Housing Wire
MAY 14, 2024
As the U.S. reaches its peak homebuying season, mortgage rates continue to ease week over week. HousingWire ’s Mortgage Rates Center showed the average 30-year fixed rate for conforming loans at 7.45% on Tuesday, below the rate of 7.51% one week ago. At the same time one year ago, the average rate was 6.54%.The 15-year conforming fixed rate averaged 6.75% on Tuesday, down from 6.77% one week earlier.
Appraisal Buzz
MAY 13, 2024
I recall receiving MLS books once a month and being thrilled that a whole new population of sales were available to be considered within the pages of each book. By the time I got the new book, the sales were already a bit dated, and since they were only closed sales – they had actually sold a few weeks to months prior. Each month there was a new book, but every 6 months, there was a combined book with the last 6 months of sales in one bound and printed book.
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Cleveland Appraisal Blog
MAY 17, 2024
Hello, dear readers! Thank you for being here! Many homeowners have decided not to sell their homes but to renovate them instead. If you find yourself in this situation, this article will provide you with a guide that may be helpful to you. This week, I invite back a guest blogger, Tina Martin. I hope you enjoy her article! Planning for a Home Renovation: A Guide When it comes time to renovate your home, there are a few things you should know.
Sacramento Appraisal Blog
MAY 14, 2024
Has the spring market peaked? There is a good chance it has. Let’s talk about that today. This post is designed to skim by topic or digest slowly. UPCOMING SPEAKING GIGS: 5/15/24 KW Roseville Event (open to real estate pros) 6/5/24 Marketing Mastermind (register here) 6/6/24 Golden 1 Credit Union (details TBA) 6/11/24 Elk Grove […] The post Has the housing market peaked for the spring?
Housing Wire
MAY 14, 2024
A report released this week by St. Louis-based Clever Real Estate found that recent homebuyers, as well as people who are considering a home purchase in the next year, are experiencing a laundry list of difficulties. Last month, Clever surveyed a total of 920 Americans about their views of the home purchase process and real estate agents. The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025.
Real Estate News
MAY 17, 2024
President and CEO Mark Willis called the move “unprecedented," and said the vote by the company’s agent-led IALC passed by an “overwhelming majority.
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Inman
MAY 15, 2024
Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for three consecutive weeks following Fed easing and soft jobs and CPI reports.
Housing Wire
MAY 16, 2024
United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. As a result, brokers no longer need to deal with a title company or settlement agent to close a refi. The top U.S. mortgage lender announced the service on Thursday during an annual meeting with its broker partners in Pontiac, Michigan.
Real Estate News
MAY 15, 2024
Rates have gone up considerably in the past few years, but is the fear of losing a low-rate mortgage really keeping homeowners from selling?
Appraisal Buzz
MAY 17, 2024
STRATMOR Group and Teraverde have merged to create a powerhouse mortgage advisory firm poised to serve clients across entire mortgage banking spectrum. Both firms will operate under the STRATMOR brand in the near future. The new firm combines each company’s respective programs, technology, and subject-matter expertise to deliver superior advisory solutions to now serve the entire mortgage banking spectrum.
Inman
MAY 17, 2024
Now is the time to expand your skill set, broaden your knowledge and provide value at a higher level than you’ve ever provided, Jimmy Burgess writes, so that you won't just survive, you'll thrive.
Housing Wire
MAY 16, 2024
The White House and the U.S. Department of Housing and Urban Development (HUD) announced on Thursday the awarding of $40 million to expand housing counseling services to a greater number of vulnerable communities. The services will be available for current homeowners, prospective homebuyers and renters alike. The announcement was made by HUD acting secretary Adrianne Todman and Vice President Kamala Harris in Milwaukee during the vice president’s “nationwide economic opportunity tour,” announced
Real Estate News
MAY 17, 2024
Company leaders hosted a livestream to discuss NAR settlement outcomes, including buyer agreements and how to talk to sellers about buy-side compensation.
Appraisal Buzz
MAY 17, 2024
The median U.S. home sale price increased 6.2% year over year in April to $433,558 — the highest level on record, according to Redfin. Today’s housing market is much slower than it was during the pandemic home buying boom, but prices continue climbing due to low inventory. New listings increased 1.7% month over month in April and were up 10.8% year over year.
Eyes on Housing
MAY 13, 2024
As described in a previous post, NAHB recently released its 2024 Priced-Out Estimates showing 103.5 million households are not able to afford a median priced new home and an additional 106,031 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how.
Housing Wire
MAY 15, 2024
VantageScore has released a pilot of its latest credit-scoring model , VantageScore 4 Plus, for banks, fintechs and government lenders. The new model combines alternate open banking data with traditional credit data , which it claims gives lenders a “substantial predictive lift of up to 10% compared to the industry leading VantageScore 4.0 credit score, which itself has up to an 8% lift over conventional scoring models.” VantageScore said its new pilot is compatible with all major ag
Real Estate News
MAY 15, 2024
Sentiment drops for the first time since November, with persistent inflation and concerns about new federal rules dampening builders’ outlook.
