Thu.Jul 21, 2022

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Purchase mortgage rates rise ahead of Federal Reserve meeting

Housing Wire

Purchase mortgage rates increased for the second consecutive week but at a slower pace as the market chewed on the latest U.S. inflation data, the expectation of a tightening Federal Reserve ’s monetary policy, and its economic impacts. . After jumping 20 basis points last week to 5.50% , purchase mortgage rates increased this week to 5.54%, according to the latest PMMS survey from Freddie Mac.

Mortgage 391
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Median Rental Price Hits New High for 16th Consecutive Month

Appraisal Buzz

Nationally, the gap between monthly starter homeownership costs and rents widened by 25.5 percentage points (+$483) from January to June, according to the latest Realtor.com Monthly Rental Report. New data illustrates how higher mortgage rates are increasingly tipping the housing affordability scale in favor of renting over first-time buying. Additionally, more than three-quarters of the … The post Median Rental Price Hits New High for 16th Consecutive Month appeared first on DSNews.

Appraisal 195
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In a bad mortgage market, these are areas of opportunity for lenders

Housing Wire

Home listings grew, credit scores improved and tappable home equity increased in the second quarter of 2022 from the first quarter. Those the three areas represent an opportunity for lenders grappling with a deeply challenging mortgage market, Sales Boomerang said in its second quarter mortgage opportunities report. Sales Boomerang reviewed data from more than 170 residential mortgage lenders that use its platform to monitor millions of customer and prospect records.

Mortgage 391
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Craig Crabtree: Housing Affordability Has Become a Major Issue

Appraisal Buzz

PERSON OF THE WEEK: Mortgage interest rates continued to rise this past week, with the average rate for a 30-year fixed-rate mortgage climbing to 5.54%, up from 5.51% the previous week and up significantly from 2.78% a year earlier, according to Freddie Mac. Meanwhile, home prices have increased more than 20% on average during the past year, raising affordability concerns as more potential homebuyers get priced out of the market.

Appraisal 195
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Warehouse lenders stung by FGMC’s bankruptcy

Housing Wire

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. (FGMC) show the lender left its warehouse lenders holding the bag for a mound of debt. FGMC and its affiliate, Maverick II Holdings LLC , on June 30 filed to reorganize under Chapter 11 bankruptcy protection. Pleadings filed in the case — now pending in U.S. Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital B

Finance 391
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Second Home Sales Up 200% During Pandemic

Appraisal Buzz

While the pandemic caused many people to reassess their living situations as the virus began ravaging the country during the first quarter of 2020, many made hard decisions, some went the complete opposite way by doubling down and purchasing a second home. According to Pacaso, a technology-enabled real estate marketplace, the trend of people buying … The post Second Home Sales Up 200% During Pandemic appeared first on DSNews.

More Trending

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30-year FRM Average Changes from 2.78 to 5.54 Percent in One Year

Appraisal Buzz

Freddie Mac ’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.54% with an average 0.8 point as of July 21, 2022, up from last week when it averaged 5.51%. A year ago at this time, the 30-year FRM averaged 2.78%. “The housing market remains sluggish as mortgage rates inch up for a second consecutive week,” observes Sam Khater, Freddie Mac’s chief economist.

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Mike Smith named CFO of Doma

Housing Wire

Title insurance provider Doma has appointed Mike Smith as its chief financial officer, according to a Thursday announcement. Before he was named CFO on Tuesday, Smith had served as Doma’s chief accounting officer and acting CFO. “The promotion of Mike to chief financial officer is a testament to his financial leadership and extensive experience at the company, and beyond,” said Doma CEO Max Simkoff, according to the announcement.

Insurance 381
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FHFA Takes Aim at Fintech

Appraisal Buzz

By founding the Office of Financial Technology, the Agency will address emerging risks related to the adoption and deployment of financial technology in housing finance. The post FHFA Takes Aim at Fintech appeared first on DSNews. The post FHFA Takes Aim at Fintech appeared first on Appraisal Buzz.

