Housing Wire

SEPTEMBER 10, 2024

In a traditional sense, the term “silver tsunami” refers to pent-up housing stock that older homeowners will eventually choose to sell, which would have the effect of flooding the market with new inventory. But if prior suppositions about this trend being overblown failed to convince people, new data might make things clearer. More than half (54%) of baby boomers have no intention of ever selling their homes, according to new survey data from Clever Real Estate.

Property Taxes 482

Property Taxes Inventory Real Estate Mortgage 482

Appraisal Buzz

SEPTEMBER 10, 2024

Freddie Mac CEO Diana Reid The Board of Directors of Freddie Mac has announced the selection of real estate and financial services industry veteran Diana Reid to serve as the company’s new CEO, effective immediately. Reid will also serve as a member of Freddie Mac’s Board of Directors. President and Interim CEO Michael Hutchins will continue as the company’s President.

Real Estate 418

Real Estate Finance Business Investing 418

Housing Wire

SEPTEMBER 10, 2024

In a little more than a week, Federal Reserve policymakers are poised to lower benchmark interest rates for the first time since the start of the COVID-19 pandemic. Ahead of that decision, mortgage rates continued to decline, although a surge of borrowers has yet to appear. At HousingWire ‘s Mortgage Rates Center on Tuesday, the average 30-year conforming loan rate was 6.47%, down 13 basis points (bps) from one week ago.

Mortgage 468

Mortgage Inventory Marketing Housing Market 468

Appraisal Buzz

SEPTEMBER 10, 2024

Young adults today are living with their parents at a rate unseen since 1940, according to a study from Apartment List , whose research team collects and analyzes U.S. rental market data. Necessity, rather than choice, has placed many families in this position, economists say. “Fewer than one-in-five [young adults living at home] are earning incomes that would allow them to comfortably afford local rent prices, a far lower share than in the past.

Marketing 417

Marketing Appraisal 417

Housing Wire

SEPTEMBER 10, 2024

Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. Rocket aims to double its current market share in purchase mortgages from 4% to 8% and expand its refinance share from 12% to 20%, executives said during the company’s first Investor Day event on Tuesday.

Mortgage 459

Mortgage Marketing Technology Clients 459

Appraisal Buzz

SEPTEMBER 10, 2024

With mortgage rates on the decline and housing supply ramping up, affordability is on the rise for many, Realtor.com’s latest market analysis found that much anticipated market relief is on the way, and many potential buyers are stepping off the sidelines. Realtor.com’s Sixth Annual “ Best Time to Buy Report ” examined listing prices, inventory levels, new “fresh” listings, time on market, homebuyer demand, and price reductions, revealing that the “Best Time to Buy” in 2024 will be the week of S

Inventory 397

Inventory Buyers New Listings Marketing 397

Appraisal Buzz

SEPTEMBER 10, 2024

Rocket Pro Third Party Origination General Manager Dan Sogorka Rocket Companies has named Dan Sogorka as General Manager of Rocket Pro Third Party Origination (TPO), the mortgage broker business of Rocket Mortgage. In this newly created role, Sogorka will be responsible for establishing the end-to-end vision and growth of Rocket’s broker business. Sogorka will ensure the lender’s products and processes align best with the needs of the mortgage broker community and plans to leverage Rocket Mortga

Technology 397

Technology Clients Tools Loan Officers 397

Housing Wire

SEPTEMBER 10, 2024

Redfin is facing an updated and amended complaint in the video privacy lawsuit recently filed against it by plaintiff Guillermo Mata. The suit was originally filed in late June in the U.S. District Court for the Southern District of California. The suit accuses Redfin of violating the Video Privacy Protection Act and the California Invasion of Privacy Act by allegedly sending consumers’ personally identifiable data — including names and email addresses — to third-party firms such as Facebook p

Law 458

Law Technology Tools Agents 458

Appraisal Buzz

SEPTEMBER 10, 2024

In August, the median asking rent in the U.S. increased by 0.9% year-over-year to $1,645—the largest yearly increase since April 2023. This is according to a recent Redfin report, which showed a 0.1% increase in rent month-over-month. While the cost of two-bedroom apartments stayed the same at $1,725, the cost of one-bedroom apartments saw a 0.1% annual increase to $1,495.

