Housing Wire
JUNE 7, 2024
Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 trillion in equity over the past year, according to a CoreLogic report released Friday. The average U.S. homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022.
Appraisal Buzz
JUNE 7, 2024
According to a new report from CoreLogic entitled the Homeowner Equity Report (HER), American homeowners with a mortgage pulled in $28.000 in equity gains year-over-year during the first quarter of 2024, the highest recorded since late 2022. According to CoreLogic, mortgage holders account for roughly 62% of all U.S. residential properties and they saw, in percentage terms, a gain of 9.6% year-over-year representing a collective gain of $1.5 trillion collectively since the first quarter of 2023
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Housing Wire
JUNE 7, 2024
Consumer attitudes toward the purchase of a home fell “markedly” in May, while the percentage of consumers who said it was a “bad” time to buy a home grew month over month from 79% to 86%, according to new survey data from government-sponsored enterprise (GSE) Fannie Mae. The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 2.5 points in May to 69.4, marking an all-time low in the measurement of consumer sentiment toward homebuying.
Appraisal Buzz
JUNE 7, 2024
The Fannie Mae Home Purchase Sentiment Index (HPSI) declined 2.5 points to 69.4 in May, as the component evaluating consumer views toward homebuying circumstances fell sharply, reaching an all-time survey low. This month, only 14% of consumers said it was a good time to buy a property, down from 20% the previous month, while 67% said it was a good time to sell.
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Housing Wire
JUNE 7, 2024
Job creation that exceeded expectations in May has reinforced the perception that the Federal Reserve will maintain the same benchmark interest rates at its June meeting and may delay any rate cuts that were planned for this year. This means that mortgage rates are likely to be higher for even longer than previously expected. The U.S. economy added 272,000 jobs in May, above the market consensus estimate of 180,000.
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Housing Wire
JUNE 7, 2024
Following a few days of declining bond yields and mortgage rates this week, the trajectory took a significant turn on Friday with the release of favorable labor data , sparking a notable increase in the 10-year yield, a key indicator for those in housing. The BLS jobs report shows the honey badger labor market woke up and once again chose violence this morning.
Appraisal Buzz
JUNE 7, 2024
Due to rising home prices, U.S. homeowners with a mortgage gained an average of $28,000 in equity during the past year, according to CoreLogic. That’s the largest yearly gain since late 2022. States that saw the highest average annual equity gains, as of the end of the first quarter, included California ($64,000), Massachusetts ($61,000) and New Jersey ($59,000).
Housing Wire
JUNE 7, 2024
Legal and financial troubles are piling up for mortgage fintech lender LoanSnap , with the company having been recently evicted from its headquarters in Southern California. The news was previously reported this week by TechCrunch. TechCrunch reported on Monday that while “LoanSnap has not yet shut down, according to two employees, the vibe inside the company is harrowing as workers wait for clarity on the company’s future.“ The firm reportedly failed to pay employees for at least a month late l
Real Estate News
JUNE 7, 2024
Fannie Mae’s sentiment index hit a new low in May, with only 14% saying now is a good time to buy a home, but sales activity is expected to increase.
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Housing Wire
JUNE 7, 2024
When the man served Donna (not her real name) with a notice of eviction, she hid for a while under the comfort of complete denial. It didn’t make sense to her because she had owned the home for almost three decades. How was this even possible? She later discovered that unknown fraudsters had forged and filed documents to make it look like her house had been sold at a foreclosure sale.
Real Estate News
JUNE 7, 2024
According to a new CoreLogic report, the typical homeowner saw their home equity increase by $28,000 over the past year.
Housing Wire
JUNE 7, 2024
A myriad of positive and negative developments in the lives of older adults — including higher living costs, inflation , longer life expectancies and higher education levels — have led to a rise in the number of retirement-aged adults remaining in the U.S. workforce according to new government data analyzed by LendingTree. The analysis was based on U.S.
Real Estate News
JUNE 7, 2024
Industry leaders began sounding the alarm last week after seeing unlicensed data on a portal-like section of Microsoft’s search engine.
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Housing Wire
JUNE 7, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Listings are the life-blood of all successful real estate businesses, but making the leap from working primarily with buyers to working with sellers can be a challenge for many agents early in their careers.
Real Estate News
JUNE 7, 2024
In a previous objection, Spring Way — a former plaintiff in a copycat case — said the amount paid by Anywhere, RE/MAX and KW won’t cover all “injured parties.
Housing Wire
JUNE 7, 2024
Another round of layoffs hit hundreds of Newrez employees in Colorado, the second so far this year in the state. It follows the the lender’s recent acquisition of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS). Newrez, owned by asset manager Rithm Capital , is imposing a workforce reduction of 317 employees at its Greenwood Village, Colorado, facility, a former SLS location.
