Housing Wire
SEPTEMBER 23, 2022
Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC). Financial terms of the deal were not disclosed. The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably the most challenging mortgage market since the early 1980s. .
Appraisal Buzz
SEPTEMBER 23, 2022
According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023. According to the ESR, economic growth is projected to resume in the second half of 2022, but the … The post Fannie Mae Continues to Forecast 2023 Recession appeared first on DSNews.
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Housing Wire
SEPTEMBER 23, 2022
You think things are bad in the housing market now? Stick around and see if mortgage rates climb into the 7% range. If it happens, the current origination forecast of $2.2 trillion in 2023 will look awfully rosy. Even the most battle-tested industry players are preparing for one of the strongest housing market corrections in decades. Federal Reserve Chairman Jerome Powell sent a clear message during a press conference following the announcement of the central bank’s decision to hike the fe
Appraisal Buzz
SEPTEMBER 23, 2022
First American Financial Corporation has released the First American’s proprietary Potential Home Sales Model for the month of August 2022. The Potential Home Sales Model measures what the healthy market level of home sales should be based on economic, demographic, and housing market fundamentals. August 2022 Potential Home Sales Findings Potential existing-home sales increased to … The post Elevated Purchase Demand Fueling Housing Market Potential appeared first on theMReport.com.
Housing Wire
SEPTEMBER 23, 2022
The latest S&P Global U.S. purchasing managers index (PMI) numbers are out, and the results are mixed at best — indicating that inflation is abating some but is far from tamed. The composite output PMI index came in at 49.3 for September, up from 44.6 in August, signaling a softer, marginal decline in private-sector business activity. An index score above 50 indicates business activity is expanding while a reading below 50 indicates it’s contracting.
Appraisal Buzz
SEPTEMBER 23, 2022
The MBA reports that new home purchase applications were down year-over-year in August, but rebounded in after four consecutive months of declines. The post Purchase Mortgage Apps for New Homes Dropped 10% YoY in August appeared first on theMReport.com. The post Purchase Mortgage Apps for New Homes Dropped 10% YoY in August appeared first on Appraisal Buzz.
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Appraisal Buzz
SEPTEMBER 23, 2022
Black Knight Inc. has released a “first look” the latest iteration of its Mortgage Monitor Report for August 2022, which looks at delinquency and foreclosure rates across the U.S. According to Black Knight, the national delinquency rate fell to 2.79% in August. The delinquency rate was 2.89% in July, 2.84% in June, 2.75% in … The post Delinquencies Still Well Below Pre-Pandemic Levels—When Will That Change?
Housing Wire
SEPTEMBER 23, 2022
This week’s HW+ member spotlight features Katherine Mechling, director of communication at Side. HW Media: What is your current favorite HW+ article and why? Katherine Mechling: I’d point to Derek Brummer’s piece in the June issue: “ The American dream and the affordability crisis.” We can sometimes get tunnel vision in this industry thinking about affordability as it impacts our own personal bottom lines.
Appraisal Buzz
SEPTEMBER 23, 2022
As prices on everything increase across the board, more and more are turning to renting—either by circumstance or by choice. Renting has traditionally been the cheaper option for those looking for housing, but as housing prices started their charge upwards in 2020, rent kept pace, consistently posting rent increases. But according to Realtor.com, August 2022 … The post August Rents Pull Back for First Time in Over a Year appeared first on theMReport.com.
Housing Wire
SEPTEMBER 23, 2022
A recent article, “Stop subsidizing Wall Street buying up homes,” perpetuates an uninformed stereotype of single-family rental home companies while revealing a serious neglect for the important contributions industry firms bring to today’s housing market. Contrary to their portrayal as indiscriminate buyers of properties far and wide, providers of single-family rental homes are working diligently to respond to the demand for quality, affordably priced rental housing in safe, well-located neighbo
Appraisal Buzz
SEPTEMBER 23, 2022
Fix-and-flip investors enjoyed another strong quarter in Q2, as the total number of properties flipped nationwide was the second-highest ATTOM recorded over the past 22 years. The post Q2 Profits on Home Flips Hit New High appeared first on DSNews. The post Q2 Profits on Home Flips Hit New High appeared first on Appraisal Buzz.
Housing Wire
SEPTEMBER 23, 2022
Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . The National Community Reinvestment Coalition (NCRC) then returned the volley in an op-ed by Jesse Van Tol advocating for extending CRA to IMBs. And HousingWire brought us together for a spirted “Lunch and Learn” debate on the topic.
Appraisal Buzz
SEPTEMBER 23, 2022
The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. The agency also seeks public input on ways to support … The post CFPB Announces Efforts to Prompt New Opportunities for Homeowners appeared first on theMReport.com.
