Housing Wire
OCTOBER 17, 2024
The U.S. economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. These are conclusions drawn by economists at Fannie Mae ‘s Economic and Strategic Research (ESR) Group. They’re now projecting gross domestic product (GDP) growth to fall from 3.2% in 2023 to 2.3% in 2024 and 2% in 2025.
Appraisal Buzz
OCTOBER 17, 2024
According to statistics from the September 2024 Builder Application Survey (BAS) by the Mortgage Bankers Association (MBA), mortgage applications for the purchase of new homes grew by 10.8% over the previous year. The number of applications fell by 6% from August 2024. There is no adjustment made for normal seasonal variations in this alteration. “Applications for new home purchases declined in September, consistent with seasonal patterns, and continued to run ahead of last year’s pace,” said Jo
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Housing Wire
OCTOBER 17, 2024
Wall Street investors and analysts forecast that mortgage credit-score costs will rise in 2025 as lower interest rates may drive an increase in home loan applications. Fair Isaac Corp. (FICO), the company that retains the rights to the market’s widely adopted consumer credit-risk assessment methodology, is expected to raise the price for mortgage credit scores from $3.50 to at least $5, according to the estimates.
Appraisal Buzz
OCTOBER 17, 2024
The October 2024 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group revealed that the economy now looks to be on firmer footing than previously thought, following annual revisions to the national accounts and an improvement in payroll employment growth in both August and September. The ESR Group still anticipates a slowdown in economic growth from the strong 3.2% pace seen in 2023, but it will be less severe than previously anticipated.
Housing Wire
OCTOBER 17, 2024
As an entrepreneur, Mauricio Umansky has displayed remarkable versatility. At just 26 years old, he launched the clothing brand 90265, which pioneered a number of fashion trends. In 2011, he founded the innovative brokerage The Agency RE, and he recently launched a real estate agent trade group that aims to serve as an alternative to the National Association of Realtors (NAR).
Real Estate News
OCTOBER 17, 2024
The DANGER Report took a “frank and sometimes searing” look at the risks facing agents, brokers, associations, MLSs and the National Association of Realtors.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
OCTOBER 17, 2024
Mortgage rates moved up again, but for the market as a whole, “the worst may be behind us.” Plus, improving builder optimism could mean more future supply.
Housing Wire
OCTOBER 17, 2024
Former Open Mortgage executive Brenda Hedeen has been hired by Utah-based Canopy Mortgage as its new chief financial officer. “I was delighted when they reached out as I’ve had my eye on this group for years … they have it all: Techcentric, innovative, cost-effective, amazing culture, truly transparent pricing, engaged leadership and outstanding retail model.
Real Estate News
OCTOBER 17, 2024
In a livestream presentation, Anywhere’s Sue Yannaccone warned of misinformation around Clear Cooperation and encouraged agents to share their views.
Housing Wire
OCTOBER 17, 2024
What is one of the largest fines you think a housing provider—like landlords, condo HOAs/boards, and state and local housing authority offices—has had to pay due to turning away emotional support and service animals? $2,500 $35,000 $1 Million If you guessed one million dollars, then kudos to you, yet the real winners when it comes to fair housing laws are those who uphold them.
Appraisal Buzz
OCTOBER 17, 2024
For decades, America’s Rust Belt was synonymous with industrial decline, but a resurgence is now underway. While recovery varies across the region, recent data and case studies by CommercialCafe indicate meaningful improvements in population growth, unemployment, poverty reduction, and real estate expansion. Key Findings in Larger Cities In Rust Belt cities with over 200,000 residents, Madison, Wisconsin, and Buffalo, New York, led the way.
Housing Wire
OCTOBER 17, 2024
The list of brokerages that have settled the commission lawsuits is getting longer. On Wednesday, Higher Tech Realty , dba Mark Spain Real Estate , filed a notice informing the U.S. District Court in Atlanta that it had reached a nationwide settlement of the commission lawsuits with the plaintiffs in the Phillips suit. Neither the terms of the settlement or the settlement amount have been disclosed.
Appraisal Buzz
OCTOBER 17, 2024
ATTOM has released its Q3 2024 U.S. Home Sales Report , which shows that homeowners earned a 55.6% profit margin on typical single-family home and condo sales. That figure was down by small amounts both quarterly and annually, dipping by one percentage point from Q2 of 2024 and two points from Q3 of last year. The nationwide investment return ticked downward as home-price spikes that had buoyed the housing market during the spring of this year flattened out, leaving the U.S. median home value vi
Housing Wire
OCTOBER 17, 2024
The Agency founder Mauricio Umansky doesn’t think that the game of “musical chairs” that is agent recruiting is good for the real estate industry, but this week his company can tally a win. Dallas -based luxury real estate agents Courtney Michalek and Andrea Childress have joined The Agency to bolster the brokerage’s Dallas office, which was launched by Megan and Damon Williamson in January 2023.
