The Federal Reserve voted unanimously on Wednesday to leave borrowing costs unchanged and says it will continue to be “patient” about making any moves to its benchmark rate. The Fed’s vote came despite increased calls from the White House to cut interest rates. But the central bank left rates unchanged on Wednesday, citing the lack of inflation pressure.The Fed’s closely watched benchmark rate will remain in a range of between 2.25% and 2
Hello,This update is coming to you in great relief since I had told myself that I wouldn't post another company update until our system upgrades were in the process of being finished up. The new systems are scheduled to be implemented later this year and we couldn't be more anxious to share them with you. It has been years in the making and is something we'll be boasting about when completed.Since our last update, we've hired 68 members and are w
Another state is allowing home buyers and sellers to bypass having to be present at the closing table. Iowa this week becomes the latest state to allow fully digital closings for mortgage transactions, allowing 100% of the closing process to go digital. Iowa Gov. Kim Reynolds signed an electronic notary law, SF 475, into effect on Monday.Fully digital closings are gradually growing in the housing industry. But many state restrictions still surrou
Selling a home is often the largest financial transaction a person will make, but that doesn’t mean homeowners want to devote a lot of time to it. More than half—58%—of homeowners who recently sold a home say they spent less than three hours researching the method and professional they chose to sell their home, according to a new survey of 1,000 homeowners conducted by SOLD.com.A separate survey from the National Association of REALTORS® s
Pending home sales were back on track last month, reversing course after last month’s drop. Three of the four major regions saw an uptick in contract signs in March, the National Association of REALTORS® reported Tuesday.NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.8 percent last month over February, and contract signings reached a reading of 105.8. Still, contract signings are down 1.2
Newbie home buyers are more likely to shop around for a better mortgage loan term than repeat buyers, a new study from LendingTree shows. Studies have shown that shopping around for a mortgage can be a smart move, too: Home buyers could see a median lifetime savings of $40,959 in interest on a $300,000 loan by comparison shopping.LendingTree researchers recently compared first-time buyers with repeat mortgage borrowers to see who is the more
Homeowners continue to reap profits off their home sales. U.S. homeowners who sold in the first quarter of this year realized an average home price gain since purchase of $57,500. That is up slightly from an average of $56,733 a year ago, according to ATTOM Data Solutions’ Q1 2019 Home Sales Report. The gains represented an average 31.5 percent return as a percentage of the original purchase price.Markets along the West coast saw some of the gr
The Tax Cuts and Jobs Act, an overhaul of the U.S. tax code enacted in 2017 that puts a cap on some deductions for homeowners, has “negatively impacted the housing market” by tamping down sales volume, according to a new study from the New York Federal Reserve. A slowdown in home sales from late 2017 through the third quarter of 2018 can be partially attributed to the changes in the tax law, in addition to interest rate hikes during that time
How effective is it for your buyers to write a personal letter to sellers to win over their hearts and get their offers accepted? Personal letters have been drawing criticism lately because of the potential for buyers to inadvertently reveal items that could hurt their negotiating position. Virginia real estate pro Daniel Bortz recently shared in a realtor.com® article some of the phrases he suggests buyers never use in an offer letter
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