Average mortgage rates top 7% for the first time in 8 months
Rates increased for a fifth straight week, but the latest inflation data could be a sign that relief is coming.
January 16, 2025
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- NAR asks court to dismiss Michigan mandatory membership caseTying association membership to MLS access isn’t anticompetitive, the defendants argue, while also claiming the plaintiffs are contradicting themselves.January 16, 2025
- Compass boosts outlook, expects 2024 revenue to top $5.6BThe brokerage revised its fourth-quarter and full-year earnings forecast upward, also noting that it added more than 650 agents in Q4.January 15, 2025
- Clear Cooperation lawsuit dismissed (again)TAN, a private listing network, has agreed to drop its case against NAR after nearly five years of litigation and previous dismissals. Will this be the end?January 14, 2025
- Former NAR president lived by his belief in ‘The Power of One’Tennessee Realtor and association leader Martin Edwards, Jr. passed away last week, leaving a legacy of service and advocacy.January 10, 2025
- Mortgage rates soar following strong jobs reportThe employment data is good news for workers, but it means the Federal Reserve is unlikely to cut rates later this month, keeping borrowing costs elevated.January 10, 2025
- Housing supply and demand could shift dramatically in 10 yearsPopulation growth is slowing, which means fewer new households — and fewer new homes needed. But immigration is still a wild card.January 10, 2025
- Mortgage rates drift higher — but buyer activity picks upWeekly averages moved closer to 7%, but upcoming labor market reports could change the trajectory.January 9, 2025
- Brokerages in Georgia commissions case ask for settlement approvalWith all deals now disclosed, the parties have requested preliminary approval, but the eXp and Weichert settlements are still under scrutiny in another court.Updated January 10, 2025
- Housing optimism up 'substantially' compared to a year agoConsumer sentiment was relatively high in December, largely driven by expectations of declining mortgage rates in 2025.January 7, 2025
- DOJ files amended complaint against RealPageJust a month after the company announced an investigation into its rental pricing practices had ended, the DOJ is back with an updated, expanded lawsuit.Updated January 7, 2025
- How the country's largest MLS is pitching its valueAre MLSs still relevant in real estate’s new era? Absolutely, says California Regional MLS, whose new campaign focuses on adaptation and member empowerment.January 6, 2025
- A new year brings new litigation over mandatory membershipLouisiana agents are the latest to sue NAR over membership rules that limit MLS access — and alleged reputational damage caused by scandals and lawsuits.January 3, 2025
- Will the DOJ sue NAR in 2025 — or back off?A new presidential administration and a Supreme Court decision could affect how the Justice Department approaches the real estate industry in the new year.January 3, 2025
- Mortgage rates edge closer to 7%While rates have risen by nearly a percentage point since late September, buyers appear to have “recalibrated expectations” — and home sales have improved.January 2, 2025
- The Ten: How mortgage rate head fakes foiled a real estate recovery2024 was supposed to be the year that home sales bounced back, but rates, inflation (and buyers) had other plans.December 31, 2024
- Why renters — and listings — aren’t budgingIt’s (still) all about home prices. Inventory is up, but much of it is stale, while flattening rents are keeping renters in their homes longer.December 30, 2024
- MLS, association execs expect membership declines in 2025As a weak market and dissatisfaction with NAR drive attrition, more leaders are considering opening MLS access to non-Realtors, a recent survey found.December 30, 2024
- Mortgage rates at highest point since July despite cuts“Buyers and sellers are gradually returning” but inventory could take a hit if homeowners stay locked in to their lower rates, experts say.December 26, 2024
- The Ten: The outsider who took on forms — and then NARWhen law professor Tanya Monestier started looking into buyer agreements, she never expected to become a leading voice in NAR’s biggest battle.December 24, 2024
