Housing Wire
AUGUST 14, 2024
Mortgage rates continued to recede during the past week, with the market anticipating a Federal Reserve rate cut next month and the U.S. economy showing signs of weakening. At HousingWire ‘s Mortgage Rates Center , the 30-year conforming loan rate averaged 6.66% on Wednesday. That was 11 basis points (bps) lower than a week ago and 35 bps lower than two weeks ago.
Appraisal Buzz
AUGUST 14, 2024
A new report from Realtor.com examines the U.S. markets that have the “it” factor, as Columbus, Ohio; Knoxville, Tennessee; and Louisville, Kentucky claimed the top three spots in terms of popularity with online searchers over the past year. “With a mix of affordability and growing inventory, these markets were sought out by online home shoppers, earning them a spot on our Most Popular Markets ranking,” said Realtor.com Chief Economist Danielle Hale.
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Housing Wire
AUGUST 14, 2024
Wednesday’s Consumer Price Index (CPI) inflation report for July came in as expected — and it gives a clear pathway for the Federal Reserve to cut benchmark rates for the first time since starting its aggressive rate-hike cycle in early 2022. The history of global pandemics shows inflation rising at first, as supply chains don’t operate well in this environment, but disinflation happens after that.
Appraisal Buzz
AUGUST 14, 2024
Mortgage relief is on the horizon for U.S. homebuyers as a strong economy bolsters the housing market, according to the Realtor.com 2024 Forecast Update. The report predicts a year-end rise in both for-sale inventory and the median sales price of existing homes, projecting increases of 14.5% and 4.6%, respectively, despite ongoing challenges from elevated mortgage rates.
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Housing Wire
AUGUST 14, 2024
The recent declines in mortgage rates have been good news for mortgage professionals and consumers alike. But the industry is not yet out of the woods, said Todd Sheinin, the Maryland-based vice president of strategy and development at Primary Residential Mortgage Inc. “As you talk to more people across all aspects of our business, from the loan officers to the consumer to real estate agents, everybody is eagerly excited for what’s coming,” Sheinin said.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
AUGUST 14, 2024
Denver-based Realtor Bret Weinstein took on a client whose house had been on the market for 60 days. Despite dropping the price to $625,000 from $650,000, it sat for another 45 days with no offers. Another price cut to $600,000 didn’t help either, as it resulted in another 20 days of radio silence. “We then switched stagers, and the home sold with multiple offers in a day,” he said.
Real Estate News
AUGUST 14, 2024
Ryan Schneider tells Real Estate News that being the “first mover and the fastest learner” helped the brokerage prepare its agents for the changes ahead.
Housing Wire
AUGUST 14, 2024
The Consumer Price Index (CPI) continues to point toward an interest rate cut in September. In the monthly inflation report released Wednesday, the inflation metric met expectations and fell to 2.9% for the 12 months ending in July. The drop brings the CPI closer to the Federal Reserve ‘s target inflation rate of 2%. Housing costs, which rose 0.4%, accounted for 90% of the monthly inflation gain in July.
Real Estate News
AUGUST 14, 2024
During Mega Agent Camp, CoStar CEO Andy Florance discussed KW's strong performance on the search portal and how CoStar got its “Death Star” nickname.
Speaker: Dylan Secrest
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.
Housing Wire
AUGUST 14, 2024
In early 2021, the United States Congress enacted the Corporate Transparency Act (CTA) to help federal agencies combat money laundering and other financial crimes. The law went into effect on January 1, 2024. It requires about 33 million small businesses, including real estate organizations, to report beneficial owner information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network ( FinCEN ).
Appraisal Buzz
AUGUST 14, 2024
M&T Bank Head of Affordable Housing Lending Lopa Kolluri M&T Bank has announced that it has appointed Lopa Kolluri as Head of Affordable Housing Lending. In this new role, Kolluri is responsible for the development, oversight, and day-to-day management of the Affordable Housing vertical within M&T’s Commercial Bank. Kolluri will execute M&T’s affordable housing business strategy and establish operational processes and governance structures to ensure the efficient delivery of firs
Housing Wire
AUGUST 14, 2024
Ralph Harvey , Jason Saphire and Ben Caballero are three of the most prolific agents in America. They collectively sold over 10,000 homes last year alone, and you won’t ever find them on the buy-side of a transaction. But these listing-only agents are still having to adjust their practices to conform with the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement that goes into effect on Saturday.
Appraisal Buzz
AUGUST 14, 2024
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Advertiser: Trellis
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Housing Wire
AUGUST 14, 2024
In a special crossover episode of the RealTrending and Power House podcasts, HousingWire CEO Clayton Collins sits down with Anthony Lamacchia, the founder, CEO and broker of Lamacchia Companies. Collins and Lamacchia discuss the latter’s upbringing and career path, from working for a family business to carving his own path into real estate. Lamacchia also discusses the importance of marketing and branding for lead generation, boots-on-the-ground recruiting tactics using billboards, the com
Inman
AUGUST 14, 2024
Four leading Keller Williams owners share the key to creating a lead generation strategy that yields offers that homesellers can't resist.
Housing Wire
AUGUST 14, 2024
Executives at Swiss bank UBS said on Wednesday that they’ve struck a deal to sell Credit Suisse ’s U.S. servicing business. They did not provide information related to the buyers’ names or the financial details. In the U.S., Credit Suisse owns Select Portfolio Servicing (SPS). According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. primary mortgage servicer at the end of June, handling $166.7 billion in unpaid principal balance (UPB).
