Housing Wire
NOVEMBER 10, 2022
Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the peak of inflation and close to the end of the Fed rate hike cycle? Let’s take a look at today’s data.
Eyes on Housing
NOVEMBER 10, 2022
Consumer prices in October saw the smallest year-over-year gain since January 2022, and while still elevated, inflation experienced the first month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and the energy index increased after declining for three straight months. As inflation appears to have peaked and has.
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Housing Wire
NOVEMBER 10, 2022
Consumer prices continued to rise in October, but at a slower annual pace, suggesting that the Federal Reserve’s interest rate hikes are having an impact on consumer spending habits. The Consumer Price Index (CPI) rose by 7.7% in October compared to one year ago. That is the smallest 12-month increase since the year ending in January 2022, according to data released Thursday by the Bureau of Labor Statistics.
Eyes on Housing
NOVEMBER 10, 2022
Rising mortgage rates, high inflation, ongoing building material supply chain disruptions, and elevated home prices contributed to housing affordability falling – yet again – to its lowest point since the Great Recession in the third quarter of 2022. According to the NAHB/Wells Fargo Housing Opportunity Index (HOI), just 42.2% of new and existing homes sold between the beginning of July.
Housing Wire
NOVEMBER 10, 2022
Home Point Capital , the parent company of wholesale lender Homepoint , posted another fat loss in the third quarter of 2022, even after hitting the “ reset button ” and cutting 3,000 employees. . The company reported Thursday morning that reduced origination volumes – down to $4 billion – and depressed revenues resulted in a loss as it attempts to navigate a landscape of surging rates and a price war.
Empire Appraisal Group
NOVEMBER 10, 2022
Why Appraisers Say ‘We Have Targets on Our Backs’ By: Melissa Dittmann Tracey. Source: Why Appraisers Say ‘We Have Targets on Our Backs’ (nar.realtor). How professionals are managing the biggest obstacles to the home valuation process. © ipopba – iStock/Getty Images Plus. From allegations of appraiser bias in the home valuation process to new controversial methods of conducting an appraisal, the profession is under intensifying scrutiny—and a new National Associatio
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Lamacchia Realty
NOVEMBER 10, 2022
Kate Perrine has officially qualified for the 2022 Lamacchia Realty President’s Club by selling 33 homes this year! This is her second year in a row qualifying for the prestigious distinction, and she is also a member of the 2021 President’s Club ELITE. Kate is the winner of the 2021 Most Transactions award in the Chelsmford office and was also named a Top Producer in 2021.
Housing Wire
NOVEMBER 10, 2022
Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed 7%,” Sam Khater, Freddie Mac’s chief economist, said in a statement.
Houston Properties
NOVEMBER 10, 2022
Understand the Houston real estate market post Harvey and post Imelda, and compare Houston home prices after Harvey and Imelda for neighborhoods that flooded and did not flood.
Housing Wire
NOVEMBER 10, 2022
The Federal Housing Finance Agency (FHFA) announced on Thursday that the 2023 multifamily loan purchase caps for Fannie Mae and the Freddie Mac will be $75 billion for each government-sponsored enterprise (GSE), for a combined total of $150 billion to support the multifamily market, according to an announcement from the FHFA. “The 2023 caps reflect an anticipated contraction of the multifamily originations market in 2023,” the FHFA said in a statement.
BiggerPockets
NOVEMBER 10, 2022
With so much going on—a recession, rampant inflation, rising interest rates—overcoming your money fears can be more challenging than ever before. The world is changing, and many of us feel […].
Housing Wire
NOVEMBER 10, 2022
The increased fees that military veterans and active duty personnel pay for Veterans Administration (VA) mortgage loans should be allowed to expire on schedule, and congressional leaders should avoid any policies that would extend these fees, according the Community Home Lenders of America (CHLA). CHLA leadership spelled out their opposition to the increased VA home loan fees on Thursday in a letter sent to congressional chairs and ranking members of the House and Senate Veterans Affairs Committ
BiggerPockets
NOVEMBER 10, 2022
The housing market has shown homebuyers both fierce love and abuse throughout 2022. At the start of the year, offering anything other than twenty thousand above asking was seen as […].
Housing Wire
NOVEMBER 10, 2022
Blend Lab ‘s third-quarter loss of $133.98 million was driven by a decline in mortgage banking and its title insurance business revenue, which occurred despite its consumer banking revenue more than doubling from the same period last year. The loss also reflects a $57.9 million impairment of intangible assets and goodwill related to the Title365 segment, resulting in a full write-off of these assets as of September 30, 2022. .
Mortgagebroker News
NOVEMBER 10, 2022
A significant share of borrowers have stopped making their payments, the lender said
Housing Wire
NOVEMBER 10, 2022
Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The firm will focus on the non-qualified residential mortgages in the wholesale and correspondent channels. “Angel Oak is exiting its retail distribution channel and divesting its retail distribution capabilities housed in Angel Oak Home Loans, entering into a transaction with a leading mortgage lender and servicer,” a statement from Angel Oak said.
Mortgagebroker News
NOVEMBER 10, 2022
A growing number of Canadians are steadily inching towards their financial breaking points, CAIRP says
Appraisal Today
NOVEMBER 10, 2022
12 Unacceptable Appraisal Practices from Freddie Mac. 10-5-22. Here are 5: Reliance in any appraisal analysis on inappropriate comparable sales, or the failure to use comparable sales that are more similar to or nearer to the subject property without adequate explanation. Use of unsupported or subjective terms to assess or rate, such as, but not limited to, “high,” “low,” “good,” “bad,” “fair,” “poor,” “strong,” “weak,” “rapid,” “slow,” “fast” or “average” without providing a foundation for anal
Mortgagebroker News
NOVEMBER 10, 2022
Lenders have their say on how things will play out moving into next year
Clear Capital
NOVEMBER 10, 2022
Written by Erik Sherman. A partnership with Clear Capital adds additional insight to Cherre customers. Data integration and analysis company Cherre announced that it’s partnering with national real estate valuation technology company Clear Capital to gain a new source of data. “The partnership will allow Cherre customers to leverage Clear Capital’s expansive property analytics alongside other internal systems and application data, enabling customers to conduct more accurate modeling and better r
Mortgagebroker News
NOVEMBER 10, 2022
Police are reportedly searching records and interviewing witnesses
Mashvisor
NOVEMBER 10, 2022
Conducting a market rental rate analysis is important before investing. It helps you determine an investment property’s profit potential. Table of Contents What Is a Rental Market Analysis?
Mortgagebroker News
NOVEMBER 10, 2022
Being sure of income and employment sustainability are some of the most important factors
Housing Wire
NOVEMBER 10, 2022
If we don’t learn from history, we are doomed to repeat it. From 1998 to 2006, according to Freddie Mac , the median annual mortgage rate was 6.45%. At the same time, the median, annual average of existing home sales was 5.63 million units. Therefore, there were more housing sales in 1996 than there will be this year. Mortgage rates today are not much higher than they were then.
Mortgagebroker News
NOVEMBER 10, 2022
Obstacles to homeownership remain significant
Housing Wire
NOVEMBER 10, 2022
David Meyer is thankful that his business is still plugging along during the wildest housing market in decades. With mortgage rates hovering around 7% and home prices still at record highs, buyers across America are calling off the house hunt and finding multifamily apartments. . “Buyers got a bit spoiled with the interest rates over the last five years and especially the last two, so the interest rate hikes have really spooked everyone,” said Meyer, a RE/MAX agent based in the Twin Cities metro
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