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Home equity continued to rise in the second quarter of 2024 as residential properties with mortgages collectively gained $1.3 trillion in equity over the past year. But growth began to slow during these three months, according to the CoreLogic Homeowner Equity Insights report published on Thursday. The aggregate equity gain was 8% year over year, bringing total equity on mortgaged properties to more than $17.6 trillion at the end of Q2 2024.
The U.S. Department of Housing & Urban Development (HUD) has announced its most extensive update to the Manufactured Home Construction and Safety Standards in more than three decades, including 90 new or updated standards to increase innovation and production of homes with features that are sought-after by consumers, such as open floor plans and accessibility enhancements, open floor plans, and specifications for attics.
Lower mortgage rates over the past several months have led to increased affordability for prospective homebuyers, and this could lead to an extra competitive fall 2024 season. That’s according to a Zillow report released Thursday in which the Seattle -based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year.“ Zillow noted that the U.S. median monthly mortgage payment in August had declined by mo
The downward trend hasn’t fired up buyers (yet), but predictions of more cuts this year could move rates closer to 5% and amp up the market next spring.
Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.
Baby boomers are a key constituency for the reverse mortgage industry since they are currently the generation with the largest share of the population at or above the age of 62. A recent SmartAsset analysis of 2023 Home Mortgage Disclosure Act (HMDA) pinpointed where boomers are most active within the U.S. housing market. “ Retirement often signals a major shift in a person’s life.
In total, some 30,227 U.S. homes had foreclosure filings, such as default notifications, scheduled auctions, or bank repossessions, according to ATTOM’s August 2024 U.S. Foreclosure Market Report. This number was down 5.3% from a month ago and down 11% from a year ago. “Foreclosure activity has remained relatively steady in recent months, with both foreclosure starts and completed foreclosures declining in August,” said Rob Barber, CEO at ATTOM.
In total, some 30,227 U.S. homes had foreclosure filings, such as default notifications, scheduled auctions, or bank repossessions, according to ATTOM’s August 2024 U.S. Foreclosure Market Report. This number was down 5.3% from a month ago and down 11% from a year ago. “Foreclosure activity has remained relatively steady in recent months, with both foreclosure starts and completed foreclosures declining in August,” said Rob Barber, CEO at ATTOM.
Charlotte, North Carolina, has emerged as a major player in the Southeast U.S. real estate scene with its rapid growth and increasing appeal to homebuyers. While it hasn’t reached the trillion-dollar mark in residential real estate value held by cities like New York and Chicago , Charlotte’s market has nonetheless experienced significant growth, with total property values pushing $200 billion as of 2023.
Legal League recently hosted four training sessions for more than 80 mortgage servicers. Classes included content from Legal League’s Level 1 and 2 certifications combined with new, unique content requested by the servicer’s Foreclosure, Bankruptcy, and Loss Mitigation teams. The Legal League is a professional association of financial services law firms in the United States.
In a recent episode of the “Real Estate Insiders Unfiltered” podcast, co-hosts James Dwiggins and Keith Robinson chat with HousingWire Lead Analyst Logan Mohtashami to discuss a variety of issues — including pending concerns of a recession , mortgage rates and housing affordability issues that persist across the country. Mohtashami has worked in the mortgage and real estate industries since 1996, and he takes pride in his ability to quickly decipher data, form opinions and deliver actionable ins
The Consumer Financial Protection Bureau (CFPB) has ordered TD Bank to pay $28 million for illegal actions that could tarnish consumer credit reports and for not taking timely action to correct its errors. The CFPB’s investigation found that for several years, TD Bank repeatedly gave inaccurate account information to consumer reporting companies, which at times contained systemic errors about personal bankruptcies and credit card delinquencies, the bureau said Wednesday.
Compass is adding a new team to its Dallas roster. The real estate brokerage announced this week that the B-W Group is joining up and will operate out of its Park Cities office. The group reportedly tallied $56.8 million in sales volume in 2023. It is led by the mother-daughter team of Michele Balady Beach and Lindsay Beach. Jamie Moore is also a member.
