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The University of Michigan’s consumer sentiment index improved for the fifth consecutive month in December, rising about 3% to its highest reading in seven months. A surge in buying conditions for durables led Current Economic Conditions to soar more than 20%. Rather than a sign of strength, this rise in durables was primarily due to…

The post Consumer Sentiment Rises for Fifth Straight Month in December appeared first on RISMedia.

Remember the days of 3% mortgage rates? As a relieved nation emerged from the Covid-19 pandemic in 2021, along with it came those historically low average mortgage rates below 5.00%, 4.00% or even sub-3.00%. But as inflation began to increase so too did mortgage rates, rising to nearly 8.00% in 2023 and 2024, their highest…

The post Lender Data Shows Refinance Offers Have Increased 42% Nationwide Over the Last Year appeared first on RISMedia.

How are consumers feeling overall, and how does that translate to a real estate sale? The question is multifaceted, but asking it could be key to learning where buyers stand as the election fast approaches. The consumer sentiment index indicated yet another rise, for the third consecutive month, per the University of Michigan’s survey of…

The post Consumer Sentiment Rises Slightly for the Third Consecutive Month appeared first on RISMedia.

A key skill to being a real estate agent is judging a buyer’s mood. So how are consumers feeling on a wide scale?  Consumer sentiment dipped slightly in the early days of October 2024, from 70.1 to 68.9, per the latest report for the University of Michigan. This monthly change comes in below expectations; median…

The post Consumer Sentiment Shifts From Gains to Slight Decline appeared first on RISMedia.

Maintaining client relationships means hopefully selling them another house in the future, and representing them as the seller agent as well. As such, it’s imperative you guide them in all aspects of homeownership even in times when they are not buying or selling. One key topic is refinancing. Here are four mortgage refinancing mistakes to…

The post 4 Mortgage Refinancing Errors Your Longtime Clients Must Avoid appeared first on RISMedia.

With a recent interest rate decrease from the Fed and slowing inflation, consumers’ economic hopes saw a significant increase in September. Consumer sentiment rose 3.2% in September, from 67.9 in August to 70.1, according to the University of Michigan’s latest report. This is the second consecutive month of increase, following August’s rise of 1.5 points,…

The post Consumer Sentiment Turns Positive as Inflation Slows appeared first on RISMedia.

“The rent is too damn high,” famously proclaimed New York City perennial candidate Jimmy McMillan. The latest analysis from Harvard University’s State of the Nation’s Housing 2024 report suggests those who share McMillan’s views are unlikely to change their tune.  The report, tracking data up to Q2 2024, includes three major takeaways when it comes…

The post Rental Markets Cool—but Not to Pre-Pandemic Levels appeared first on RISMedia.

Consumers reported significantly greater optimism about the future direction of mortgage rates, despite showing little change in overall home buying sentiment, according to Fannie Mae data.  Fannie Mae Home Purchase Sentiment Index® (HPSI) for August increased 0.6 points to 72.1, up 5.2 points year over year. Fannie Mae added that a high of 39% of…

The post Fannie Mae: Most Consumers Remain ‘Apprehensive’ About Housing Market appeared first on RISMedia.