Housing Wire
AUGUST 29, 2024
Unsold inventory of homes on the market has been climbing in the U.S. for two years, right along with rising mortgage rates. In general, inventory rises with rates because more expensive money slows demand. When demand slows, inventory grows. According to Altos Research , there are 40% more homes on the market at the end of August 2024 than there were last year at this time.
Appraisal Buzz
AUGUST 29, 2024
Americans’ evolving work environments and other factors have led to a “difficult commercial real estate landscape in 2024,” according to an analysis of the U.S. office space market by researchers at Flatworld Solutions , national provider of data science and analytics. Their study revealed the highest commercial real estate delinquency rates since 2015 and vacancy rates topping 20% in job hubs such as San Francisco.
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Housing Wire
AUGUST 29, 2024
As the U.S. workforce continues to age commensurately with the population at large, a new report by U.S. Money Reserve illustrates that the highest concentration of older workers — those at or over the age of 65 — are concentrated in the New England region of the country. Based on data from the U.S. Census Bureau ’s 2022 American Community Survey released last year, Vermont was found to have the highest share of its over-65 population active in the workforce. 24.8% of the retirement-age populati
Appraisal Buzz
AUGUST 29, 2024
A new report from Redfin has found that the monthly housing payment for the typical U.S. starter home sold in July was $1,981, up 4.4% year-over-year. That means homebuyers must earn $79,252 annually in order to afford a typical U.S. starter home, also up 4.4% year-over-year, and just a few hundred dollars shy of last October 2023’s all-time high. The average mortgage rate was 6.85% in July, down slightly from its springtime peak, but still more than double pandemic-era lows.
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Housing Wire
AUGUST 29, 2024
Mortgage rates are finally dropping, but pending home sales fell even further into the toilet in July. That’s according to the July pending home sales index from the National Association of Realtors. On an annual basis, the index fell by 8.5% to the second lowest seasonally adjusted rate in the data’s history, topping only April of 2020 when the market was frozen by the pandemic.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
AUGUST 29, 2024
Urbanization is rapidly transforming cities worldwide. By 2050, it is projected that 90% of the U.S. population will reside in urban areas, signifying a monumental shift towards city living. This unprecedented urban growth poses substantial implications for housing, particularly in accommodating an expanding and increasingly diverse population within urban centers.
Real Estate News
AUGUST 29, 2024
The former CEO of RE/MAX and Century 21 says he will apply his experience helping franchise owners to his new role in real estate consulting.
Housing Wire
AUGUST 29, 2024
Many state Realtor associations’ new forms —such as buyer representation agreements—are largely incomprehensible to the average homebuyer or seller and have language that seeks to avoid the terms of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , according to a report released earlier this month.
Real Estate News
AUGUST 29, 2024
Rates are edging closer to 6%, but the downward trend still hasn’t translated into sales as potential homebuyers play the waiting game.
Speaker: Dylan Secrest
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Housing Wire
AUGUST 29, 2024
Richelle Hopkins of Mutual of Omaha Mortgage has been a reverse mortgage professional for 20 years, moving to Arizona in 2006. In 2020, a colleague approached her about establishing a Phoenix-based chapter of Women in Insurance and Financial Services (WIFS), an association of financial services professionals who aim to “attract, develop and advance women in an underrepresented profession,” according to the WIFS National website.
Real Estate News
AUGUST 29, 2024
The association will ask the highest court to weigh in on the case after a lower court ruled that the DOJ could continue its investigation into NAR policies.
Housing Wire
AUGUST 29, 2024
Presidents and board chairs of the 11 Federal Home Loan Banks (FHLBanks), under pressure to pump more money into affordable housing, sent letters to the U.S. Department of Treasury on Thursday saying that simply raising their contribution threshold will not address the complexities of the current housing crisis. Instead, the FHLBanks—11 U.S. government-sponsored banks that provide liquidity to financial institutions to support housing finance and community investment—brought recommendations on h
Real Estate News
AUGUST 29, 2024
“Our hard-won settlement paved the way for a new era,” said Josh Sitzer, whose company offers flat-fee home tour and offer preparation services for buyers.
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Housing Wire
AUGUST 29, 2024
Intelligent Data Integration Suite (IDIS) VIU by HUB is a digitally-enabled personal lines brokerage platform that seamlessly integrates into the home-buying experience. Clients can quickly shop, purchase, and manage their insurance in a complex market, thus a timely value-add for customers. For partners, VIU provides new ancillary revenue to off-set rising interest rates and inflation.
Appraisal Buzz
AUGUST 29, 2024
Pending home sales decreased 5.5% in July compared with June and were down 8.5% compared with July 2023, as mortgage rates and home prices remained stubbornly high, according to the National Association of Realtors (NAR). Regionally, and month over month, contract signings decreased 1.4% in the Northeast, 7.8% in the Midwest, 6.5% in the South and 3.8% in the West.
