Thu.Jan 20, 2022

Did existing home sales peak in 2021?

Housing Wire

The National Association of Realtors reported that existing home sales for December came in as a miss of estimates at 6.18 million. This number is in line with my sales range for 2021 of 5.84 million to 6.2 million, but a tad higher than my existing home sales range for 2022, which is between 5.74

Mortgage Applications Decreased 7.1% for New Home Purchases

Appraisal Buzz

The Mortgage Bankers Association Builder Application Survey released data for December 2021, showing mortgage applications for new home purchases decreased 7.1% compared from a year ago. Compared to November 2021, applications decreased by 5%.

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Mortgage rates have eclipsed 3.5%

Housing Wire

The average 30-year-fixed rate mortgage climbed to 3.56% during the week ending Jan. 20, rising from 3.45% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%.

Guild Mortgage Hires Victoria Garcia DeLuca as VP of Marketplace Diversity Strategy

Appraisal Buzz

Victoria Garcia DeLuca is the new vice president of marketplace diversity strategy for Guild Mortgage , an independent mortgage lender providing residential mortgage products and local in-house origination and servicing.

Buyers viewed just eight homes before making their purchase

Housing Wire

In 2021, homebuyers who successfully purchased a home viewed a median of only eight properties before completing their transaction, according to a report by the National Association of Realtors , published on Tuesday.

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Built-to-Rent Homes Projected to Hit Record High in 2022

Appraisal Buzz

According to a recent survey of 3,300 renters on RentCafé, as many as 78% said they were interested in living in a community of single-family homes.

More Trending

Race to Develop Built-to-Rent Homes Accelerating

Appraisal Buzz

Some 90,000 existing single-family homes in the United States in nearly 720 such communities are designed specifically for renting. The post Race to Develop Built-to-Rent Homes Accelerating appeared first on DSNews.

As omicron surges, some major lenders are quiet about safety measures

Housing Wire

During the onset of COVID-19 in 2020, mortgage lenders were eager to discuss the measures that they were putting in place to keep employees safe. Two years later, as the omicron variant surges, some lenders have very little to say.

Total Expert Appoints Chad Gaydos as President

Appraisal Buzz

SAP Senior Executive to scale business operations and accelerate growth and implement go-to-market sales and operations experience. The post Total Expert Appoints Chad Gaydos as President appeared first on theMReport.com.

“I don’t want to say we’re archaic”: Appraisal Institute president vows reform

Housing Wire

The residential real estate appraisal industry is staring at a fork in the road. The latest reminder is a report released Wednesday from the Appraisal Subcommittee , a part of the federal government in charge of monitoring appraiser standards.

Existing Home Sales Dipped in December

Appraisal Buzz

Closing the books on 2021, The National Association of Realtors (NAR) has reported that, during the month of December, existing-home sales declined 4.6% from November, to a seasonally adjusted annualized rate of 6.18 million, snapping a three-month streak of increases.

Existing Home Sales Strongest Since 2006 Despite Supply Limits

Eyes on Housing

Fueled by low mortgage interest rates and strong demand, annual existing home sales reached 15-year high in 2021, according to the National Association of Realtors (NAR).

Existing Home Sales Break Streak and Drop in December

Appraisal Buzz

Closing the books on 2021, The National Association of Realtors (NAR) has reported that, during the month of December, existing-home sales declined 4.6% from November, to a seasonally adjusted annualized rate of 6.18 million, snapping a three-month streak of increases.

Remodeler Sentiment Continues to Improve Year-over-Year

Eyes on Housing

The NAHB/Royal Building Products Remodeling Market Index (RMI) for the fourth quarter posted a reading of 83, up four points from the fourth quarter of 2020. The reading is a sign of positive residential remodeler sentiment for projects of all sizes.

Examining the Climate’s Impact on Migration

Appraisal Buzz

A new study has found that more are factoring natural disasters in their decision-making process when it comes to moving. The post Examining the Climate’s Impact on Migration appeared first on DSNews. The post Examining the Climate’s Impact on Migration appeared first on Appraisal Buzz.

Desktop Appraisals Coming Soon; Flips too

JMV Lending

“Flips” Still A Thing A “flip” is a home that has was recently purchased and then subsequently listed for sale – typically at a higher price point – within a specific time period (3 to 12 months, depending on investors or guidelines).

