Real Estate News 11/08/2023

Today’s News Synopsis:

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased last week to 7.61% from 7.86%

In The News:

CNBC – “Mortgage rates plunge and demand finally inches back” (11-08-2023)

“Applications to refinance a home loan increased 2% for the week and were 7% lower than the same week one year ago.”

Zillow –  “Understanding Housing Markets” (11-06-2023)

“Zillow Research looks at metrics that capture the competition experienced between buyers and sellers in U.S. housing markets like days to pending (of homes that successfully went under contract; age of inventory, which includes mis-priced and languishing listings coming soon), ever-active inventory, and the percentage of listings with a price cut.”

WallStreetJournal –  “How much does it really cost to remodel a bathroom?” (11-06-2023)

“Whether you are looking to create a spalike oasis or simply want your space to better serve you, an investment in your bathrooms is likely to add—or at least retain—value when you sell and to improve your happiness until then.”

CNBC –  “WeWork, once valued at $47 billion, files for bankruptcy” (11-06-2023)

“Office-sharing company WeWork filed for Chapter 11 bankruptcy protection in federal court Monday.”