Wed.Sep 21, 2022

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What does the new normal for first-time homebuyers look like?

Housing Wire

Before the pandemic, the historical average of annualized house price growth was approximately 4%. Yet, pandemic-era dynamics exacerbated an already large housing demand and supply imbalance, fueling record-breaking annual house price growth, peaking at nearly 21%. Today, as affordability wanes and housing supply ticks up, house price growth is decelerating and will likely continue to trend towards its historical average.

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Choosing comps in a changing market

Sacramento Appraisal Blog

I’ve been getting asked lots of questions lately about choosing comps since the market shifted. Here are some things people have been asking me. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (Sign up here – On Zoom) 10/13/22 Market update in Midtown (details TBD) 10/20/22 How to Think Like an Appraiser (9am-12pm) (Sign up […].

Marketing 379
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5 TikTok accounts every LO should be following

Housing Wire

Are you on TikTok yet? Your future borrowers could be – the social media app is expected to reach 1.8 billion users by the end of 2022, with many users falling under the Millennial and Gen Z umbrellas. As more of these younger borrowers begin to show interest in buying a home, it’s a great idea to use TikTok not only as a way to connect with prospective borrowers, but to educate them on mortgage as well.

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The Eyes and Ears of the Lender

Appraisal Buzz

Today’s Buzzcast interview is with Ken Dicks, Director of Appraiser Compliance for Reggora. We sat down with Ken and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool when it comes to lenders and a lender perspective. What are ways in which appraisers act as the eyes and ears? What can lenders take away from an appraiser’s expertise regarding a property?

Tools 195
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Fifth Third Bank unveils new warehouse lending business

Housing Wire

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The lender ’s new warehouse financing arm will be led by Donnie Martin, who has more than 25 years of mortgage industry experience. Martin, Firth Third’s group head of mortgage warehouse finance, along with a team of warehouse lending professionals, will be based in Dallas.

Lending 382
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Should We Think About Thinking?

George Dell

Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort. “What will people think of me — if my […]. The post Should We Think About Thinking?

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Housing Permits Fall Back Again in August

Eyes on Housing

In August, housing starts rebounded but housing permits declined for the second straight month. The August drop in building permits indicates that the housing market is continues to cool as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market. Overall housing starts rose 12.2% to a seasonally adjusted annual rate.

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Existing home sales continued their slide in August

Housing Wire

Existing home sales continued to fall in August, as homebuyer demand cooled further as a result of the Federal Reserve’s inflation-busting policy. The seasonally adjusted sales rate for existing homes fell 0.4% month over month in August to a rate of 4.80 million, according to a report from the National Association of Realtors (NAR) released Wednesday.

Inventory 370
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What Is A Final Inspection?

Birmingham Appraisal

A Closer Look At The Final Inspection. You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals. For many types of appraisals, there is only one inspection or observation as we like to call it. Because an appraisal is nothing like a home inspection, that term could be somewhat misleading.

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Mortgage applications rise ahead of Fed’s meeting

Housing Wire

Demand for mortgage loans increased for the first time in six weeks, ahead of the Federal Reserve ’s meeting on Wednesday, when observers expect at least another 75 basis points hike to the federal funds rate. According to the Mortgage Bankers Association (MBA), the market composite index , a measure of mortgage loan application volume, increased 3.8% for the week ending Sep. 16, compared to the previous week.

Mortgage 393
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Rent Inflation Stays High but May Not Sustain Itself

Mashvisor

Just when you think it couldn’t get any worse, it did. Housing and rent are now the new gas, with rent inflation hitting consumers really hard.

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Homepoint the latest lender to raise conforming loan limits

Housing Wire

Ann Arbor, Michigan-based mortgage lender Homepoint has raised conforming loan limits ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected to November. The decision follows that of competitors Rocket Mortgage , United Wholesale Mortgage , Pennymac and Finance of America. The company on Wednesday accepted a $715,000 conventional conforming limit for one-unit properties, up 10.5% from the current $647,200 level.

Finance 370
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3 Rentals Right Out of College as a Young Dad and First-Time Landlord

BiggerPockets

A successful investor finds their “why” where other people find excuses. Real estate investing isn’t without its challenges, but as you overcome more challenges, you become a better investor. Today’s […].

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Major market correction imminent unless feds act soon, says top exec

Mortgagebroker News

Canadian housing market and the consumer public don't need to be at risk, argues exec

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Housing completion data is now savagely unhealthy

Housing Wire

Housing construction in the U.S. during the brief COVID-19 recession, to that recovery, and now in the new housing recession, is going to go down in history as one of those crazy data lines we lived through. Just to give you some perspective here, at the peak of 2005, we had about 2.24 million housing completions in the monthly report. Today, even with over a decade of building growth, we are at 1.342 million.

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Brokers on Lenders 2022: The results are in

Mortgagebroker News

Find out how brokers viewed lenders' performance on turnaround times, broker support, product range and more

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House Before Spouse: Single Women Are Buying More Homes Now Than Ever

BiggerPockets

A new trend in home buying shows women are ditching the traditional custom that marriage should precede homeownership. According to the National Association of Realtors, in 2021, single women made […].

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RBC on the state of Canada's household wealth

Mortgagebroker News

Significant slowdown in housing, bond, and equity markets had a major influence on Q2 figures

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Brokers on Lenders 2022

Mortgagebroker News

Brokers reveal what makes an excellent lender and choose the top performers in 2022

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Are variable-rate holders making the switch to fixed?

Mortgagebroker News

A series of increases in 2022 have seen variable rates surge

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How open banking could transform Canada's mortgage space

Mortgagebroker News

The broker channel could be set for huge strides in the coming years, says company president

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Avison Young on Vancouver's recent commercial market performance

Mortgagebroker News

Various market pressures did not prevent the market from registering near-record highs

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Bank of Canada says inflation is still too high

Mortgagebroker News

It is heading in the right direction, however…

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