Appraisal Buzz
JUNE 7, 2024
A new study by LendingTree examined how much borrowers in each state could save if they chose the lowest annual percentage rate (APR) offered instead of the highest when shopping for a mortgage. In times, where the 30-year fixed-rate mortgage (FRM) still borders the 7% range , and the national median payment applied for by purchase applicants increasing to $2,256 in April , smart shoppers are looking to save whatever they can throughout the home buying process.
Housing Wire
JUNE 7, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Creating a real estate marketing plan can be harder than it sounds. It’s important to be intentional and choose strategies that give you the highest likelihood of meeting and connecting with your ideal clients.
Inman
JUNE 7, 2024
Four days after Bing Real Estate came under fire for its alleged co-opting of listing data from Zillow, Redfin and Realtor.com, Microsoft has removed for-sale listing data from its site.
Housing Wire
JUNE 7, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. To succeed in real estate, it’s essential to have affordable, efficient tools for generating, nurturing, and converting leads into clients. In this review, we’ll look at Zurple, a lead generation platform that uses pay-per-click (PPC) ads to drive leads to a done-for-you IDX website, then nurtures those leads through automated text messages and em
Inman
JUNE 7, 2024
The trips were to the Indonesian island of Bali and the secretive, all-male club known as Bohemian Grove in Northern California.
Housing Wire
JUNE 7, 2024
Engel & Volkers Atlanta , a luxury real estate brokerage, announced Thursday that Christopher Burell is joining the firm as its new chief growth officer. Burell has 20 years of prior experience in the metro Atlanta real estate scene. He previously served in executive and broker roles for several leading firms in the area. In announcing the hire, Engel & Volkers said that Burell has “earned an esteemed reputation as a real estate industry leader, combining his dynamic leadership style and
Appraisal Buzz
JUNE 7, 2024
Mortgage consultancy BlackFin has named Finastra , a provider of financial software applications and marketplaces, a preferred partner. As a preferred partner, Finastra will collaborate closely with BlackFin to implement and enhance digital banking and mortgage solutions for its clients. Finastra’s extensive suite of solutions, including its leading open fintech ecosystem, will be leveraged to create tailored, future-proofed solutions.
Housing Wire
JUNE 7, 2024
Almost all Home Equity Conversion Mortgages (HECMs) originated today utilize the adjustable-rate mortgage (ARM) option. In stark contrast to traditional mortgage lending, the reverse mortgage business is dominated by ARMs, representing over 99% of Federal Housing Administration (FHA)-insured reverse mortgages originated today. This is due, in part, because borrowers want to control how much they borrow and when they borrow from an open line-of-credit that is growing in their favor.
Appraisal Buzz
JUNE 7, 2024
On Wednesday, June 12, the Sente Banking Committee will be hosting Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra , as he testifies at before the Committee at a hearing titled, “ The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress ” beginning at 8:45 a.m. Central. Leadership takes the stand Chopra, as Director of the CFPB is responsible for day-to-day management at the Bureau, a unit of the Federal Reserve System charged with protecting families and hones
Housing Wire
JUNE 7, 2024
The past few years have not been easy for Josh Team as personal health challenges forced him to take a step back from his role at Keller Williams. But Team said the time away gave him a chance to reflect on the kind of work he gets the most enjoyment from. And when Ryan Serhant approached Team to join his eponymous brokerage, Team said he was excited to jump into a new challenge.
Appraisal Buzz
JUNE 7, 2024
The U.S. economy added 272,000 jobs in May – above expectations – however the total number of unemployed increased to 6.6 million, raising the unemployment rate to 4.0%, according to estimates from the U.S. Bureau of Labor Statistics. Employment continued to trend up in several industries, led by health care; government; leisure and hospitality; and professional, scientific, and technical services.
Housing Wire
JUNE 7, 2024
Wholesale lender OCMBC Inc. , which was recently sued by direct lender Home Mortgage Alliance Corp. (HMAC) over the alleged poaching of both key personnel and a wholesale lending brand, issued a statement this week that called the allegations “baseless” and added that any employment changes have been made “independently and lawfully.” The case was first reported by National Mortgage News.
Appraisal Buzz
JUNE 7, 2024
Home prices are dropping for the first time in years in certain U.S. metros including Austin (down 2.9% year over year), San Antonio (down 1.2%), Fort Worth (down 1.2%) and Portland, Ore. (down 0.9%), according to a report from Redfin. Nationwide, price drops are at their highest level since November 2022, suggesting more metros may soon see sale prices decline, according to the firm’s data.
Inman
JUNE 7, 2024
Employers added 272,000 jobs in May, far exceeding the consensus view among economists that payrolls would rise by 180,000 and the average of 232,000 over the past year.
Appraisal Buzz
JUNE 7, 2024
Mortgage rate lock volume increased 6.78% in May compared with April, according to Mortgage Capital Trading, Inc. (MCT), which offers mortgage capital markets technology. As mortgage lock volume edges upward during the buying season, the mortgage industry continues to monitor economic indicators that will factor into the Federal Reserve’s decision on how long to hold rates.
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