Yesterday, theNational Association of Realtors(NAR) released their latestExisting Home Sales Reportwhich covered sales in November. The report revealed that sales:
“…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…”
That revelation gave birth to a series of industry articles, some of which quoted pundits questioning whether the housing market was slowing. In actuality, there is one rather simple explanation to much of the falloff in sales last month. It is likely the implementation of the“Know Before You Owe”mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which went into effect on October 3
Author:Ann Marie Cancro Phone: 717-468-1301 Dated: January 5th 2016 Views: 261 About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990.
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