80.4 F
Houston
Thursday, May 15, 2025

Home Blog Page 331

Tom Brady says he’s retiring ‘for good’ after 23 seasons in NFL with Buccaneers, Patriots

0

Tom Brady announced Wednesday morning in a social media post that he is walking away from the NFL after 23 seasons with the New England Patriots and Tampa Bay Buccaneers.

The declaration came exactly a year after Brady announced his retirement in 2022, only to change his mind 40 days later. Choking up as he announced his plan, TB12 insisted this time, it was for good.

“Good morning, guys. I’ll get to the point right away. I’m retiring. For good,” he said. “I know the process was a pretty big deal last time, so when I woke up this morning, I figured I’d just press record, and I’d let you guys know first. It won’t be long-winded. You only get one super emotional retirement essay, and I used mine up last year. So I really thank you guys so much. To every single one of you for supporting me: My family, my friends, my teammates, and my competitors I could go on forever. There are too many. Thank you guys for allowing me to live my absolute dream. I wouldn’t change a thing. I love you all.”

Brady will be eligible for the Pro Football Hall of Fame Class of 2028.

Famously a sixth-round pick of the 2000 NFL Draft, 199th overall by the Patriots, Brady flashed an unparalleled competitive drive that fueled his Hall of Fame career. Brady took over as the Patriots’ full-time starter during his second NFL season and never looked back, filling his trophy case along the way.

Brady retires a seven-time Super Bowl champion, three-time NFL MVP, five-time Super Bowl MVP, two-time NFL Offensive Player of the Year, three-time first-team All-Pro honoree, three-time second-team All-Pro, 15-time Pro Bowler and 2009 Comeback Player of the Year winner. He was named to the NFL’s 2000s and 2010s All-Decade Teams and the NFL’s 100th Anniversary All-Time Team.

The greatest of all time ranks No. 1 in NFL history in completions (7,753), pass attempts (12,050), yards (89,214), passing TDs (649), starts (333), QB wins (251), Pro Bowl nods (15) and Super Bowl MVPs (five). Brady led the NFL in passing TDs five times (2002, 2007, 2010, 2015, 2021), the most such seasons by any player in NFL history.

In a team sport, no single player defined winning like Brady. In his 23-season career, Brady made 20 postseason appearances, started 48 games, earned 35 wins, 10 Super Bowl appearances, seven Super Bowl victories, 1,200 postseason completions, 13,400 playoff passing yards, 88 postseason passing TDs, 14 game-winning drives, and nine fourth-quarter comebacks, all most in NFL history.

Brady suffered the first losing season of his career after returning in 2022 but still made the postseason after helping the Bucs win the NFC South. He set NFL records with 490 completions and 733 pass attempts, both most in a single season in league history. The campaign might not have been Brady’s best, and certainly wasn’t his prettiest, but he wasn’t the reason the Buccaneers struggled. Even at 45 years old, Brady showed he could still sling it when protected. Without TB12, the Bucs would be picking in the top 10. Instead, they made the postseason, where they fell in a wild-card game to the Cowboys.

“Tom’s impact on our franchise these past three years has been immense and we are appreciative of the time we had with him here in Tampa Bay,” the Glazer family, who own the Buccaneers, said in a statement. “He set an exceptional standard that elevated our entire organization to new heights and created some of the most iconic moments in our history.”

The famously slow quarterback out of the University of Michigan built a career out of proving people wrong. He might not have been the most gifted player the NFL has ever seen, but no one won on the edges better than Brady. A relentless, maniacal drive led TB12 to conduct his entire life with that goal: becoming the greatest on the biggest stage. He didn’t have otherworldly athleticism, but no one maneuvered the pocket better than Brady. His pinpoint accuracy and gorgeous deep ball were the stuff of legend.

Brady might not have provided the dashing runs of Lamar Jackson or the ridiculous off-platform plays of Patrick Mahomes, but his greatness under pressure, in the crucible of the biggest moments, was unparalleled. Every time Brady had the ball late trailing, we expected a comeback. Even in his final seasons, Brady was masterful at dragging his club back from the abyss time and time again. That talent might never be matched again.

“Tom Brady was the ultimate winner,” Patriots head coach Bill Belichick said in a Wednesday statement. “He entered the NFL with little to no fanfare and leaves as the most successful player in league history. His relentless pursuit of excellence drove him on a daily basis. His work ethic and desire to win were both motivational and inspirational to teammates and coaches alike. Tom was a true professional who carried himself with class and integrity throughout his career. I thank Tom for the positive impact he had on me and on the Patriots and congratulate him on his amazing career.”