Appraisal Buzz
AUGUST 14, 2024
For the first time since June 2020, the median asking rent decreased in July compared to the same month last year across all bedroom counts, according to a new report from Redfin. The average monthly rent for apartments with one to one and two bedrooms dropped by 0.1% to $1,498; for apartments with three or more bedrooms, the median rent decreased by 2.4% to $2,010.
Housing Wire
AUGUST 14, 2024
Leveraging digital marketing assets, telling a rich story and finding cash offers before listing a home were just some of the tips shared this week by the lead-generation panel at the Mega Agent Camp hosted by Keller Williams. The brokerage utilizes a method it calls “make offer for immediate response,” or MOFIRs. These offers can include providing sellers an immediate cash offer, upfront loans for home improvements, and giving special incentives to essential workers such as police officers, nur
Appraisal Buzz
AUGUST 14, 2024
Waterstone Mortgage has relocated its home office to Brookfield, Wisconsin. Previously located in Pewaukee, Wisconsin, the move comes as part of the lender’s initiative to provide an engaging, innovative workspace for its corporate team, while accommodating the shift to a predominantly hybrid workforce. “With many of our team members working remotely or with a hybrid schedule, the transition to a smaller but more modernly equipped space made sense,” says Elizabeth Spragg, chief people and admini
Housing Wire
AUGUST 14, 2024
Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck. During its second-quarter earnings presentation last week, FOA President Kristen Sieffert offered new details about the ways in which FOA will leverage its assets from AAG.
Appraisal Buzz
AUGUST 14, 2024
Wildfires continue to be a formidable threat across the western United States, with more than 24,000 fires burning over 3 million acres as of mid-July 2024, according to the National Interagency Fire Center (NIFC). The CoreLogic 2024 Wildfire Risk Report underscores the urgent need for accurate risk assessment and effective mitigation strategies to protect vulnerable communities and properties from catastrophic events.
Housing Wire
AUGUST 14, 2024
The Federal Housing Administration (FHA) on Wednesday published a new proposed Mortgagee Letter (ML) that offers an early look at policies designed to expand contact options with mortgage borrowers who are in default. Published on FHA’s Single Family Drafting Table — an online portal where proposed U.S. Department of Housing and Urban Development (HUD) single-family policies can be reviewed prior to going into full effect — the new “ Modernization of Engagement with Borrowers in Default ” docume
Appraisal Buzz
AUGUST 14, 2024
Informative Research has launched new alert types to enhance the portfolio monitoring service offered by Informative Research Data Solutions. The advanced alerts offer sophisticated monitoring capabilities, the firm says in a release. “Fast and accurate information is power in today’s market, especially when it comes to borrower retention,” says Shannon Santos, executive vice president, Informative Research, in a release.
Housing Wire
AUGUST 14, 2024
Non-QM wholesale lender Angel Oak Mortgage Solutions (AOMS) has promoted longtime production head Tom Hutchens to president. The Atlanta-based company, which is part of the larger family of Angel Oak mortgage entities, said John Jeanmonod , formerly Angel Oak’s regional vice president of sales, would replace Hutchens as executive VP of production.
Appraisal Buzz
AUGUST 14, 2024
Planet Home Lending , a national mortgage lender and servicer, has acquired certain assets of retail lender Axia Home Loans, Bellevue, Washington, an employee-owned company with branches in 17 states. Terms of the deal were not disclosed. Planet Home Lending says in a release that it is dedicated to increasing its retail market share through a combination of organic growth and strategic acquisitions.
Housing Wire
AUGUST 14, 2024
Planet Home Lending confirmed on Tuesday the acquisition of certain retail assets from Axia Home Loans , describing the transaction as an opportunity to expand its operations in the Western, Northwestern, and Midwestern markets. HousingWire broke the news in early August. Axia is also winding down its wholesale division as a result of the retail asset sale to Planet, HousingWire has confirmed.
Appraisal Buzz
AUGUST 14, 2024
Haley Parker has been elevated to the new position of chief marketing and business development officer while Brittny Hovland is being promoted to the position of senior vice president operational support at Fairway Independent Mortgage Corp. In her new role, Parker will be responsible for driving Fairway’s brand and marketing strategy, ensuring alignment with business objectives and bolstering Fairway’s market presence.
Housing Wire
AUGUST 14, 2024
U.S. workers are feeling more confident about their ability to meet retirement savings goals as inflation has weakened, according to a new consumer survey conducted by Charles Schwab. “[A]nxiety around inflation and market volatility has come down since last year,” according to the online survey of 1,000 Americans who hold 401(k) retirement accounts. “43% of workers think they are very likely to achieve their retirement savings goals compared to 37% in 2023,” the results explained.
Appraisal Buzz
AUGUST 14, 2024
Mortgage application volume surged 16.8% last week as mortgage rates tumbled, with most of the increase coming from refinances, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 35% from the previous week and were up 118% compared with the same week one year ago. Applications for purchases increased 3% compared with the previous week but were down 8% compared with the same week one year ago.
George Dell
AUGUST 14, 2024
I just attended the American Statistical Association joint conference in Portland. I learned some things: 1) I have forgotten a lot from my extensive graduate stats classes. 2) My narrow focus on valuation and risk has narrowed my world. 3) “Statistics” has widened, progressed, advanced, and gentrified. Statistics has progressed. Valuation has not progressed.
Inman
AUGUST 14, 2024
On the first day of Keller Williams' annual Mega Agent Camp in Austin, franchise Head of Industry and Learning Jason Abrams talks commissions and how leaders must help agents thrive — and not just survive — through upcoming changes.
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