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Builder sentiment posts its first decline since November

Housing Wire

Additionally, the NAHB reported that all three major HMI indices posted declines in May. The three-month moving averages for the HMI fell in all regions except for the Midwest, which posted a three-point increase to 49. But the average price reduction in May held steady at 6% for the 11th straight month.

Buyers 331
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Pennymac posts first-quarter profit of $39M

Housing Wire

million figure it posted during the same period last year but a significant improvement from the pretax loss of $54.2 million profit it posted in 2022. Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. billion in 2023.

Lending 369
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Home prices post largest gain in more than a year: S&P 

Housing Wire

National Home Price Index posted a 6.4% The 20-city composite posted a year-over-year gain of 7.3%, up from 6.6% The 20-city composite posted a year-over-year gain of 7.3%, up from 6.6% Markets in the Midwest and Northeast regions posted some of the fastest-growing home prices, while Southern markets saw slower price growth.

Inventory 403
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Pending home sales post a modest gain in March:  NAR

Housing Wire

The Northeast, South and West regions posted monthly gains in transactions while the Midwest recorded a loss. Year over year, the Northeast and the South registered decreases but the Midwest and the West posted gains. NAR’s Pending Home Sales Index increased to 78.2 in March, up from 75.6

Inventory 377
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U.S. mortgage holders post record levels of home equity: ICE

Housing Wire

home prices continued to climb in March as a persistent shortage of homes for sale helped to buoy the housing market, according to the Intercontinental Exchange (ICE) Home Price Index.

Mortgage 449
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eXp posts $15.6M loss in Q1 2024 

Housing Wire

While revenue rose at eXp World Holdings during the first quarter of 2024, the firm was still unable to turn a profit due to the challenging housing market. In Q1 2024, the company reported a $15.6 million loss compared to a net gain of $1.5 million in Q1 2023.

Realty 318
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MBA president sees opportunities for dual licensing in post-settlement landscape

Housing Wire

A recent CFPB blog post stated that families closing a mortgage “often get an unwelcome surprise: closing costs that all too often are full of junk fees.” According to Broeksmit, the CFPB can only review fees by reopening the TILA-RESPA Integrated Disclosure (TRID) rules, which the industry spent $1 billion to implement.