New Biden Initiative: Convert Offices to Housing

Over $35B will be available for below-market rate loans that finance new housing construction and/or office conversions near transportation hubs.

Mortgage Rates Move Lower After Rocky Start

Mortgage rates have been bouncing around by leaps and bounds in a wide, sideways range over the past 2 weeks.  The upper boundary of that range happens to be the highest level in 23 years.  The lower boundary doesn't really matter in light of the upper boundary. All of the above is a logic

NAR: Pending Sales Rise 1.1% in Sept.

It’s a slight gain, but NAR’s chief economist says pending sales “remain at historically low levels.” Year-over-year, pending transactions were down 11%.

Short ‘Days on Market’ Shifts to the North

Albany, N.Y., homes went under contract in 8 days in Sept., followed by Rochester (9) and Grand Rapids, Mich. (9). In 8 Fla. metros, it ranged from 25-58 days.