San Jose Real Estate News
San Jose
Cost of Buying a Home Hits Record High as Mortgage Rates Jump in U.S.
This past week, the average daily mortgage rate climbed to over 7.4%, marking its highest point since last November 2023, influenced by an unexpectedly high inflation report and confirmation from the Federal Reserve that interest rate reductions would be postponed.
California Home Sales Uptick in February
Based on new data from the California Association of Realtors, despite a recent uptick in mortgage rates, California's housing market continued to demonstrate resilience in February 2024, reaching sales levels not seen since September 2022.
U.S. Commercial, Multifamily Mortgage Delinquency Rates Uptick in Q4
According to the Mortgage Bankers Association's latest Commercial Delinquency Report, U.S. commercial mortgage delinquencies increased in the fourth quarter of 2023.
NAR Agrees to Landmark $418 Million Settlement, Altering Commission Payments Forever
Based on a press release March 15, 2024, the National Association of Realtors reached an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions.
