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Todays housing starts data exceeded estimates; however, a closer examination of the report with the builder confidence reveals that the recent rise in mortgage rates , approaching 7.25%, has negatively affected builder sentiment. Since late 2022, our analysis indicates that mortgage rates in the 6%-6.5% range are positive to grow sales, whereas rates at 7% and above especially 7.50% or higher significantly impact the builder data.
Pending home sales fell 4.5% month over month in December on a seasonally adjusted basisthe largest decline since October 2022and dropped 2.3% year-over-year, according to a new report from Redfin. Homebuyer demand dipped at the end of the year as mortgage rates continued to climb. After inching downward at the beginning of the month, mortgage rates reversed course halfway through December and have been rising sincein part because the Federal Reserve projected fewer 2025 interest-rate cuts than
The U.S. Department of Justice (DOJ) announced this week that Mark Steven Diamond, who was accused of bilking elderly homeowners in a reverse mortgage and home repair scheme, was sentenced to 17 years in federal prison by the U.S. District Court for the Northern District of Illinois. Diamond was criminally indicted in 2017 and pleaded guilty last year to a federal charge of wire fraud affecting a financial institution, the DOJ said.
According to data from the Mortgage Bankers Association s (MBA) Builder Application Survey (BAS) for December 2024, mortgage applications for the purchase of new homes rose 8.9% over the previous year. The number of applications fell 3% from November 2024. Typical seasonal patterns have not been adjusted for in this update. Applications for newly built homes increased 9% compared to a year ago in December, while the FHA share of applications reached its second highest level in the surveys histor
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.
In a changing real estate market , mortgage lenders face increasing demand. If high mortgage rates and increased liquidity management arent challenging, then regulatory changes, operation inefficiencies, and economic uncertainty are enough. With high mortgage rates and stagnated origination, many financiers are focusing on mitigating risk and boosting efficiency.
Dozens of high-profile celebrities have lost their homes in the Los Angeles wildfires since last week, including Mandy Moore, Anthony Hopkins, John Goodman, Julia Louis-Dreyfus and more.
Dozens of high-profile celebrities have lost their homes in the Los Angeles wildfires since last week, including Mandy Moore, Anthony Hopkins, John Goodman, Julia Louis-Dreyfus and more.
As we head into 2025, Im optimistic about the Southern Nevada real estate market and the opportunities it presents. While the economic conditions are certainly shifting, I see several factors that could drive activity and create a dynamic year ahead. Economic landscape and interest rates The political climate is changing, and I believe this will contribute to a heating-up of the real estate market in the new year.
Agents have drawn on all their resources to play "matchmaker" to place people who don't need to use secondary properties with those who need housing in the area. Results are mixed, but it's working for some.
Compass is strengthening its presence in the Nutmeg State. On Friday, the largest brokerage in the country by sales volume announced that The Jennifer Leahy Team will be leaving Douglas Elliman to join the Robert Reffkin -helmed firm. Based in Greenwich, Connecticut, the team is led by Jennifer Leahy and consists of seven agents. The team was brokered at Douglas Elliman since 2020 and works across all sectors of the real estate market, from multimillion-dollar mansions to starter homes.
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.
Inman Connect New York is renowned for gathering the brightest minds in real estate, offering unparalleled access to expert insights and networking opportunities. This January, join industry leaders at the Hilton Midtown for transformative discussions on technology, branding and market strategies to propel your business into 2025. Discover how to leverage this premier event to enhance your professional growth and adapt to the ever-changing real estate landscape.
The judge in the Gibson/Umpa case filed an order laying out plausible evidence that the brokerages used a reverse auction strategy to find the best deal.
Plan to require lenders working with Fannie and Freddie to use FICO Score 10 T and VantageScore 4.0 models by Q4 2025 has been dropped, with new implementation date "TBD.
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.
In addition to it being the first full year under new CEO Eric Elfman, MoxiWorks has landed a significant round of financing to support its plans for the coming year.
Real estate professionals aren't just in the business of helping people buy and sell houses; they are the guardians of the very idea of home, coach Darryl Davis writes.
Kheyfets spent seven years as Block's Chief Operating Officer, and prior to that, led North American growth for Tractable, a unicorn in the AI accident and disaster recovery space.
Los Angeles-based Luxury Presence, which launched as a website developer for luxury brands before evolving into a wide-ranging software provider, will unveil the solution at ICNY on Tuesday.
A notice implemented into the reverse mortgage servicing process that is designed to flag potential foreclosures if they are in a federally declared disaster area could prove to be beneficial for any borrowers currently impacted by the Los Angeles-area wildfires , according to a servicing industry expert. Colorado fire and Ed Sharp After a reverse mortgage borrower in Superior, Colorado , was forced out of his home by the Marshall fire in December 2021 which burned more than 6,000 acres and cau
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