Here’s welcome news for home shoppers: Borrowing costs got cheaper this week. Mortgage rates are back under 3% for the first time in weeks.
The 30-year fixed-rate mortgage averaged 2.97% this week, Freddie Mac reports.
The drop in rates this week followed a downward trend for the 10-year Treasury yield, which rates closely follow. The economy is gaining momentum, however, and consumers can expect mortgage rates to rise in the upcoming months, Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS®, writes at the association’s Economists’ Outlook blog.
The 30-year fixed-rate mortgage continued to drop this week, heading back near the 3% range. The 30-year fixed-rate mortgage averaged 3.04% this week, Freddie mac reports. Mortgage rates are still below a year ago and remain at historical lows, which has proven a boon for the housing market, economists note. “Mortgage rates took another dip this week as the 30-year fixed-rate mortgage decreased by almost ten basis points, week over week,” says Sam Khater, Freddie Mac’s chief economist. “The economy is improving on the demand side and on the supply side, a variety of goods and materials remain scarce. As a result of this imbalance, pricing pressures are building and causing inflation to rise. Despite the pause in mortgage rates recently, we expect them to increase modestly for the remainder of this year.” Continue…https://magazine.realtor/daily-news/2021/04/16/mortgage-rates-near-3-again
At the start of the pandemic, gardening took on much greater importance as many homeowners and apartment dwellers feared going to their local grocery store or farmers market or even having groceries delivered, to the extent that they would rigorously sanitize them. Growing fruits, vegetables, and herbs seemed so much safer—and it became a fun family activity, pitching in together to till soil, water seedlings, and harvest yields.
April 14 is National Gardening Day, first marked in 2018 by Cool Springs Press, a publisher of home and garden do-it-yourself books, to acknowledge the hobby of gardening and encourage gardeners to share their knowledge. Even as the country begins to feel a bit safer with more people getting vaccinated, the gardening bug has remained with many homeowners.
Whether your clients are new to gardening or longtime aficionados, here are three tips you can share as the gardening season gets underway.
First-time home buyers are swooning over housing. Millennials are comprising the largest share of buyers at 37%, shows the National Association of REALTORS®’ newly released 2021 Home Buyer and Seller Generational Trends report. The youngest buying generation–Gen Z—is also starting to emerge. The majority of millennials and Gen Z buyers are first-time home buyers and are increasingly relying on real estate professionals to navigate their homebuying debut in what has become a very competitive housing market during a pandemic. In particular, younger millennial buyers—ages 22 to 30—were the most likely to cite a real estate agent as a prime information source they used during their home search at 91%, according to NAR’s survey. “Buyers used all tools available to them—whether it be a mobile device, yard sign or an online video–but at some point, nearly all buyers turned to an experienced agent to assist with the transaction,” said Jessica Lautz, NAR’s vice president of demographics and behavioral insights. “This is especially true among younger millennial consumers as they are likely first-time buyers and need help navigating the market and all steps involved in the process.” Continue…https://magazine.realtor/daily-news/2021/03/16/nar-study-young-adults-eagerly-entering-dominating-housing-market
WHO WAS ST. PATRICK? WHY DO WE CELEBRATE ST. PATRICK’S DAY?
Many workers want to continue to work from home, even when the pandemic is over. A new survey from JLL of 2,000 employees globally found that 72% want to be able to work from home more during the workweek, up considerably from 34% before the pandemic. Sixty-six percent are in favor of a hybrid model that mixes in office, home, and a co-working facility.
The idea of a 3-2-2 model is gaining popularity with workers. LinkedIn’s year-end roundup of 2020’s workplace trends called it a one to watch in the new year. The model would allow employees to work three days in the office, two days remotely, and two days off.
As more of the country breathes a sigh of relief as temperatures rise and the countdown to spring shortens, there’s a weather-related concern that remains. Melting snow followed by a cold snap—which is on the way for many parts of the country in the coming week—may cause ice dams to develop and bring a cascade of water into homes. Even if your house hasn’t faced this problem this year or in prior years, it’s still wise to think ahead to avoid the potential mess and repair costs, which can be significant.
Design, building, and remodeling experts at Orren Pickell Building Group in the Chicago area report that the company has been contacted by a number of homeowners who faced the challenge this year due to heavy snowfall and unusually cold temperatures followed by warm days.