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Fintech Calque rolled out an affordable version of its Buy Before You Sell program that enables homeowners to remove home sale contingencies and debt-to-income (DTI) constraints. Dubbed the “Contingency Buster,” the product uses its Purchase Price Guarantee (PPG), a binding backup contract that if a homebuyer’s current home does not sell within 150 days, the fintech will purchase it at an agreed-upon price, the company said in a release Tuesday.
Even as the real estate and mortgage markets are seeing light at the end of the tunnel following two difficult years of conditions, mortgage rates have yet to ease enough to create a surge of demand for purchase loans and refinances. At HousingWire ‘s Mortgage Rates Center on Tuesday, the rate for 30-year conventional loans stood at 6.64%, down 5 basis points (bps) from a week ago.
The June 2024 S&P CoreLogic Case-Shiller Indices findings were made public today by S&P Dow Jones Indices (S&P DJI). In June 2024, the primary indicator of U.S. home prices hit a new record high and began to decline. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which takes into account all nine U.S. Census divisions, showed an annual growth of 5.4%, which was less than the 5.9% gain recorded in May.
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.
Despite the overwhelming desire among the baby boomer generation for aging in place in their current homes, practical challenges like living costs and elevated home prices appear to be leading more older people to cohabitation with roommates, or “ boommates.” This is according to a column published this week by NextAvenue. “As home prices rise and property taxes and insurance bills soar, it’s become ever more difficult to age in place,” the article stated.
Home prices continued to climb in June. The S&P CoreLogic Case-Shiller national home price index rose 5.4% annually to a reading of 325.23 in June, according to data released Tuesday. While prices continue to climb on a year-over-year basis, June’s figure was down from 5.9% growth in May. June’s annualized increase is the lowest rate of home price appreciation since November 2023.
The Federal Housing Administration (FHA) announced late last week that the previously detailed updates and expansions to its 203(k) Rehabilitation Mortgage Insurance Program will be incorporated into updates for the FHA Connection (FHAC) portal. This system provides FHA-approved lenders and business partners with secure online access to computer systems at the U.S.
Watch the conversation with an agent who ditched cooperative compensation last year — and is getting deals done. See how he talks to sellers (and buyer agents).
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In my last article, I touched on three of the challenges we had to overcome to achieve our growth goals. Now, let’s dive in and examine some of the things my amazing team at Coldwell Banker Premier was able to accomplish to help us along our path. None of this happened overnight, so don’t beat yourself up and think that this is an impossible feat. Infrastructure The initial goal I was given was to essentially double the size of our company.
In a new analysis by Redfin , 85.7% of U.S. homeowners with mortgages have an interest rate below 6%, down from 90.6% at the start of last year, and a record high of 92.8% in mid-2022. This means even more than 85.7% of homeowners with mortgages have a rate below the current weekly average of 6.46%, prompting many to stay put instead of selling and buying another home at a higher rate—a phenomenon called the “lock-in effect.
Although cooperative compensation or commission information is no longer available on many MLSs after the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement went into effect Aug. 17 , some MLSs have allowed agents to continue indicating whether their seller is willing to consider concessions. The Bay East Association of Realtors , located in the San Francisco Bay Area, is taking things a step further by removing its “Concessions Considered: Ye
Federal Home Loan Bank of Pittsburgh President and CEO David G. Paulson The Federal Home Loan Bank of Pittsburgh (FHLBank) has announced that David G. Paulson , current COO, will become President and CEO effective October 1, 2024. Winthrop Watson will become Executive Senior Advisor, and his previously announced retirement date of December 31, 2024, remains unchanged.
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.
Chris Bruser, a reverse mortgage professional in Florida , agreed with an assertion that most people do not dream of entering the reverse mortgage business when they’re kids. But success can have a major impact on young people when they’re exposed to what it can look like, and this much was true for Bruser as a teenager when he worked at a country club as a golf caddy.
U.S. home prices continued their upward march in June, rising 0.2% on an adjusted basis compared with July, however the rate of appreciation is clearly slowing, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The index’s 20-city and 10-city composites reported monthly increases of 0.4% and 0.5%, respectively. Year-over-year, home prices – which are now at an all-time high – were up 5.4%.
Mortgage market conditions presented over the past two years have muted the effectiveness of the monetary policy tightening by saving $600 billion for homeowners, accounting for about 2% of personal consumption spending since 2022, according to a report by two Swiss Re Institute senior economists. “A dollar not spent on mortgage payments is a dollar free to spend elsewhere.
In a new report, University of Buffalo contracts law professor Tanya Monestier details ways in which contracts allow buyer agents to collect more compensation than agreed-to with the buyer.
A majority of single-family homes started in 2023 continued to have two full bathrooms according to the latest release of the Census Bureau’s Survey of Construction. According to the latest data, 64.7% of new single-family homes started in 2023 had two full bathrooms, 23.8% had three full bathrooms, 6.
With confusion around the new commission rules, compliance expert Summer Goralik unpacks whether listing agents should verify signed buyer-broker agreements before showing a property.
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The supermodel and her husband are the proud new owners of the iconic $29.5 million Malibu, California, "Wave House," sold for the first time in 36 years.
Analysis of the history of data from the American Community Survey (ACS) reveals dramatic shifts in the makeup of the construction labor force over the last two decades. While the overall count of workers in the industry now approaches the historic highs of the housing boom of 2005-2006, the share of tradesmen declined from 71%.
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Touted as faster and more affordable, Calque's new "Contingency Buster" product is tailored to homeowners who don't need to tap their equity when buying their next home, executives say.
Lender creates and funds an escrow account that's used to cover the difference between the full monthly mortgage payment and the payment with the reduced rate until the buydown expires.
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