A group of top economists arrived at a consensus 2020 economic and real estate forecast today at the National Association of Realtors®’ first-ever Real Estate Forecast Summit. The economists who gathered at NAR’s Washington, D.C. headquarters expect the U.S. economy to continue expanding next year while projecting real estate prices will rise and … [Read more...]

Fannie Mae's Home Purchase Sentiment Index rebounded in November nearing a survey high that was set in August as more Americans show greater confidence in home buying.  The index, based on consumer surveys showed the greatest increases in the percentage of  Americans who believe now is a good time to buy and those who believe home prices will … [Read more...]

The Federal Housing Administration announced that it is increasing its loan limit for most of the country in 2020.  The FHA loan limit will be $331,760--a $17,000 increase from 2019's loan limit. The  FHA's announcement follows on the heels of the Federal Housing Finance Agency that also approved a higher conforming loan limit for 2020.  The cap … [Read more...]

Housing inventories are likely to tighten in the upcoming year, making it even more challenging for buyers to find a home.  That will come as lower mortgage rates are making it enticing to make a move, REALTOR.com reports in its 2020 housing forecast, released today. The total number of homes available for sale could hit a record low in 2020, … [Read more...]

iBuyers, data security threats, MLS vulnerabilities, and venture capital growth are poised to shake up the housing industry over the next two years, according to the 2020 Swanepoel Trends Report. The 200-page report, which was released Monday by real estate consulting and research firm T3 Sixty, is in its 15th year and is closely watched for … [Read more...]

President Donald Trump on Friday signed an extension of the National Flood Insurance Program through November 21st, marking the 13th time the program has been granted a last-minute reprieve from expiration.  The NFIO, which faces financial challenges and is billions of dollars in debt, had been set to expire September 30th until Congress rushed a … [Read more...]

The National Association of REALTORS is considering a change in the association's MLS policy aimed at creating greater cooperation between brokerages within MLSs.  The "Clear Cooperation Policy" proposal is straight forward:  Brokers who are MLS participants must share listings with other brokers if those listings are being publicly marketed.  NAR … [Read more...]

More than half of Americans polled in a recent National Association of REALTORS survey believe that now is a good time to buy a home.  Optimism fared well in the third quarter of 2019 as 63% of people said they believe that now is a good time for a home purchase, with 34% of those respondents saying they believe that strongly. CLICK HERE TO READ … [Read more...]

Credit scores are rising, which bodes well for mortgage seekers desiring the lowest rates.  The average FICO credit score, which is a widely used measure of a person's creditworthiness, stands at 706, a record high, according to newly released FICO data.  For comparison, in 2009 at the end of the Great Recession, the average FICO score was 686.  … [Read more...]

By the end of this year, the 30-year fixed-rate mortgage could drop to 3.3%, which would put the most popular loan product near its lowest average since Freddie Mac began tracking such data 48 years ago. Lawrence Yun, chief economist for the National Association of REALTORS, made the prediction after seeing the latest Labor Department report  last … [Read more...]