Mortgage rates dip to lowest level since September
As rates decline for a third straight week, mortgage applications have risen, suggesting the possibility of a jump in year-end home sales.
November 16, 2023
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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- Commissions case won't be finalized until 2024Although the jury reached a verdict in the Sitzer/Burnett lawsuit on Oct. 31, post-trial motions will keep any judgment on hold until spring.November 15, 2023
- Mark Willis returns to CEO role at KWWillis previously held the top leadership position at Keller Williams Realty from 2005-2015 and had recently rejoined the company in a consulting capacity.November 15, 2023
- 2024 could usher in a surge of home salesNAR economist expects to see a double-digit rise in both existing and new home sales next year.November 14, 2023
- Will Sitzer/Burnett send the industry back to the ‘Dark Ages’?Bright MLS CEO Brian Donnellan said the verdict could be a blow to fair housing, which “should be concerning to all of us.”November 14, 2023
- First-time homebuyers ‘tiptoe back’ as median income tops $100kNAR’s annual Profile of Home Buyers and Sellers found that down payments increased as more people saved up by living with friends or family before purchasing.November 13, 2023
- New lawsuits crop up to challenge agent compensationCases in South Carolina, New York and Chicago pit consumers against NAR, REBNY, Keller Williams and other top real estate companies.November 10, 2023
- Commissions verdict casts a long shadow over Q3 earningsZillow, Redfin and CoStar assured investors that they can withstand “massive disruption,” while others discussed efficiencies and even some avenues for growth.November 10, 2023
- Big rate drop could mean flurry of Thanksgiving home salesMortgage rates took a dive this week, experiencing the largest one-week decline in a year.November 9, 2023
- eXp confirms ‘bad actors’ fired were defendants in sexual assault caseDuring the company's recent earnings call, CEO Glenn Sanford was asked about ongoing litigation that claims eXp ignored a pattern of sexual misconduct.November 8, 2023
- Compass CEO expresses 'confidence' in commissions following verdictIn the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.November 6, 2023
- Jobs report could mean lower mortgage rates are comingThe pace of jobs and wages slowed in October, which may reduce inflation and potentially knock down mortgage rates in time for the spring selling season.November 3, 2023
- Mortgage rates level off after rising for 7 weeksAfter steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.November 2, 2023
- How did Redfin get roped into the commissions lawsuits?Despite cutting ties with NAR and touting its consumer advocacy, the brokerage is named in a new lawsuit similar to the Sitzer/Burnett and Moehrl cases.November 1, 2023
- Settling ahead of trial a prudent choice for Anywhere, RE/MAXWith more trials over commission practices — and potentially hefty damage awards — looming, the settlement agreements could be a selling point.October 31, 2023
- New commissions lawsuit filed on the heels of Sitzer/Burnett verdictAfter the jury unanimously found for the plaintiffs in the Missouri case, the lead attorney announced he was filing a nationwide suit naming NAR, 7 brokerages.October 31, 2023
- Jury sides with home sellers in commissions trialAfter less than three hours of deliberation, the jury ruled for the plaintiffs in the landmark Sitzer/Burnett trial, awarding nearly $1.8 billion.October 31, 2023
- Home price growth rose again in AugustThe latest Case-Shiller Index found that home prices continued to rise for a seventh straight month despite high mortgage rates.October 31, 2023
- The ‘day of accountability has arrived,’ say plaintiffsThe plaintiffs’ attorney presented a dramatic closing argument, while the defense took a more methodical approach, saying the conspiracy claims did not hold up.Updated October 31, 2023
- Retro housing market stuck in early ‘80s time warpMany of today’s challenges are throwbacks to what consumers and the industry faced four decades ago.October 29, 2023
