NYT: NAR’s nonprofit funds conservative groups

💻 Wednesday is upon us, and we are back to talk about NAR’s political donations, how Americans feel about their jobs in 2024, and mortgage rate forecasts for 2025. 

1. NYT: NAR’s nonprofit funds conservative groups

The New York Times has published another investigative feature on the National Association of Realtors (NAR), this time focusing on the political donations of its nonprofit affiliate, the American Property Owners Alliance.

Unlike NAR’s political action committee that divides its financial support between Democrats and Republicans, the Times found that the NAR-funded American Property Owners Alliance allocated $12.8 million in grants after its creation in 2020, with nearly $10 million going to Republican-aligned super PACs and groups with conservative agendas.

Of the groups who received grants, only the Republican-aligned Americans for Tax Reform, which received $25,000, identifies promoting housing or property rights as one of its goals.

2. How Americans feel about their jobs in 2024

A recent survey shows that, amid low nationwide unemployment, employees feel secure in their jobs, with relatively few planning to seek new employment in the coming months.

• However, only half of workers report being extremely or very satisfied with their jobs overall. Satisfaction with pay is even lower, with just 30% of workers feeling highly satisfied—down from 34% last year.

The survey, conducted from October 7 to 13 among 5,273 employed U.S. adults, also explores workers’ views on various aspects of their jobs, including the importance of specific skills and the availability of opportunities for further training.

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3. More Nuggets

⛓️‍💥 Fannie Mae blacklists Sevenstone, Eastern Union. (TheRealDeal)

🎶 Potential TikTok ban looms, forcing mortgage LOs to pivot. (HousingWire)

🏆 Mapped: Birthplaces of Heisman Trophy winners. (Axios)

🏘️ New York City approves a plan to create 80,000 new homes. (NYGov)

📉 Mortgage credit availability decreased in November. (MBA)

4. Mortgage rate forecasts for 2025

On average, mortgage rates are projected to reach 6.34% by the end of 2025. Here is a breakdown of each firm’s prediction:

5. Consumers feel optimistic mortgage rates will fall

A new record-high share of potential homebuyers now believe mortgage rates will decline in the next 12 months as consumers acclimate to current market conditions.

The Fannie Mae Home Purchase Sentiment Index (HPSI) rose to 75 in November, marking a 10.7-point increase from the same time last year. The share of consumers who believe mortgage rates will decrease over the next year climbed to 45%, up from 39% the previous month. Fewer respondents expect home prices to rise, with 38% predicting increases compared to 39% in October.

6. 1 fun thing: Free way to show a little love

☀️ You’re all caught up. See you on Friday!

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