Sat.Aug 07, 2021 - Fri.Aug 13, 2021

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Mortgage rates rise to 2.87% after jobs report

Housing Wire

The average 30-year fixed-rate mortgage rose to 2.87% for the week ending in August 12, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The increase follows six consecutive weeks of mortgage rate declines. The week prior, mortgage rates slipped down to 2.77%, as the 10-year Treasury yields declined and fears over the Covid-19 Delta variant grew.

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10 ways the housing market is slowing

Sacramento Appraisal Blog

The housing market has turned the corner and we are seeing definitive slowing. Here are ten ways I’m seeing slowing in the market. If you’re not local, what are you seeing in your area? NOT DULL: The market is slowing, but it’s not dull. It is still really competitive. DOOM AND GLOOM: The doom and […].

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Appraisers: Pay Attention to Policy

Appraisal Buzz

Local, State, and Federal policy can play a significant role in an appraiser’s business – it is important to stay informed about what is happening around us. Most appraisers have been busier than ever over the past year and may be struggling to keep up with deadlines. It may benefit you and your business to stay updated on policy as it relates to the appraisal profession.

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Appealing Property Taxes with a Real Estate Appraisals

The Appraiser Coach

Sometimes your home is assessed at more than it is actually worth on the current market which could result in you paying higher property taxes than you should. Getting a. Read More.

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Soaring home prices are spooking buyers

Housing Wire

Home purchase sentiment dropped 3.9 points to 75.8 in July as concerns about high home prices continued to scare off prospective homebuyers. Fannie Mae ‘s Home Purchase Sentiment Index (HPSI) found that 66% of respondents said that due to high housing prices, it’s a bad time to buy a home, up from 64% last month. Only 28% said it was good time to buy a home, down from 32% in June.

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Is Appraisal Scientific?

George Dell

“Appraisal is not an exact science” are words I used to hear a lot. This understandable view leaves much to be explained. In the USA, appraisal is an opinion of value by an appraiser. (Licensed, and when required, for “federally related transactions”.) All other types of valuations have different or no regulations. However, they are […]. The post Is Appraisal Scientific?

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Become the “Go To” Appraiser in Your Area

The Appraiser Coach

Near my office there are two convenience stores but I only ever go to one of them. Really, there isn’t anything terrible about the one I don’t go to, but. Read More.

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Opendoor ramps up but loses $144M

Housing Wire

“We think it’s mainstream,” Opendoor CEO Eric Wu said of his company’s instant homebuying platform. “All the homeowners crave what we’re offering.”. “Over the long haul,” Wu added, regarding iBuying. “We think it will be the majority of transactions.”. That could be the future, but in the present iBuying is about.5% of U.S. home sales , per a Redfin report in June.

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Building Materials Prices Climbing at Record YTD Pace Despite Lumber Declines

Eyes on Housing

Prices paid for goods used in residential construction ex-energy rose 0.2% in July after climbing 3.0% in June (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019 and have increased 19.4% over the.

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Planet Home Lending Promotes Manfer to Head Up Business Development

Appraisal Buzz

With eight years of experience at Planet Home, Samantha Manfer will lead the marketing and branding efforts for the firm’s six business channels. The post Planet Home Lending Promotes Manfer to Head Up Business Development appeared first on theMReport.com. The post Planet Home Lending Promotes Manfer to Head Up Business Development appeared first on Appraisal Buzz.

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[New] Template Editor Update: Create a Form From Scratch In Our List View Form Builder

GoForrmz

Building form Templates just got even easier – check out our new Template Editor improvements and learn to create forms from scratch! We have just released an update to our Template Editor allowing form builders two powerful options when creating a digital form Template: Digitize your form in Form View Upload a PDF or JPG of an existing form to the Template Editor Create an entirely new form in List View (an ‘app-like’ index of form fields) Build your own form from scratch – no existing form req

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The Post-COVID shift: What Amazon and Zillow can’t do

Housing Wire

In just a few months’ time, COVID-19 accelerated the digital shift era to forever change the way consumers approach home buying. This tipping point came after several years of rapid technology growth in our industry. In February 2019, we wrote an article predicting this seismic shift, detailing how mortgage lenders could and should prepare to not only survive the shift but thrive in the future digital age.