Appraisal Buzz
OCTOBER 17, 2024
Mortgage rates continued to rise this week, with the average rate for a 30-year fixed-rate mortgage at 6.44%, up from 6.32% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 7.63%. “The 30-year fixed-rate mortgage increased for the third consecutive week, moving closer to 6.5 percent,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Housing Wire
OCTOBER 17, 2024
The North Carolina Regional Multiple Listing Service (NCRMLS) is making a move to foster connectivity between real estate agents and consumers. NCRMLS — a wholesale cooperative MLS founded in 2016 — has announced its plans to rebrand to Hive MLS in conjunction with Hive Solutions. Hive MLS will charge member associations and MLSs wholesale fees to access their data.
Appraisal Buzz
OCTOBER 17, 2024
Applications for mortgages for new home purchases increased 6% in September compared with August and were up 10.8% compared with September 2023, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey. “Applications for new home purchases declined in September, consistent with seasonal patterns, and continued to run ahead of last year’s pace,” says Joel Kan, vice president and deputy chief economist for the MBA, in a statement.
Housing Wire
OCTOBER 17, 2024
Better Home & Finance, the parent company of digital lender Better.com , launched its voice-based artificial intelligence loan assistant on Thursday. According to the company, the assistant provides customers with “timely and accurate answers.” The AI loan assistant, dubbed Betsy, was built through Tinman, the company’s proprietary loan origination platform, where information and facts on loan applications are stored.
Inman
OCTOBER 17, 2024
Fannie Mae economists say surprising strength of the U.S. economy means home prices are likely to keep rising, and mortgage rates may not come down as quickly as previously expected.
Housing Wire
OCTOBER 17, 2024
Guild Mortgage announced on Thursday that it has hired Nora Guerra, who worked at Freddie Mac for more than five years, as its senior vice president of community lending solutions. A mortgage industry veteran with over 25 years of experience, Guerra has recently served as senior manager of national affordable lending at Freddie Mac, joining the government-sponsored (GSE) enterprise in 2019.
Inman
OCTOBER 17, 2024
Alfonso M. Dyson moonlighted as a real estate agent in Annapolis, Maryland, while he was second-in-command of the Secret Service's uniformed division. After he was promoted to chief, his subordinates who had done real estate business with him were also promoted.
Housing Wire
OCTOBER 17, 2024
LenderLogix , a provider of mortgage point-of-sale and automation software for lenders, said that borrowers generated 49,392 preapproval letters through its QuickQual preapproval program in third-quarter 2024, a 15% decrease from the second quarter. The average number of preapproved borrowers per loan officer decreased slightly to 28.5 in the third quarter, down from 29 in Q2 2024, the company said in its quarterly Homebuyer Intelligence report.
Inman
OCTOBER 17, 2024
This shift in strategy reflects a growing need for more affordable and space-efficient housing options amid rising costs and limited land availability, according to a new analysis from Zillow released Thursday.
Eyes on Housing
OCTOBER 17, 2024
With inflation gradually easing and builders anticipating mortgage rates will moderate in coming months, builder sentiment moved higher for a second consecutive month despite challenging affordability conditions. Builder confidence in the market for newly built single-family homes was 43 in October, up two points from a reading of 41 in September, according to the National.
Inman
OCTOBER 17, 2024
The deal, one of the city’s largest this year, involves 1,000 units and more than 60 buildings across Upper Manhattan in New York City. Part of the portfolio closed Wednesday, according to reports.
Advanced Appraisal
OCTOBER 17, 2024
Single Family home appraisals, house appraisals, 2-4 Units, Condos, Located in the Tinley Park, Mokena and Frankfort Area. We are also experts in Multi Family Apartment Buildings, Mixed Use, Small Commercial properties and Vacant land for all purposes. We offer private listing, Assessment Appeal, Bankruptcy, Divorce, Estate, Trust, partnership dispersion, Probate, and Indemnity Cases.
Inman
OCTOBER 17, 2024
Inflation, combined with September’s strong jobs report, suggests that the Fed might be rethinking how quickly to cut the Federal Funds Rate, says Windermere’s Principal Economist Jeff Tucker.
BiggerPockets
OCTOBER 17, 2024
While short-term rentals are seeing slowing demand, mid-term rentals are taking off (and fast).
Inman
OCTOBER 17, 2024
The mobile-forward fintech company that marries real estate investment search and analysis with streamlined financing has raised a $184 million through two private credit funds, one a $30M of equity, the other is asset-backed financing of $154 million.
Mortgagebroker News
OCTOBER 17, 2024
Majority are waiting for deeper rate reductions or better conditions
Inman
OCTOBER 17, 2024
Find out how this Raleigh, North Carolina, broker leans on relationships and mentoring to differentiate her service and create genuine connections.
Mortgagebroker News
OCTOBER 17, 2024
Executive talks pioneering approach
Inman
OCTOBER 17, 2024
While we often focus on individual accomplishment, Carl Medford writes, don't sleep on the power and potential of an effective partnership for achieving your goals.
Mortgagebroker News
OCTOBER 17, 2024
CMP names the industry’s top 50 female trailblazers
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