Mortgage interest rates soar above 7%, reaching new 2024 high
No rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.
April 18, 2024
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
Page 27 of 52
- KW still on the hook for spam calls, judge rulesA Pennsylvania judge concluded the brokerage company has personal jurisdiction in a telemarketing lawsuit involving agents from a franchise office.April 18, 2024
- Major homebuilder objects to commissions settlement processPulteGroup, which potentially has thousands of claims as a seller, raised concerns about “needless and time-consuming” paperwork and lack of transparency.April 16, 2024
- No quick judgment for home sellers in commissions caseThe judge in Sitzer/Burnett declined the plaintiffs’ motion to enter a $5.4 billion award, saying other motions and settlements need to be finalized.April 15, 2024
- Supreme Court to HomeServices: Sitzer/Burnett verdict standsThe brokerage lost its bid to have the verdict tossed out, leaving it with fewer options as the lone defendant in the landmark commissions case.April 15, 2024
- Judges rule against merging commissions copycats — for nowThe ruling leaves open the possibility of consolidation after settlements have concluded. But in the meantime, cases that had been on pause can move forward.April 12, 2024
- Sitzer/Burnett plaintiffs push for steep judgment — plus interestAttorneys argued that the home sellers “should not have to wait indefinitely to defend their verdict on appeal” and provided details about the case’s timeline.April 12, 2024
- With no rate cuts expected soon, financing a home remains toughAs the U.S. economy continues to show strength, mortgage rates could stay in the 7% range this homebuying season.April 11, 2024
- 3 things to know about the UWM mortgage lawsuitThe mortgage wholesaler is accused of steering and “cheating” borrowers through excessive fees, echoing some claims seen in the commissions cases.April 10, 2024
- Buyers are adjusting to a higher-rate environmentWhile consumers are feeling less enthusiastic about the direction of mortgage rates, they “appear to be moving past the hurdle of last year’s sharp jump.”April 9, 2024
- Real Brokerage makes $9.25 million deal to settle commissions suitThe company reached the agreement in the Umpa case, the only major class action involving agent pay to name Real as a defendant.April 8, 2024
- Lawsuits over KW profit-sharing changes continue to multiplyAt least seven complaints have been filed by former Keller Williams agents over reductions set to take effect on July 1.Updated April 8, 2024
- DOJ can reopen its investigation into NAR, appeals court rulesRuling could lead to further changes in industry practices by allowing the Department of Justice to revisit an antitrust case originally settled in 2020.April 5, 2024
- Mortgage rates remain steady, but for how long?Mortgage rates ticked up slightly this week, but have stayed in a narrow range throughout 2024. Upcoming economic reports could test this period of stability.April 4, 2024
- Price cuts hit a five-year highThere are more green shoots for would-be home buyers this spring as inventory grows to its highest point since 2020, according to Realtor.com’s monthly report.April 4, 2024
- Keller Williams hit with another telemarketing class-actionAfter reaching a $40 million settlement in a separate case a year ago, the brokerage faces new allegations of sending unsolicited text messages.April 3, 2024
- A resurgence of first-time buyers, and a look at agent payNAR’s annual generational trends report examines buyer and seller characteristics and dives into their needs — and how they compensate agents.April 3, 2024
- HomeServices responds to massive damages requestThe firm argues that existing settlements in Sitzer/Burnett need to be finalized before a judgment can be made — and that won’t be an “uncontroversial” process.April 1, 2024
- Why all eyes are on the Nosalek caseCMLS is the latest organization to weigh in on the Massachetts case, while a dispute with the DOJ could shed light on the fate of compensation rules nationally.April 1, 2024
- Agents must get on board with the ‘new way’ of doing businessIn just a few months, new compensation and buyer agreement mandates will kick in. Agents who are ready to adopt them will succeed more quickly.March 30, 2024
