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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We Year over year , Compass gained 26 basis points of market share, bringing its total share of home sales in Q1 2024 to 4.76%.

Agents 428
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New American Funding onboards top Chicago loan officer 

Housing Wire

Steinway also expects NAF’s “expansive” product mix, such as NAF Cash , will help him achieve more production volume in a highly competitive market. When the buyer is ready to move in with permanent financing, NAF sells it back to the buyer for the original price with a convenience fee that can be added to the purchase price.

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Lenders target growing Hispanic homeownership market

Housing Wire

The new program and tool launches come as potential Hispanic home buyers face a tight housing market with historic low level of supply for affordable homes. CrossCountry, founded in 2003 by Ronald Leonhardt, has more than 8,000 employees with nearly 600 branches across 50 states. Presented by: Mortgage Coach.

Marketing 370
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Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

Full-service mortgage lender Nations Lending and local Indiana real estate firm Carpenter Realtors launched a joint venture, Commitment Mortgage , in order to offer an end-to-end experience — from finding a home to closing a loan in a cooled-down housing market. “We trillion in 2022, down from the previous year’s $4.4

Lending 370
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Average U.S. 30-year mortgage rate rises from all-time low

Housing Wire

The 30-year rate has broken records nine times since March because of a Federal Reserve bond-buying program that has poured about $1 trillion into the mortgage markets. trillion in refinancings, the highest level since 2003 and more than double the volume seen in 2019, the mortgage giant said. trillion , boosted by $2.4

Mortgage 503
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The last time houses were this unaffordable was 2006

Housing Wire

Adjustable-rate mortgages, which typically have lower interest rates than fixed-rate mortgages, have become an attractive option for borrowers in a challenging housing market. About 95% of the 100 largest markets are now less affordable than their long term benchmarks from 1995 to 2003, up from just 6% at the start of the pandemic.

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The risk of zero-down loans while the Fed talks recession

Housing Wire

The housing market is very subsidized for demand to grow and whenever the economy gets weaker, rates fall and that impacts the housing market in a disproportionate way. So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand.

Inventory 543