Housing Wire
JULY 9, 2024
Mortgage rates held steady over the past week despite recent signs of relief from the labor market, according to HousingWire’s Mortgage Rates Center. In large part because of the lack of clarity as to when the Federal Reserve will begin cutting the benchmark rate, mortgage rates remained above the 7% level. The average 30-year rate for conforming loans sat at 7.11% on Tuesday, unchanged from one week ago.
Appraisal Buzz
JULY 9, 2024
The number of homes currently for sale increased for an eighth consecutive month in June, rising by 36.7% year-over-year, according to Realtor.com June housing data. The median home also spent 45 days on the market, an increase of two days over the previous year. The market is trending slightly in the direction of becoming more buyer-friendly thanks to these factors.
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Housing Wire
JULY 9, 2024
Fast-growing firm The Real Brokerage is celebrating its 10 th anniversary by announcing that it has surpassed 20,000 agents. In an announcement on Tuesday, the firm said it has added roughly 1,000 agents per month throughout the first half of 2024. “I can’t tell you what an amazing feeling it is to reach this milestone. Thank you to our agents and Real employees who come to work each day committed to creating a different type of real estate experience.
Appraisal Buzz
JULY 9, 2024
However, over a third of Americans are in financial distress, according to LendingTree ‘s 2024 Household Financial Insecurity Report. We looked into the challenges Americans face in covering typical household expenses, such as food, housing, and medicine, using data from the U.S. Census Bureau Household Pulse Survey. We discovered that financial insecurity has increased 6.7% since 2022, and it has increased to 25.0% among the youngest demographic (18 to 24).
Advertiser: Trellis
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.
Housing Wire
JULY 9, 2024
Massachusetts -based Lamacchia Realty is continuing its expansion. The brokerage announced Tuesday that it has acquired Dalton, Massachusetts-based Berkshire Dream Home for an undisclosed sum. Berkshire Dream Home was founded in 2014 by Andy and Sarah Perenick. According to the release, in was the top firm in Berkshire County for transaction sides in 2022 and 2023.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
JULY 9, 2024
Residential sale-leaseback platform EasyKnock continues to face scrutiny from state regulators and is now under fire from disgruntled consumers. As of early July, the firm was facing consumer lawsuits in Texas, Maryland, South Carolina, Pennsylvania and Ohio, and actions from state regulators in Massachusetts, Michigan and Connecticut. The increased interest in EasyKnock began in December of 2023 , when Massachusetts Attorney General Andrea Joy Campbell announced that she had entered into a sett
Real Estate News
JULY 9, 2024
Eric Elfman took the helm at the proptech giant in June and is ready to take on competitors, go deeper with AI and “get back to customer-centricity.
Housing Wire
JULY 9, 2024
I am always amazed at the things people do to make a good living. I mean this in the most open and generous way: My own skill set is limited — as is my imagination — so when I meet people who do things far afield of what I do, I am eager to learn. I am also somewhat in awe at those who can excel at things at which I’d surely fail. Just this week, I have spent time with successful people in the following pursuits: Technology consulting, software development, real estate sales, building construct
Real Estate News
JULY 9, 2024
BBB’s ad division sides with Realtor.com challenges to Homes.com traffic claims — the latest twist in the hard-fought battle for the No. 2 spot in home search.
Speaker: Dylan Secrest
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.
Housing Wire
JULY 9, 2024
Nominations for the 2024 HousingWire Vanguards award are open throughout the month of July. To celebrate the industry’s most prestigious award for c-suite execs in mortgage and real estate, HousingWire reached out to some of last year’s honorees to hear more about their current priorities and asked the question: What are you focusing your energy on in 2024?
Real Estate News
JULY 9, 2024
A new statement takes aim at “misinformation and concern” surrounding the proposed sale of REcolorado and provides details on the buyer and his intentions.
Housing Wire
JULY 9, 2024
In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. While this is counterintuitive, one must often think about reverse mortgages in…well, reverse. Of course, the reason for this is because the unused principal with an adjustable-rate Home Equity Conversion Mortgage (HECM) grows at the same rate that is applied to the loan balance.
Inman
JULY 9, 2024
The publicly traded real estate brokerage reached the milestone on its 10th anniversary and set its sights on a closing-bell celebration at the Nasdaq exchange Tuesday afternoon.
Advertiser: Trellis
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Housing Wire
JULY 9, 2024
Over a quarter (26%) of retired investors continue to pay off their mortgage, and precisely one-quarter of the cohort are continuing to pay down credit card debt, according to a new survey from the Nationwide Retirement Institute. The U.S. retirement population is getting older at a faster rate and are also confronted with inflation as an impediment to making ends meet.
Inman
JULY 9, 2024
The deal marks the seventh purchase in 12 months for Massachusetts-based Lamacchia Realty as it signals acquisitions across New England in 2025. "I want to triple that in the next 12," CEO says.
