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‘Big Short’ investor says iBuyers could be obsolete by 2025

Inman

In his latest interview with Bloomberg, former Goldman Sachs investor Don Mullen explains why iBuyers won't survive much longer, calling them the "forced sellers" of today's market.

Investors 108
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How LOs, mortgage execs are preparing for 2024

Housing Wire

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgage 438
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What Fed rate cuts in 2024 will mean for homebuyers

Housing Wire

in 2025, indicating four more 25 bps cuts. What does this mean for mortgage rates? Mortgage rates should get better. ” Mortgage rates track the yield on 10-year U.S. Treasuries, which move based on anticipation about the Fed’s actions, what the Fed ends up doing and investors’ reactions.

Inventory 457
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The Super App is here — and it’s called Zillow

Housing Wire

It’s called Zillow,” Barton told investors and analysts listening to Zillow’s Q4 2023 earnings call Tuesday evening. Central to Zillow’s Super App vision has been its growth pillars , which now include rentals in addition to touring, financing, seller solutions, enhancing its partner network and integrating its services.

Agents 327
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Will new products stop the bleeding for mortgage lenders? 

Housing Wire

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgage 384
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For Zillow, 2023 is the year of execution

Housing Wire

As a result, the company’s executives told investors and analysts that they were pleased with the firm’s second quarter performance, especially in touring, financing, and renting. Zillow’s mortgage arm, Home Loans, on the other hand, recorded a 17% year-over-year decline in revenue to $24 million.

Agents 349
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Smaller nonbanks facing “come to Jesus moment” as MSR values dip 

Housing Wire

The year ahead for the mortgage-servicing rights market is shaping up to be a lucrative play for investors, lenders and others looking to purchase MSR assets. Independent mortgage banks (IMBs) leaning on MSR sales, however, now face a supply-demand imbalance, market observers say. These differences can cause volatile MSR values.

Sellers 283