Housing Wire
NOVEMBER 2, 2022
Borrowers’ demand for mortgage loans declined at a slower pace last week when mortgage rates dropped slightly ahead of the Federal Reserve ’s (Fed) meeting to announce the new target for the federal funds rate. According to the latest survey from the Mortgage Bankers Association (MBA), the mortgage composite index for the week ending Oct. 28 fell 0.5% from the prior week and 68% compared to the same period in 2021.
Eyes on Housing
NOVEMBER 2, 2022
An earlier post revealed that a record 70% of buyers who were actively engaged in the process of finding a home in the third quarter of 2022 have spent 3+ months searching for a home without success. Those buyers also have higher incomes and education levels than in previous quarters. The most common reason these long-term searchers cite for not.
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Housing Wire
NOVEMBER 2, 2022
Amid a surprisingly strong U.S. economic performance and persistent inflation, the Federal Reserve on Wednesday raised the federal funds rate by another 75 basis points, to 3.75%-4%, launching it to the highest level since December 2007. The decision, expected by most Fed observers and the financial markets, is intended to further slow down the housing market.
Eyes on Housing
NOVEMBER 2, 2022
Continuing its tightening of financial conditions to bring the rate of inflation lower, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 75 basis points, increasing that target to an upper bound of 4%. This marks the fourth consecutive meeting with an increase of 75 basis points and pushes the fed funds rate to a 15-year.
Housing Wire
NOVEMBER 2, 2022
Despite new language in the Federal Open Market Committee statement that suggested a potential slowdown in curbing inflation, Federal Reserve Chairman Jerome Powell maintained a hawkish tone on raising the federal funds rates during Wednesday’s press conference. And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year.
Eyes on Housing
NOVEMBER 2, 2022
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 66% in the third quarter of 2022, which is statistically unchanged from the last quarter reading (65.8%). It is 0.6 percentage points higher than the rate in the third quarter of 2021. The national rental vacancy rate rose to 6%, while the homeowner vacancy rate inched up.
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Appraiserblogs
NOVEMBER 2, 2022
Racket at Attorneys General Group Will Ring Familiar to Appraisers The nation’s licensed real property appraisers will recognize a scheme run by a nonprofit known as the National Association of Attorneys General. It will remind the former of the abuses visited on them by a tiny, free-spending 501(c)(3) publisher and its captured federal minder. The National Association of Attorneys General describes itself as a nonpartisan national forum for America’s state and territory attorneys general and th
Housing Wire
NOVEMBER 2, 2022
The National Association of Mortgage Brokers ( NAMB ), a trade association representing mortgage professionals and homebuyers since its establishment in 1973, announced its agenda for 2023 at it NAMB National conference. According to a statement, NAMB pledged to advocate for a range of initiatives, including: The Trigger Leads Prohibition Act, which protects consumers’ data from being sold to companies that are not involved in mortgage processing transactions, Working with lawmakers on the 3% Qu
GoForrmz
NOVEMBER 2, 2022
Review our webinar for key takeaways on your own time Today's economic climate makes it imperative that businesses, particularly in the global cleaning industry, find new ways to increase employee productivity without compromising their bottom line. This is why organizations (big and small) are turning to GoFormz as a solution for converting their cumbersome, ineffective, and costly paper worksheets into dynamic mobile forms that enable real-time data collection and analysis.
Housing Wire
NOVEMBER 2, 2022
Rithm Capital , formerly known as New Residential Investment , delivered a $124.5 million profit from July to September, due primarily to its servicing portfolio performance. In the third quarter, the company intensified the diversification of its businesses and further downsized its mortgage business amid a challenging macroeconomic landscape. . ?
Lamacchia Realty
NOVEMBER 2, 2022
Paul J. Cervone has officially qualified for the 2022 President’s Club ELITE by surpassing over $24,000,000 in sales volume! This is Paul’s third year reaching this impressive milestone, having previously qualified in 2020 and 2021. Paul is also a member of the 2019 , 2020 , 2021 , and 2022 President’s Club. This achievement is one of many for Paul in 2022, having been named in the 2022 Boston Agent Magazine’s Who’s Who list and he also ranked on the 2022 RealTre
Housing Wire
NOVEMBER 2, 2022
The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. In the midst of this, a potential lapse in the National Flood Insurance is top of mind for many. . In light of that, HW Media Managing Editor of Content Solutions Maleesa Smith sat down with Scott Gibson, principal of product compliance at CoreLogic, to discuss the future of the NFIP, as well as potential reforms that could help the industry be more prepared
Valcre
NOVEMBER 2, 2022
The 2022 commercial real estate market is shifting and pivoting as a result of the pandemic.
Housing Wire
NOVEMBER 2, 2022
It’s clear that 2023 will be a very different year for the title industry than what we’ve experienced in the recent past. Despite the forecasted decline in orders, we’re still expecting an overall origination volume of just over $2 trillion. Historically, that has represented a solid market, albeit not spectacular. Regardless, it’s clear that title businesses will need to compete for their share of that available volume, in large part, by differentiating themselves from the competition.
BiggerPockets
NOVEMBER 2, 2022
A recession is a normal (some might argue), inevitable part of the economic cycle. Many factors influence the dynamics of one, such as decreased consumer spending, a rise in unemployment rates, lower […].
Mortgagebroker News
NOVEMBER 2, 2022
The possibility of stubbornly high inflation is the "key risk" facing the Bank, says CEO
BiggerPockets
NOVEMBER 2, 2022
Real estate investing wouldn’t be the same without BiggerPockets. If you were lucky enough to attend BPCon 2022 in sunny San Diego, you’ll know what we mean. With a sea […].
Mortgagebroker News
NOVEMBER 2, 2022
Proposed legislation came in the wake of a rental regulator's announcement of a substantial hike
BiggerPockets
NOVEMBER 2, 2022
Chris Voss is an expert negotiator. After going from a street cop to the FBI and later thriving as a hostage negotiator, he wrote the world-famous book, Never Split the […].
Mortgagebroker News
NOVEMBER 2, 2022
Focusing on what's worked in the past is an invaluable asset, according to executive
George Dell
NOVEMBER 2, 2022
Statistical methods have been long touted in established appraisal education. Yet they seem to remain mystical and remotely related to what we actually see in appraisal reports. What happened? I was an early proponent of more numerical methods as opposed to judgment opinion methods. It seemed to me that adjustments taken off adjustment sheets seemed […].
Mortgagebroker News
NOVEMBER 2, 2022
The readings diverged significantly from the levels seen during the previous quarter
Mortgagebroker News
NOVEMBER 2, 2022
That's despite a significant sales slowdown in October
Mortgagebroker News
NOVEMBER 2, 2022
Canada aims to welcome 500,000 new arrivals in 2025
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