Summit Sotheby’s International Realty has cemented its position as a leading Utah brokerage, placing more real estate professionals on the 2026 RealTrends Verified rankings than any other firm in the state. The firm represented 39 of Utah’s top 100 agents by sales volume and 40% of the state’s top 25 agents. That includes the No. […]

Mortgage applications for new home purchases rose 3.8% year over year in May but fell 3% from April, according to the Mortgage Bankers Association (MBA)’s Builder Application Survey, released Thursday. The figures are not seasonally adjusted. New home purchase activity softened during the month, with the MBA estimating new home sales at a seasonally adjusted

Mortgage rates spiked yesterday after the Fed announcement. The primary driver was the Fed’s revised outlook for potential rate hikes later this year. Because the Fed Funds Rate governs ultra-short-term transactions (24hrs or less), it has the biggest impact on the shortest-term debt and a diminishing impact on longer term debt. While the typical mortgage