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Vol. 10 No.6
February 26, 2018
www.csrej.com
Climbing mortgage rates reach 4-year high Mortgage rates continued to inch higher this month, marking the sixth consecutive week for borrowing cost increases for home shoppers. “Wednesday’s Consumer Price Index report showed higher-than-expected inflation; headline consumer price inflation was 2.1 percent year-over-year in January, two-tenths of a percentage point higher than the consensus forecast,” explains Len Kiefer, Freddie Mac’s deputy chief economist. “Inflation measures were broad-based, cementing expectations that the Federal Reserve will go forward with monetary
tightening later this year. Following this news, the 10-year Treasury reached its highest level since January 2014, climbing above 2.90 percent. Mortgage rates have also surged.” After jumping 10 basis points last week, the 30-year fixed-rate mortgage rose 6 basis points to 4.38 percent, its highest level since April 2014. Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 15: • 30-year fixed-rate: averaged 4.38 percent with an average 0.6 point, rising from last
week’s 4.32 percent average. Last year at this time, 30-year rates averaged 4.15 percent. • 15-year fixed-rate: averaged 3.84 percent, with an average 0.5 point, increasing from last week’s 3.77 percent average. A year ago, 15-year rates averaged 3.35 percent. • 5-year hybrid adjustable-rate: averaged 3.63 percent, with an average 0.4 point, rising from last week’s 3.57 percent average. A year ago, 5-year ARMs averaged 3.18 percent. © Copyright National Association of Realtors Reprinted with permission.
RE/MAX CEO Dave Liniger steps down Contos served as COO of RE/MAX Holdings prior to being named as coCEO in May 2017. He joined the com- Adam Contos, new RE/MAX CEO pany in 2004. He worked with franchisees and agents in the Mountain States region and was promoted to region vice president the following year. He has served as region vice president for RE/MAX from coast to coast and as a senior vice president of marketing. “I am honored to lead RE/MAX Holdings at this important time in our history,” Contos says. “As we head into this next chapter, I am ex-
cited about the prospects for continuing our successful momentum, driven by our outstanding business model, brand strength, competitive advantages, and the most dynamic brokers and agents in the industry.” Liniger will now become a nonexecutive chairman on the RE/MAX Holdings Board. Liniger has a long role at RE/ MAX. He co-founded the global real estate franchise with his wife, Gail, in 1973. He has been a steadfast advocate of advanced training and education within the real estate industry.
A Denver real estate startup wanted to get consumers’ attention at its launch into the Seattle market, so it placed about 1,500 cutouts of small green pigs all over the city, from parks to college campuses and even at the airport. The brokerage, Trelora, certainly got the city’s attention, but not in the way they intended. The green pig marketing ploy instantly backfired as residents took to social media to voice their anger. One Reddit poster wrote: “You should know that you have read our region wrong. This is not the sort of thing we respond well toward. We take our parks very seriously and are so proud of them, that to see them used for free advertising is insulting.” Others posted comments on the brokerage’s “Seattle Green Pigs” Facebook page accusing the brokerage of littering and calling the campaign an “ill-informed marketing idea.” Some posted pictures of themselves gathering up the pigs to trash them.
See RE/MAX | Page 2
Banning Lewis Ranch Realtor Rally
YPN Winter Gala
HBA Breakfast w/ the Builders
Jay Gupta's January Housing Stats
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RE/MAX co-founder Dave Liniger has stepped down as CEO of the franchise giant. RE/MAX began its leadership succession plan last May, when the company named Adam Contos as co-CEO with Liniger. “The Board of Directors is pleased that Adam will lead RE/MAX Holdings in its next stage of growth,” says Richard Covey, the board’s lead director. “He is a talented and respected RE/MAX Holdings executive who combines in-depth knowledge of the industry with an equally strong desire to drive RE/MAX forward and build on its success by leveraging technology and focusing on innovation.”
Denver brokerage’s pig stunt annoys Seattle residents
See Green Pigs | Page 5
National News............ Page 2 Local News................ Page 8 On the Move.............. Page 13 Local Expert.............. Page 14 Around the Corner....... Page 15
Honest & Ethical Service from People You Know. Debbie Havens
Joe Drew
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