Housing Wire
OCTOBER 26, 2023
Average mortgage rates on 30-year fixed home loans continued their march towards 8% this week as the Treasury yield surpassed 5%. Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since Spring 2022, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average 30-year, fixed-rate mortgage rose to 7.79% as of Oct. 26.
Sacramento Appraisal Blog
OCTOBER 26, 2023
You will either love it or hate it. This owner transformed a tract home built in 2002 into something with serious Midtown modern vibes. When I saw this house, I knew I wanted to write about it, and I think there are some great conversation nuggets. How do we value something when it has really […] The post Making a modern home from a tract home first appeared on Sacramento Appraisal Blog.
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Housing Wire
OCTOBER 26, 2023
The servicing segment drove most of Pennymac Financial Services ’s earnings in the third quarter of 2023, just like its peers, Mr. Cooper and Rithm Capital. Profits at the California-based lender increased by 60% from July to September, compared to the prior quarter, with originations also boosting performance. Pennymac announced on Thursday a $92.87 million net income in Q3 2023, up from $58.2 million in the previous quarter but down from $135 million in Q3 2022, per Securities and Exch
Real Estate News
OCTOBER 26, 2023
The defense in Sitzer/Burnett called on three experts to discuss the consequences of decoupling commissions, with one facing aggressive cross-examination.
Housing Wire
OCTOBER 26, 2023
KANSAS CITY, Missouri — The ninth day of the Sitzer/Burnett commission lawsuit started off with some overnight news from the court. After filing a motion for a mistrial Wednesday morning, citing several grievances including “vulgar” footage from a Tom Ferry podcast featuring Allan Dalton and references to the Department of Justice’s investigation of the National Association of Realtors (NAR), defendant HomeServices of America learned it didn’t get its way.
Real Estate News
OCTOBER 26, 2023
After big declines in August, sales recovered slightly, but “pending contracts remain at historically low levels,” NAR Chief Economist Lawrence Yun noted.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
OCTOBER 26, 2023
The iBuyer will send potential sellers leads to the brokerage company, while Anywhere agents can present their sellers with a cash offer from Offerpad.
Housing Wire
OCTOBER 26, 2023
Pending home sales ticked up 1.1% in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). NAR’s Pending Home Sales Index rose to a reading of 72.6 in September. Pending homes sales mirrored the trend in new home sales , which posted a 12.3% increase in September.
Real Estate News
OCTOBER 26, 2023
Expect a “more dramatic” seasonal slowdown in home sales as average rates near 8% scare off buyers.
Housing Wire
OCTOBER 26, 2023
New York-based Rithm Capital’s profits declined in the third quarter of 2023, when the real estate investment trust got involved in a dispute for Sculptor Capital Management and announced the acquisition of Specialized Loan Servicing. The deals are part of the firm’s plan to become a leading global asset manager, executives said. Rithm announced Thursday that it delivered a $194 million GAAP net income in the third quarter of 2023 — lower than the $357.4 million the prior quarter , p
Inman
OCTOBER 26, 2023
RESAAS’s data provisioning and market insight tools address a wide array of needs in multiple real estate business centers. It's known especially for its MLS and brokerage communication modules.
Housing Wire
OCTOBER 26, 2023
Real estate conglomerate Anywhere is teaming up with Offerpad to expand the iBuyer ‘s services nationwide, according to an announcement on Thursday. Offerpad operates in 14 states. The partnership extends Offerpad’s reach by allowing seller requests from areas outside of Offerpad’s current markets to be served by certified agents affiliated with the Anywhere Leads Network , a nationwide network of 500 brokers and more than 100,000 real estate agents.
Inman
OCTOBER 26, 2023
The longtime film and TV set decorator turned to staging for NYC-based real estate firm Archpoint Advisory on the cusp of the WGA and SAG-AFTRA strikes, and is enjoying the opportunity.
Housing Wire
OCTOBER 26, 2023
Wednesday afternoon’s proceedings at the Sitzer/Burnett commission lawsuit trial continued with more testimony from HomeServices of America executives. After appearing in a video deposition on Monday as part of the plaintiff’s testimony, Rosalie Warner, a corporate representative for HomeServices of America and its affiliates, was in the Kansas City courtroom in person on Wednesday.
Inman
OCTOBER 26, 2023
If you've been struggling with motivation, mindset and the strains of the current market, author and trainer Bernice Ross offers two dozen proven techniques to get you back on track.