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Non-Revolving Debt Spikes in Second Quarter

Eyes on Housing

In the second quarter of 2021, non-real estate-secured consumer credit increased at a seasonally adjusted annual rate by 8.8%, with revolving debt1 increasing by 10.7% and nonrevolving debt2 increasing by 8.3%. Consumer credit totaled $4.3 trillion on a seasonally adjusted annual basis, with $992 billion comprised of revolving debt and $3.3 trillion in nonrevolving debt.

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District Court Upholds CDC Eviction Moratorium

Appraisal Buzz

But some real estate professionals say the ban is causing financial harm to small-scale landlords and causing “uncertainty for tenants and housing providers.” The post District Court Upholds CDC Eviction Moratorium appeared first on DSNews. The post District Court Upholds CDC Eviction Moratorium appeared first on Appraisal Buzz.

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ProTip: Use Online Forms to Collect School Activity Registrations

GoForrmz

Make back-to-school less stressful by efficiently collecting school activity registration forms with GoFormz online forms Relying on physical documents to organize student information introduces opportunities for incomplete student data and missing forms, putting you and your school at risk. Online forms make it easy to optimize and accelerate your school activity registration while maintaining existing formatting, allowing your operation to effortlessly digitize and modernize its documentation

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Refinances make a comeback in July

Housing Wire

Refinances are flowing once again, according to July mortgage origination figures in a report from Black Knight, and early data from August suggests more are on the way. For the first time since February , refinance activity accounted for half of all origination activity, according to a report by Black Knight. Rate and term refinances rose 24%, while cash-out refinances were up 20% from the previous month.

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Rising Job Openings

Eyes on Housing

In the June labor market data, job openings for the overall economy increased to 10.1 million open positions. What had been a challenge in certain sectors, like construction, is now a broad labor access issue as businesses seek workers as the economy reopens. The count of open construction jobs increased in June to 339,000 unfilled positions, according to data from.

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Employee Engagement in Our Ongoing Virtual Workplaces

Appraisal Buzz

National General Lender Services (NatGen) discusses how it kept operations running smoothly over the past year while adapting to the new work from home environment. The post Employee Engagement in Our Ongoing Virtual Workplaces appeared first on DSNews. The post Employee Engagement in Our Ongoing Virtual Workplaces appeared first on Appraisal Buzz.

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Objective Terminology

Appraiserblogs

Appraisers should avoid using words that lend themselves to bias judgments. Instead, the appraisal report should document objective facts. “Bias” in appraisals has been a ‘hot topic’ around nationwide water coolers since about 2018, and even earlier. The GSE’s are particularly wary of any commentary in appraisal reports that appear to inject ‘bias’ into the value conclusion.

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Forbearance numbers fall, delinquency rates rise

Housing Wire

Once again, servicers’ forbearance portfolio volume fell — this time dipping seven basis points to 3.40% for the week ending Aug. 1, according to a survey from the Mortgage Bankers Association. Per MBA’s estimate, 1.7 million homeowners are still in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance also decreased, falling five basis points to 1.74%, and Ginnie Mae loans decreased 12 basis points to 4.18%.

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Top Benefits of Digitizing Your Daily Job Reports

GoForrmz

Digital daily job reports present teams with countless opportunities to streamline their workflows and enhance critical daily processes Daily job reporting can be a tedious and daunting task when relying on paper forms. Oftentimes, field teams would rather not complete daily reports, or in most cases, they simply get lost, resulting in missing data, communication barriers, and frustrations amongst collaborating teams.

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Agencies Join to Advance Unbiased Lending

Appraisal Buzz

A groundbreaking partnership between two government agencies—U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA)— will address discrimination in housing and enhance federal enforcement of the Fair Housing Act. HUD, historically charged with administering and enforcing the act, together with the FHFA, which regulates Fannie Mae and Freddie Mac, … The post Agencies Join to Advance Unbiased Lending appeared first on theMReport.com.

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TAF Is About To Get PAVEd

Appraiserblogs

The current administration is addressing the lack of diversity in housing valuation head-on with the formation of an interagency task force on Property Appraisal and Valuation Equity (PAVE). Here are the details of the PAVE Task Force. They just had their first meeting and this is a serious effort unlike the silliness of TAF’s bureaucratic actions of the past year that were nothing more than window dressing to the lack of diversity problem within the appraisal industry.

