Trending Articles

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Mortgage rates continue their slide toward the 7% mark

Housing Wire

Mortgage rates continued to inch toward the 7% mark following last week’s meeting of Federal Reserve policymakers and new inflation data that showed further cooling of consumer prices. On Tuesday, HousingWire ‘s Mortgage Rates Center showed that the average 30-year rate for conforming loans was 7.08%. That was down 11 basis points from the same time last week and exactly 50 basis points below this year’s peak rate that was recorded in early May.

Mortgage 458
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Millions of U.S. Homeowners Remain ‘House Poor’

Appraisal Buzz

It goes without saying that buying a home is not cheap. While some homeowners are capable of managing their housing costs, others are not so equally fortunate and are housing cost-burdened, or “house poor.” According to a new study from LendingTree , nearly 20 million American homeowners across the the U.S. are considered house poor. What it means to be house poor varies depending on the homeowner.

Insurance 386
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Exploring the impact of housing on wellbeing

Housing Wire

The importance of housing as a social driver of health cannot be overstated, yet the intricate pathways connecting housing conditions to health outcomes remain inadequately understood. This knowledge gap is particularly impactful for low-income families who face unique challenges in establishing a sense of home. My experience as a pediatrician at WakeMed has shown me firsthand how critical stable, and quality housing is to the health and well-being of children and their families.

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A Closer Look at the Housing Market’s Inventory Deficits

Appraisal Buzz

Despite the construction boom that happened shortly after pandemic restrictions began being lifted—that has since slowed—the U.S. housing shortage grew to a 4.5-million-unit deficit, up from 4.3 million units in 2023, according to a new analysis from the real estate firm Zillow. The deepening housing deficit is the root cause of the housing affordability crisis According to Zillow, at its core, the housing market is driven by supply and demand; when the number of people who want a home increase

Inventory 417
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Real estate math gone wild

Sacramento Appraisal Blog

A seller thinks his property is worth about one million dollars more than it actually is because he hijacked a price per sq ft from a different house down the street and applied it to his own. Doh!! This happens all the time unfortunately, and it’s an example of how simple real estate math can […] The post Real estate math gone wild first appeared on Sacramento Appraisal Blog.

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Housing Market Decoded: Why is inflation so sticky?

Real Estate News

It’s all about housing, which has an outsized effect on the Consumer Price Index — and is contributing to the Fed’s lack of action on interest rates.

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NAHB Builders Report 22% All-Cash Sales in 2024

Eyes on Housing

Up to this point in 2024, the median builder has sold 22% of its homes to buyers who used all cash to pay for them (i.e., did not take out a mortgage), according to a recent NAHB survey. The survey took the form of a special question appended to the instrument used to collect data.

Buyers 158
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3 regions top the list of markets most at risk for a slowdown

Real Estate News

ATTOM researchers found that counties around Chicago and NYC, as well as several in inland California, would be the most vulnerable in a housing downturn.

Marketing 259
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Andy Florance talks Homes.com, the fallacy of ‘pure buyer agency’

Inman

CoStar Group founder and CEO Andy Florance shares the next chapter of Homes.com's $1 billion marketing push and the fallacy of "pure buyer agency" as portals recalibrate their strategies amid a coming commission crunch.

Buyers 189
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Boomers struggled more than millennials to buy their first homes: Realtor.com

Housing Wire

From rising home prices to rising mortgage rates and inflation , the millennial generation hasn’t had it easy when it comes to homeownership. But new data from Realtor.com shows that millennials aren’t overly burdened in comparison to previous generations. The analysis of historic home prices, income levels and mortgage rates found that baby boomers — Americans between the ages of 60 and 78 this year — “arguably faced the toughest housing market ever for first-time buyers.“ In 1980, when boomers

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Homes Sitting on Market Longer as High Prices Curtail Demand

Appraisal Buzz

According to new Redfin research , more than three in five—an estimated 61.9%—of homes on the market in May had been listed for at least 30 days without selling. That’s up from 60% a year ago and around 50% two years ago. Since March, when new listings increased but buyer demand remained sluggish, the share of properties on the market for at least one month has increased year-over-year, as it has since mortgage rates began climbing in 2022.

