Fed action not enough to keep mortgage rates from surging
Despite a 25-point cut by the central bank, rates rose for a sixth straight week while applications fell sharply.
November 7, 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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- Zillow sees big revenue boost as it continues to beat expectationsGrowth across all major divisions, which the company attributed to strong conversions and agent partnerships, produced double-digit gains in the third quarter.November 6, 2024
- The election is over — what does it mean for interest rates?In the short term, expect "rising and more unpredictable mortgage rates." But the Fed will likely stay the course and issue a modest rate cut this week.November 6, 2024
- 4 more brokerages file preliminary settlementsThe combined deals, which total nearly $5 million, are the next step in resolving litigation for the four firms with regional and national footprints.November 5, 2024
- Judge largely dismissive of objections to settlementsIn a lengthy filing, Judge Bough outlined his reasons for approving nine brokerage settlements last week, which he said got plaintiffs “the best deal possible.”November 4, 2024
- A year after Sitzer/Burnett, are the biggest impacts yet to come?A lot has happened — leadership changes, settlements, new rules — but some say it's still too early to know how the landmark verdict will affect the industry.November 2, 2024
- The fall housing rally may have come and goneSeptember’s low rates gave pending sales a boost, but as mortgage rates climb for a fifth straight week, enthusiasm is expected to wane.October 31, 2024
- Judge approves brokerage settlements totaling $110 millionDefendants including Compass, Redfin and seven other large firms can now move on from litigation in the sell-side commissions cases.October 31, 2024
- What’s spookier, ghosts or mold? Owners and buyers weigh inIn the “spirit” of Halloween, a new survey finds that many people would settle for a haunted house over one with maintenance issues or political neighbors.October 31, 2024
- Rise in transactions, agents drives strong Q3 for CompassRevenue was also up, and CEO Robert Reffkin said top agents have been able to increase commissions “since they are now able to negotiate for themselves again.”October 30, 2024
- A spate of objections to NAR, HomeServices settlementsWith less than a month until the deals are finalized, objectors are making claims of insufficient damages, harm to minorities, lack of accountability and more.October 30, 2024
- NAR settlement doesn’t pass the ‘real world’ testA law professor filed a lengthy objection calling it “the worst of all possible worlds,” raising concerns about “chaos and frustration” as well as legal fees.October 29, 2024
- Real estate in for a fright as mortgage rates return to 7%The latest numbers suggest that, for the third consecutive fall season, rates will crest that dreaded threshold.October 28, 2024
- In the courts: What’s new, and what’s nextThere's more than $110 million at stake in a nine-brokerage commissions settlement hearing next week, while eXp has come under fire for its recent deal.October 26, 2024
- New home sales take off; market remains grounded overallSeptember’s lower mortgage rates may have given a boost to the new construction sector, but buyer enthusiasm could be waning as rates climb back up.October 24, 2024
- A disappointing September pushes home sales to 14-year lowLower mortgage rates and rising inventory failed to entice buyers, particularly first-timers, as prices continued their year-over-year climb.October 23, 2024
- CoStar continues to grow, but not without some painRevenue was up 11%, and the company plans to accelerate the growth of the Homes.com sales team despite some slowdown in traffic from the previous quarter.October 22, 2024
- Top portals forge new partnership with enhanced listingsZillow will share 3D Home tours, interactive floor plans and other listing features with Realtor.com beginning in 2025, part of a larger focus on collaboration.October 22, 2024
- Will builders start lowering agent commissions?Most haven't, data shows, as they wait for the post-settlement dust to settle. Instead, they’re leaning into agent relationships and rethinking incentives.October 22, 2024
- NAR, 4 brokerages ask court to toss out Homie suitThe defendants cite a lack of jurisdiction in the case, which alleges that NAR “controls competition” and accuses brokers of steering buyers away from listings.October 21, 2024
