Sat.Jan 07, 2023 - Fri.Jan 13, 2023

article thumbnail

Mortgage rates have peaked along with inflation

Housing Wire

Today’s inflation data has shown that the peak growth rate of inflation is behind us. This should also mean mortgage rates hit their highs. The key phrase I have stressed since I wrote about the case for mortgage rates to go lower on Oct. 27 is thinking 12 months out.

Mortgage 531
article thumbnail

Are You Saying No to Future Business?

The Appraiser Coach

I’ve begun to notice that retirement is starting to creep up on me a little bit, and I’m starting to wonder if I’m really ready. I recently decided to get. Read More.

Business 366
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

All the Tips You Need to Make Moving to a New State Much Easier

Cleveland Appraisal Blog

Are you planning on moving to a new state? There’s so much to think about. Employment, the cost of the move, buying a home, and many other things. This week, I welcome a new guest blogger, Ryan Mackenzie, who shares tips for making a move more manageable. I hope you enjoy it!

Appraisal 284
article thumbnail

Torturing housing stats to say what you want

Sacramento Appraisal Blog

If you torture the stats long enough, they’ll confess to anything. Have you heard that before? Well, it’s true in real estate. If we’re not careful, we can make numbers say anything, whether for a glowing or doom narrative.

article thumbnail

Build-for-rent is a bet on the ‘new normal’ housing market

Housing Wire

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR.

article thumbnail

Errors Mistakes and Modeling Myths? Pt I

George Dell

Errors and mistakes can be “statistical.” They can be modeling Blunders. Or they can be of a third type: misjudging what the data is showing you.

195
195

More Trending

article thumbnail

Appraisal profession mourning death of a good friend

Valuation Review

#BillKing #chiefvaluationofficer #BradfordTechnologies #suddenpassing #tribute

article thumbnail

Mortgage demand picks up as seller concessions rise

Housing Wire

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. .

Sellers 529
article thumbnail

How luxury real estate is developing in the metaverse

Inman

The metaverse is quickly becoming a platform, or a collection of several platforms, where you can advertise, socialize, build, and explore. It’s no wonder we’ve started to imagine how to bring real estate to this realm.

article thumbnail

How Many Households Are Priced Out By Higher Mortgage Rates in 2022?

Eyes on Housing

Mortgage rates have increased rapidly in 2022, as the Federal Reserve continues to fight high inflation. The U.S. weekly 30-year fixed-rate mortgage rose from a slightly more than 3% in early 2022 to more than 7% in late October and leveled off at a rate of 6.42% as of the end of 2022.

Mortgage 185
article thumbnail

NAR: Stable home prices forecast for 2023

Valuation Review

#NationalAssociationofRealtors #forecasts #stablehomeprices #RealEstateForecastSummit

article thumbnail

Optimism spreads across the mortgage industry at the start of 2023

Housing Wire

Mortgage industry watchers have started 2023 with optimism regarding the possibility of mortgage rates returning to the 5% range this year – but not without a dose of volatility on the way.

Mortgage 500
article thumbnail

On a budget? 10 lead sources with no upfront costs

Inman

If you’re looking for a way to keep your upfront costs down but still have a steady flow of leads coming into your business, Jimmy Burgess recommends these companies.

Business 172
article thumbnail

U.S. Population Growth Rate Rebounds in 2022

Eyes on Housing

According to the U.S. Census Bureau’s latest estimates, the U.S. resident population grew by 1,256,003 to a total population of 333,287,557. After a historically low growth rate of 0.16% between 2020 and 2021, the U.S. population grew at a rate of 0.38% between 2021 and 2022.

169
169
article thumbnail

Why Are Fannie, Freddie Peddling Exotic Junk-Rated Risk Swaps?

Appraiserblogs

Meanwhile, cratering home prices are eroding demand for the junk-rated credit transfers. As mortgage giants Fannie and Freddie bend the knee to their political overlords, they securitize ever riskier loans. It’s a sign of the times.

article thumbnail

Wells Fargo closes correspondent biz, will shrink servicing portfolio

Housing Wire

Wells Fargo , the largest depository mortgage lender in America, announced Tuesday that it will officially exit the correspondent channel and also reduce its servicing portfolio, the country’s largest. . The move isn’t much of a surprise.

Lending 501
article thumbnail

Keller Williams to pay $40M to settle cold call class action lawsuit

Inman

As part of the deal, the real estate franchisor also agreed to create a task force to 'enhance compliance' with the Telephone Consumer Protection Act.

article thumbnail

Good News: Inflation Continues its Cooling Trend

Eyes on Housing

Consumer prices in December saw the largest month-over-month decrease since April 2020. While still elevated, inflation experienced the third month below an 8% annual growth rate since February 2022. Moreover, this was the sixth consecutive month of a deceleration.

