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).
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.
Appraisal Buzz
JULY 9, 2024
Grenada. The Yucatan. Texas. Hurricane Beryl tore through the Atlantic on a track that took it through the southern Lesser Antilles making its first landfall as a Category 4 on the island nation of Grenada, continuing south of Cuba until it made it’s second landfall as a Category 2 when it hit the Yucatan Peninsula finally making its final landfall at Matagorda, Texas as a Category 1 storm.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
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.
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
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
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.
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
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.
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.
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.
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
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.
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
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.
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
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 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
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.
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.
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.
Eyes on Housing
JULY 9, 2024
The Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, increased by 8.2% on a seasonally adjusted (SA) basis from May to June. In comparison to June 2023, the index is up by 1.0%. The Purchase and Refinance indices, over the month, are up by 4.1%.
Inman
JULY 9, 2024
Professionalism (or a lack thereof) is important everywhere — on social media, on the phone and face-to-face, but which agents are putting their worst out into the world?
GoForrmz
JULY 9, 2024
GoFormz is full of features and functionalities that can streamline processes – did you miss these? Are you seeking an easy way to streamline your form-filling experience or create more efficient digital forms? GoFormz offers a wealth of features and functionalities to enhance the digital experience of completing forms. Among these, four standout features can be incorporated into your digital forms today to strengthen data integrity, improve the form-filling process, and streamline data collecti
Inman
JULY 9, 2024
RentRedi's Ryan Barone offers strategies for branding and marketing rental properties across a variety of digital platforms.
Lamacchia Realty
JULY 9, 2024
Lamacchia Realty is happy to officially announce that Berkshire Dream Home has joined the company. This great brokerage owned by Andy and Sarah Perenick serves all of the Berkshires of Western Massachusetts with a main office at 2 Depot St Dalton, MA. Berkshire Dream Home was the number one company in Berkshire County for the most real estate sales transactions in both 2022 and 2023 selling well over 300 homes each year.
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.
Lamacchia Realty
JULY 9, 2024
For the fourth year in a row, Lamacchia Realty has officially been named among RealTrends GameChangers! The professionals on this list are considered to be changing the game of real estate, as showcased through high growth rates. The qualifiers for GameChangers are chosen based on five-year transaction side percentage data from the RealTrends 500. Lamacchia Realty ranked #15 in growth among the fastest-growing private independent brokerages.
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.
Lamacchia Realty
JULY 9, 2024
Sears Real Estate/Lamacchia Realty Springfield Broker Associate and NAR President, Kevin Sears , was recently interviewed by Inman. In it, Kevin discusses his presidency of the National Association of REALTORS®, the DOJ, and more! To read the full interview , click here or on the image to the right. Additional Press Anthony Lamacchia Highlighted as “An Outspoken Voice for the Real Estate Industry” in a New Article from MSN July 5, 2024 Read More » Lamacchia Luxury Listing is Named B
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.
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