Housing Wire
SEPTEMBER 11, 2024
On this crazy day with the bond market, mortgage rates dropped to another yearly low after the CPI inflation print. How low? Mortgage News Daily came out with a shocking print of 6.11% mortgage rates for their top-tier borrowers, while HousingWire’s Mortgage Rates Center , which tracks actual loan lock data from Polly , is also at a year-to-date low of 6.44%.
Appraisal Buzz
SEPTEMBER 11, 2024
CoreLogic has released its CoreLogic Home Price Index (HPI) and HPI Forecast for July 2024. U.S. year-over-year home price gains inched down, reaching 4.3% in July, falling further from the previous month’s 4.7% and resting below 5% for the third consecutive month. On a month-over-month basis, home prices decreased by 0.01% in July 2024 compared with June 2024.
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Housing Wire
SEPTEMBER 11, 2024
Mortgage rates have declined for six straight weeks, pushing loan application volume up 1.4% during the week ending Sept. 6, according to the Mortgage Bankers Association (MBA). The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S. — found that the seasonally adjusted refinance index increased 1% from the previous week and was 106% higher than the same week a year ago.
Appraisal Buzz
SEPTEMBER 11, 2024
A new report from RentCafe has ranked the nation’s best markets for rentals. The report found that the Midwest’s transformation to a leading area in tech and manufacturing is attracting budget—renters seeking affordability, amenities, and nature. This trend has propelled suburban Chicago to the top of the list of nation’s hottest rental markets, unseating the Miami region which long held its dominance atop the U.S. rental market.
Housing Wire
SEPTEMBER 11, 2024
On a recent episode of the RealTrending podcast , host Tracey Velt has a tantalizing conversation with Luis Carrion, CEO and chairman of Berkshire Hathaway HomeServices California Properties. Carrion was recently chosen as a 2024 RealTrends GameChanger based on his company’s five-year growth rate in transaction sides. Carrion also leads the firm’s office sales and investment advisory group.
Sacramento Appraisal Blog
SEPTEMBER 11, 2024
Mortgage rates have gone down, but buyers aren’t that impressed yet. It seems like the real estate community is really excited about lower rates, but buyers aren’t sharing the enthusiasm so much (yet). Let’s talk about it and maybe kick around some language to describe today’s housing market. Skim by topic or digest slowly. UPCOMING […] The post Buyers aren’t impressed yet with lower rates first appeared on Sacramento Appraisal Blog.
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Appraisal Buzz
SEPTEMBER 11, 2024
In today’s episode, Hal sits down with Jake Lew from Aivre (pronounced like “ivory”). Aivre was a standout at Valuation Expo, where their innovative approach had everyone talking (even if they weren’t quite sure how to pronounce it!). Jake offers insights into how Aivre is revolutionizing the process of appraisal—including how to prepare for the new UAD transition and strategies to ease into this change with confidence, even if you’re hesitant about the new system.
Housing Wire
SEPTEMBER 11, 2024
By this point, the information should be second nature: Aging in place is an increasingly common desire among homeowners who want to save money, avoid costly assisted-living facilities, stay connected to their communities or all of the above. As the preference grows, one group — homebuilders — is uniquely positioned to address these desires and profit from them.
Real Estate News
SEPTEMBER 11, 2024
The future of private listings and MLS integrity is at stake as a key NAR committee meets this week to hear arguments about keeping — or scrapping — the policy.
Housing Wire
SEPTEMBER 11, 2024
U.S. home-price appreciation continued to slow in July, a trend that is expected to continued through next summer, according to CoreLogic data released this week. National home prices were virtually flat compared to June and rose 4.3% year over year in July. Stagnant prices during the typically busy summer home-buying season are unusual, CoreLogic reported, as this was only the second time since 2010 that prices didn’t increase from June to July.
Real Estate News
SEPTEMBER 11, 2024
Agents are talking about compensation “in more depth than ever before” and clearing up a lot of confusion as agent fees stay “mostly the same,” Redfin found.
Housing Wire
SEPTEMBER 11, 2024
ICE Mortgage Technology will be sunsetting legacy integrations for its flagship Encompass platform by Oct. 31, 2025, which will modernize the mortgage market even if some vendors have to go kicking and screaming. In an email to partners on Tuesday, ICE said that it will be closing down the Encompass SDK (Software Development Kit) on the same day it sunsets the program’s Technology Partner Network, Total Quality Loan Services, PSDK and ePass.
Real Estate News
SEPTEMBER 11, 2024
Terms of the deal — which still requires a judge’s OK — were not revealed. Meanwhile, the settlement fund for Sitzer, Moehrl and Gibson is nearing $1 billion.
Housing Wire
SEPTEMBER 11, 2024
Michigan-based United Wholesale Mortgage (UWM) has launched proprietary technology that will use artificial intelligence (AI) to send pre-validated refinance opportunities. Dubbed “KEEP,” the system identifies borrowers who can save on their monthly mortgage payments and will automatically communicate these savings to them through an email that provides a link to a refi application, UWM announced Wednesday.
Appraisal Buzz
SEPTEMBER 11, 2024
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Housing Wire
SEPTEMBER 11, 2024
CMG Home Loans , the retail lending division of CMG Financial , recently made a key hire in its reverse mortgage division by adding industry veteran Kari Van Kleef as its operations manager. The move comes as the company broadens its ambitions for the reverse mortgage division, aiming to put its 1,400 traditional mortgage originators to work by adding reverse lending to their repertoire.