After making what he called a hasty decision to retire so soon after last season, before ultimately changing his mind, Brady stuck with the same timeline, announcing his retirement on Feb. 1.

Playing until he was 45 years old was always Brady’s target year. He made it. Given his ability and drive, it was presumed he’d continue to play through that self-imposed barrier for at least one or two more seasons. The man who stiff-armed Father Time his entire career would have had plenty of suitors lined up in the free agency.

Instead, he’ll close the lengthy book on his storied career and begin writing his next epic.

Source: nfl

Houston Texans hire DeMeco Ryans as Head Coach

0

The Houston Texans have hired DeMeco Ryans as the team’s sixth head coach in franchise history.

STATEMENT FROM CAL MCNAIR:
“We are thrilled to welcome DeMeco Ryans as the new head coach of the Houston Texans. For so many reasons, DeMeco is everything we are looking for in a leader and coach for our organization. He has a proven track record for developing high-quality players and constantly innovated his defensive scheme over the last six seasons in San Francisco. We started this process with the goal of finding someone our fans and city can be proud of and we’ve done just that. While we received a lot of incredible feedback and support for DeMeco from different people, it was our discussions with him and his vision for our football team that made him the right coach to lead us as we continue to evolve as an organization. Congratulations to DeMeco and his family and welcome back to H-Town.”

STATEMENT FROM NICK CASERIO:
“On behalf of the entire Texans organization, I would like to welcome DeMeco Ryans and his family back to Houston. DeMeco is a proven coach with a track record of success who has an innate ability to lead people. He is progressive in his vision, a great communicator, a connector and somebody that values collaboration. We are working to build a sustainable program that has long-term success and DeMeco is the Coach we feel is the best fit to help us achieve our goals. We know how important it is to get results now and we have a lot of work to do, but I’m excited to partner with DeMeco to build our football team together.”

STATEMENT FROM DEMECO RYANS:
“I’d like to first thank the San Francisco 49ers, Kyle Shanahan and John Lynch for six incredible seasons where I grew as a coach and a man. I couldn’t be prouder of what we accomplished together, and I will always cherish the relationships I built there. Being the head coach of the Houston Texans is my dream job and my family is thrilled to be back in H-Town. I have been around the game of football my entire life and I’ve always had a natural ability to lead others. I know what it takes to win and be successful in this league as both a player and coach. We’re going to build a program filled with players who have a special work ethic and relentless mindset. I understand the responsibility I have to this organization and to the fans of Houston to build a winner and I can’t wait to get to work.”

Ryans was named the 2022 Pro Football Writers of America Assistant Coach of the Year. He recently completed his sixth season with the San Francisco 49ers and second as the team’s defensive coordinator, helping lead the team to the NFC Championship. He spent the previous three seasons (2018-20) as the 49ers inside linebackers coach, while serving as the team’s defensive quality control coach in 2017.

Originally drafted in the second round (33rd overall) by the Houston Texans in the 2006 NFL Draft, Ryans played for Houston (2006-11) and the Philadelphia Eagles (2012-15). He was a team captain for the Texans’ 2011 season, a squad that claimed the franchise’s inaugural AFC South title and playoff berth. Ryans holds the Texans record for the most tackles by a rookie (156) and currently sits as the second-leading tackler in franchise history (636).

In his second season as defensive coordinator, the 49ers defense ranked first in total defense (300.6 yards/game), total points allowed (277) and points allowed per game (16.3) in the 2022 regular season. San Francisco’s defense allowed just 37 red zone trips, the fewest in the league. The 49ers limited explosive plays, allowing the fewest plays of 10-or-more yards (168), while holding opponents to the fourth-fewest yards per play overall (4.98 yards). Additionally, San Francisco allowed the second-fewest first downs (291) and first down yards (4.69 yards) on the season. The defense recorded 20 interceptions on the season, tied for the most in the NFL, while their seven returns of 20-or-more yards tied for second-most. Ryans guided a San Francisco defense that forced three-and-outs on 27.3 percent of their opportunities, fourth-highest in the NFL, while registering 44.0 sacks, tied for 10th in the league.

