Mortgage Rate Update for the Week of August 12, 2024

It’s Monday and that means I’m sharing my weekly update on what may impact mortgage rates this week. Plus, I’m including solutions on what you can do if a seller is not wanting to pay your buyers agent’s commission, with the NAR Settlement.

What’s Happening with Real Estate Agent Commissions?

Last Friday, NAR (the National Association of Realtors) announced a settlement which included a major change to real estate commissions. This settlement still needs court approval to be finalized.

Several media sources have been spreading misinformation about commissions with headlines including that buyers agents will no longer be compensated. This is far from accurate. [Read more…]