Category Archives: bright mls

As it geared up to fight for rules that were favorable to its private listings strategy, Compass set out to understand where hundreds of MLSs stood — and to create a 1-to-5 ranking system.

As it geared up to fight for rules that were favorable to its private listings strategy, Compass set out to understand where hundreds of MLSs stood — and to create a 1-to-5 ranking system.

As it geared up to fight for rules that were favorable to its private listings strategy, Compass set out to understand where hundreds of MLSs stood — and to create a 1-to-5 ranking system.

The Federal Reserve’s decision to make a series of historic short-term rate cuts at the height of the pandemic has proven to be a double-edged sword, with the sharpest point being the percentage of would-be homesellers locked into their homes by 2 percent to 3 percent mortgage rates.

Mortgage rates have stabilized and more inventory is coming online, but applications for purchase loans fell by a seasonally adjusted 6 percent last week compared to the week before.

Home price growth slowed to the lowest level in two years in May. However, market pressures, primarily from elevated mortgage rates, mean buyers are still struggling to afford homes.

Despite ample inventory and more affordable prices, seasonally adjusted new residential sales dropped 6.6 percent annually. Experts attributed the drop to mortgage rates as the primary cause.