Housing Wire

JULY 9, 2023

The slow zombie crawl of housing inventory went lower last week as inventory was negative week to week. In addition, mortgage rates rose to a yearly high as labor data stayed firm and purchase apps had their first negative week after three straight weeks of positive growth. Weekly Active listings fell by 866 homes Mortgage rates rose to a year-to-date high of 7.22% Purchase apps were down 5% week to week Weekly housing inventory We had a hat trick in housing last week: weekly active listings wer

Housing Market 485

Housing Market Inventory Mortgage Marketing 485

Eyes on Housing

JULY 5, 2023

Consumer confidence in June rose to its highest level in 17 months as recession concerns eased. However, spending plans were mixed. Vacation intentions continued to improve, while the intention to buy homes and big-ticket appliances cooled further due to elevated mortgage rates. This shift in consumer preference from goods to services is likely to continue this year.

Mortgage 172

Mortgage 172

Inman

JULY 6, 2023

Existing-home sales are expected to tumble to a 12-year low by the end of 2023, but they won't stay that way for long, Realtor.com Chief Economist Danielle Hale predicted on Wednesday.

Agents 162

Agents Marketing 162

BiggerPockets

JULY 2, 2023

Artificial intelligence (AI) like ChatGPT might not be great at writing podcast intros, but when it comes to building a rental property or real estate portfolio, these platforms produce far […]

Real Estate 77

Real Estate Investing Marketing 77

Lamacchia Realty

JULY 7, 2023

Lamacchia Realty, Inc. has released its “Top Producing REALTORS®,” for June 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! June 2023 Winners of the Top 10 for the Company are: Kevin Cormier decided to obtain his real estate sales license several years ago to combine his knowledge of and deep roots in the local Massachusetts area, knowledge of housing markets from years of personally

Realtors 70

Realtors Realty Real Estate Agents 70

Clear Capital

JULY 27, 2023

Clear Capital and BeSmartee Partner to Bring Home Value Verification Solution to Mortgage Lenders Clear Capital’s ClearAVM is now integrated with BeSmartee’s Mortgage POS and HELOC product Reno, NV – July 27, 2023 – Clear Capital ® , a national real estate valuation technology company, announced today that it has entered into a strategic partnership with BeSmartee , a digital mortgage solution development company, to offer a cost effective and efficient solution for mortgage and home equity ori

Mortgage 69

Mortgage Home Value Valuation Real Estate 69

Eyes on Housing

JULY 10, 2023

Data obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, show that the rising trend of two or more stories homes continued in 2022. Although the overall share remained virtually unchanged, the share of two or more stories homes started construction was greater than one story homes in 2022. Nationwide, the share of new homes.

Construction 168

Construction 168

Inman

JULY 3, 2023

A new survey of 1,700 real estate agents this spring found that homebuyers in the Northeast and in Southern California were the most likely to get financial help from their family.

Real Estate Agent 156

Real Estate Agent Real Estate Buyers Agents 156

BiggerPockets

JULY 2, 2023

Have you ever wondered whether or not real estate is a good investment? Explore why real estate is a great investment and how it can help you achieve your financial goals.

Real Estate 78

Real Estate Investing Finance 78

Lamacchia Realty

JULY 31, 2023

Lamacchia Realty is thrilled to announce that well-known legacy real estate brokerage Right Choice Real Estate is now a part of Lamacchia Realty. Right Choice Real Estate was founded over 25 years ago by two very well-respected broker owners, Ron and Dawn Rusin. Right Choice Real Estate has been a dominating force in the Bristol County market for decades.

Realty 69

Realty Real Estate Realtors Marketing 69

Mortgagebroker News

JULY 26, 2023

The plan might help safeguard the stability of the financial system – but could also see mortgage costs rise, says observer

Mortgage 69

Mortgage 69

Housing Wire

JULY 2, 2023

Housing inventory finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data.

Housing Market 458

Housing Market Inventory Mortgage Marketing 458

Eyes on Housing

JULY 3, 2023

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 2.2% in May, as spending on single-family homes increased 1.7%. However, total private residential construction spending is still 11.6% lower compared to a year ago. The total construction monthly increase is largely attributed to more spending on single-family construction, It is consistent with the solid gains.

Construction 162

Construction 162

Inman

JULY 6, 2023

Janelle Brevard initially sued the National Association of Realtors, claiming her firing was a form of harassment and retaliation. The case ended Thursday, though many questions still remain.

Realtors 158

Realtors Brokerage Agents 158

BiggerPockets

JULY 7, 2023

100% financing for ALL of your real estate deals? Without thousands of dollars saved up, many people assume there’s no way for them to invest in real estate.

Real Estate 78

Real Estate Finance Investing 78

Mashvisor

JULY 24, 2023

Over the past few years, the Airbnb investment strategy has been a very lucrative way for investors to make money in real estate.

Investing 69

Investing Real Estate Investors Marketing 69

Mortgagebroker News

JULY 27, 2023

Surging immigration could lead to a significant widening of the gap between incoming demand and ongoing construction

Construction 69

Construction 69

Housing Wire

JULY 7, 2023

The 10-year yield and mortgage rates have been rising close to the 2023 high as some labor data shows that the honey badger labor market is still growing. To make things even more complicated, the spreads between the 30-year mortgage rate and the 10-year yield keep getting wider. The question is: will the labor data push mortgage rates to 8%? In my 2023 forecast , I wrote that if the economy stays firm, the 10-year yield range should be between 3.21% and 4.25% , equating to mortgage rates betwee

Mortgage 421

Mortgage Marketing Government Insurance 421

Eyes on Housing

JULY 25, 2023

Higher interest rates have led millions of existing homeowners with mortgages under 4% to postpone plans to list their homes for sale, and for many prospective buyers, that supply vacuum has left newly built homes as the only game in town. That is the backdrop behind the strengthening of interest for new homes.

