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In 2022, I argued that the Federal Reserve won’t pivot until the labor market breaks. This means that the Fed will need to create such a slowdown in the labor market that nobody will question their action when they pivot. This is what I call the “cover cuts” policy. After today’s jobs report and the negative revision to this report and the previous ones, it is safe to say nobody outside of crazy people who want to see America go into a recession will question the Fed rate cut that will happen th
Douglas G. Duncan Douglas G. Duncan , current SVP and Chief Economist at Fannie Mae, has officially announced his retirement via a LinkedIn post late Friday afternoon. Duncan’s post on his LinkedIn page ended speculation of an impending retirement and exit from the GSE. “I noticed someone ran a story about me retiring, so I thought I had better do it,” said Duncan in his post.
Mortgage rates remained flat following a jobs report on Friday that continued to show a cooling labor market. Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan originators told HousingWire. Kevin Leibowitz, president of Grayton Mortgage , said he was quoting 6.125% for a 30-year conventional mortgage of $400,000 on Friday with no discount points.
In Q2 of 2024, ATTOM produced a Special Housing Risk Report that highlights county-level housing markets across the country that are more or less susceptible to falls based on home affordability, underwater mortgages, and other metrics. According to the analysis, the most at-risk markets in the nation are—once again—concentrated in California, New Jersey, and Illinois, with some of the largest clusters located in inland California as well as the New York City and Chicago regions.
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.
The reverse mortgage industry is pressing ahead with a chance at lower interest rates later this month. While there were signs of weakness in performance metrics in August, there are also commensurate signs of encouragement, according to industry experts. Home Equity Conversion Mortgage (HECM) endorsements fell by 3.3% from July to August, with the total of 2,200 falling reasonably in line with Federal Housing Administration (FHA) HECM case numbers that posted their own gains in July.
Renting, traditionally seen as a more affordable option compared to homeownership, has become increasingly expensive in many of the nation’s largest cities. A recent analysis by LendingTree , using data from the U.S. Department of Housing and Urban Development (HUD) , paints a stark picture of how Fair Market Rents (FMRs) for one- and two-bedroom units have surged across the country over the five-year span of 2019-2024.
Renting, traditionally seen as a more affordable option compared to homeownership, has become increasingly expensive in many of the nation’s largest cities. A recent analysis by LendingTree , using data from the U.S. Department of Housing and Urban Development (HUD) , paints a stark picture of how Fair Market Rents (FMRs) for one- and two-bedroom units have surged across the country over the five-year span of 2019-2024.
Growth in the off-campus student housing market creates massive opportunities for property management companies. College enrollment is increasing for the first time since the pandemic, driving off-campus student housing revenue that outpaces multifamily rents in the same markets. Many property managers are looking to enter this market for the first time.
In an industry where managing a web of technology vendors to support LO’s sales and marketing needs has become overwhelmingly complex, inefficient and creates unnecessary security and compliance risks, CANDID is quickly becoming a leader in transforming how mortgage lenders operate. With its new partnership with Atlantic Bay Mortgage Group, CANDID is set to make an even greater impact.
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.
Aging in place continues to be the preference for the vast majority of older Americans. But the financial and emotional ramifications of staying in one’s current home, rather than moving to a nursing home or assisted-living facility, can be a heavy burden. The Wall Street Journal highlighted aging-in-place issues this week by interviewing several families across the country about their “crushing“ struggles to care for aging relatives.
Watch the conversation with eXp CEO Leo Pareja as he discusses the company’s decision to do away with cooperative compensation and lead the way on forms.
For more than two years, a storm has been brewing in the title insurance industry. Last week, the first raindrops began to fall when the Office of the Attorney General for the District of Columbia (OAG) announced settlements with four title firms over alleged kickback schemes. As a result of the settlements, Allied Title & Escrow LLC , KVS Title LLC , Modern Settlements LLC and Union Settlements will collectively pay more than $3.2 million.
Agent-client collaborative platform Rayse engages industry veterans as it works to empower real estate professionals; Fannie Mae chief economist stepping down.
