Housing Wire

MARCH 4, 2021

The average mortgage rate for a 30-year fixed loan rose 5 basis points last week to 3.02%, marking the first time since July that the industry has seen rates break above 3%, according to Freddie Mac ’s Primary Mortgage Market Survey. Since reaching a low point in January, mortgage rates have risen by more than 30 basis points as the economy works to recover, and according to Sam Khater, Freddie Mac’s chief economist, the impact on purchase demand has been noticeable.

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Cleveland Appraisal Blog

MARCH 4, 2021

Like most aspects of an appraisal, things seem easy. That is, until one takes a closer look. Age is a good example. It seems logical to think that a newer home is more valuable than an older home. However, that’s not always the case. Last week, a real estate agent asked me about how appraisers adjust for age. So, I thought this would be a good topic to discuss.

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Housing Wire

MARCH 4, 2021

United Wholesale Mortgage , the top wholesale lender in the nation, announced on a Facebook live Thursday that it will no longer partner with brokers who also work with Rocket Mortgage and Fairway Independent Mortgage Corp. Mat Ishbia, president and CEO of UWM, gave brokers and owners a deadline of March 15 to sign an addendum saying they are not working with those two lenders.

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BiggerPockets

MARCH 4, 2021

Tenants may come to you and tell you they have an emotional support animal. It could be as normal as a dog—or as strange as a peacock. Here's what emotional support animal laws say you can and can't enforce when it comes to your pet policy.

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Housing Wire

MARCH 4, 2021

2021 is already shaping up to be a vastly different year than 2020 for the mortgage and real estate industry, and it’s not only because we’re entering a purchase market. All indications are that compliance and enforcement will again move into the strategic conversations of owners and executives. This won’t only be true for the origination side of the mortgage transaction.

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Empire Appraisal Group

MARCH 4, 2021

Housing Markets With the Highest, Lowest Inventories. Source: Housing Markets With the Highest, Lowest Inventories | Realtor Magazine. Housing inventories aren’t being replenished fast enough for home shoppers. As a result, they’re finding fewer and fewer home choices. At the end of December 2020, housing inventory was 23% lower than a year earlier and sitting at an all-time low of 1.9-month supply at the current sales pace, according to the National Association of REALTORS®.

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Inventory Housing Market Marketing Realtors 60

BiggerPockets

MARCH 4, 2021

Making an offer on a home can feel like it’s happening so quickly that you hardly have any time to think. Take a moment to make sure that you (and […].

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Housing Wire

MARCH 4, 2021

Figure Technologies CEO and co-founder Mike Cagney never intended to build a mortgage lending company. Upon leaving SoFi , Cagney and the founding team at Figure were laser-focused on applying blockchain technology to financial services. But now, with proof of concept cleared and a large war chest, he intends to buy a mortgage lender to achieve scale.

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BiggerPockets

MARCH 4, 2021

Most listeners of the show will know that a cash cushion is always great to have and should be mandatory for almost everyone. Having a cash reserve of 6-12 months […].

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Finance 38

Housing Wire

MARCH 4, 2021

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022. “At a time when so many consumers are struggling and at risk of losing ground, particularly Black and Hispanic consumers, we need to do all we can to help people stay in their homes and to ensure the availability of responsible, affordable mortgages,” said CFPB Acting Director David Uejio.

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BiggerPockets

MARCH 4, 2021

Househacking is one of the most popular real estate investing strategies for a reason—you can put very little money down and get a whole lot in exchange. Here are five markets where you can house hack with less than $20,000.

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Housing Wire

MARCH 4, 2021

Fintech company Plaid has announced the release of Income, a beta product looking to simplify income verification so customers can secure loans, qualify for mortgages, rent apartments, lease vehicles, and more. The company said Income can also be used by mortgage lenders to capture and “digest” a person’s income data directly from their payroll provider to make more informed decisions about their creditworthiness.

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BiggerPockets

MARCH 4, 2021

Retail stores were going under at a swift pace as online shopping overtook America in the past two decades. Then the pandemic put this trend into hyperdrive in 2020, and the carnage continues. Though it doesn’t erase the nostalgic pain, it's possible to profit from this sad situation.

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The Robert Weiler Company

MARCH 4, 2021

Could we all be living in an episode of The Jetsons someday? Mixed-use development in 2021 may not resemble Orbit City, but commercial builders, architects, and real estate investors are undoubtedly re-engineering the proximity of your personal and professional orbit. Flying cars would be awesome; however, we hope there isn’t a need for tall structures to rise above the smog!

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Housing Wire

MARCH 4, 2021

Multifamily property owners who are struggling to make mortgage payments due to the coronavirus pandemic now have a reprieve through the end of June for mortgages backed by Fannie Mae and Freddie Mac , the Federal Housing Finance Agency announced on Friday. Forbearance options for multifamily mortgages backed by the GSEs were set to expire on Mar. 31, but the FHFA has extended that till June 30, 2021, provided landlords are also extending benefits to their renters.

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Tenants Landlords Housing Market Finance 491

Housing Wire

MARCH 4, 2021

As reported yesterday, The Consumer Financial Protection Bureau released a notice of proposed rule-making that would “delay the mandatory compliance date of the general qualified mortgage rule 15 months to Oct. 1, 2022.” The bureau said: “extending the mandatory compliance date of the general QM final rule would allow lenders more time to offer QM loans based on the homeowners’ debt-to-income ratio, and not solely based on a pricing cut-off.”.

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