Mortgage 148

Mortgage Buyers 148

Inman

JULY 7, 2023

Consumer confidence in the housing market "appears to have plateaued at a relatively low level," said Fannie Mae Chief Economist Doug Duncan in a new homeowner survey released on Friday.

Mortgage 158

Mortgage Housing Market Marketing Inventory 158

BiggerPockets

JULY 3, 2023

With 25% of median earners able to afford homes, what can you do to make up the difference? Here is some key personal finance tips to put you over the top.

Finance 76

Finance Real Estate 76

Housing Wire

JULY 7, 2023

Nationwide Property and Appraisal Services LLC (NPAS), led by Sri Velamati and one of the largest appraisal management companies in the U.S., announced that it has acquired Integrity Appraisal Management (Integrity), a regional AMC based in Houston, TX. The acquisition of Integrity will help NPAS strengthen its ability to expand market reach and enhance product and service offerings, the company said in a statement.

Appraisal 409

Appraisal Investing Marketing Valuation 409

Housing Wire

JULY 10, 2023

As the spring homebuying season comes to an end, there are distinct signs of the housing market reheating from a home price perspective. The lack of inventory drove home prices up, challenging potential buyers, Black Knight pointed out in its monthly mortgage monitor report. The reheating is widespread with more than half of the 50 largest U.S. markets seeing prices at or above 2022 peaks.

Mortgage 397

Mortgage Inventory Housing Market Sellers 397

Housing Wire

JULY 7, 2023

Consumer confidence in housing may have plateaued, according to the latest home purchase sentiment index (HPSI) by Fannie Mae. The HPSI — which tracks the housing market and consumer confidence to sell or buy a home — rose a mere 0.4 points to 66 as difficult supply and affordability conditions continue to weigh on the housing market, according to Fannie Mae.

Mortgage 397

Mortgage Housing Market Marketing 397

Housing Wire

JULY 5, 2023

There was a viral tweet going around from YouTube housing influencer Nick Gerli. You’ve probably seen it. Gerli cites data from a company called AllTheRooms to make the case that the Airbnb /short-term rental market is “crashing” and it will have a big impact on inventory. Indeed, the chart he shared is alarming. A nearly 50% drop in revenue in some markets!

Inventory 397

Inventory Housing Market Marketing Sellers 397

Housing Wire

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The 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 6.81% as of July 6, up significantly from last week ’s 6.71%. By contrast, the 30-year was at 5.30% a year ago at this time.

Mortgage 384

Mortgage Housing Market Real Estate Buyers 384

Housing Wire

JULY 6, 2023

The Consumer Financial Protection Bureau (CFPB) released its 2022 Fair Lending Annual Report to Congress last week, which illustrates how it took aim last year at redlining and appraisal discrimination in pursuit of its enforcement and supervision, guidance and rulemaking, interagency coordination, and outreach and education missions. The CFPB in 2022 focused heavily on redlining; potential discrimination in the underwriting process; whether lenders are “illegally steering applicants on a prohib

Mortgage 384

Mortgage Lending Appraisal Valuation 384

Housing Wire

JULY 31, 2023

Jaro is a full-service appraisal management software that supports lenders, appraisal management companies, appraisal firms and appraisers alike. It offers support for the simplest of workflows and the most complex, with ease. Jaro was initially developed by Ascent Software Group to streamline the entire appraisal workflow, eliminating the need for redundant steps and external systems.

Appraisal 370

Appraisal Appraisal Process Valuation Inspection 370

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. mortgage lender, has long described itself as a “one-stop mortgage shop.” Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Mortgage 370

Mortgage Lending Clients Investing 370

Housing Wire

JULY 31, 2023

Homeowners with a mortgage rate above 5% are nearly twice as likely to say that they plan to sell their home than those paying a rate below 5%, according to Zillow’s quarterly survey report. Additionally, the survey found that about 80% of mortgage holders reported having a rate of less than 5%, while 90% reported having a rate of less than 6%.

Mortgage 370

Mortgage Housing Market Marketing Buyers 370

Housing Wire

JULY 31, 2023

Rocket Companies announced major leadership changes on Monday. The company appointed Varun Krishna, a veteran in the financial technology world who held executive positions at Intuit and PayPal , as its new CEO. In addition, Bob Walters has informed the board of directors of his intention to retire from his role as CEO of Rocket Mortgage and president and Chief Operating Officer of Rocket Companies.

Mortgage 370

Mortgage Clients Technology Marketing 370

Housing Wire

JULY 31, 2023

Many U.S. banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. Banks expect to further tighten standards for the remainder of the year, according to the Fed’s quarterly senior loan officer opinion survey (SLOOS) released on Monday.

Lending 370

Lending Mortgage Loan Officers Real Estate 370

Housing Wire

JULY 31, 2023

The Credit Union National Association (CUNA) late last week released two comment letters expressing the association’s agreement with proposed rules on bolstering borrower protections for Property Assessed Clean Energy ( PACE ) financing for home renovations. A CUNA letter was aimed at expressing its support to financial services companies, with an additional letter adding its individual comments to the Bureau’s rule proposal.

Property Taxes 370

Property Taxes Mortgage Renovations Real Estate 370

Housing Wire

JULY 31, 2023

Today’s RealTrending features Rich Hopen , broker-associate of Compass and co-founder of REAL-E in New Jersey and Susan Vanech , broker-associate of Compass and founder of Compass Coasta l in Connecticut. Hopen is a self-taught expert in all things ChatGPT and artificial intelligence and built an AI-powered listing chatbot. Vaneck used that chatbot to market a multi-million dollar property.

Real Estate 370

Real Estate Agents Brokerage Technology 370