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Average US rate on a 30-year mortgage falls to 6.62%, easing for the third week in a row
The average rate on a 30-year mortgage in the U.S. declined for the third week in a row, another positive move for prospective homebuyers during what’s traditionally the housing market‘s busy season. The rate fell to 6.62% from 6.64% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.88%. The […]
Virginia Realtors has a new CEO
Rick Lugg is Virginia Realtors’ new CEO, effective immediately, the trade organization announced Friday. The association’s longtime chief financial officer and chief operating officer, Lugg replaces Terrie Suit, who retired last fall. Martin K. Johnson, Virginia Realtors’ chief external affairs officer, served as interim CEO. Glen Allen-based Virginia Realtors represents nearly 3[...]
House of cards
Working as a mortgage lender in Roanoke for the past 18 years, Jason Bialek experienced everything from the financial crash of 2008 to the historic spike in home sales during the COVID-19 pandemic. Following that bonanza in 2020, though, Bialek and others in the residential real estate industry will probably look back at this period […]
Real Estate 2023: TERRIE L. SUIT
When Suit started her career, she worked for a builder, then became a Realtor and later a mortgage loan officer. Today, after serving as the state’s first secretary of Veterans Affairs and Homeland Security, as well as a Republican state delegate for eight years, Suit now leads Virginia’s largest trade association. She advocates for 38,000 […]
Real Estate 2023: LAURA D. LAFAYETTE
Established in 1874, RAR is Central Virginia’s largest trade association, serving more than 5,000 Realtors in the region. A Richmond native and a champion for affordable housing, Lafayette has been with the association for more than 16 years and also serves as CEO of the region’s Multiple Listing Service. In 2022, Lafayette received the Beverly […]
Real Estate 2023: RYAN T. McLAUGHLIN
One of the largest regional Realtor associations in the United States, the Northern Virginia Association of Realtors represents approximately 13,000 real estate professionals transacting more than $18 billion in sales annually in the Washington, D.C., metro area. McLaughlin became its CEO in 2015, after serving as CEO of Greater Lehigh Valley Realtors in Pennsylvania. A […]
Va. home sales down 20% from a year ago
Virginia home sales were down 20.3% in February compared with the same month last year, marking the 15th consecutive month of declining sales, according to a Virginia Realtors report released March 21. Home sales in the commonwealth last month totaled 6,505, a decrease of 1,655 sales from February 2022. The Northern Neck and parts of […]
Median home prices rose 9% in Va. since 2021
The cost of buying a home in Virginia increased nearly 9% in the past year, according to a March 21 report from Virginia Realtors. The statewide median sales price in February was $350,000, or $28,550 higher than it was in February 2021. That’s an 8.9% increase and the sharpest gain since June 2021. Not only […]