Housing Wire
SEPTEMBER 23, 2022
All eyes have been on the Federal Reserve as the housing industry tries to account for the Fed-driven slowdown of the housing market. As a result, lenders have been closely watching and planning for how this impacts their portfolios and business given the increase in mortgage interest rates. To help shed some light on how companies are strategically navigating the economic changes in the market, we’re hosting a Q&A with Alec Hollis, managing director at ALM First Financial Advisors , d
Appraisal Buzz
SEPTEMBER 23, 2022
The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. The agency also seeks public input on ways to support … The post CFPB Seeks to Expand Homebuyer Options appeared first on DSNews.
Appraisal Buzz
SEPTEMBER 23, 2022
Under the Fiscal Year Notice of Funding Opportunity, HUD has pledged $1.4 million to The Urban Institute and Horne, LLP to assist low-income renters and communities impacted by disasters. The post HUD Awards $1.4M for Disaster Recovery Research appeared first on DSNews. The post HUD Awards $1.4M for Disaster Recovery Research appeared first on Appraisal Buzz.
Cleveland Appraisal Blog
SEPTEMBER 23, 2022
Hello! I hope you’re having a fantastic week! This week I am happy to welcome back guest blogger Shirley Martin. In this article, she offers some great tips on traveling between homes with our pets. I hope you enjoy it! Owning a home in another state can be a challenge with travel, organization, and house maintenance tasks. Another challenge for second homeowners is dealing with their pets.
Appraisal Buzz
SEPTEMBER 23, 2022
According to Redfin’s latest market analysis, some 44.6% of home offers written by Redfin agents nationwide faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly ground to a halt. That number is down from 63.5% a year earlier, and a … The post Bidding-War Rate Reaches Lowest Level Since 2020 appeared first on DSNews.
Appraisal Buzz
SEPTEMBER 23, 2022
According to Redfin’s latest market analysis, some 44.6% of home offers written by Redfin agents nationwide faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly ground to a halt. That number is down from 63.5% a year earlier, and a … The post Mortgage Rates Price Homebuyers Out of Market appeared first on theMReport.com.
Appraisal Buzz
SEPTEMBER 23, 2022
According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023. According to the ESR, economic growth is projected to resume in the second half of 2022, but the … The post Tumultuous Economic Conditions on Horizon After Recent Fed Move appeared first on theMReport.com.
Appraisal Buzz
SEPTEMBER 23, 2022
Homebuyer affordability improved for the third consecutive month in August, with the national median payment applied for by applicants decreasing to $1,839 from $1,844 in July. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time –relative to income– using data … The post Homebuyer Affordability Inches Upward in August appeared first on theMReport.com.
Lamacchia Realty
SEPTEMBER 23, 2022
Massachusetts Home Sales Down 11.6%. Sales are down 11.6% year over year with August 2022 at 8,844 over 10,004 last August. Sales are down across all categories. Single families: 6,318 (2021) | 5,732 (2022) Condominiums: 2,773 (2021) | 2,298 (2022) Multi-families: 913 (2021) | 814 (2022) Average prices have continued their rise with another year-over-year increase of 4.1%, now at $608,270.
Appraisal Buzz
SEPTEMBER 23, 2022
As prices on everything increase across the board, more and more are turning to renting—either by circumstance or by choice. Renting has traditionally been the cheaper option for those looking for housing, but as housing prices started their charge upwards in 2020, rent kept pace, consistently posting rent increases. But according to Realtor.com, August 2022 … The post Studio Apartments Prices Lead Rent Charge appeared first on DSNews.
Appraisal Today
SEPTEMBER 23, 2022
Sellers Chasing the ball down the road in real estate. By Ryan Lundquist. Excerpts: Commentary from a (Ryan) appraisal: Here is a bit of commentary in one of my recent appraisal reports. This is only part of what I say because I’m a man who needs a few paragraphs. One box just isn’t enough. “At the least we ought to describe the market as showing a downward seasonal shift, though it’s possible we can call this a downward cycle if the trend persists over time.
McKissock
SEPTEMBER 23, 2022
McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership?
BiggerPockets
SEPTEMBER 23, 2022
Modular homes don’t have the same market sentiment that traditional housing does. For many people, the thought of building a home in a factory only comes with anxiety. Decades ago, […].
BiggerPockets
SEPTEMBER 23, 2022
Student loan debt—the gift that keeps on giving with interest, stress, and the overwhelming feeling that you won’t be able to pay them off. The larger the loan, the heavier […].
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