Wells Fargo Names New Chief Revenue Officer

Appraisal Buzz

Wells Fargo announced today that Derek Flowers has been appointed the company’s Chief Risk Officer, effective immediately. Flowers will lead all aspects of Wells Fargo’s Independent Risk Management function, including compliance risk management.

Buyers May Face Hidden Costs for Homes with Solar Power

Empire Appraisal Group

Buyers May Face Hidden Costs for Homes with Solar Power. By Kerry Smith. Solar-powered home” sounds like a great money-saving deal, but buyers should study possible costs before committing.

Mortgage Applications for New Home Purchases Drop in December, MBA Survey Shows

Appraisal Buzz

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2021 shows mortgage applications for new home purchases decreased 7.1% compared from a year ago. Compared to November 2021, applications decreased by 5%.

Desktop Appraisals Coming Soon

JMV Lending

Desktop Appraisals Are Coming! An appraiser recently charged us $2,000 for a basic appraisal in suburbia with a slightly larger lot and a moderately short time frame – because we could not find anyone else, and he knew it.

Staircase’s New Marketplace Enables Lenders to Quickly Preapprove Mortgage Applications

Appraisal Buzz

Staircase has launched a low-code marketplace that allows lenders to quickly build applications that automate mortgage processes.

How to Convert Your PDF Form Into A Fillable Web Form

GoForrmz

Convert PDF forms to fillable web forms in just a few clicks Converting your PDFs into dynamic, fillable digital forms is easy and requires no code or IT support to complete.

Factual Data Integrates Newgen’s Loan Origination System into Credit Services

Appraisal Buzz

Factual Data , a provider of credit and verification services to the lending industry, has conducted a credit integration with Newgen Software’s commercial loan origination system (LOS).

There Is No Pass Or Fail With Home Inspections

Lamacchia Realty

THERE IS NO PASS OR FAIL WITH HOME INSPECTIONS. A home inspection is an important part in the home buying process, however a common misconception is that it is a pass or fail type of inspection.

Mortgage Rates Climb for the Second Consecutive Week

Appraisal Buzz

After weeks of hovering just above the 3% mark, mortgage rates changed course for the second straight week, reaching highs last seen prior to the pandemic. The post Mortgage Rates Climb for the Second Consecutive Week appeared first on theMReport.com.

Saskatchewan's mortgage market – what to expect in 2022

Mortgagebroker News

The province saw its busiest year on record during the past 12 months

Mortgage Rates Maintain Upward Growth, Freddie Mac Reports

Appraisal Buzz

Freddie Mac ’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 3.56% with an average 0.7 point for the week ending January 20, 2022, up from last week when it averaged 3.45%. A year ago at this time, the 30-year FRM averaged 2.77%. Mortgage rates moved up again as the 10-year U.S. Treasury yield rose and financial markets adjusted to anticipated changes in monetary policy that will combat inflation,”.

CIBC's Tal on what will influence BoC rate decision

Mortgagebroker News

Economic pressures might push back the central bank's plans

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Existing-Home Sales Increased 8.5% for 2021

Appraisal Buzz

Existing-home sales declined in December, snapping a streak of three straight months of gains, according to the National Association of Realtors. Each of the four major U.S. regions witnessed sales fall in December from both a month-over-month and a year-over-year basis. Despite the drop, overall sales for 2021 increased 8.5%. . Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – dropped 4.6%

DLC earns new TSX listing

Mortgagebroker News

The mortgage giant's CEO described the news as a "significant milestone" for the company

10 Best Places for Buying a Vacation Home in Texas in 2022

Mashvisor

Buying and owning a property is already a huge responsibility. It will eat up a huge chunk of your budget and make a major dent in your finances. The thought… Buying Investment Property Investor Blogs buying vacation rental property Cash on Cash Return Out of State Investing Texas

Which buyer type dominates Canadian home purchases?

Mortgagebroker News

One demographic saw a greater increase in buying activity compared to others during the pandemic

20 Top Locations For Airbnb Income In 2022

Mashvisor

Since its launch in 2008, Airbnb has witnessed unprecedented growth. Over the past couple of years, Airbnb’s undoubtedly changed the way people view rental properties.

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Top 75 Brokers 2021: Who are the best in the business?

Mortgagebroker News

Time is running out to be part of CMP’s annual showcase