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Marin County Home Prices by City – July 2022

Realvals

The following map shows the Marin County home prices by city for July 2022. Insights are below. Marin County home prices continue to increase towards the end of July 2022, for the most part, despite the higher interest rates, time of year, and other macroeconomic factors. Some areas are starting to show signs of stabilization, especially in the higher-end markets.

Marketing 148
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Fannie Mae Revises Housing Outlooks

Appraisal Buzz

The current state of the real estate market—which is now adapting to record high inflation and higher interest rates—is giving real estate companies and experts a run for their money as the continued pressure of these forces is causing problems for those making predictions for the future. The latest forecast to be downgraded comes from … The post Fannie Mae Revises Housing Outlooks appeared first on DSNews.

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Proposed Rule to Eliminate C&R Fee Tabled

Appraiserblogs

Yesterday morning, I attended the Georgia state appraisal board hearing on the proposed rule to eliminate the C&R fee law they have in place. You know, the one that is similar to the one in Dodd-Frank. The Georgia appraisal board apparently is being investigated by the FTC for their law. They thought that the FTC vs the Louisiana case was a ruling in favor of the FTC when in fact it was not, and wanted to avoid any sort of notion that they were price fixing or of anti trust.

Law 116
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Most Fun States? Fla. Ranks as No. 2

Empire Appraisal Group

Most Fun States? Fla. Ranks as No. 2. Source: Most Fun States? Fla. Ranks as No. 2 | Florida Realtors. Why should someone move to Fla.? Because it’s officially fun, according to a WalletHub study that looked at entertainment, recreation and nightlife. NEW YORK – A WalletHub study sought to gauge how fun states are by evaluating 65 metrics across three categories: entertainment and recreation, nightlife and parties, and overall costs.

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Brianna Desrochers Named Employee of the Month for June 2022

Lamacchia Realty

Behind the incredible REALTORS® of Lamacchia Realty is a team of over 75 staff members that work tirelessly to support, propel, and operate the independently owned brokerage. Each and every staff member plays an integral role in the continued success of the quickly growing company. Lamacchia Realty views it’s staff members in the highest regard, fostering the values the full service, value-based brokerage prides itself on.

Realty 68
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The State of Commercial Real Estate in Canton

Willowbrook Valuation

At Willowbrook Valuation, we’ve spent time analyzing a multitude of locations in the Baltimore-Washington metro area as part of our work with commercial real estate clients. In this blog, we take a closer look at Canton, a thriving harborside neighborhood in Baltimore, MD. The future looks bright for commercial real estate in Canton, and we […].

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Storage Solutions When There’s no Basement or Garage

Lamacchia Realty

STORAGE SOLUTIONS WHEN THERE'S NO BASEMENT OR GARAGE. Dealing with the idea of having a home without a garage or basement may scare a lot of people. Think about all that extra storage space you get with a basement or a garage, especially for outdoor accessories. However, there are other storage solutions to help ease your anxiety of where the kid’s sports equipment or your gardening tools are going to stay.

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Finance Friday: How to Invest When the 20-Year Grind Pays Off

BiggerPockets

Retirement strategies range from simple index fund investing all the way to full-on real estate development deals. What works for some investors won’t work for others. What’s most important to […].

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CMHC reveals latest mortgage industry trends

Mortgagebroker News

The Crown corporation's latest report had significant news on alt-lending and racial inequality in the mortgage market

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The #1 Thing You Should Do To Avoid High Tenant Turnover Costs

BiggerPockets

There are a lot of methods you might know to be obvious when trying to avoid high turnover costs with a rental property, such as proper tenant screenings and conducting […].

Tenants 60
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How are brokers advising their clients on rate hikes?