In his first season as defensive coordinator in 2021, the 49ers defense allowed 310.0 total yards per game, ranking third in the NFL. San Francisco also surrendered the sixth-fewest passing yards per game (206.5). The 49ers saw eight different players record an interception on the season, while forcing 22 fumbles on defense, the most in the NFL and the most in a single season by the 49ers since 1994.

In 2020, Ryans helped the 49ers defense rank fifth in the NFL total yards allowed per game (359.0) and seventh in rush defense (118.9). The previous year, Ryans helped guide San Francisco’s second-ranked defense in total yards allowed per game (281.8), the fewest total yards allowed per game by the team since 1997 (250.8). The 49ers defense also ranked first in the NFL in forced fumbles (21) and sixth in takeaways (27).

Over the course of his career in San Francisco, Ryans coached players such as DL Nick Bosa, LB Fred Warner and DB Talanoa Hufanga to career seasons. Under Ryans’ leadership, Bosa was named the NFL Defensive Rookie of the Year (2019), first-team All-Pro honors (2022) and three Pro Bowl selections (2019, 2021, 2022), Warner earned two first-team All-Pro honors (2020, 2022) and two Pro Bowl nods (2020, 2022), while second-year player Hufanga also earned first-team All-Pro and Pro Bowl nods this season.

During his 10-year playing career, Ryans was named AP Defensive Rookie of the Year and PFWA Rookie of the Year in 2006, first-team All-Pro in 2007 and was selected to the Pro Bowl in 2007 and 2009. He appeared in 140 career games (139 starts) throughout his career and registered 970 tackles, 46 passes defensed, 13.5 sacks, seven forced fumbles, 10 fumble recoveries and seven interceptions.

A native of Bessemer, Ala., Ryans played linebacker at the University of Alabama (2002-05). As a senior, he was a unanimous All-American selection, SEC Defensive Player of the Year and earned first-team All-SEC honors in 2005. Ryans also earned defensive MVP honors in the 2006 Cotton Bowl and was selected as the 2005 Lott Trophy recipient for his combination of athletic excellence and off-field achievements.

Source: houstontexans

The Annual BBP Regatta Returns for its 51st Year

0
After celebrating its half-century anniversary last year, the Buffalo Bayou Partnership Regatta is still going strong as the largest canoe and kayak race in Texas! Every year, hundreds of paddlers take part in this long-standing Houston tradition in support of Buffalo Bayou Partnership.
WHAT
The 51st Buffalo Bayou Partnership Regatta presented by Gillman Subaru takes place on March 11! Participants ages 12 and older can compete in solo, tandem, or unlimited boating categories, or paddle for fun along a 15-mile stretch of Buffalo Bayou.

Spectators are invited to cheer along the race route, and finish line festivities will begin at Allen’s Landing at 11am, with an awards ceremony, refreshments, and activities provided by local businesses and sponsors. Food and drink will also be available to purchase.

See photos from last year’s event here.

WHEN
Saturday, March 11, 2023
7:30 a.m.-2:30 p.m.

WHERE
Starting Line: 7700 San Felipe St. (just west of Voss)
Finish Line: Allen’s Landing, 1019 Commerce St.

REGISTRATION
$55 per paddler (before February 24)
$60 per paddler (on/after February 24)
$65 per paddler day of registration on March 11
Discounts are available for BBP Members, military, and students (with valid ID)
Registration does not include kayak or canoe rental.

MORE INFORMATION
In addition to individual registration, Team Sponsorship is a great way to support Buffalo Bayou Partnership. Team Sponsors receive all equipment needed at the start of the race, including canoes, paddles, and life jackets, plus special recognition and perks.For more information about sponsorship, contact Leigh McBurnett at lmcburnett@buffalobayou.org.

Trophies are awarded to the top three winners in each canoe and kayak division. For more information about the race rules or registration, please visit www.buffalobayou.org or contact Trudi Smith at tsmith@buffalobayou.org.

The Buffalo Bayou Partnership Regatta is rain or shine. If a cancellation takes place due to severe weather or water conditions, all entry fees will be considered a tax-deductible donation to Buffalo Bayou Partnership and used in our efforts to continue stewarding Buffalo Bayou.

