Real estate markets across the United States have begun responding to lowering interest rates. In the first week of August, the average rate on a 30-year fixed rate mortgage dropped to 6.73%. As a result, the Mortgage Bankers Association reported that mortgage applications jumped 6.9% over that week, while refinance applications rose 16% over that […]
Reports from the U.S. Department of Commerce showed a year-over-year decline in the rate of core inflation over the month of June, down to 2.5% from 2.6% the previous year. This marks the third consecutive month of year-over-year declining rates of inflation, the first signs that the inflation crisis, which has been at the heart […]
The Alabama Association of Realtors (AAR) has released its Alabama Economic and Real Estate Report for June of 2024. The report shows several indicators that the real estate market across the state is maintaining a strong and healthy level of activity. “The latest data underscores a positive trend in our housing market, driven by economic […]
ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE: SFBS), announced the appointment of Tammy Ehrle as Vice President and Mortgage Loan Officer for its Huntsville region. “We are thrilled to welcome Tammy to ServisFirst Bank and our Mortgage Department,” said Andy Kattos, Regional CEO of ServisFirst Bank Huntsville. “Tammy has had an outstanding career in […]
The national real estate market has entered a period of cooling, as the combination of restricted inventory and high interest rates have driven down sales. According to Redfin, which compiled a four-month report which concluded on June 30th, pending sales have declined an average of five percent over the four months. Despite this decline in […]
The June Mortgage Monitor Report released by the Intercontinental Exchange (ICE) shows that many of the Southern real estate markets, which saw a boom during the Covid-19 Pandemic, have begun to bust as the pace of buying has slowed and surplus inventory reaches or even exceeds pre-pandemic levels. Austin, Texas, for example, saw a 0.25% […]
The Alabama Association of Realtors released its Alabama Economic and Real Estate Report for the month of May 2024. The report shows that home sales across the state have increased for the fourth month in a row, with 5,209 home sales for the month of May. However, this is still down 19.3% from May of […]
The Federal Reserve has opted to keep the Federal funds rate within the current range of 5.25 to 5.5%. Inflation has stubbornly remained above the 2% annual rate that the Federal Reserve set as its target level. Interest rates were at 3.3% for the month of May, remaining virtually unchanged from April, when it stood […]
The Huntsville Area Association of Realtors (HAAR) has released their monthly report for the month of April. This report shows heightened market activity across the ValleyMLS region, which covers the North Alabama counties of Madison, Morgan, Lawrence, Limestone, DeKalb, Etowah, Cherokee, Jackson, and Marshall. The most dramatic figures from the report centered around new listings, […]
The National Association of Realtors (NAR) has announced that rule changes to Realtor-affiliated Multiple Listing Service (MLS) are to be implemented by August 17. These rule changes are a part of a $418 million settlement, the final hearing of which is slated for November. The NAR also updated its extensive FAQ page, in order to […]
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