Mortgage rates jump following strong jobs report
While higher levels of employment is good news for real estate in the long term, rising rates may put a damper on home sales this fall.
October 4, 2024
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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- More objections pour in over settlements involving Compass, RedfinA total of nine brokerages have settled in the Gibson/Umpa case, but objectors balk at damage amounts and cite concerns over the impact on homebuyer claims.October 3, 2024
- Buyers are getting ‘a leg up’ for the first time in yearsMortgage rates remain relatively low, and buyer activity, including home tours and mortgage purchase applications, are up.October 3, 2024
- 2 more brokerages agree to settle in commissions caseJohn L. Scott and Real Estate One are the latest firms to reach a deal in the Gibson/Umpa class-action lawsuit.October 2, 2024
- Katie Johnson steps down as NAR’s chief legal officerJohnson oversaw historic — and very public — legal cases for the organization, including the buyer agent commission lawsuits and sexual harassment litigation.October 1, 2024
- KW and other firms supporting agents impacted by hurricanesKW Cares has sent more than 450 generators to associates in the Carolinas, while RE/MAX and Anywhere are helping direct funds to affected agents.October 1, 2024
- Newly ID’d opt-ins will add $30 million to NAR settlement fundPlaintiffs in the Sitzer/Burnett commissions case are seeking preliminary approval for deals with 15 non-Realtor MLSs and 13 real estate brokerages.September 30, 2024
- A double dose of good news for housing affordabilityHome Price Index went up 4.1%, while starter homes are more affordable than they’ve been in four years — in part due to a shift in perspective.September 30, 2024
- The view from California: A 10% jump in home sales next yearHome prices also will increase, with the median at more than $900,000, C.A.R. predicts. But the recent drop in mortgage rates may help would-be buyers.September 29, 2024
- Private firm completes controversial REcolorado acquisitionNew owner aims to make Colorado’s largest MLS more subscriber-centric and simplify transactions as associations pledge “to create exciting new opportunities.”September 27, 2024
- California sets a 3-month limit on buyer agent agreementsThe new law, which takes effect Jan. 1, allows agreements to be extended — but not automatically. It was created in response to the NAR settlement.September 27, 2024
- Lower rates attract refinancing — are homebuyers next?While touring is up, mortgage purchase applications and pending sales are subdued. Inventory shows some promise, but “extra stale” listings have increased.September 26, 2024
- New home sales may have hit a rates-related speed bumpAugust numbers were down nearly 5% from July, but came in better than a year ago and are still expected to outperform existing home sales in the coming months.September 25, 2024
- Redfin ramping up, sees a brighter spring aheadAgent count is growing, teams are expanding and its new compensation plan — Redfin Next — is going national faster than expected, according to a top exec.September 24, 2024
- Sluggish August caps off ‘disappointing’ summerExisting homes sales were down 4.2% year-over-year as prices kept climbing, keeping buyers sidelined. The good news: Inventory continues to build.September 19, 2024
- Mortgage rates hovering around 6% — but now what?Economists are divided over whether rates will continue to drop — and whether “the dam is going to break” and unleash a flood of buyers.September 19, 2024
- The Fed goes big with first rate cutThe board took an aggressive approach with its 50-basis point cut, and signaled that two more cuts are coming this year.September 18, 2024
- Construction activity on the reboundHousing starts and completions rose year-over-year, and builders expressed more confidence this month — but a significant housing shortfall remains.September 18, 2024
- It’s decision time for the Fed, but it may be coming too lateWhile a rate cut — which could further drive down mortgage rates — would help homebuyers, there are other headwinds at play in the final months of 2024.September 17, 2024
- Fathom settles commissions lawsuit for $2.95 millionThe cloud-based brokerage will pay three installments into the settlement fund over the next two years, pushing the fund total past the $1 billion mark.September 16, 2024