160
160
article thumbnail

It’s Theft of Services!

Appraiserblogs

It’s theft of services to constantly think it’s okay to drain appraisers time and resources as if we’re advocates of the AMC; all our time and energy constantly available to AMCs so they can shop us to infinity on a per diem assignment pattern forever to increase their own profits.

Finance 111
article thumbnail

Housing inventory up nearly 55% in December

Housing Wire

The housing inventory shortage dominated much of the conversation surrounding the housing market in 2022, but thanks to softening homebuyer demand, the number of active listings finished the year up 54.7% compared to the year prior, according to Realtor.com’s December Housing Report.

Inventory 493
article thumbnail

Number of Realtors hits new record high for 4th-straight year

Inman

National Association of Realtors' membership edged ever closer to 1.6 million in 2022, but the real estate trade group expects a drop this year, according to data provided to Inman. MLS & Associations Select NAR nar membership national association of realtors realtor membership Realtors

Realtors 166
article thumbnail

Residential Building Worker Wage Growth Slowed

Eyes on Housing

Average hourly earnings for residential building workers* rose at a slower pace in November. After reaching the highest rate (8%) of 2021 in October, the pace of wage growth has retreated and remained below 4% for the past five consecutive months.

article thumbnail

4 Resources to Help Clients Understand the Appraisal Process

McKissock

Many people do not understand the appraiser’s role in the homebuying and lending process, nor what a home appraisal entails. Common myths about appraisals, as well as a general lack of knowledge, could lead to friction between you and your appraisal clients.

article thumbnail

Housing Market Tracker: A notable drop in inventory

Housing Wire

The housing market saw inventory fall 4% last week from the week before. That’s a big one-week change. Does that mean we are heading back to all-time lows in inventory again for 2023?

Inventory 485
article thumbnail

Inman launches immersive new video platform, Inman Access, for real estate professionals

Inman

The game-changing new offering launches today with hundreds of hours of original video content as well as content from Inman's vast video library. Subscribers get it all — anytime, anywhere.

article thumbnail

Revolving Debt Climbs as Credit Card Interest Rates Set New Records

Eyes on Housing

The balance of consumer credit outstanding grew 7.1% in November 2022 (seasonal adjusted annual rate) after climbing 7.4% (SAAR) in October according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving debt—which consists primarily of credit card debt—increased at a 16.9%

article thumbnail

8 Ways to Protect Against Appraiser Identity Theft

McKissock

Protecting yourself against appraiser identity theft is very different from protecting your credit against identity fraud.

article thumbnail

Home seller concessions reach pre-pandemic levels

Housing Wire

A new Redfin report found a record 41.9% of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. This represents the highest increase of any three-month period since July 2020 when Redfin started tracking this data.

Sellers 467
article thumbnail

Billionaire fashion mogul Tom Ford buys $51M mansion in Palm Beach

Inman

The founder and CEO of Tom Ford International bought the property after agreeing to sell his fashion label to Estée Lauder back in November, according to new reports. Listings Luxury Lens News Brief Estée Lauder luxury luxury lens Palm Beach Tom Ford

163
163
article thumbnail

Mortgage Activity Remains at Low Levels

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending January 6th, total mortgage activity increased 1.2% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell sixteen basis points to 6.42%. The FRM rate has remained near 6.4% over the past month.

Mortgage 102
article thumbnail

FAQ #2:  What’s the Difference Between Appraised Value and Market Value?

Riverfront Appraisals

If you’ve been following me for any length of time, you know I’ve talked a lot about market value. And, the reason for this is that there is so much confusion around this term. Way too many people still think that market value is simply what a buyer is willing to pay for a property. […].

article thumbnail

Rocket rolls out new initiative with $0 credit report fees for brokers

Housing Wire

Rocket Pro TPO , a wholesale arm of Rocket Mortgage , will be providing credit reports at no cost for brokers when closing loans through the Detroit lender. The strategy is expected to court more brokers in an industry facing higher credit report fees.

Retail 468
article thumbnail

Ramping up referral business is more important than ever in 2023

Inman

Economic uncertainty is putting pressure on real estate agents' databases. Hot leads have simmered, and suddenly business is harder to come by. That's why referrals are more valuable than ever.

Business 162
article thumbnail

2023 Real Estate Forecast: Market to Regain Normalcy

Empire Appraisal Group

2023 Real Estate Forecast: Market to Regain Normalcy. Source: 2023 Real Estate Forecast: Market to Regain Normalcy (nar.realtor). But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict.