Orlando, FL

June is generally a peak month for home sales, but you wouldn’t know it based on the record-high rate of contract cancellations last month. According to a recent report from real estate brokerage Redfin, 56,000 purchase agreements were canceled last month, or about 15% of all pending sales transactions. This is the highest cancellation rate for June since Redfin started tracking the metric in 2017. (The all-time high percentage of voided contacts occurred in March 2020, when pandemic quarantines went into effect and homebuyers canceled 17.6% of all sales contracts.)

Homebuyers Are Backing Out of Deals at a Record Pace

Mortgage rates have come down with recent positive inflation news. However, they are still higher than they were six months ago. I think rates are on the verge of going lower. Will consumers respond? I expect that mortgage rates under 6.75% and moving towards 6.5% will shake homebuyers into action, but we certainly can’t see it in the data yet.

Housing demand stalls as buyers wait for lower rates

New York Post

US existing home sales fell more than expected in June as the median house price set another record high, but improving supply and declining mortgage rates offered hope that activity could rebound in the months ahead.

Home sales dropped 5.4% last month to a seasonally adjusted annual rate of 3.89 million units, the lowest level since December, the National Association of Realtors said on Tuesday. Economists polled by Reuters had forecast home resales would slip to a rate of 4 million units.

Home resales, which account for a large portion of US housing sales, declined 5.4% on a year-on-year basis in June. 



The median existing home price soared 4.1% from a year earlier to an all-time...

Home sales slump in June, signaling buyer’s market as prices hit another record high

Business Insider

Home prices increased somewhat last year, and they're expected to tick up a bit in 2024 as well. Here's why we probably won't see home prices drop in 2024.

Will home prices drop in 2024?

TheStreet

Mortgage lenders see more homes bought and sold when — and if — the Federal Reserve starts cutting rates.

Mortgage rates just had a huge drop

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NewsByJoshua

Rite Aid is making headlines again, but unfortunately, not for the best reasons. The essential pharmacy chain is closing a staggering 400 stores, a major uptick from the 143 closures initially planned when it filed for Chapter 11 bankruptcy last October.

A large retail chain is shutting down hundreds stores after going through Chapter 11 bankruptcy

Lancaster County, PA

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

Maryland State

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Fairfax County, VA

Washington, DC

Cheryl E Preston

The Bunny Man is an ever-evolving urban legend. The story originated from two documented incidents in 1970 in Fairfax County, Virginia, where a man in a rabbit suit attacked people in different locations. In both situations, he yelled that his victims were trespassing.

The Bunny Man legend was based on real events and continues to evolve over the decades

Devra Lee

Disclaimer: This content was written by Devra Lee for general informational and entertainment purposes only. This service is to provide astrological information that has been researched, recorded, and observed by the author.

Horoscope of the day, Friday, July 26th

Virginia State

History Facts lists eight names US parents no longer give their newborns, which you may no longer hear in Virginia. The girls' names are Doris, Gertrude, Mildred, and Judith. I know or have known women with all four names, but they are either baby boomers or boomer parents' ages and someone's grandma or great aunt. Consider the ages of females in Virginia you know with these names.

Eight names parents in Virginia may no longer be giving to their newborns

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

California State

In a concerning trend for California, numerous large companies are gearing up for significant layoffs, affecting thousands of workers across various industries. According to the WARN Tracker, California has seen a staggering 37,086 WARN layoffs this year alone, impacting 713 businesses statewide.

Concerns Rise as Massive Layoffs Hit California

Denver, CO

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David Heitz

A dangerous drug that is being mixed into fentanyl is causing those who inject it to develop a rash of sores that resembles a case of flesh-eating bacteria. People experiencing homelessness around Denver can sometimes be seen with these bloody, weeping wounds. I recently mentioned this phenomenon to a fentanyl user who told me about the xylazine connection.

Denver homeless people suffer sores as xylazine enters fentanyl supply

The company announced concurrently its decision to purchase Flagstar Bank's servicing and TPO operations for $1.4B. Mr. Cooper Group reported strong net income of $204 million in the second quarter, a 12% bump from the first quarter ($181 million). The company also announced its agreement to purchase Flagstar Bank’s mortgage servicing and third-party origination (TPO) platform for $1.4 billion.

Mr. Cooper Posts Strong Second Quarter Earnings

Illinois State

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

Washington State

Mill Creek, WA

Timothy A Gruver

The Washington State Department of Labor & Industries reported on Wednesday that it fined four roofing contractors more than a million dollars for letting their workers perform on top of homes without fall protection gear, among other safety violations.

Roofing Companies Fined $1.27M for Endangering Workers

WyoFile

The woman who shot a video of a hydrothermal explosion in Yellowstone National Park on Tuesday morning told WyoFile she and her family were terrified as the blast sent boiling water and rocks skyward, destroying parts of a boardwalk, its guardrail and a nearby bench.

Yellowstone hydrothermal explosion: ‘We were terrified’

Minnesota State

DayTripper

The hit History Channel series "American Pickers" is gearing up for an exciting return to Minnesota this fall. The show's production team has announced plans to film episodes throughout the state in September 2024, offering locals a chance to showcase their unique collections and share their stories with a national audience.

"American Pickers" Set to Unearth Minnesota's Hidden Treasures

Ronkonkoma, NY

The New York Post reveals that two men who died in a plane crash at MacArthur Airport were from Virginia. The men had been visiting friends in Long Island and were returning home when the tragedy occurred.

Life partners from Virginia have been identified as the victims of a New York plane crash

In Virginia, Drinking in public or offering another person alcohol in a public space is prohibited. This is a class 4 Misdemeanor punishable by a fine of up to $250.00. Under a new law that goes into effect on July 1, this will change to a degree.WDBJ7 reports that the prohibition on drinking or offering an alcoholic beverage to someone else in public will no longer apply under the following conditions.

Drinking in public will no longer be prohibited on private Campgrounds in Virginia beginning July 1

NewsBreak

Although existing home prices hit a new peak in June, rates are trending down and inventory is up from a year ago.

Weekly Mortgage Rates Ticked Up, but Overall Trend Remains Down. Mortgage rates edged slightly higher in the week...

Although existing home prices hit a new peak in June, rates are trending down and inventory is up from a year ago.

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