Category: Uncategorized

The Fed Paused its key interest rate at at its current range between 5.25% and 5.50%. Meanwhile a rate hike is expected on Fed next meeting on Oct 31- Nov 1.Officials cut forecasts for 2024 rate cuts, suggesting a "higher for longer" policy; benchmark rate above 5% by end of 2024.

The Southern Maryland housing market is still facing inventory shortages, which is contributing to an affordability crisis.

Maryland has higher housing expenses compared to the national avg.

In July, US pending home sales increased 0.9%, according to data from the National Association of Realtors. This was despite the rise in mortgage rates and limited housing inventory. The uptick in the index is a sign that some homebuyers are still in the resale market, while the West region experienced a meaningful price decline…

According to the Mortgage Bankers Association's latest survey, US mortgage applications increased 2.3% from the week before. Refinance applications were up 3% and purchase applications were up 2%, but both were still significantly lower than the same week one year ago. Mortgage rates were mostly unchanged with the 30-year fixed rate remaining at 7.31%. Treasury…

Southern Maryland's housing market is slowing down, evident from various indicators. Active listings ↓ 2.16%, and new listings ↓ 38.83% yearly in June, limiting options for buyers.

Baltimore: 3.4% projected growth by July 2024. .

SB 579/HB 728: Service agreements for property maintenance, purchase, or sale cannot exceed one year or be recorded as a lien. SB 443/HB 662: New licensees must take 15-hr of continuing education in contracts, disclosures, property management, etc.

Maryland has the highest median household income among the 50 states, which is $91.4K.

Montgomery, D.C., and Prince George's County have all passed legislation to cap rapidly rising rental prices in the region. This bill is a compromise between two council members, Natali Fani-Gonzalez and Will Jawando, and is a victory for tenants and landlords in Montgomery County. D.C. also passed temporary rent control guidelines limiting rent increases to…