Housing Wire
JULY 9, 2024
CoStar Group is withdrawing two of its Homes.com advertising campaigns after two Fast-Track SWIFT rulings from the Better Business Bureau’s (BBB) National Programs National Advertising Division. The two challenges were brought by Move, Inc., the parent company of rival Realtor.com. Fast-Track SWIFT is an expedited process for single-issue advertising cases brought to the National Advertising Division (NAD).
Inman
JULY 9, 2024
The thing holding many local MLSs in place is a desire for power and control rather than seeking the best for real estate agents and brokers, writes Mainframe Real Estate founder Sean Frank.
Housing Wire
JULY 9, 2024
The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, an updated version of the scoring system using trended credit bureau data. “[M]ember financial institutions can now pledge mortgage collateral using VantageScore credit scores as an alternative to the Classic FICO credit score model,” the announcement said.
Inman
JULY 9, 2024
RentRedi's Ryan Barone offers strategies for branding and marketing rental properties across a variety of digital platforms.
Housing Wire
JULY 9, 2024
As expected, Federal Reserve Chairman Jerome Powell did not set a timeline for lowering interest rates during his semiannual monetary policy report to Congress on Tuesday morning when participants complained about the effects of a tightening monetary policy in the housing market. Powell indicated that Fed officials are not there yet, but suggested a better balance of inflation and employment in the U.S. economy.
Appraisal Buzz
JULY 9, 2024
Brandon Hall has joined Informative Research , a provider of data-driven solutions to the lending community, as executive vice president (EVP) of operations. Hall has more than 20 years of experience driving operational excellence within the financial services sector and is known for implementing innovative process improvements, fostering cross-functional collaboration and leading through change.
Inman
JULY 9, 2024
In his six months as president, Sears has racked up time in Washington with the DOJ, focused on the trade organization's future and traveled — a lot. He shared his takeaways with Inman ahead of ICLV.
Appraisal Buzz
JULY 9, 2024
The Five Star Academy (FSA) is an independent certification program with courses written by housing and mortgage industry experts. FSA features educational offerings covering regulatory compliance, legal practice, diversity and inclusion, and distressed asset disposition in an easy-to-use online format. FSA has announced that it is offering a 30% discount on their educational offerings through Friday, July 19.
Inman
JULY 9, 2024
In this luxury case study, learn how The Agency's Daniel Blatman overcame multiple offers and a short timeline to help his clients meet their goals.
Appraisal Buzz
JULY 9, 2024
Guaranteed Rate is undergoing a major rebranding to reflect the company’s commitment to innovation in the fintech and mortgage industries. The company is dropping the word “Guaranteed” from its name and moving forward will be known simply as “Rate.” “Rate’s rebrand is more than just a name change; it represents a new era of growth and innovation,” says Victor Ciardelli, CEO of Rate, in a release.
Inman
JULY 9, 2024
After cutting nearly 500 jobs after Computershare acquisition, lender to eliminate another 277 positions in August, including senior executives in Colorado, Arizona and Florida.
Appraisal Buzz
JULY 9, 2024
While a majority of U.S. homeowners with mortgages continue to be locked into rates below 5%, the share with rates above 5% is growing steadily. As of May, 24% of homeowners with mortgages had a current interest rate of 5% or higher, according to ICE Mortgage Technology’s July 2024 Mortgage Monitor Report. “As recently as two years ago an astonishing nine of every 10 mortgage holders were below that threshold,” says Andy Walden, vice president of research and analysis for ICE, in the report.
Inman
JULY 9, 2024
The future of real estate lies in our industry's ability to innovate, adapt and align our brands with the evolving market landscape, PR and marketing expert Molly McKinley writes.
Appraisal Buzz
JULY 9, 2024
The affordability crunch plaguing home buyers is likely to persist through the end of 2024, First American says in its latest Real House Price Index report. “At the beginning of the year, we predicted affordability may end 2024 modestly higher than at the end of 2023,” says Mark Fleming, chief economist for First American, in the report. “This forecast was based on the industry consensus at the time that mortgage rates would fall to 6.25 percent and house prices would slow to 3.7 percent by the
Inman
JULY 9, 2024
Rising interest rates and market saturation have caused multifamily builders to slow the rate of new projects, according to a Redfin report published on Tuesday. Between 2021 and 2023, builders filed an average of 18 permits to build multifamily housing units for every 10,000 people in the U.S. However, that number has dropped to an average of 13 permits as of May 2024.
Appraisal Buzz
JULY 9, 2024
Chevron Federal Credit Union is now using the Blue Sage Digital Lending Platform to deliver a better borrower experience. With Blue Sage’s LOS and LION Consumer POS, the credit union is able to offer its members a seamless, secure and speedy mortgage experience from any device. In addition, it will gain new operational efficiencies throughout its entire loan origination process.
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