to 6.12% in the week ended October 3, according to Freddie Mac. “Even a decent interest rate today far exceeds what we’ve been planning and budgeting on since we bought this home,” said Tony, who said his interest rate was 3.75%.

Persons: Robert Galvez, ”, Galvez, “, ” Galvez, Kamala Harris ’, homebuyers, Brandon Bell, Tony, Freddie Mac, it’s, Safiya Reid, Nico Williams, Reid, Nico Williams “ I’m, ” Reid, she’s Organizations: CNN, Federal Reserve, National Association of Realtors, Federal Housing Administration, NACA Locations: New Hampshire, Atlanta, Okinawa, Japan

☆ Falling home prices and fed-up residents show the Texas housing boom is slowing
▼ + stars: | 2024-10-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

The Texas housing market has cooled after a frenzy of activity during the pandemic. The shift in attitudes is an indicator for the state's housing market, which boomed during the pandemic. Median home prices in Texas have fallen around 7% from their highs in mid-2022, according to data from Redfin. The decline is an outlier compared to the broader US housing market, which is still prices hovering around record highs. But those issues are minor relative to things like economic growth and housing affordability, Fairweather says, which she described as two of the biggest factors that could determine if the Texas housing market picks back up.

Persons: Austin, —, Peter Hoholick, Roe, Wade, Hoholick, it's, James Willoughby, Willoughby, he's, Redfin, William Wheeler, Price, Daryl Fairweather, " Fairweather, Fairweather, they're, Samuel Cobb, couldn't, Cobb, hasn't, We're Organizations: Lone Star, Service, Texas —, Lone Star State, realtors, Texas, Census Bureau, . Texas realtors, Bureau of Labor Statistics, BI Locations: Texas, Austin, California, Dallas, Amarillo, Florida , Texas, LendingTree, Fort Worth, Arlington, East Texas

☆ Invasion of the dogs: How surging canine ownership is reshaping cities and businesses
▼ + stars: | 2024-10-05 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +14 min

The Dog Bar — a sprawling dog venue in Saint Petersburg, Florida —has had at least six (human) proposals, and one wedding. AdvertisementVirtually all US pet owners now say their furry companions are part of their family — up from 86% of dog owners and 78% of cat owners in 2006. "The dog today is not the dog of 10 years ago," Bobby Boivin, the co-owner of Boo's Dog Bar in Sarasota, Florida, said. And so we do that once or twice a year at Dog Bar." After adopting two puppies, he fell in love with a dog bar in his neighborhood.

Persons: —, Saint Petersburg , Florida —, It's, Kendal Kulp, Bobby Boivin, Stephanie Marble, Marble, Kyle Cissel, aren't, Cissel, Tara Downs, she's, Fred Metzler, Metzler, Luke Silverman, Stephanie Chez, Silverman, Kevin Knutson, Knutson, Kulp, they'd, That's, that's Organizations: Service, National Association of Realtors, Wall Street, American Pet Products Association, IKEA Locations: Saint Petersburg , Florida, Asheville , North Carolina, Sarasota , Florida, Florida, Santa, Washington, DC, Colorado, St . Petersburg , Florida, Sephora, Minnesota, Wagbar

☆ Where to find the 'Love Is Blind' season 7 cast on Instagram
▼ + stars: | 2024-10-01 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +1 min

"Love Is Blind" season seven premieres Wednesday on Netflix. The season features singles in their 20s and 30s based in the Washington, D.C. area. Meet the season seven cast and find out where to follow them on Instagram. Go to newsletter preferences Thanks for signing up! The seventh season of the dating "social experiment" series features a cast of young adults from the Washington, D.C. area.

Persons: —, it's Organizations: Netflix, Service, estheticians, realtors Locations: Washington, D.C

☆ Real estate fees settlement created 'a new competitive ballgame,’ expert says. Here's what buyers, sellers need to know
▼ + stars: | 2024-10-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

New rules on buying and selling homes are in play, now that a settlement from a class-action lawsuit has taken effect. At the time of listing a property, the home seller negotiated with the listing agent what the compensation would be for a buyer's agent, which appeared on the MLS. "Now, the buyer chooses how much the buyer's agent makes, the sellers choose how much the seller's agents make," Glenn Kelman, CEO of online real estate brokerage firm Redfin, told CNBC. Any confusion around the new practices among agents and consumers will likely be temporary, said Kerry Melcher, head of real estate at Opendoor. "Real estate agents are good at moving the market," she said.

Persons: brokerages, TikTok It's, Glenn Kelman, Kerry Melcher Organizations: National Association of Realtors, MLS, Finance, CNBC Locations: U.S, Opendoor

☆ A new report from Redfin shows how stuck the housing market really is
▼ + stars: | 2024-09-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

A rate cut by the Federal Reserve this month has fueled hopes that the interest rate-sensitive housing market will soon experience a fresh jolt. “What this data tells us is that the housing market in 2024 has been really frozen,” said Chen Zhao, Redfin’s economic research lead. Zhao said a market where 30 to 40 of every 1,000 homes changed hands would signify a healthier housing landscape. “That very low inventory on the market was one of the primary drivers of there being so little turnover.”A shortage of new home construction also contributed to America’s sluggish housing market. “Getting to a healthy housing market is very hard from this point,” Zhao said.

Persons: ”, Chen Zhao, “, Zhao, Redfin, —, Jeremiah Vancans, Vancans, ’, Patrick Chamberlin, Chamberlin, Freddie Mac, it’s, ” Zhao, we’ve Organizations: CNN, Federal Reserve, California ., “, Boston, Consumer Financial Protection Bureau, National Association of Realtors Locations: —, Redfin, California, California . Los Angeles, Los Angeles, Austin , Texas, The Texas, Sun Belt, New York City, Phoenix

See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 5.80%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.

