Thu.Sep 21, 2023

article thumbnail

Why are exisitng home prices up year over year?

Housing Wire

Existing home prices are up 3.9% year over year, with demand near 21st-century lows. How is this possible? NAR ‘s existing home sales report on Thursday gives us insight into the why factor. The median existing-home price for all housing types in August was $407,100, an increase of 3.9% from August 2022 ($391,700). All four U.S. regions posted price increases.

Inventory 503
article thumbnail

My Interview with the Senior Marketing Manager at CubiCasa

Cleveland Appraisal Blog

Hello everyone! I hope you all have been doing good and hanging in there. The real estate market has been on a crazy ride for the past few years. You may be wondering where in the world I’ve been. Did I go dark? Did I give up on blogging and podcasting? The answer is no. However, over the past year, my business has been changing rapidly as I shift away from lending work to non-lender work as my primary business.

Marketing 300
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mortgage rates lingering around 7.2% as Fed pauses hikes

Housing Wire

Mortgage rates remained well above 7% on Thursday as markets digested Wednesday’s Fed meeting. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.19% as of Sept. 21, up one basis point from last week ’s 7.18%. By contrast, the 30-year fixed-rate mortgage was at 6.29% a year ago at this time.

Mortgage 400
article thumbnail

A Correct Appraisal?

George Dell

Quasi-government “Congressionally-authorized” appraisal standards require “correct” research and analyses. What does that mean? What is correct? And who decides? It’s in Standard 1. Be correct. Editor’s Note: This is Standards, part 3.14 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Does this say – it’s […] The post A Correct Appraisal?

Appraisal 195
article thumbnail

Existing-home sales moved lower in August : NAR

Housing Wire

The housing market continues to cool amid high mortgage rates , affordability challenges and still-low inventory. In August, existing-home sales fell 0.7% from July to a seasonally adjusted annual rate of 4.04 million, according to a new report from the National Association of Realtors (NAR). Existing-home sales were down 15.3% compared to a year ago.

Inventory 398
article thumbnail

Mortgage rate relief? Not this year

Real Estate News

Rates inched up this week, and with Fed signals that interest rates will remain “higher for longer,” buyers may continue to face tough options.

Mortgage 243

More Trending

article thumbnail

Existing home sales fall for the sixth time in 2023

Real Estate News

Sales dipped in August but have been relatively stable on average — though well below last year's levels, reflecting high prices and limited supply.

230
230
article thumbnail

7 steps to improve your talent attraction game

Housing Wire

Recruiting and keeping the best talent is critical in today’s real estate market. It’s also becoming more challenging as production takes a hit from lower home sales. On a national basis, year-over-year MLS production reports show the average real estate agent’s income is down 28%. Broker-owners’ operations teams are receiving more and more “non-payment” of MLS dues notices.

Agents 381
article thumbnail

Attorneys scuffle over evidence as commissions trial approaches

Real Estate News

Both sides in the Sitzer/Burnett case filed motions over the right to use — or exclude — evidence from parties who have already settled.

223
223
article thumbnail

QC Ally acquires due diligence solutions firm Inglet Blair

Housing Wire

Loan quality and audit services company QC Ally on Thursday announced the acquisition of third-party due diligence solutions company Inglet Blair. Terms of the deal were not disclosed. In a statement on Thursday, QC Ally said the acquisition would allow the company to further its mission of helping financial services firms achieve “true enterprise quality” throughout the lifecycle of the loan, from origination to servicing and deeper into secondary markets.

Investors 334
article thumbnail

Surprisingly strong jobs report sends interest rates soaring

Inman

Drop in unemployment claims on the heels of hawkish Fed warnings sends 10-year Treasury yields soaring to a 15-year high, with mortgage rates likely to follow.

Mortgage 169
article thumbnail

ICE and DeltaTerra partner on climate-informed credit risk analytics solutions for MBS investors

Housing Wire

Intercontinental Exchange, Inc. (ICE) and investment research firm Delta Terra Capital announced a partnership to offer climate-adjusted credit risk analytics for residential and commercial mortgage-backed securities (MBS). The credit risk analytics will combine ICE’s physical climate risk data and DeltaTerra’s climate analytics, financial risk models, and market data to deliver risk impact estimates for investors in the residential and commercial mortgage-backed securities markets.

Investors 228
article thumbnail

Plunk to punch up marketing for Union Street Media, Realforce

Inman

Data from artificial intelligence-powered valuation company Plunk will be used to enrich the products of two real estate industry firms that specialize in marketing technology and services.

Marketing 159
article thumbnail

Existing Home Sales Hit 7-Month Low as Prices Keep Rising

Eyes on Housing

Existing home sales in August remained at the lowest level since January as limited inventory and higher mortgage rates continued to weigh on homebuyers, according to the National Association of Realtors (NAR). Low resale inventory and strong demand continued to drive up existing home prices, marking the third consecutive month where the median sales prices exceeded $400,000.