# # # #
About Buffalo Bayou Partnership
Established in 1986, Buffalo Bayou Partnership is the non-profit creating and stewarding welcoming parks, trails, and unique spaces, connecting Houstonians with our city’s most significant natural waterway. The organization’s geographic focus is the 10-square mile stretch of the bayou that flows from Shepherd Drive, through the heart of downtown into the East End, and onto the Port of Houston Turning Basin. BBP creates and cares for inclusive public spaces such as Buffalo Bayou Park, constructs hike and bike trails, and removes trash from the waterway. Buffalo Bayou Partnership also activates the bayou through unique programs, public art, volunteer events and recreational opportunities that enrich the quality of life in Houston.
Buffalo Bayou Partnership creates and stewards welcoming parks, trails, and unique spaces, connecting Houstonians with our city’s most significant natural waterway.

Premio Lo Nuestro 2023

0

La edición 35 de Premio Lo Nuestro tiene siete nuevas categorías, para totalizar 39, y será el 23 de febrero cuando conoceremos a las ganadores, quienes serán elegidos por el voto del público. No te pierdas la transmisión en vivo de la ceremonia y el especial Noche de Estrellas desde el Miami-Dade Arena, todo por la señal de Univision.

La fecha límite para votar es el último minuto del domingo 5 de febrero y los premios se entregarán en una ceremonia transmitida por Univision.

¿Quiénes son los artistas más nominados de Premio Lo Nuestro 2023?

Este año el colombiano Sebastián Yatra es el artista más nominado, con 10 candidaturas, seguido de Bad Bunny, Becky G, Camilo y Grupo Firme con 9 nominaciones cada uno y otras figuras en el grupo selecto de los artistas más nominados.

Será el 23 de febrero cuando se conocerá a los ganadores de Premio Lo Nuestro en la gran gala que se realizará en el Miami-Dade Arena y será conducida por Alejandra Espinoza, Adrián Uribe, Paulina Rubio y Sebastián Yatra.

Premio Lo Nuestro 2023 tiene siete nuevas categorías

Este año la fiesta de la música latina tiene siete nuevas categorías con el objetivo de reconocer el talento de todos los géneros musicales. En total entregará premios en 39 categorías.

-Tour Del Año, categoría en la que están nominados: Camilo, por De Adentro Pa Afuera World Tour; Los Ángeles Azules, por De Iztalapa Para El Mundo Tour; Sebastián Yatra y su Dharma World Tour; Bad Bunny, por El Último Tour Del Mundo & World’s Hottest Tour; Grupo Firme, con Enfiestados y Amanecidos Tour; Wisin y Yandel, por La Última Misión World Tour; Daddy Yankee, con La Última Vuelta World Tour; Rosalía y su Motomami World Tour; Maluma, por Papi Juancho World Tour y Karol G por $trip Love Tour.

-Artista Pop Masculino Del Año con los siguientes nominados: Camilo, Carlos Rivera, Chayanne, Enrique Iglesias, Luis Fonsi, Maluma, Pedro Capó, Ricky Martin, Sebastián Yatra y Tommy Torres.

-Artista Pop Femenina Del Año con las nominadas: Camila Cabello, Christina Aguilera, Ednita Nazario, Gloria Trevi, Kany García, Laura Pausini, Paulina Rubio, Shakira, Sofía Reyes y Yuri.

-Álbum Del Año Tropical en el que están nominadas 10 producciones: ‘Cumbiana II’, de Carlos Vives; ‘De Menor A Mayor’, de Gente De Zona; ‘De Trulla Con El Combo’, de El Gran Combo de Puerto Rico; ‘Debut Y Segunda Tanda, Vol. 1′, de Gilberto Santa Rosa; ‘Lado A Lado B’, de Víctor Manuelle; ‘Luis Figueroa’, de Luis Figueroa; ‘Mi Muchachita’, de Elvis Martínez; ‘Pa’ Lla Voy’, de Marc Anthony; ‘Resistirá’, de Milly Quezada y ‘Tañón Pal’ Combo Es Lo Que Hay’ de Olga Tañón.

-Artista Masculino Del Año – Regional Mexicano: Adriel Favela, Alfredo Olivas, Carin León, Christian Nodal, Edén Muñoz, El Fantasma, Gerardo Ortiz, Joss Favela, Lenin Ramírez y Pepe Aguilar.

-Artista Femenina Del Año – Regional Mexicano: Aída Cuevas, Ana Bárbara, Ángela Aguilar, Carolina Ross, Chiquis, Flor de Toloache, Las Marías, Lupita Infante, Majo Aguilar, Yuridia.