Construction 383

Construction Tenants Appraisal Marketing 383

Housing Wire

SEPTEMBER 10, 2024

The U.S. Department of Housing and Urban Development (HUD) this week established Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs) for the Low-Income Housing Tax Credit program in 2025. These parameters are set by HUD for specific locations within each state and can impact the amount of tax credits for projects to make funding more feasible.

Design 457

Design Development Construction Finance 457

Appraisal Buzz

SEPTEMBER 10, 2024

As the fall home shopping season remains underway, he most recent Commercial Delinquency Report from the Mortgage Bankers Association (MBA) indicates that there was an increase in commercial mortgage delinquencies during the second quarter of 2024. The commercial delinquency rates of five of the major investor groups—commercial banks and thrifts, life insurance companies, commercial mortgage-backed securities (CMBS), and Fannie Mae and Freddie Mac—are examined in the MBA’s quarterly analysis.

Mortgage 334

Mortgage Investors Real Estate Insurance 334

Housing Wire

SEPTEMBER 10, 2024

HousingWire asked past Tech Trendsetter honorees about the biggest tech transformations they’ve witnessed and where companies in mortgage and real estate should focus their energy in 2024. Their unanimous answer: artificial intelligence (AI) is revolutionizing how the industry works, from boosting productivity to streamlining operations. Dive into their insights on how AI is reshaping the future of mortgage and real estate.

Real Estate 448

Real Estate Mortgage Tools Technology 448

Real Estate News

SEPTEMBER 10, 2024

According to a recent WAV Group poll of real estate professionals, only 28% want to keep the policy as-is, with many citing concerns over litigation.

Real Estate 298

Real Estate 298

Housing Wire

SEPTEMBER 10, 2024

After several months of searching, Freddie Mac has found a new CEO, announcing on Tuesday the hiring of former PNC Financial Services executive Diana Reid. The government-sponsored enterprise (GSE) had been without a permanent CEO since March, when Michael DeVito retired after three years on the job. Michael Hutchins took over the role on an interim basis at that time and will remain with Freddie Mac as its president.

Real Estate 448

Real Estate Finance Insurance Government 448

Real Estate News

SEPTEMBER 10, 2024

A recent poll shows a split between major industry players when it comes to the National Association of Realtors’ performance — and its settlement.

Realtors 279

Realtors 279

Housing Wire

SEPTEMBER 10, 2024

Michael Barr, the Federal Reserve ‘s vice chair for supervision, on Tuesday spoke at the Brookings Institution in Washington, D.C., about the 2023 Basel III Endgame proposal , which would modify risk-based capital requirements for large banks. Following an extensive review process that included stakeholder comments in the intervening time — including what Barr called “productive meetings with board colleagues and our fellow federal bank regulatory agencies“ at the Federal Deposit Insurance

Lending 448

Lending Finance Real Estate Retail 448

Real Estate News

SEPTEMBER 10, 2024

A bright spot in a tough market? The best time to buy in 2024 — and save upwards of $14,000 — is just weeks away, says Realtor.com.

Buyers 278

Buyers Agents Marketing 278

Housing Wire

SEPTEMBER 10, 2024

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Want a killer real estate website? Today’s real estate website builder offers a turnkey, easy-to-use solution to help build your brand, market your business and generate more (and better) leads. And yes, there’s an MLS feed since most are IDX-enabled.

Real Estate Agent 447

Real Estate Agent Real Estate Brokerage Agents 447

Inman

SEPTEMBER 10, 2024

Officials from the National Association of Realtors are meeting this week to discuss the so-called pocket listing ban — one of the industry's most polarizing rules.

Realtors 203

Realtors Real Estate Agents 203

Housing Wire

SEPTEMBER 10, 2024

Chicago has cemented its position as one of the most valuable real estate markets in the United States, recently surpassing the $1 trillion mark in real estate asset value. This places Chicago alongside major markets such as New York, Los Angeles and Atlanta, creating a flourishing environment for real estate professionals and homebuyers alike. Recent data from Altos Research indicates that as of Sept. 3, Chicago had 1,818 active listings for houses and 2,874 active listings for condos.

Real Estate 442

Real Estate Agents Real Estate Agent Sellers 442

Appraisal Buzz

SEPTEMBER 10, 2024

Mortgage credit availability increased 0.9% in August, according to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). The increase brought the index score to 99. A decrease in the score indicates that lending standards are tightening, while increases are indicative of loosening credit. The index was benchmarked to 100 in March 2012.