Inventory 104
article thumbnail

The best advice most real estate agents don’t want to hear

Inman

Knowing and acting on what you need to hear, Jimmy Burgess writes, instead of what you want to hear, is key to growing and optimizing your professional performance.

article thumbnail

Updates to Our Mobile App

GoForrmz

If you are filling out your forms on a mobile device, you’ll want to update your GoFormz app to our latest release Consistent look and feel We’ve made improvements to our mobile app, making it easier than ever to fill out and complete your digital forms from your phones and tablets. This update includes interface improvements that provide consistency across our Android, iOS, and Windows apps.

78
article thumbnail

Existing-home sales fall off 0.7% led by Southern, Western markets

Inman

Sales of existing homes slid 0.7 percent between July and August to a seasonally adjusted annual rate of 4.04 million but held steady in the Northeast and rose in the Midwest.

Marketing 154
article thumbnail

What Is a Lien in Real Estate?

BiggerPockets

A lien is a financial claim that a person or company has on a property. We'll explain the different types of liens and what they mean for investors.

article thumbnail

Broker Spotlight: Charlie Taylor and Jake Doilney, The Agency Park City

Inman

Learn how a former pro golfer and a lifelong real estate developer joined forces to share their love of Park City's lifestyle and culture with clients.

article thumbnail

Judging panel insight on 2023’s Top 50 Woman of Influence

Mortgagebroker News

Canadian Mortgage Professional’s Top 50 Women of Influence for 2023 have had an extraordinary impact by shaping the future of a dynamic market and lighting the path ahead for others

article thumbnail

8 client appreciation event expenses that are totally worth it

Inman

In today’s economy, every dime matters. Here are a few budget-friendly expenditures that author and coach Darryl Davis recommends for your next client appreciation event.

Clients 147
article thumbnail

Did High Interest Rates Kill House Flipping?

BiggerPockets

House flipping profits are off the charts, so why are so many house flippers leaving the market?

article thumbnail

FEMA flood insurance program faces dual existential threats

Inman

The National Flood Insurance Program is up against another deadline for renewal while a lawsuit from 10 states takes aim at its proposed pricing change.

Insurance 156
article thumbnail

Bank of Canada keen to avoid over-tightening policy rate

Mortgagebroker News

Recent data indicates that the 5% rate is helping steadily moderate the economy, according to the central bank

72
article thumbnail

The 6 Investment Accounts You NEED for Financial Freedom

BiggerPockets

If you’re new to personal finance, investment accounts can seem complicated.

article thumbnail

Exec on why brokers are the best consumer guides

Mortgagebroker News

The broker's wealth of knowledge is central in ensuring the best possible consumer experience

74
article thumbnail

No sign of relief in housing even as the Fed holds rates steady 

Housing Wire

The housing market will remain subdued until the Federal Reserve starts cutting rates next year, according to economists and housing pros following the central bank’s Wednesday announcement to leave the benchmark rate unchanged in the target range of 5.25%-5.5%. Until interest rates come down, affordability challenges will continue to put first-time buyers on the sidelines, housing industry observers said.

article thumbnail

The Most Influential Women in the Canadian Mortgage Industry | Top 50 Women of Influence 2023

Mortgagebroker News

Canada’s most influential women in the mortgage industry are shaping a more equitable future

article thumbnail

Lone Wolf Technologies CEO on the evolution of real estate tech

Housing Wire

HousingWire Editor in Chief Sarah Wheeler sat down with Jimmy Kelly, president and CEO of Lone Wolf Technologies , to discuss the company’s development process and his vision for a connected real estate platform. This interview has been edited for length and clarity. Sarah Wheeler : Let’s talk about the evolution of real estate tech from individual products to connected platforms.

article thumbnail

Canadian Mortgage Summit: reaction from a 'phenomenal' event

Mortgagebroker News

Brampton's Pearson Convention Center welcomed industry members for a day of education and networking opportunities

article thumbnail

Ginnie Mae president introduces social bond program to investors

Housing Wire

Ginnie Mae President Alanna McCargo delivered a keynote address at the Barclays U.S. Rates and Residential Mortgage-Backed Securities (RMBS) Conference in Tokyo, Japan , addressing Ginnie Mae mortgage-backed securities (MBS) potential value for investors and the company’s recently expanded social impact and sustainability work. “As I travel around the world, one thing is clear: global investors want more impact investment opportunities,” McCargo said during her speech.

Investors 367
article thumbnail

Which borrowers are hit hardest by the Bank of Canada's rate hikes?

Mortgagebroker News

The BoC's rate increases have pushed a significant share of mortgage holders to their limit

article thumbnail

Toronto red tape adds tens of thousands to building costs, new study suggests

Mortgagebroker News

The city's construction application volumes have also doubled over the last decade

article thumbnail

Revealed: The Canadian mortgage industry’s 2023 Women of Influence

Mortgagebroker News

Find out which industry trailblazers made the cut