No te pierdas la transmisión en vivo por Univision el próximo jueves 23 de febrero a partir de las 7P/6C con el especial Noche de Estrellas, para que seas testigo del arribo de los invitados y nominados por la alfombra magenta. Este evento también podrá seguirse en las redes sociales, para que disfrutes de lo mejor de la alfombra estés donde estés.

Source: univision

Feb 02 – Feb 08, 2023 | Weather

0

¡Que Onda Magazine!

El Líder del Clima.

Mantente informado.

Click on the map to view details or click here: QOHW0202

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

¡Que Onda! Magazine Houston – edición 1256

Gracias por SEGUIRNOS, este artículo contiene la edición 1256 de la revista digital de HOUSTON de ¡Que Onda! Magazine.

Del 02 de febrero al 08 de febrero del 2023

 

WANTED FOR BURGLARY OF A BUILDING

0

 

 Crime Stoppers and the Houston Police Department’s Property and Financial Crimes Division need the public’s assistance in identifying the suspects responsible for a Burglary of a Building.

On Thursday, November 10, 2022, at approximately 12:42 a.m., two unknown suspects burglarized a building located in the 900 block of Texas St. in Houston, Texas. During the incident, the suspects forced entry into the location and stole equipment totaling approximately $5,490. The suspects fled in an unknown direction of travel.

Crime Stoppers may pay up to $5,000 for information leading to the identification, charging and/or arrest of the suspect in this case. Information may be reported by calling 713-222-TIPS (8477), submitted online at www.crime-stoppers.org or through the Crime Stoppers mobile app. Only tips and calls DIRECTLY TO Crime Stoppers are anonymous and eligible for a cash reward.

SUSPECT 1
SUSPECT 2
REPORT A TIP NOW

Harris Co. Judge Lina Hidalgo, Mayor Turner subpoenaed over A.J. Armstrong’s change of venue hearing

0

A variety of Houston-area lawmakers, judges, and elected officials have been called to a courtroom Monday as a hearing gets underway to help determine if A.J. Armstrong’s third murder trial should remain in or move out of Harris County.

ABC13 first reported on the rare move of having the judge, in this case, be the one to file a motion to move the case out of the county after Armstrong’s first two trials ended in hung juries.

Harris County Judge Lina Hidalgo and Houston Mayor Sylvester Turner are two of the nine witnesses being subpoenaed to appear on behalf of Armstrong’s defense team, which is bidding to keep his third murder trial set for February within the county.

ABC13 obtained documentation Friday showing the various elected officials being called upon.

The subpoenas were served in concert with Armstrong’s lawyers filing an objection to Judge Kelli Johnson’s motion to change the venue of the trial, which would be the third such proceeding since 2019.

The defense argues that 12 fair and unbiased jurors can be found in among the diverse 4.7 million people who call Harris County home. In paperwork filed by the defense, attorneys point out previous highly-publicized local cases that gained national attention, yet stayed in Harris County for trial, like the David Temple murder case. Temple was convicted of murdering his pregnant wife Belinda in 1999, during his second trial here.

The nine witnesses are being called to testify about how diverse the county is and that it’s the best place to have a fair trial for Armstrong, who wound up with two mistrials for the murders of his parents, Dawn and Antonio Armstrong Sr. in 2016.

The list of witnesses subpoenaed includes:

  • State Rep. Gene Wu, D-House District 137
  • Ed Gonzalez, Harris County Sheriff
  • Lina Hidalgo, Harris County Judge
  • Sylvester Turner, Houston Mayor
  • State Rep. Ann Johnson, D-House District 134
  • Marilyn Burgess, Harris County District Clerk
  • Rodney Ellis, Harris County Commissioner Precinct 1
  • Susan Brown, Presiding Judge, 11th Administrative Judicial Region
  • Adrian Garcia, Harris County Commissioner Precinct 2

Court paperwork shows the state has subpoenaed two witnesses, who we’re told are experts in cell phone technology. It’s unclear why prosecutors have called them to testify at a change of venue hearing.

All witnesses have been told to arrive for Monday’s hearing in time for the 1:30 p.m. gavel.

Source: abc13

Houston Man Sentenced to 35 Years for Killing Friend After Smoking Methamphetamine

0

A Houston man was sentenced to 35 years in prison this week after he was convicted of murder for shooting a friend after smoking methamphetamine, Harris County District Attorney Kim Ogg announced.

“This man was a menace who repeatedly chose to smoke meth and get violent,” Ogg said. “He threw away every second chance he was given and ended up stealing from a friend, leading to an argument resulting in that friend’s murder.”

