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Average mortgage rates on 30-year fixed home loans continued their march towards 8% this week as the Treasury yield surpassed 5%. Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since Spring 2022, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average 30-year, fixed-rate mortgage rose to 7.79% as of Oct. 26.
You will either love it or hate it. This owner transformed a tract home built in 2002 into something with serious Midtown modern vibes. When I saw this house, I knew I wanted to write about it, and I think there are some great conversation nuggets. How do we value something when it has really […] The post Making a modern home from a tract home first appeared on Sacramento Appraisal Blog.
The servicing segment drove most of Pennymac Financial Services ’s earnings in the third quarter of 2023, just like its peers, Mr. Cooper and Rithm Capital. Profits at the California-based lender increased by 60% from July to September, compared to the prior quarter, with originations also boosting performance. Pennymac announced on Thursday a $92.87 million net income in Q3 2023, up from $58.2 million in the previous quarter but down from $135 million in Q3 2022, per Securities and Exch
The defense in Sitzer/Burnett called on three experts to discuss the consequences of decoupling commissions, with one facing aggressive cross-examination.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
KANSAS CITY, Missouri — The ninth day of the Sitzer/Burnett commission lawsuit started off with some overnight news from the court. After filing a motion for a mistrial Wednesday morning, citing several grievances including “vulgar” footage from a Tom Ferry podcast featuring Allan Dalton and references to the Department of Justice’s investigation of the National Association of Realtors (NAR), defendant HomeServices of America learned it didn’t get its way.
After big declines in August, sales recovered slightly, but “pending contracts remain at historically low levels,” NAR Chief Economist Lawrence Yun noted.
After big declines in August, sales recovered slightly, but “pending contracts remain at historically low levels,” NAR Chief Economist Lawrence Yun noted.
Jason Christie New York City luxury agent Jason Christie has returned to Compass after two years at Serhant , the company announced on Thursday. Christie specializes in luxury real estate in Manhattan and the Bronx. He is also the founder of “Agents of Color,” a national referral network for BIPOC real estate professionals. Christie said he returned to the brokerage because of its technology, agent network and culture.
HousingWire Editor in Chief Sarah Wheeler sat down with Nicolas Guillen, co-founder of BaseCap Analytics , to talk about data, AI and the problems we still need to solve. Sarah Wheeler: Your background includes experiences in banking and capital markets, including working at Morgan Stanley as a credit risk manager. How do you leverage those experiences at BaseCap?
The iBuyer will send potential sellers leads to the brokerage company, while Anywhere agents can present their sellers with a cash offer from Offerpad.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Pending home sales ticked up 1.1% in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). NAR’s Pending Home Sales Index rose to a reading of 72.6 in September. Pending homes sales mirrored the trend in new home sales , which posted a 12.3% increase in September.
New York-based Rithm Capital’s profits declined in the third quarter of 2023, when the real estate investment trust got involved in a dispute for Sculptor Capital Management and announced the acquisition of Specialized Loan Servicing. The deals are part of the firm’s plan to become a leading global asset manager, executives said. Rithm announced Thursday that it delivered a $194 million GAAP net income in the third quarter of 2023 — lower than the $357.4 million the prior quarter , p
RESAAS’s data provisioning and market insight tools address a wide array of needs in multiple real estate business centers. It's known especially for its MLS and brokerage communication modules.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Real estate conglomerate Anywhere is teaming up with Offerpad to expand the iBuyer ‘s services nationwide, according to an announcement on Thursday. Offerpad operates in 14 states. The partnership extends Offerpad’s reach by allowing seller requests from areas outside of Offerpad’s current markets to be served by certified agents affiliated with the Anywhere Leads Network , a nationwide network of 500 brokers and more than 100,000 real estate agents.
Wednesday afternoon’s proceedings at the Sitzer/Burnett commission lawsuit trial continued with more testimony from HomeServices of America executives. After appearing in a video deposition on Monday as part of the plaintiff’s testimony, Rosalie Warner, a corporate representative for HomeServices of America and its affiliates, was in the Kansas City courtroom in person on Wednesday.
The longtime film and TV set decorator turned to staging for NYC-based real estate firm Archpoint Advisory on the cusp of the WGA and SAG-AFTRA strikes, and is enjoying the opportunity.
In a groundbreaking development for the real estate and mortgage industries, HousingWire has announced the successful merger of HousingWire Annual and RealTrends’ Gathering of Eagles. The merger, which has been in the works for several months, brings together two powerhouse events that have been at the forefront of industry thought leadership. By joining forces, The Full Picture begins to emerge, creating business and knowledge opportunities for mortgage, real estate, title, and appraisal leader
Thursday was a big day for title firm earnings, with three of the Big Four title insurers reporting their third-quarter 2023 earnings. The day began with Stewart’s Q3 2023 earnings call with investors and analysts. During the quarter, the smallest of the Big Four recorded a total revenue of $601.7 million, down from $716.4 million a year ago. Stewart’s net income also fell year over year dropping from $29.4 million in Q3 2022 to $14.0 million in Q3 2023.
If you've been struggling with motivation, mindset and the strains of the current market, author and trainer Bernice Ross offers two dozen proven techniques to get you back on track.
The U.S. economy had remarkable growth in the third quarter of 2023, fueled by consumer spending. The GDP price index rose 3.5% for the third quarter, up from a 1.7% increase in the second quarter. The Personal Consumption Expenditures (PCE) Price Index, capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior, rose.
Housing’s share of the economy remained at 15.9% at the end of the third quarter of 2023. Overall GDP increased at a 4.9% annual rate, following a 2.1% increase in the second quarter of 2023 and 2.2% increase in the first quarter of 2023. Housing’s share of GDP remained at 15.9% for the third consecutive quarter in 2023. In the.
Sometimes, properties may not have a clear title or line of ownership. If a property has any issues with its title, an owner may choose to provide a quitclaim deed. These deeds are also referred to as quick claim deeds because the transfer of property can happen much faster using this type of deed. This guide will explain everything you need to know about the quitclaim deed.
Leverage is a valuable tool that uses other people’s money to buy property. This strategy allows you to find more lucrative investment opportunities while protecting your liquid assets. It gives you endless possibilities to purchase real estate with little or no money down.
ROI in real estate measures the profitability of an investment property. It's the ratio of net profit to the initial investment. In simple terms, a higher ROI indicates a more lucrative investment, while a lower one suggests lower returns.
In real estate, refinancing is the process of replacing an existing mortgage with a brand-new one with more favorable terms. By refinancing, borrowers can decrease monthly mortgage payments, negotiate lower interest rates, renegotiate the term, remove other borrowers from the loan agreement, and/or access cash through home equity that has been built over time.
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