Marketing 410
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Top 6 Reasons Why Mobile Forms for Construction Are Changing the Industry

GoForrmz

Originally published on December 29, 2015. Construction businesses of all sizes are embracing digital transformation GoFormz mobile and online forms offer a whole new world of possibilities for construction teams. From streamlining communications between job sites and the office to better management of project details, digital forms might be the missing link for your team.

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Agents, consumers split on NAR settlement outcomes

Real Estate News

A recent survey from Clever found that 70% of agents are unhappy with the deal, but two-thirds of consumers think commissions practices should change.

Agents 280
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Are renters beating the system with Bilt Mastercard rewards card?

Inman

Card issuer Wells Fargo is losing as much as $10 million a month as it eats interchange fees for users who are paying off balances after paying their rent, "The Wall Street Journal" reports.

Tools 178
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CFPB proposes $3.95M fine for Freedom Mortgage over false data accusations

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has proposed that lender and servicer Freedom Mortgage Corp. pay $3.95 million for alleged violations of a 2019 consent order and the Home Mortgage Disclosure Act (HMDA) when it submitted incorrect mortgage data. The proposed order was filed on Tuesday in a U.S. district court in West Palm Beach, Florida, following setbacks in recent months for both parties in an ongoing lawsuit.

Mortgage 450
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Attracting Customers in a Down Market

Appraisal Buzz

This piece originally appeared in the June 2024 edition of MortgagePoint magazine, online now. Few factors dictate the housing market more than mortgage rates. And when rates are high, many borrowers put their home financing decisions on hold, and most lenders and servicers struggle to find new business—usually after they lay off staff, which doesn’t make the challenge any easier.

Marketing 394
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Gov’t-Indulged Middlemen Are Wrong RX for Battered Borrowers, The Infirm

Appraiserblogs

The U.S. government impoverishes homebuyers as it does the chronically ill – by promoting the use of middlemen who prey upon them. A cadre of such middlemen was created decades ago as a firewall between Big Pharma, the insurance companies and the pharmacy chains. Called “pharmacy benefit managers,” they were to negotiate drug prices, streamline distribution and manage lists of prescription drugs covered by insurance plans.

Insurance 135
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Freedom Mortgage hit with $4 million fine

Real Estate News

The company, which has been dubbed a “repeat offender” by regulators, faces another penalty for submitting inaccurate loan data.

Mortgage 257
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Countdown as firms not covered by NAR settlement face tough choice

Inman

Brokerages and MLSs have until 11:59 p.m. CST Tuesday to opt in to deals resolving antitrust claims brought by sellers targeting commissions. Inman contacted 79 brokerages for their updates.

Brokerage 178
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Wells Fargo extends $5,000 closing cost credit

Housing Wire

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. The credit is available for borrowers with combined incomes of up to 80% of their area’s median income who are seeking to purchase a home as a primary residence.

Lending 458
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Ranking the Top Housing Markets for Military Households

Appraisal Buzz

In a new study, Realtor.com has identified the top 10 U.S. metros best suited for military households, as the nation celebrates the 80th anniversary of the GI Bill on June 22, and its many benefits for military households. Coming in at the top of the list was Des Moines-West Des Moines, Iowa. With affordability still a major factor in home buying decisions, knowing which markets offer lower home prices, high military homeownership rates, and a lower forecasted unemployment rate can help military

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The Illogical Reality of Mortgage Appraisal Reviews 

Appraiserblogs

Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and homeowners. In mortgage financing, the appraisal process is often seen as the foundation of accurate property valuation and market stability. However, beneath this façade of reliability lies a troubling rift: while real estate appraisers must navigate stringent licensing protocols and scrutiny, the individuals reviewing the appraisals often operate with minimal

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People on the Move: New CFOs at CoStar, Inside Real Estate

Real Estate News

The companies have hired veteran financial executives to support growth efforts, with Chris Lown joining CoStar and Chris Black joining the proptech leader.