Sean Strout, 36, was convicted of murder after four days of trial for killing 36-year-old Erron Walker on Oct. 14, 2017. He was sentenced to 35 years by a Harris County jury late Thursday.

Strout, a longtime acquaintance of the victim, went to the victim’s home with another man to socialize. Strout had been there the day before, and the victim believed Strout had stolen some money and a pair of sunglasses. The third man left as they started to argue over the stolen property.

A neighbor heard gunshots later that day and went outside to see the victim running out of his own garage as more shots rang out. Walker was fatally wounded in the altercation.

“Every witness, including the defendant, testified about what a caring and loving person the victim was — he would have given the shirt off his back to help a friend,” said Assistant District Attorney Chadwick Scott, who prosecuted the case with ADA Michael Abner, a chief in the trial bureau. “We’re proud that the jury recognized that Strout has left a trail of victims that he has impacted over the course of his life and decided to hold him accountable.”

Jurors heard that Strout was on probation for a robbery when he was arrested for murder. He had been arrested several times for drug possession and theft. While in jail awaiting trial, he was charged with assault for hitting another inmate with a sock with a weight in it. He also was charged with harassing a public official for throwing urine and feces on a corrections officer.

Some home builders are offering mortgage rates as low as 3%.

0

Home builders are playing hardball by offering mortgage rates as low as 3% on new homes to boost buyer demand

Home builders are playing hardball by offering mortgage rates as low as 3% on new homes to boost buyer demand. So how and why are they doing that?

For starters, home builders are feeling a lot less gloomy these days, as mortgage rates dip and buyer demand picks up. Mortgage demand surged on Wednesday, with buyers rushing in to catch a dip in rates.

“There is considerable pent-up demand for people to get into homeownership,” Jason Will, senior vice president of market growth at Embrace Home Loans, told MarketWatch. The lender is based in Newport, R.I., and generated over $6.5 billion in mortgages in 2022 for 20,000 homeowners.

Some builders are upping the ante by offering very low-interest rates for buyers.

In California, Pacific Point Communities is offering a 4-bedroom home at a mortgage rate “as low as 2.75%.”

In Texas, Pulte Homes is offering a 30-year fixed-rate mortgage at 4.25% for single-family homes from three to five bedrooms.

And in various parts of the country, K. Hovanian is offering a fixed-rate mortgage at 4.99%.

Yet, the 30-year fixed-rate mortgage is at 6.04%, according to Mortgage News Daily, which is still double where it was a year ago.

By offering to bring buyers’ mortgage rates down, these home builders are

How exactly can builders offer such low rates?

Home builders have more margin built into the financial model that allows them to offer bigger concessions to homebuyers, Embrace’s Will explained.

Margin refers to the profit builders make selling a new home, after accounting for construction costs, and other expenses.

“They’re able to use [that] to finance both permanent and temporary buydowns that allow for lenders to offer lower introductory rates,” Will continued.

A mortgage rate buydown is when a seller pays to cut the buyer’s mortgage rates by a certain number of points for a set number of years (or permanently).

The process is complex on the back end. Embrace Home Loans works months in advance with a builder to “lock in” mortgage rates with a forward commitment.

Once the builder comes to the lender and says they’re expecting a set number of buyers for their units, Embrace buys options, Will explained, and locks out rates before the homes are sold.

throwing out concessions instead of cutting prices to entice buyers stuck on the sidelines.

Then these “locked” mortgages with fixed low rates are passed from the builder to the prospective buyer. “And so it’s a way of the builder being able to create a competitive advantage for themselves,” Will said.

Put simply, some builders are eating the difference between the prevailing mortgage rate and what consumers will accept, just to get inventory moving and empty homes off their backs.

“Buyer incentives were widespread and construction costs were generally high, putting downward pressure on builders’ margins,” the Dallas Fed reported in the Federal Reserve’s Beige Book survey.

Builders also lowering mortgage rates to get around reducing prices, as this can affect the value of homes that have already been sold, Will said, and also their ability to raise prices on future homes.

Economists expect mortgage rates to drop further over the course of the year. That’s no doubt good news for the many buyers who are wading back into the real-estate pool.

“We’ve seen a few quarters of stagnation while consumers have been waiting” for rates to drop, Will said. “And now we’re seeing green shoots of that — they’re beginning to get back into the market.”

Source: marketwatch