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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 80 September 2024 F I N A L T H O U G H T S "a large contribution of loss" Tom Larsen, Associate VP of Hazard and Risk Management at CoreLogic, discussed the catastrophic effects of Hurricane Helene and the impact the Category 4 hurricane is anticipated to have on home construction, commercial buildings, residential properties, and the billions of dollars it will cost in damages. "a much-needed boost" Edward Seiler, MBA's Associate VP of Housing Economics and Executive Director for the Research Institute for Housing America, offered his insight on improving conditions for homebuyer affordability and how lower mortgage rates, higher salaries, and slower home price increases are giving prospective homebuyers' budgets more wiggle-room to explore their options. "signs of movement" Danielle Hale, Chief Economist, Realtor.com, elaborated how home sellers who are locked into a low rate have been waiting for market conditions to change, and while mortgage rates are at their lowest point in two years, more sellers are now listing their properties for sale. "a slight upward turn" Lawrence Yun, Chief Economist for the National Association of Realtors, explained that while contract signings continue to lag behind seasonal lows despite home values continuing to soar to all-time highs, pending home sales experienced a slight uptick in August, reflecting a modest improvement in housing affordability. "homes changing hands" Elijah de la Campa, Senior Economist at Redfin, revealed that while mortgage rates took a dip in September, many of the properties listed this year have become stale due to lack of demand and economic uncertainty, marking the lowest home turnover rate in decades.