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‘Drive safe’ and 5 other ways real estate dads say ‘I love you’

Inman

From bad "dad jokes" to checking our tire pressure, dads have many unique ways to show love. Trainer Rachael Hite writes that real estate dads have mastered the Acts of Service love language.

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Home price growth slows to lowest level since January 2023: Redfin

Housing Wire

U.S. home prices are growing at their slowest pace in nearly a year and a half, according to Redfin ‘s home price index that was published on Tuesday. Home prices rose 0.26% month over month in May, down from a monthly increase of 0.44% in April. Last month’s reading marked the smallest monthly increase on a seasonally adjusted basis since January 2023.

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Sellers Slash List Prices as Buyers Face Record High Home Costs

Appraisal Buzz

Home sales dipped 1.7% month-over-month in May on a seasonally adjusted basis, and 2.9% year-over-year, according to a recent Redfin study. There have only been two months in the last decade with fewer home sales: October 2023, when mortgage rates reached a 23-year high, and May 2020, when the pandemic brought the housing market to a halt and home sales to an all-time low.

Sellers 435
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Automatic Review of Photos in Appraisal Reports

Appraiserblogs

It means the statements in your appraisal reports about the actual component material, and its quality and current condition, can be challenged by computer software. Folks, this news release (below) was in several publications on Wed, June 19, 2024. These kinds of releases are mostly factual, but are often embellished to present a particular ‘owner’ point of view to influence opinion about products.

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Mortgage rates decline for a second week, boosting applications

Real Estate News

Buyers have more inventory to choose from, but the uptick in demand could be short-lived as the lock-in effect and price growth continue to stymie sales.

Inventory 269
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7 women share their top a-ha moments from WomanUP! 2024

Inman

Since 2017, WomanUP! has been helping women in real estate come together to learn, share expertise and lift each other up. This year was no exception. Here are attendees' top takeaways.

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Title premium volume remained relatively stable in Q1 2024

Housing Wire

The relative stability of the housing market in the first quarter of 2024 resulted in a fairly strong quarter for the title insurance industry. According to the American Land Title Association (ALTA) Market Share Analysis released Thursday, the industry generated $3.35 billion in title insurance premiums during Q1 2024, down only 0.8% year over year.

Insurance 441
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Hot Rental Markets Abound: Chicago, Miami, Silicon Valley Remain Top Dogs

Appraisal Buzz

A new survey of 137 top rental markets of large-scale properties with at least 50 units found that at least two-thirds of renters are choosing to stay put and re-sign their leases. Overall, the survey found that Miami remained top-dog among rental markets as the most competitive market in the country and further strengthened Florida’s overall appeal among apartment dwellers.

Marketing 365
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Exposing Predatory AMCs

Appraiserblogs

Exposing the inner workings of these predatory AMCs and their corrosive influence on the housing market. Cindy Chance’s recent comments about the concerning practices of some appraisal management companies (AMCs) have struck a chord with many in the real estate valuation industry. Chance is shedding light on the troubling ways in which certain AMCs have come to wield significant power and influence over the appraisal process, often to the detriment of both appraisers and the public.

Valuation 108
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DOJ pushes back on NAR’s rehearing request

Real Estate News

The agency wants to reopen its antitrust investigation into the association, and on June 17 said NAR’s attempt to block that move is not justified.

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AppFolio ships updates to improve resident experience

Inman

Heavily supported by AI, the end-to-end multifamily housing operating system rests on Realm-X, designed to flatten and integrate daily activities for institutional apartment owners.

Design 185