Housing Wire
OCTOBER 26, 2023
In a groundbreaking development for the real estate and mortgage industries, HousingWire has announced the successful merger of HousingWire Annual and RealTrends’ Gathering of Eagles. The merger, which has been in the works for several months, brings together two powerhouse events that have been at the forefront of industry thought leadership. By joining forces, The Full Picture begins to emerge, creating business and knowledge opportunities for mortgage, real estate, title, and appraisal leader
Inman
OCTOBER 26, 2023
Sellers located outside of Offerpad markets who contact the iBuyer for services will be connected with eligible agents in the Anywhere Leads Network.
Housing Wire
OCTOBER 26, 2023
Thursday was a big day for title firm earnings, with three of the Big Four title insurers reporting their third-quarter 2023 earnings. The day began with Stewart’s Q3 2023 earnings call with investors and analysts. During the quarter, the smallest of the Big Four recorded a total revenue of $601.7 million, down from $716.4 million a year ago. Stewart’s net income also fell year over year dropping from $29.4 million in Q3 2022 to $14.0 million in Q3 2023.
Eyes on Housing
OCTOBER 26, 2023
The U.S. economy had remarkable growth in the third quarter of 2023, fueled by consumer spending. The GDP price index rose 3.5% for the third quarter, up from a 1.7% increase in the second quarter. The Personal Consumption Expenditures (PCE) Price Index, capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior, rose.
Inman
OCTOBER 26, 2023
The Pending Home Sales Index, representing the number of homes that went under contract, rose 1.1 percent between September and August.
Eyes on Housing
OCTOBER 26, 2023
Housing’s share of the economy remained at 15.9% at the end of the third quarter of 2023. Overall GDP increased at a 4.9% annual rate, following a 2.1% increase in the second quarter of 2023 and 2.2% increase in the first quarter of 2023. Housing’s share of GDP remained at 15.9% for the third consecutive quarter in 2023. In the.
Inman
OCTOBER 26, 2023
Find out how this Florida brokerage leader combines selflessness, diligence and patience to achieve remarkable results.
Empire Appraisal Group
OCTOBER 26, 2023
How can an appraisal help with Immigration? Form I-134, officially known as the “Affidavit of Support”, is a document required by the U.S. Citizenship and Immigration Services (USCIS) for certain non-immigrant visa applicants to demonstrate their financial support while in the United States. An appraisal report could be used as supporting documentation to demonstrate the sponsor’s financial ability to provide support for the applicant.
BiggerPockets
OCTOBER 26, 2023
ROI in real estate measures the profitability of an investment property. It's the ratio of net profit to the initial investment. In simple terms, a higher ROI indicates a more lucrative investment, while a lower one suggests lower returns.
Mortgagebroker News
OCTOBER 26, 2023
The Bank of Canada's latest decisions seem to indicate that it is now at the end of its tightening cycle, association says
BiggerPockets
OCTOBER 26, 2023
In real estate, refinancing is the process of replacing an existing mortgage with a brand-new one with more favorable terms. By refinancing, borrowers can decrease monthly mortgage payments, negotiate lower interest rates, renegotiate the term, remove other borrowers from the loan agreement, and/or access cash through home equity that has been built over time.
Mortgagebroker News
OCTOBER 26, 2023
The central bank's current strategy gives it sufficient room to manoeuvre should a recession materialize
BiggerPockets
OCTOBER 26, 2023
Sometimes, properties may not have a clear title or line of ownership. If a property has any issues with its title, an owner may choose to provide a quitclaim deed. These deeds are also referred to as quick claim deeds because the transfer of property can happen much faster using this type of deed. This guide will explain everything you need to know about the quitclaim deed.
Mortgagebroker News
OCTOBER 26, 2023
The move expands the lender's service and makes it more versatile than ever, says executive
BiggerPockets
OCTOBER 26, 2023
One term that will come up when you’re researching the details of buying a home is “warranty deed.” This is a legal document that most lenders require before you can close on a home or other property. Here’s a look at what a warranty deed is and why you need to understand this real estate term before you buy a property.
Mortgagebroker News
OCTOBER 26, 2023
CIBC's Tal on whether the end is in sight
BiggerPockets
OCTOBER 26, 2023
With today's high interest rates, private money lending may currently offer the best return on your real estate investment. We'll break it all down.
Mortgagebroker News
OCTOBER 26, 2023
Oppono Lending exec talks navigating turbulent times
BiggerPockets
OCTOBER 26, 2023
“Foreclosure” can be an ominous word in real estate, and the process can feel a little murky, since it varies from state to state. Savvy real estate investors should understand foreclosures in case they face foreclosure themselves or are interested in the investment opportunity foreclosed properties offer.
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