Appraisal Buzz
MAY 17, 2024
Mortgage industry veteran David Vida has joined subservicer LoanCare as executive vice president, chief revenue officer. Vida is a seasoned leader with a robust background in residential mortgage servicing and originations-related services. He has over 30 years of experience and most recently served as chief operating officer at Weston Portfolio Group.
Inman
MAY 13, 2024
Ready to transform the way you communicate your value to clients? Marketing expert Marci James helps you reshape the agent-client relationship by prioritizing clear communication and exceptional results.
Housing Wire
MAY 13, 2024
Zeb Lowe: How do you feel about the manner companies in this industry are approaching technology in today’s market? Merrick Lackner: It’s no secret that companies are looking to reduce operating expenses, and automation plays an integral role in accomplishing that. The danger of automation-first thinking is it often comes at the cost of the relationship with the customer.
Real Estate News
MAY 14, 2024
The latest data points to some easing, but payments could hit a new peak later in the year. Regionally, payments are down in areas with rising inventory.
Appraisal Buzz
MAY 16, 2024
The average rate for a 30-year fixed-rate mortgage fell to 7.02% this week, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). A year ago at this time, the average rate for a 30-year was 6.39%. “Mortgage rates decreased for the second consecutive week,” says Sam Khater, chief economist for Freddie Mac, in a release. “Given the news that inflation eased slightly, the 10-year Treasury yield dipped, leading to lower mortgage rates.
Eyes on Housing
MAY 16, 2024
Single-family starts remained flat in April as mortgage interest rates moved above 7% last month and builders continued to face tight lending conditions. Overall housing starts increased 5.7% in April to a seasonally adjusted annual rate of 1.36 million units, according to a report from the U.S. Department of Housing and Urban Development and the.
Housing Wire
MAY 13, 2024
As the U.S. hits peak homebuying season, the signals across the country are mixed at best as some markets are accelerating while others are slowing quickly. Inventory continues to build at the national level, something that’s happening most rapidly in the South. Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines.
Real Estate News
MAY 16, 2024
Will Homes.com sell buyer agent leads? “Never,” says Andy Florance, who believes all the portals will eventually move to “your listing, your lead.
Appraisal Buzz
MAY 16, 2024
Snapdocs eVault is now integrated with SitusAMC ’s ProMerit platform, allowing warehouse lenders to manage e-note transactions seamlessly and securely from within their warehouse lending system of record. “Today, e-note adoption by mortgage originators is just under 10 percent, and projections indicate it will reach nearly 30 percent of all new loan originations within a few years,” says Camelia Martin, vice president of e-mortgage strategy at Snapdocs, in a release.
Inman
MAY 17, 2024
Now is the time to expand your skill set, broaden your knowledge and provide value at a higher level than you’ve ever provided, Jimmy Burgess writes, so that you won't just survive, you'll thrive.
Housing Wire
MAY 15, 2024
The most anticipated economic report of the month showed that inflation cooled down a little in April, bringing relief to investors and housing industry professionals. Consumer prices in April were up 3.4% from a year earlier, down from 3.5% in March , according to data released by the Bureau of Labor Statistics on Wednesday. The reading, which came on the heels of the past three stronger-than-expected CPI releases, aligned with economists’ forecasts.
Real Estate News
MAY 16, 2024
Squint and you can see a bright side as housing starts bounce back and mortgage rates drop a bit (but stubbornly stay above 7%).
Appraisal Buzz
MAY 16, 2024
Forty-four percent of recent home buyers have had to take on additional debt to maintain their lifestyle, and 43% have struggled to make mortgage payments on time, according to Clever Real Estate’s American Home Buyer Report. Further, 47% of recent home buyers say they feel in over their head financially since purchasing their home. About 85% of buyers compromised on their priorities when purchasing a home, according to the report.
Inman
MAY 15, 2024
On the heels of the National Association of Realtors’ midyear meeting, broker-owner Teresa Boardman wonders why NAR doesn’t livestream (and engage) more members.
Housing Wire
MAY 16, 2024
Across all states, California poses the highest risk of bankruptcy for Americans ages 65 and older, according to a study released by personal finance website Moneywise. The study analyzed 11 factors to determine which states put elderly U.S. citizens at the greatest risk of bankruptcy. It determined each state’s risk of bankruptcy by assigning a risk score on a scale of 100 based on factors like poverty rates, debt-to-income ratios, health care expenses and overall cost of living.
Real Estate News
MAY 14, 2024
Damian Eales told Real Estate News that he loves competition but takes issue with Homes.com’s traffic claims and says they have “disparaged” buyer agents.
Appraisal Buzz
MAY 16, 2024
Pacific Investment Management Company LLC (PIMCO) is the winning bidder on three pools of reperforming mortgage loans recently auctioned by Fannie Mae. Reperforming loans are loans that have been or are currently delinquent but have reperformed for a period of time. The deal, announced on April 16, included the sale of 6,484 loans totaling $1.47 billion in unpaid principal balance (UPB).
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