Housing Wire
SEPTEMBER 26, 2024
The question from the housing industry after the Federal Reserve ’s half-point interest rate cut is simple — will this bring buyers back to the stalled housing market? A new report from Redfin suggests that it is already happening. The company analyzed mortgage rate-lock data from Optimal Blue and found that locks have risen 68% this week compared to one month earlier.
Appraisal Buzz
SEPTEMBER 26, 2024
The 21 st Five Star Conference marked its final day on Thursday with the tradition of the Women in Housing Leadership Awards, an annual presentation recognizing the remarkable accomplishments of women executives working within the mortgage and housing industries. Following brief welcome remarks from Ali Haralson, President of Auction.com (which was Lead Sponsor of the luncheon), the ceremony was emceed by Jodi Gaines, CEO of Claims Recovery Financial Services.
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Housing Wire
SEPTEMBER 26, 2024
Elevated mortgage rates have strained housing affordability for more than two years. With rates now falling — and more downward movement expected after the Federal Reserve ‘s recent interest rate cut — two new reports suggest that affordability is getting better too. The third-quarter 2024 housing affordability report from Attom says that falling mortgage rates, rising wages and slower home-price growth has made the expenses of buying and owning a home slightly more affordable.
Appraisal Buzz
SEPTEMBER 26, 2024
According to the National Association of Realtors (NAR) , pending home sales in August 2024 rose 0.6%, with the Midwest, South, and West posting monthly gains in transactions, and the Northeast recording a loss. Year-over-year, the West registered growth, but the Northeast, Midwest, and South declined. NAR’s Pending Home Sales Index (PHSI) is a forward-looking indicator of home sales based on contract signings, ad increased to 70.6 in August.
Housing Wire
SEPTEMBER 26, 2024
The American dream of homeownership is slipping away for many, as the gap between wages and home prices continues to widen. In the 1970s, home prices aligned more closely with income levels. Today, escalating real estate costs—particularly in high-cost areas—are pricing millions of Americans out of the housing market. One potential solution? Extending the traditional 30-year mortgage to 40 or even 50 years.
Real Estate News
SEPTEMBER 26, 2024
While touring is up, mortgage purchase applications and pending sales are subdued. Inventory shows some promise but “extra stale” listings have increased.
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Real Estate News
SEPTEMBER 26, 2024
The new guide from the National Association of Realtors also explains how concessions (which can be used to pay an agent) differ from offers of compensation.
Housing Wire
SEPTEMBER 26, 2024
Homebuyers will soon have access to climate risk data on Zillow , according to an announcement on Thursday. Zillow is partnering with First Street to provide users with data on a property’s risk levels for flood , wildfire , wind, heat and air quality through risk scores, interactive maps and insights into insurance requirements. “Climate risks are now a critical factor in home-buying decisions,” Zillow chief economist Skylar Olsen said in a statement. “Healthy markets are ones where
Real Estate News
SEPTEMBER 26, 2024
The Rocky Mountain State revokes troubled brokerage’s license over 40-year right-to-list agreements as Minnesota joins 10 other states in filing suit.
Housing Wire
SEPTEMBER 26, 2024
As a vast majority of older adults prefer to remain in their current homes as they age, a key to successfully aging in place lies in preparation and adequate understanding of the dwelling, according to a new examination by the The Wall Street Journal. The report cited 2021 data from Harvard University ’s Joint Center for Housing Studies , which showed that nearly nine in 10 people age 65 and older lived in their own homes, but an ongoing issue relates to the homes themselves.
Appraisal Buzz
SEPTEMBER 26, 2024
The 2024 Five Star Conference at the Omni Hotel in Dallas concluded Thursday, and among the networking opportunities and closing Women in Housing Leadership Awards Luncheon , education was again on the agenda. A new addition to the Five Star Conference, Thursday morning’s NPL Forum , presented by Forum Lead Sponsor Altisource , tackled topics ranging from non-performing loans (NPLs), foreclosures, bankruptcy, and the buying and selling of distressed assets.
Housing Wire
SEPTEMBER 26, 2024
After hitting the second-lowest level on record in July , pending home sales rose slightly in August, according to data released Thursday by the National Association of Realtors (NAR). The Pending Home Sales Index rose 0.6% month over month in August to a reading of 70.6. A reading of 100 is equal to the level of contract activity in 2001. Despite the monthly increase, last month’s reading was still down 3% year over year.
Appraisal Buzz
SEPTEMBER 26, 2024
loanDepot National Director of Military Growth and Strategy Bryan Bergjans loanDepot Inc. has bolstered its strength in the Veterans Administration (VA) lending department with the appointment of U.S. Navy Veteran and VA lending expert Bryan Bergjans as National Director of Military Growth and Strategy. Bergjans, a highly respected national advocate for the military community, has nearly two decades of military experience and a passion to serve the active-duty military and veteran community.
Housing Wire
SEPTEMBER 26, 2024
New York-based Simplist Technologies , which has developed a consumer-facing mortgage platform, introduced a new software solution on Thursday for mortgage professionals that combines a loan origination system (LOS) with a point-of-sale system (POS). The integrated platform, known as Sonar , has artificial intelligence (AI) capabilities to automate rote tasks and speed up workflow processes.