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.
Millennials and members of Generation Z now make up the majority of military veteran and active-duty homebuyers, but not all cities offer good situations for them. To that end, Veterans United Home Loans conducted a study to find which housing markets are best for current and former military members in these two generations. It concluded that the most favorable markets are on the East Coast and in the Midwest.
The third quarterly installment of WFG’s “ Quarterly Economic Outlook ” webinar, featuring Williston Financial Group (WFG) Chairman and Founder Patrick F. Stone and Economist and Forbes contributor Bill Conerly, Ph.D. , will take place Tuesday, September 10th at Noon Central. During the live session, Stone and Conerly will provide insight and analysis on the current state of the economy, and its impact on the housing market, delve into the latest economic data and trends, and offer predictions f
August’s gain of just 142,000 total nonfarm payroll jobs confirms that the job market is cooling, which all in all is good news for the Federal Reserve , which meets in a little under two weeks to discuss interest rates. But is it enough to justify a half-point cut? Data from the U.S. Bureau of Labor Statistics released on Friday also showed that the June jobs report was revised downward to 118,000 jobs (from 179,000) and July down to 89,000 jobs (from 114,000).
Jimmy Burgess and Andrew Undem share strategies for writing a compelling offer on behalf of buyers, closing more deals and building lifelong client relationships.
Real estate agents largely felt prepared to tackle the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , according to the recently published Stephens Summer 2024 Real Estate Agent Survey. This is the seventh edition of the private investment bank’s quarterly survey.
Amid the current economic turmoil, including fears of a potential recession and recent significant stock market declines, real estate professionals must remain vigilant and adaptable, Victoria Kennedy writes.
Compass’s loss is Coldwell Banker Realty’s gain. The Boston -based Bell Petrini Group has affiliated with Coldwell Banker’s Back Bay office. The group is led by Katherine Bell and Maddy Petrini, who are bringing three team members with them. The group was previously affiliated with Compass. The Bell Petrini Group has more than 20 years of experience and has closed $47 million in volume so far this year.
The U.S. Department of Housing and Urban Development (HUD) awarded $31.7 million from its Fiscal Year 2024 budget to support 75 fair housing organizations across the nation through the Fair Housing Initiatives Program (FHIP). These funds are being directed to second- and third-year multi-year grantees of the Private Enforcement Initiative (PEI) to continue their ongoing fair housing enforcement endeavors on a national scale.
Today’s jobs report and the newly released preliminary estimate of the benchmark revision indicate that the U.S. labor market is slowing from its overheated state in 2021 and 2022 but remains stable. Among all sectors, construction led the August job gains, adding 34,000 jobs to payrolls. Additionally, wage growth accelerated in August. Wages grew at.
Keeping clients fully informed and helping them to think ahead about the logistics and financial implications of a second-home purchase can create more positive feelings and better outcomes, Jonathan Pressman writes.
Mortgage rates continued to decrease in August, landing at an average rate of 6.50%. According to Freddie Mac, the average monthly rate fell by 35 basis points (bps) from July’s rate of 6.85%. The August rate is down 57 bps from one year ago, which stood at 7.07%. The 15-year fixed-rate mortgage also saw a.
August payroll report includes "huge downward revisions" to previous estimates of June and July job growth, renewing recession worries and prospects for aggressive Fed rate cuts.
The harassment campaign benefits a number of odd bedfellows: the housing lobby, which wants unfettered access to federal funds and taxpayer-backed mortgage guarantees through Freddie, Fannie and the FHA – they see appraisals as an unnecessary bottleneck. A firm called Mizrahi Kroub is the largest filer of so-called “digital Americans with Disabilities Act lawsuits.
As new models roll off the assembly line this fall, Inman is kicking off its first-ever Power Wheels car contest to determine once and for all the best ride for real estate agents on the go.
We know evictions can be costly for both landlords and tenants (both financially and sometimes emotionally). But recently, I heard two investors discussing who actually loses more during the process.
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