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The MReport Webcast: Wednesday 12/9/2015

The Federal Open Market Committee will convene next week for the last time this year and are expected to sweep the industry with a change to the federal funds rate, something that has not been done since June 2006. Title agents in the mortgage industry believe that first-time homebuyers will be impacted the most in the next year if interest rates are raised.

First American Financial Corp., showed in its fourth quarter Real Estate Sentiment Index that most title agents believe more first time buyers will purchase homes in the next year. In addition, the index found that these sale transactions will move up homebuyers. According to the index, interest rates would need to rise to 5 point 1 percent to derail primary residential transaction volumes.

A recent survey from Redfin showed that home sellers are losing a bit of their ground in the housing market in the fourth quarter of 2015, therefore placing the advantage in the hands of buyers. Only 6 point 3 percent indicated that sellers had all the power in the housing market in the fourth quarter, a huge drop from 35 point 5 percent in the first quarter 2015. The survey also found 51 point 7 percent of agents revealed that sellers are more advantageous in the market than buyers, up from 42 point 4 percent in the first quarter.

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.

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