Mortgagebroker News

Fixed rates remain prohibitively high despite variable increases, says broker

Clients 69
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Lakes of Michigan | Elk Lake

Berkshire Hathaway

Quick Facts. Located in Antrim/Grand Traverse County. Natural freshwater lake. 8,194 acres. Shoreline: 28 miles. Average Depth: 54 feet. Maximum Depth: 192 feet. Public Access Sites: 37. Lake Activities. Fishing | Ice Fishing | Boating (motor, sail, paddle) | Swimming | Beach | Water Skiing/Wakeboarding/Tubing. Local Attractions. Birding | Camping | Dining | Golfing | Hiking | Shopping | Snowmobiling | Snowshoeing.

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Labour shortage problem to remain well past recession in 2023

Mortgagebroker News

Economists are calling for more immigrant workers to fill job vacancies

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Houston Lofts For Sale

Houston Properties

Houston Lofts For Sale. See Houston loft pictures and compare amenities, prices, and lofts for sale features. The revival of Houston’s high-rise and loft projects is in full swing. For the last several years, Houston has undergone a dramatic transformation not seen since the Allen brother first established the city of Houston in the early 1800s. Don’t miss the opportunity to see some of the exciting loft projects with lofts for sale in Houston today.

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Luxury markets start to normalize following surge

Mortgagebroker News

The period of its "historically anomalous performance" is over

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5 Key West University Real Estate Trends

Houston Properties

5 Key West University Real Estate Trends. See West University real estate, home sales, and investment data. The article covers neighborhood analysis and review of homes for sale. West University is one of Houston’s most expensive neighborhoods. In addition, real estate in West University has been one of the city’s best investments over the past decade.

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How auction buyer data foreshadows housing market shifts

Housing Wire

Retail housing market data from June showing early signs of a real estate slowdown was foreshadowed three months earlier in buyer behavior at foreclosure auctions. The retail housing market data, released by Redfin at the end of June, shows the median asking price for newly listed homes for sale in the four weeks ending June 26 dropped 1.5% from an all-time high in the previous month even while a record share of all homes for sale saw price drops.

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Guide To ALL Piney Point Homes For Sale

Houston Properties

Guide To ALL Piney Point Homes For Sale. Search All Piney Point homes for sale by location, price, and type. The article also covers pictures and real estate trends. Aside from having one of the most expensive real estate west of Houston, Piney Point Village is the wealthiest community per capita income in Texas. A part of the Memorial Villages , Piney Point features luxury homes and grand estates.

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Macklem: Expect inflation to remain "painfully high" for the rest of 2022

Mortgagebroker News

Rate is unlikely to go much lower

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Royden Oaks Houston Neighborhood Maps

Houston Properties

Royden Oaks Houston Neighborhood Maps. This article covers two new Royden Oaks Houston map, direction, neighborhood and real estate guide. Royden Oaks Houston is a luxury neighborhood directly west of River Oaks. It is considered one of the 20 most exclusive neighborhoods in the city of Houston. Royden Oaks sits within the Interstate 610 loop. Westheimer Road borders its south, San Felipe Road to its north, Willowick Road to its west, and Timber Lane to its east.

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How tech provides real value to mortgage clients

Mortgagebroker News

Find out how the right set of tools can improve your business

Clients 68
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Home Building Construction Times Slow in 2021

Eyes on Housing

The 2021 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 8.2 months, which typically includes a little over a month from authorization to start and another 7.1 months to finish the construction. Moreover, it took approximately 12 days more in 2021 than in 2020, as supply-side challenges persisted.

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Most Canadians are willing to relocate to buy a home – RE/MAX

Mortgagebroker News

RE/MAX also reveals the most affordable markets to move to

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Oak Estates Houston Neighborhood Maps

Houston Properties

Oak Estates Houston Neighborhood Maps. Two new updated maps of Oak Estates in Houston TX. See Oak Estates Houston homes, neighborhood, and real estate guide. Oak Estates Houston is quintessentially Inner Loop. This charming Inner Loop neighborhood in the shadows of River Oaks offers an incredible location, a peaceful ambiance, and beautiful scenery.

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Talented, accomplished, 35 or younger

Mortgagebroker News

Time is running out to be named in this year's Rising Stars report

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