1. Mortgage Rates Climb Mortgage rates soared last week after the Federal Reserve suggested it could start tapering bond purchases this year, with the popular 30-year fixed-rate mortgage rate hitting the highest level in almost two years, according to data released last Thursday. The average rate for the 30-year fixed-rate mortgage rose to 4.46% in the week ending June 27 – the highest rate since July 2011, and up from 3.93% in the prior week, Freddie Mac said in its weekly report. The latest weekly result is also the first time the rate has reached above 4% since March 2012. That increase of 53 basis points is the largest weekly change since 1987. A year ago, the 30-year rate averaged 3.66%. Despite recent rate gains, housing affordability remains relatively high, and economists say an improving economy should help the housing market continue to rebound this year.

2. Weekly HAR Market Stat Consumer confidence, prices, sales and percent of list price received at sale are all generally on the ups. This has been a nice place to be for real estate practitioners. In terms of expecting the unexpected trends, economists suggest tuning into indicators such as jobs, stocks and Federal Reserve policy decisions. The keen industry professional deserves the most up-to-date stats for daily decision making. Read on for this week's deserved sneak peek. In the Houston region, for the week ending June 23: New Listings increased 6.8% to 2,479 Pending Sales increased 34.5% to 2,100 Closed Sales increased 10.5% to 1,652

3. Questions? 713-629-1900 ext. 6 Getting Down to Brokerage Basics Register at www.har.com/edu Broker Responsibility The purpose of this course is to address the regulatory aspects of the management, operation and supervision of a real estate brokerage firm in Texas. This course provides an understanding and working knowledge of the law of agency, planning and organization of business entities, requirements for written policies and procedures, records retention and control, advertising, recruitment and training of agents, and the anatomy of a complaint filed with Texas Real Estate Commission (TREC). Date: Wednesday, July 17 Time: 8:30 a.m. – 3:30 p.m. Location: HAR Fort Bend Investment: $50