Housing Wire
AUGUST 29, 2024
CompassEdge Optimal Blue’s CompassEdge hedging and loan trading platform helps lenders maximize profitability with unmatched pipeline risk management tools, and dynamic loan sale and MSR valuation functionality. Attendees will experience new AI-powered assistants in CompassEdge that help lenders reduce manual processes associated with profitability attribution, projecting future pipeline changes, and optimizing trade selection.
Appraisal Buzz
AUGUST 29, 2024
A&D Mortgage has executed its fourth non-QM securitization of the year, valued at $331.5 million. The centerpiece of the transaction is a $209.6 million two-year senior note, which secured a Triple A rating and was priced at 145 basis points over Treasuries. Kroll Bond Rating Agency has assigned preliminary ratings to nine classes of mortgage pass-through certificates from the ADMT 2024-NQM4 Trust, associated with this transaction.
Housing Wire
AUGUST 29, 2024
Lofty Lofty provides an AI-powered platform that helps real estate professionals increase their productivity and accelerate business growth. Featuring award-winning technology, the Lofty platform is designed to optimize every step of the real estate journey, from search to settlement. By leveraging one unified hub, customers can automate marketing programs, streamline the sales process, and maximize collaboration between agents empowering them to spend more time building relationships and their
Appraisal Buzz
AUGUST 29, 2024
The national median payment applied for by purchase applicants decreased to $2,140, down from from $2,167 in June, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). “Homebuyer affordability conditions improved for the third consecutive month as rates below 7 percent and rising housing inventory continue to bode well for prospective homebuyers,” says Edward Seiler, associate vice president, housing economics, and executive director, Research Institu
Housing Wire
AUGUST 29, 2024
ChatUWM ChatUWM is an AI-powered smart search designed to support independent mortgage brokers by providing instant responses on a range of topics including guidelines, matrices, summaries of UWM’s tools and technology and more.
Inman
AUGUST 29, 2024
Take a new, unconventional approach to one-on-ones that emphasizes the needs, preferences and goals of your agents, luxury consultant Chris Pollinger writes.
Housing Wire
AUGUST 29, 2024
Florida-based V.A.-focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out refinance loans , the parties announced on Thursday. The deal, which includes a $2.25 million civil penalty, was reached without the company admitting or denying any of the findings, according to the consent order.
Inman
AUGUST 29, 2024
Procedural fairness pertains to the just treatment of the processes and methods used to make eminent domain decisions and resolve disputes, real estate educator Lee Davenport writes.
Housing Wire
AUGUST 29, 2024
AIVA Assist Processing Providing loan officers, processors and underwriters with a better way to calculate income, review assets and look for discrepancies when borrowers provide documents for verification. At Dark Matter Technologies, we’re leading the tech-driven revolution in loan origination. Our commitment to cutting-edge origination and AI technology solutions is reshaping the industry landscape, and illuminating the pathway to seamless experiences.
Inman
AUGUST 29, 2024
The announcement comes about six months after Bailey was replaced as RE/MAX president by Amy Lessinger. At T3 Sixty, he will focus on business development, consulting and representing the firm at industry events.
Housing Wire
AUGUST 29, 2024
By every metric, the nation’s affordable housing crisis has reached unprecedented heights. A record-high 22.4 million renter households are cost burdened , meaning they spend at least 30% of household income on housing and utilities, and we are short 7.3 million rental homes that are affordable and available to renters with extremely low incomes. Meanwhile, the number of households who qualify for rental assistance continues to rise, even as funding for the crucial subsidy remains relatively fix
Inman
AUGUST 29, 2024
Real Grader, a 2023 member of NAR REACH, offers a solution that measures the social reach of agents, as well as their impact on business research sites like Google My Business and LinkedIn.
Housing Wire
AUGUST 29, 2024
The employee at the center of the Move v. CoStar lawsuit granted his personal email access to roughly 40 documents prior to his departure for Move subsidiary Realtor.com, according to the latest filing in the legal battle between the two listing platform giants. On Tuesday, Move filed an amended motion for preliminary injunction against CoStar and James Kaminsky, the former Realtor.com employee who now works at CoStar’s Homes.com.
Inman
AUGUST 29, 2024
Find out how this third-generation broker's passion for all things real estate-related informs her work with clients and colleagues.
Housing Wire
AUGUST 29, 2024
In the months ahead, with the presidential election approaching and the Federal Reserve eyeing interest rate cuts, originators will scrutinize how shifting fiscal policy could influence the mortgage industry and the economy at large. A new administration could have ramifications for markets and the overall economy, with potential policy changes and market fluctuations that affect U.S. citizens and their buying power.
Inman
AUGUST 29, 2024
The Skyline Robotics robot will be tasked with maintaining the windows of a Durst Organization-owned 45-story Class A office tower on Sixth Avenue in New York City, it was announced this week.
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