Eyes on Housing
SEPTEMBER 11, 2024
In 2023, the majority of homes started featured laundry connections on the first floor (72%), according to the Census’s Survey of Construction. Laundry located on the second floor or higher was the second most prevalent at 26%. The basement, garage, and other locations all had a 1% or lower share. In NAHB’s What Home Buyer’s.
Housing Wire
SEPTEMBER 11, 2024
California -based mortgage lender loanDepot appointed Nancy Smith to lead its Colorado and Wyoming branches as regional vice president of in-market retail. Smith will be responsible for growing sales volume in Colorado, which has the sixth-fastest percentage rate of population growth of all states, and Wyoming, a market traditionally underserved by independent mortgage banks , loanDepot said on Tuesday.
Inman
SEPTEMBER 11, 2024
Fifty-four percent of boomers who own their homes said they planned to live in them until they die, according to a new survey by Clever Real Estate.
Housing Wire
SEPTEMBER 11, 2024
As the mortgage industry continues to evolve at breakneck speed, risk management has never been a more critical lynchpin in the lending ecosystem. At the vanguard stands Mortgage Connect Risk Solutions (MCRS), formerly Adfitech, a leader in risk management, quality control , third-party reviews, and due diligence, known for protecting mortgage lenders and investors from the risks inherent in mortgage lending.
Appraisal Buzz
SEPTEMBER 11, 2024
The real estate-owned (REO) sector has undergone significant changes in recent years, with the industry experiencing a notable contraction and consolidation. The days of abundant inventory and dedicated REO professionals have dwindled, as the market has shifted due to various factors. The pandemic played a significant role in this transformation, with moratoriums on evictions and historically low-interest rates from 2020 to 2022 allowing homeowners to retain their properties.
Housing Wire
SEPTEMBER 11, 2024
Atlanta is one of the most active and valuable real estate markets in the United States. The city represents over $1 trillion in residential real estate asset value, creating a ripe environment for real estate agents and homebuyers alike. Atlanta also claims the crown as the No. 1 market for millennial homebuyers, with over 83,000 annual millennial-driven home purchases.
Appraisal Buzz
SEPTEMBER 11, 2024
Mortgage application volume increased 1.4% during the week ended September 6, as the average rate for a 30-year fixed-rate mortgage with a conforming loan balance fell to 6.29%, down from 6.43% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. The results include an adjustment for the Labor Day holiday.
Inman
SEPTEMBER 11, 2024
A surprisingly large increase in core CPI, which excludes volatile food and energy prices, means Fed policymakers are likely to start out with a modest 25 basis-point rate cut when they meet next week.
Appraisal Buzz
SEPTEMBER 11, 2024
Rate-and-term refinances surged 109% in August compared with July as mortgage rates decreased, according to Optimal Blue’s Market Advantage mortgage data report. Refi locks reached highest market share since the Fed began hiking rates in March 2022. Total rate lock volume increased 1% despite the typical seasonal slowdown in purchase lending. Lock volume growth was driven by the surge in refinance activity, as homeowners reacted to declining mortgage rates.
Inman
SEPTEMBER 11, 2024
These soft skills have never been more critical in light of the National Association of Realtors’ commission suit settlement and subsequent rule changes, OJO Labs CEO Chris Heller writes.
Appraisal Buzz
SEPTEMBER 11, 2024
Commercial mortgage delinquencies increased in the second quarter, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report. “The delinquency rate for loans backed by commercial real estate increased again in the second quarter,” says Jamie Woodwell, head of commercial real estate research for the MBA in a statement.
Inman
SEPTEMBER 11, 2024
After learning that Amazon founder Jeff Bezos was behind the entity that had purchased his Indian Creek Island home at a $6 million discount, homeseller Leo Kryss was not pleased with the brokerage, which double-ended the deal.
Appraisal Buzz
SEPTEMBER 11, 2024
Mobility Market Intelligence (MMI), which offers data intelligence and market insight tools for the mortgage and real estate industries, has introduced a new feature, Refinder, to help lenders uncover refinance opportunities in their database of past borrowers. Refinder scans a loan officer’s portfolio of past loans and identifies potential refinance opportunities based on a loan’s current interest rate.
Inman
SEPTEMBER 11, 2024
In the new normal, open houses have once again become one of the most valuable lead sources available, team leader Carl Medford writes. Here's how to run one the right way and make the most of the opportunity it presents.
Eyes on Housing
SEPTEMBER 11, 2024
Inflation eased further in August, reaching a new 3-year low despite persistent elevated housing costs. This inflation report is seen as the final key piece of data before the Fed’s meeting next week. The headline reading provides another dovish signal for future monetary policy, after recent signs of weakness in job reports. Although shelter costs.
Inman
SEPTEMBER 11, 2024
Led by luxury experts Hans Veenhuijsen and Olga García Hernández, the new office opens as more luxury buyers have shown interest in the city's market and as home prices have steadily grown in response to a strong economy and foreign investment.
BiggerPockets
SEPTEMBER 11, 2024
A 40-year mortgage could lower monthly payments and improve affordability, but may also drive up demand. There are pros and cons for buyers.
Inman
SEPTEMBER 11, 2024
If you want to tune out the noise, focus on your growth, ensure you have accomplished something at the end of the year, and learn to feel successful no matter what the market does, team leader Jen Berbas writes.
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