Appraisal Buzz
SEPTEMBER 26, 2024
One of the highlights Wednesday afternoon of the Five Star Conference at the Omni Hotel in Dallas was the Mortgage Servicing Forum , an event that brought together top mortgage servicing executives and government representatives to discuss the challenges facing the industry, while determining the best paths forward. From loss mitigation to navigating compliance concerns and the potential industry impact in an uncertain election year, this year’s Mortgage Servicing Forum was presented by Forum Pa
Housing Wire
SEPTEMBER 26, 2024
Multiple listing services (MLSs) have a wealth of data, and one technology company thinks it has found an innovative way to use it. Real estate data company StreetWire has partnered with Northern California MLS MetroList to produce an insurance product called Home Value Lock. It’s designed to protect homeowners from declining home values. The coverage is good for three years after the closing date on a home purchase, and the insurance covers up to 10% of the original purchase price.
Appraisal Buzz
SEPTEMBER 26, 2024
The Federal Housing Finance Agency (FHFA) has revised its proposal to amend the Suspended Counterparty Program (SCP), which requires a regulated entity to report to FHFA if an individual or institution that it does business with has committed certain types of misconduct within the prior three years. It also authorizes FHFA to order its regulated entities to cease doing business or refrain from entering into new business with certain counterparties.
Housing Wire
SEPTEMBER 26, 2024
The Compass team in Austin is welcoming back one of its own. Luxury agent Mike Mogavero is returning to the brokerage after a stint with The Agency. Mogavero is also bringing Christen Lowe, his partner in the MOLO Group , with him. The pair topped $38.8 million in sales volume in 2023, with Mogavero accounting for $33.2 million of the total, according to RealTrends Verified.
Appraisal Buzz
SEPTEMBER 26, 2024
Pending home sales inched up 0.6% in August compared with July but were down 3% compared with August 2023, according to the National Association of Realtors (NAR). “A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5 percent in August,” says Lawrence Yun, chief economist for NAR, in a statement.
Inman
SEPTEMBER 26, 2024
An environment where the fed funds rate is being cut instead of raised has historically been better for the real estate industry. Now is the time for agents to become the resource for information and professionalism.
Appraisal Buzz
SEPTEMBER 26, 2024
Mortgage rates decreased to the lowest levels in two years this week, as the average rate for a 30-year, fixed-rate mortgage fell to 6.08%, down from 6.09% 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 7.31%. “Although this week’s decline was slight, the 30-year fixed-rate mortgage trended down to its lowest level in two years,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Inman
SEPTEMBER 26, 2024
Business has largely continued as usual with 63 percent of agents reporting that sellers are "frequently" covering buyer-broker commissions, according to a new Real Brokerage survey of 300 agents.
Appraisal Buzz
SEPTEMBER 26, 2024
The U.S. mortgage delinquency rate fell to 3.34% in August, dropping 0.9% compared with July but up 5.1% compared with August 2023, according to ICE Mortgage Technology’s First Look report. As of the end of the month, there were about 1.8 million properties 30 days or more past due but not in foreclosure – down about 11,000 compared with the previous month but up about 117,000 compared with a year ago.
Inman
SEPTEMBER 26, 2024
Rayse, which the company has positioned as a way of "pushing back against the settlements," is backed by Realtor associations, MLSs, brokerages and leaders, including co-CEO James Dwiggins.
Eyes on Housing
SEPTEMBER 26, 2024
Porches continue to rank as the most common outdoor feature on new homes, according to NAHB tabulation of the latest data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from HUD). Of the roughly 950,000 single-family homes started in 2023, the SOC data show that 67.7% were built with porches. This.
Inman
SEPTEMBER 26, 2024
Two companies in the pre-sale home renovation business, BOSSCAT and HouseAmp, agree to work together to streamline services.
Advanced Appraisal
SEPTEMBER 26, 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
SEPTEMBER 26, 2024
Whether you characterize them as "reasons" or "explanations," excuses undermine your credibility and weaken your intentions, trainer Bernice Ross writes. Find out how to stop making excuses so you can maximize your professional performance.
BiggerPockets
SEPTEMBER 26, 2024
The Fed’s recent rate cut signaled something clear about the US economy, but what are they trying to say?
Inman
SEPTEMBER 26, 2024
"NAR is about to get a wake up call," the Moreland Properties agent told Inman in an interview that touched on Austin's growing pains and NAR's future ahead of his talk at Connect Austin in October.
Mortgagebroker News
SEPTEMBER 26, 2024
Acute housing crisis remains despite new mortgage rule changes
Inman
SEPTEMBER 26, 2024
Learn more about this Indiana broker-owner, and find out about the "disastrous" experience that pushed her to get her real estate license and become a true residential expert.
Mortgagebroker News
SEPTEMBER 26, 2024
Homebuilders push officials to lower development charges and speed up permits
Inman
SEPTEMBER 26, 2024
When you're on the go, and using public Wi-Fi, you can open yourself up to security breaches. Security expert Robert Siciliano offers best practices for protecting yourself and your information.
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