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More Americans are taking out mortgages this year, the level of which is on pace to top that of the housing boom in the 2000s. And borrowers are saving hundreds of dollars per month by locking in the lowest mortgage rates in history. In the first nine months of 2020, lenders issued $2.8 trillion in mortgage…

Some real estate pros are having their best year ever for home sales, despite the pandemic. Existing-home sales in November climbed 25.8% compared to last year, the National Association of REALTORS® reported Tuesday. Existing-home sales—completed transactions on single-family homes, townhomes, condos, and co-ops—did dip down by 2.5% in November compared to October’s unseasonably high levels,…

Many renters have transitioned into homeownership during the pandemic, and rental demand and prices are dropping in major cities like New York and San Francisco, ApartmentList reports. “The pandemic is likely to change the expectations and behaviors of renters for an extended period, as people grew accustomed to conducting virtual real estate tours and finalizing…

More consumers are being drawn to new-home construction and home builders are rapidly filling orders. But they’re struggling to keep pace as challenges within the industry mount. Single-family starts flattened in November as builders struggled to meet demand, the U.S. Census Bureau reported this week. Overall housing starts rose 1.2% to a seasonally adjusted annual…

The Federal Reserve left borrowing costs at record lows on Wednesday, while acknowledging there’s still a long way to go as the nation’s economy heals from the COVID-19 outbreak. The key rate acts as a benchmark for borrowing and savings. Interest rates will remain at 0% to 0.25%, which they have since March. The Fed’s…

In the wake of the economic effects of the coronavirus pandemic, many households are struggling to make their rent payments, especially in Florida. The economic impact has been unevenly distributed across the country, based upon varying levels of infection and differing regulations on local businesses and economic activity. The Sunshine State ranked No. 2 for the…

Netflix wants to help end systemic racism in real estate. The streaming giant announced Monday it was donating $25 million to a national effort to combat housing discrimination. Their funds are going to Enterprise Community Partners, a nonprofit group that for over the past four decades has been building and financing affordable housing. Netflix has…

Homeowners are building wealth as property appreciation surges to its highest level since 2014. In the third quarter, the average homeowner had gained about $17,000 in equity year over year, according to CoreLogic’s latest Home Equity Report. Owners in Washington State saw the largest annual increase in home equity at $35,800, followed by California at $34,000.…

The 30-year fixed-rate mortgage rate averaged 2.71% this week, holding at the all-time low first set last week, Freddie Mac reported. The ultra-low mortgage rates are making homebuying more attractive and boosting sales activity to the highest level since 2006, economists said at the National Association of REALTORS®’ virtual Real Estate Forecast Summit on Thursday. While home…

Consumers crave digital connection from small businesses, including from real estate firms, a new study finds. The COVID-19 outbreak has sparked a greater reliance on digital and mobile tech to do jobs and complete transactions. Moxtra, a firm that offers digital solutions, recently surveyed 1,500 small business personnel and 1,500 small business customers across industries,…