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Rocket announces discount real estate brokerage

Housing Wire

Rocket Homes has plans to start iBuying – and discount real estate. The Detroit-based company – and no. 1 mortgage lender in the U.S. by volume – fired off a 1,490-word press release Tuesday declaring its intention to “combine every aspect of home selling and buying into one simple, customizable platform.”. Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass.

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5 Features to Add to Your Digital Purchasing Forms

GoForrmz

Digital purchasing forms expedite the purchasing process and enhance data collection Elevate your digital purchasing experience and by adding these GoFormz features for your mobile form Templates. Adding new features is easy and introduces new efficiencies and opportunities for your team. Below we’ve outlined a few easy-to-use features you can incorporate into your digital purchasing forms today: Drop Downs and Database Fields GoFormz Database Fields makes data entry painless while improving acc

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Mortgage Rates Trend Upward After Six-Week Decline

Appraisal Buzz

Rates remained below 3% but leapt this week following a strong U.S. jobs report and strong growth in the economic sector. The post Mortgage Rates Trend Upward After Six-Week Decline appeared first on theMReport.com. The post Mortgage Rates Trend Upward After Six-Week Decline appeared first on Appraisal Buzz.

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CPI Growth Slows in July

Eyes on Housing

Headline inflation and core inflation slowed in July after hitting a 13-year high in June. As the economy reopens, supply-chain disruptions and rebounding demand for certain services and products, such as travel-related services, pushed up consumer prices. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.

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Divvy Homes hits $2 billion valuation after latest funding round

Housing Wire

Divvy Homes , the prop-tech startup that buys homes on behalf of renters and guides them to eventual ownership, announced Friday a new round of funding that nearly quadrupled its valuation to $2 billion. Co-led by Tiger Global Management and Caffeinated Capital , Divvy’s latest round raised $200 million in equity, Divvy CEO Adena Hefets told Bloomberg.

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Fannie Mae’s Decision to Incorporate Rental Payments into the Mortgage Origination Process Will Expand Access to Homeownership Over Time

Urban

Data show housing payment history is a powerful predictor of mortgage performance.

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Commercial Mortgage Lending on Track to Increase in 2021

Appraisal Buzz

Commercial and multifamily mortgage bankers are expected to close $578 billion of loans backed by income-producing properties in 2021 – a 31% increase from 2020’s volume of $442 billion, according to the Mortgage Bankers Association ’s (MBA) newest forecast. Total multifamily lending alone, which includes some loans made by small and midsize banks not captured in the overall total, is forecast to rise to $409 billion in 2021 – a new record and a 13%.

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5 Tips to Prepare for a Luxury Home Inspection

McKissock

Appraising a luxury home can be stressful, so preparation is important before commencing with a luxury home inspection. In this post, we provide valuable tips for preparing to inspect a luxury home, including some key questions to ask of the homeowner, agent, or builder about upgrades and amenities. 1. Research the subject property. Carefully research the subject property prior to the appraisal inspection , keeping the following in mind: Online mapping (aerial, satellite, GIS) can help with a pr

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Boise home prices rising faster than any other US city

Housing Wire

Boise, Idaho. No city in America saw larger home price gains in the first half of 2021 than — yes, you guessed it — Boise, Idaho. According to a study from HouseCanary — which looked at the top 25 metros in the country with the highest median price increase over the last six months — Boise’s home prices increased 13% from December 2020 ($410,000) to June 2021 ($463,383), the highest in the country.

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A Guide to Understand Residential Appraisal

Appraisal Hub

Most people approach an appraisal company in Toronto when preparing to buy or sell a home. Does this sound like you? Understanding the appraisal process is important if you want to get the most from it. Here’s a short guide on the basics you need to know about residential appraisal services and working with an appraiser. Why is an appraisal important?

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Refinance Applications Bounce back to Winter Levels; Rates Catch a Break

Appraisal Buzz

The Mortgage Bankers Association’s (MBA) said its Market Composite Index, a measure of mortgage loan application volume, rose 2.8 percent on a seasonally adjusted basis during the week ended August 8. It was up 3 percent on an unadjusted basis. The volume of both refinance and purchase mortgage applications gained ground from the prior week. The Refinance Index increased 3 percent although it was 8 percent lower than the same week in 2020.

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