According to a recent report from Redfin , mortgage-rate locks for second homes declined 13.1% year-over-year in August to the lowest level since March 2016. In contrast, there was a 5.2% reduction in mortgage-rate locks for primary homes. Rate locks for primary residences decreased by 31.9%, while rates for second properties decreased by 59.2% from pre-pandemic levels.
First launched in April of 2020, the Pass-Through Assistance Program (PTAP) was an important initiative designed to provide mortgage servicers with the liquidity needed to endure the financial challenges due to the COVID-19 pandemic. As millions of borrowers struggled to meet their mortgage payments, PTAP served as a lifeline, ensuring that servicers could meet their obligations to investors.
DHI Mortgage, Rate and CrossCountry Mortgage ranked as biggest employers of top-producing Latino mortgage originators by the National Association of Hispanic Real Estate Professionals (NAHREP)
Mortgage rates dropped to the lowest level since February 2023 this week, as the average rate for a 30-year fixed-rate mortgage fell to 6.20%, down from an average of 6.35% last week and down from 7.18% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. “Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” says Sam Khater, chief economist for Freddie Mac, in a statement.
The search platform is already live on the multiple listing service's website and comes amid a growing interest in using artificial intelligence to improve consumer home searches
PERSON OF THE WEEK: Since the pandemic, the mortgage industry has transitioned from a refinancing boom to a market characterized by elevated interest rates. As a result, many mortgage lenders have shifted their approach. Leveraging advanced data tools and technology, lenders are better understanding their borrowers, improving security measures, and creating a more robust and efficient lending landscape – thus helping them adapt to the new lending environment.
This week I joined Jim Duncan and his colleagues at Nest Realty in Virginia. I’ve known Jim for years through our mutual online writings. His Jim’s Note has always been a must read for me. “This week, we were joined by Jonathan Miller, President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm based in NYC.
Ben Head has joined LenderLogix , a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, as an account executive. Head has more than 20 years of sales experience in the mortgage industry. He joins LenderLogix from Enact Mortgage Insurance, where he served as a strategic accounts representative for more than 12 years.
Twenty-three-year-old Century 21 Scala Group agent Matt Torres shares his journey to the 2024 Paris Paralympics and the key to helping people with disabilities thrive.
The total market share of non-site built single-family homes (modular and panelized) was just 3% of single-family homes in 2023, according to completion data from the Census Bureau Survey of Construction data and NAHB analysis. This is a slight increase from the 2% share in 2022. This share has been steadily declining since the early-2000s.
August marked the eighth consecutive month in which Manchester, New Hampshire, was ranked the hottest U.S. market by Realtor.com. The top 20 hottest markets were all in the Northeast and Midwest.
Welcome to the Fun State of Florida Source: [link] By Sara Filips A new study ranked Florida as the #1 state for great daytime and nighttime activities, including restaurants, theme parks and festivals. TAMPA, Fla. – “Fun” can be defined in many ways, but one study reveals that Americans can collectively agree on certain states that are considered more fun than others.
Roshani Sheth filed a lawsuit against the National Association of Realtors in June, alleging discrimination, sexual harassment and retaliation. A new filing offers more details.
How automating data collection and analysis strengthens food safety practices In the food industry, compliance with safety regulations is non-negotiable. Ensuring that products are safe for consumption is a critical concern for food processing businesses, as failure to meet regulatory standards can lead to severe consequences, including product recalls, legal liabilities, and damage to brand reputation.
The iBuyer has appointed David Benson to its board of directors, effective immediately. Benson was Fannie Mae's president for six years, retiring from the role in May 2024.
It’s a tough market, but this is the market where careers are made, Real’s Jimmy Burgess writes. Double down on your work ethic, sharpening your skills and serving others.
The commission lawsuits are a wakeup call for real estate, new Inman contributor Mathew Speer writes. Now is the time to raise your standards and truly embrace transparency.
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