Home purchase applications edged up for the third straight week, increasing 1.4% from last week’s increase of 1.6%, as mortgage rates hit their lowest level in six weeks and a 25-basis point interest rate cut by the Federal Reserve is likely in the offing. This week’s latest mortgage application data from the Mortgage Bankers Association’s…
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NextHome has become the latest brokerage to strike a settlement agreement with seller plaintiffs in ongoing commission lawsuits, joining more than a dozen other defendants who have negotiated deals in the largest Burnett copycat case (known as Gibson) led by star trial attorney Michael Ketchmark. A judge paused all upcoming deadlines after NextHome and plaintiffs’…
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In a seemingly positive sign for consumers, inflation has now posted the lowest recent annual increase two months in a row. Previously, in July 2024, the Consumer Price Index (CPI)—key inflation gauge assembled by the U.S. Bureau of Labor Statistics—rose only 2.9% year-over-year. In the latest CPI for August, the index rose by 2.5%, continuing…
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They’re the yangs to the high-mortgage-rate yins. The homeowners who have the 3% – 4% 30-year mortgage rates and have, over the last few years, refused to vacate, logically in most cases as they have not wanted to take on new mortgages in the 6% – 8% range. All evidence points to a rate cut…
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