Persons: they've, Lawrence Yun, Freddie Mac, it's, Fannie Mae Organizations: Federal, National Association of Realtors, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government

☆ We may have finally pulled ourselves out of our economic funk
▼ + stars: | 2024-09-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

After two years of the double pain of inflation and high interest rates, those things are normalizing. Sure, jobs were plentiful and the economy was growing, but the combination of high prices and high interest rates felt demoralizing. It’s hard to overstate how much interest rates can change the economic mood, Brendan Duke, a senior director for economic policy at the Center for American Progress, told me. And while both Vice President Kamala Harris and former President Donald Trump have proposed ways to increase the housing supply, the process will take years. “There are economic trends like falling interest rates, and there are policies like making an investment in housing supply that can move the needle,” Duke says.

Persons: CNN Business ’, New York CNN —, Matt Phillips, Dow, That’d, Brendan Duke, ‘ it’s, ’ ”, that’s, Kamala Harris, Donald Trump, It’s, ” Duke, they’re Organizations: CNN Business, New York CNN, Dow, Wall, Center for American Progress, National Association of Realtors Locations: New York, Canada, Australia, New Zealand

☆ It will take more than just a drop in interest rates to save the housing market
▼ + stars: | 2024-09-23 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

But while lower mortgage rates may translate to more buying power for homebuyers, America’s housing market woes aren’t likely to be solved solely by rate cuts. But Enterprise Community Partners, the nonprofit where Donovan currently serves as CEO, estimates that the US needs 7 million new units in order to stabilize the housing market. “There are a lot of factors that have affected the housing supply and these are complicated issues to solve. “We’re not expecting mortgage rates to fall that much further, and we still think that the mortgage rate ‘lock-in’ effect will still be there,” Dougherty said. “Things will probably pick up as rates come down, but we’re not looking for a high-octane rebound,” Dougherty said of the housing market.

Persons: they’d, aren’t, ’, ”, Shaun Donovan, Kamala Harris, Donald Trump, ” Donovan, Harris, Trump, Donovan, Jerome Powell’s, Freddie Mac, Charles Dougherty, That’s, “ We’re, ” Dougherty, ” Powell, that’s, Dougherty, “ It’s, ” Ryan McLennan Organizations: CNN, Housing, Urban Development, National Association of Realtors, Partners, Federal, Fed, National Association of Home Builders, homebuilders, Consumer Financial Locations: America, Wells Fargo, Houston, homebuying

“If we’re going to put up affordable housing, we don’t just want to house one family. We want to house five or six or eight or 25 families,” said Minneapolis Mayor Jacob Frey, who has overseen the Minneapolis 2040 plan. Trump campaign national press secretary Karoline Leavitt blamed the higher housing costs on the current administration’s policies, as well as an “unsustainable invasion of illegal aliens.” The campaign broadly said Trump’s housing plan involves freeing up federal land for housing and cutting regulations. Walz, whom Frey said was “committed to the mission” on affordable housing, signed the measure into law in May. We also need to have more active state, local and federal government policies that look to support the housing market.”

Persons: ”, Minneapolis Mayor Jacob Frey, Ben Brewer, Donald Trump, Kamala Harris, Harris, Tim Walz, Karoline Leavitt, It’s, Frey, Hennepin, Ryan Allen, “, ” Allen, Cody Fischer, ” Fischer, ” Jeremy Wieland, Wieland, didn’t, it’s, ” Wieland, Fischer, ’, Walz, University of Minnesota’s Allen, that’s Organizations: National Association of Realtors, Minneapolis Mayor, Currie, Bloomberg, Getty, Minnesota Gov, Trump, Pew Research, NBC, Ford Motor Co, Minn, University of Minnesota, Minneapolis, California Bay Area, Minnesota Environmental, Minnesota Supreme, University of Minnesota’s Locations: MINNEAPOLIS, United States, Minnesota, Minneapolis, U.S, Harrison, Hennepin County, St, Paul, California Bay, San Francisco, Oakland, ”, Northeast Minneapolis, “

Now that the Fed has cut rates, mortgage rates may not drop much further in the near term. But if the Fed doesn't lower rates as much as expected this year, mortgage rates may hold steady or even inch up. But rates are still expected to come down further, so it may also be worth waiting to see how low mortgage rates go. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: Lawrence Yun, you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Wednesday, National Association of Realtors, Consumers, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ What's Minneapolis' secret to fixing housing? Build more
▼ + stars: | 2024-09-20 | by ( Brian Cheung | ) www.cnbc.com time to read: +3 min

The Currie Commons housing development under construction in the Harrison neighborhood of Minneapolis, Minnesota, US, on Thursday, July 20, 2023. We want to house five or six or eight or 25 families," said Minneapolis Mayor Jacob Frey, who has overseen the Minneapolis 2040 plan. Both former President Donald Trump and Vice President Kamala Harris have broadly promised to provide some support for first-time homebuyers, with the Harris campaign offering more details. The campaign broadly said Trump's housing plan involves freeing up federal land for housing and cutting regulations. The Currie Commons housing development under construction in the Harrison neighborhood of Minneapolis, Minnesota, US, on Thursday, July 20, 2023.

Persons: Ben Brewer, Minneapolis Mayor Jacob Frey, Donald Trump, Kamala Harris, Harris, Tim Walz, Karoline Leavitt Organizations: Currie, Bloomberg, Getty, National Association of Realtors, Minneapolis Mayor, Minnesota Gov, Trump, Ford Motor Co Locations: Harrison, Minneapolis , Minnesota, United States, Minnesota, Minneapolis, U.S, Saint Paul , Minnesota, The Minneapolis

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