Wed.Dec 23, 2020

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Mortgage applications increase for second straight week

Housing Wire

Borrowers looking to refinance their VA and FHA loans contributed to another uptick in mortgage applications for the week ending Dec. 18, according to the latest report from the Mortgage Bankers Association. Mortgage applications jumped 0.8% a week after the 30-year fixed mortgage rate dropped five basis points to 2.85%, the trade group noted. The 30-year rate is up to 2.86% in the most recent MBA survey, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting

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December Newsletter- Goodbye 2020

DW Slater Company

A Christmas Wreath in Texas. We at the DW Slater Company want to send you our warmest wishes during this season. We know that this will look different for all of us as we try to stay safe. We have a large family of seven kids and this is always a special time, however, this year will be different for us. May you enjoy special time with family and friends, in whatever way it will be for you this year.

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The good, the bad, and the likely for housing in 2021

Housing Wire

Despite the pandemic, incredibly, the housing market has surpassed all expectations in 2020. Applications to purchase a home hit a low point in the spring due to stay-at-home orders and mandated business closures, but have rebounded swiftly. As of the week ending December 4, purchase loan applications have exceeded year-ago levels for 29-straight weeks, and cumulative purchase applications have surpassed 2019 levels.

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Your Guide To The Federal Reserve & Mortgages

PennyMac

On December 16, 2020, the U.S. Federal Reserve announced that its benchmark interest rate would continue to stay at the historically low range of 0.00% to 0.25%, where it has been held since the board’s initial groundbreaking decision on March 15, 2020, in reaction to the onslaught of the coronavirus pandemic and its grip on economies worldwide. *.

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Real estate technology adoption in a post-pandemic world

Housing Wire

The impact of COVID on the real estate market is significant and has forever changed the way our industry operates. This change, while disruptive and uncomfortable for some, has provoked the rapid adoption of real estate technology, the likes of which we haven’t seen before. Agents, teams and brokerages are now seriously reconsidering the technology platform, tools and services needed to effectively do business today.

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December Real Estate Market Update

Listing Spark

Across the major markets in Texas, our December real estate market update shows clear data points that we are ending the year in one of the strongest seller’s markets we have seen in modern history. . Here is the breakdown across Austin, San Antonio, Houston and Dallas/Fort Worth. Austin. Median Sales Price: $365,000 (up 19%) Closed Sales: 3,397 (up 23%) Average Days on Market: 33 (Down 29 days from this time last year) 2,842 Active Listings (Down 55%) 3,629 Pending Sales (Up 23%) 0.9 Mon

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New home sales begin to cool in November

Housing Wire

Sales of newly built homes occurred at a seasonally-adjusted annual rate of 841,000 in November – 11% below October’s 945,000 revised rate , the Census Bureau reported on Wednesday. Despite a double-digit decline, November’s numbers are still nearly 21% higher than this same period last year. Every region experienced a dip in new-home sales, with the Midwest providing the starkest decline, down a whopping 43% month-over-month.

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LoanDepot creates joint venture with Brookfield Residential

Housing Wire

LoanDepot and Brookfield Residential announced on Wednesday the creation of a joint venture, BRP Home Mortgage. BRP will deliver a streamlined mortgage experience for Brookfield Residential homebuyers, said Dan Peña, executive vice president of national joint ventures for loanDepot. Homebuyers in new home communities located in California, Colorado, Delaware, Texas, Virginia and Washington D.C. will now have access to loanDepot’s proprietary mortgage originations platform. “Brookfiel

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Why new home sales are finally moderating

Housing Wire

Reports on housing data are headline-driven, and headlines are designed to cause folks to overreact in both positive and negative ways. We’ve seen our share of hyperbolic headlines in the housing reports this year, and for that reason, I have been compelled to reiterate my belief that the “too-hot” data will moderate to a more normalized trend. But, we hadn’t seen that moderation in any meaningful way until today’s new home sales data.

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FHFA extends multifamily forbearance through March 31

Housing Wire

Multifamily property owners who are struggling to make mortgage payments due to the coronavirus pandemic now have a reprieve through the end of March for mortgages backed by Fannie Mae and Freddie Mac , the Federal Housing Finance Agency announced on Wednesday. Forbearance options for multifamily mortgages backed by the GSEs were set to expire on Dec. 31, but the FHFA has extended that till March 31, 2021, provided landlords are also extending benefits to their renters.

Tenants 411
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How to tackle the affordable housing crisis in 2021

Housing Wire

The COVID-19 pandemic has exacerbated the issues around affordable housing and access to it. In particular, the pandemic has disproportionately impacted housing opportunities for individuals and communities of color. Millions of jobs have been lost, and a lot of those jobs will not be coming back. Freddie Mac’s forbearance results have shown that many who have been delinquent or have fallen behind in their payments for more than 60 days have taken advantage of forbearance options provided by the

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ALTA highlights over 51,000 title jobs saved by PPP loans

Housing Wire

In the wake of the new financial stimulus bill, the American Land Title Association looked back at the thousands of jobs that have been saved so far by the Paycheck Protection Program. This week Congress passed a $900 billion stimulus bill that includes personal payments of $600 per person, an added $300 per week in unemployment benefits and sets aside another $285 billion for loans under the paycheck protection program, among other things.

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