Mortgage 195

Mortgage Government Lending Appraisal 195

Housing Wire

SEPTEMBER 10, 2024

Mortgage capital markets technology firm Polly has raised $25 million to invest in research and development, product innovation and expansion, the company said on Tuesday. 8VC led the latest equity investment with participation from existing investors Menlo Ventures , Meritech , Khosla Ventures and Fifth Wall. Polly has increased its locked loan volume by more than 150% this calendar year alone.

Mortgage 437

Mortgage Technology Investing Design 437

Appraisal Buzz

SEPTEMBER 10, 2024

The U.S. economy added 142,000 jobs in August – weaker growth than in previous months – while the unemployment rate remained flat at 4.2%, according to the U.S. Bureau of Labor Statistics. The slowing labor market increases the likelihood of Fed rate cut later this month. Market segments that saw the strongest job growth in August included health care and construction.

Marketing 195

Marketing Construction Mortgage Appraisal 195

George Dell

SEPTEMBER 10, 2024

What is an “accurate” appraisal? First, we note that in Standard 1 of USPAP (Uniform Standards of Professional Appraisal Practice), accuracy is not required. What is required is that an appraisal be credible, or “worthy of belief.” Perhaps reviewers know how to judge “accuracy.” Good news. Standard 3 does say specifically that the reviewer must […] The post An Accurate Appraisal?

Appraisal 195

Appraisal Valuation 195

Appraisal Buzz

SEPTEMBER 10, 2024

Real estate and financial services industry veteran Diana Reid is the new CEO of Freddie Mac , effective immediately. Reid also will serve as a member of Freddie Mac’s board of directors. President and Interim CEO Michael Hutchins will continue as the company’s president. Reid has more than four decades of banking, real estate, capital markets and affordable housing experience, most recently serving as an independent director and advisor to several organizations.

Real Estate 195

Real Estate Finance Investing Marketing 195

Inman

SEPTEMBER 10, 2024

The new commission rules are confusing. Compliance expert Summer Goralik unpacks whether listing agents can mention buyer’s agent compensation in the private remarks on the MLS.

Agents 190

Agents Realtors Brokerage Marketing 190

Appraisal Buzz

SEPTEMBER 10, 2024

Consumers had a slightly more optimistic view of the housing market in August, as news of a possible September rate cut was widely circulated in the media. As a result, the Fannie Mae Home Purchase Sentiment Index (HPSI) increased 0.6 points compared with July, to a score of 72.1. Year-over-year the index is up 5.2 points. In August, a survey-high 39% of consumers said they expect mortgage rates to decline in the next 12 months, up from 29% the month prior.

Housing Market 195

Housing Market Marketing Inventory Development 195

Inman

SEPTEMBER 10, 2024

With former JP Morgan Chase Director Priscilla Almodovar serving as Fannie Mae's CEO since 2022, both mortgage giants are now led by women for the first time in history.

Mortgage 190

Mortgage Finance 190

Appraisal Buzz

SEPTEMBER 10, 2024

The post Show Your Work appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Inman

SEPTEMBER 10, 2024

The easiest way to stay on the right side of the current legal and regulatory changes is to subscribe to them in both letter and spirit, team leader Carl Medford writes.

Sellers 190

Sellers Buyers Legal Agents 190

Eyes on Housing

SEPTEMBER 10, 2024

The homeownership rate for multigenerational households surpassed that of all other family household types in 2022 and now stands at 74.2%, exceeding the homeownership rate of other family households of 73.9%. Just a decade ago, the homeownership rate for multigenerational stood at 69.3%, second to other family households at 71.3%. Multigenerational households are defined by.

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Inman

SEPTEMBER 10, 2024

The campaign positions each luxury home sold under the Sotheby's International Realty banner as one-of-a-kind and the agents who represent those properties as "curators of the unique," the firm told Inman.

Realty 187

Realty Agents Brokerage Marketing 187

Eyes on Housing

SEPTEMBER 10, 2024

In the most recent NAHB research on home buyer preferences, What Home Buyers Really Want Study, consumers were asked to rate how 28 kitchen and 18 bathroom features would influence their home purchase decision, if at all, using the following four-point scale: Kitchen Eighty percent of respondents rated a walk-in pantry and table space for.

Buyers 158

Buyers 158

Inman

SEPTEMBER 10, 2024

Stakes are high, which makes communication tougher than ever for agents, colleagues and clients. Tell us what you're seeing go wrong these days.

Clients 187

Clients Agents 187