Housing Wire
NOVEMBER 9, 2023
As 10-year Treasury yields tumbled, the average 30-year fixed mortgage fell 26 basis points in the week ending Nov. 9, the largest one-week decrease since last November. The 30-year, fixed mortgage averaged 7.5% as of Nov. 9, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.76% and up from 7.08% the same week a year ago.
Real Estate News
NOVEMBER 9, 2023
Mortgage rates took a dive this week, experiencing the largest one-week decline in a year.
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Housing Wire
NOVEMBER 9, 2023
A total of 2,256 homebuyer assistance programs are available in the U.S. housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Among the available homebuyer assistance programs were 295 that allow borrowers to lower their interest rates by paying an upfront fee, according to DPR’s homeownership program index report.
Real Estate News
NOVEMBER 9, 2023
Strong growth was the theme of the quarter despite a net loss. CEO Tamir Poleg also said he believed Real will come out ahead should commissions rules change.
Speaker: Timothy Allsopp
Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.
Housing Wire
NOVEMBER 9, 2023
In her first video appearance since the jury verdict in the Sitzer/Burnett commission lawsuit , National Association of Realtors president Tracy Kasper told NAR members that she shares their disappointment in the decision. “The jury reached an outcome that was neither supported by the law nor the facts that were presented in this case,” Kasper said in a video posted Thrusday.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
NOVEMBER 9, 2023
CoreLogic announced on Thursday the launch of “ScanToSketch,” an augmented reality (AR)-based property measuring and sketching tool to create home appraisal reports. Developed using CoreLogic’s appraisal software brand “a la mode,” the tool has been used to complete roughly 20,000 property sketches. So far, its data has been featured in over 12,000 appraisal reports, according to CoreLogic.
Inman
NOVEMBER 9, 2023
Realtor.com parent company Move Inc.'s revenue declined 16 percent to $142 million in the fiscal first quarter. Despite the loss, CEO Robert Thomson remained bullish about the portal's long-term prospects.
Housing Wire
NOVEMBER 9, 2023
Mr. Cooper Group announced on Thursday that certain systems it locked down in early November after a cyberattack have resumed operations. Still, the incident will bring additional costs to the company in the fourth quarter. On Oct. 31, Dallas-based Mr. Cooper disclosed that it had experienced a cybersecurity incident. An unauthorized third party accessed certain of its technology systems and customer data.
Eyes on Housing
NOVEMBER 9, 2023
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.4% of new and existing homes sold between the beginning of July and end of September.
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Housing Wire
NOVEMBER 9, 2023
For Regina Braga, the president of Res/Title, the verdict in the Sitzer/Burnett commission lawsuit did not come as a surprise. “We’ve definitely seen a movement in the last few years to be more ‘end-consumer friendly’ if you will — making sure that they are protected, not only in knowing their rights, but that they are protected from all the cost that is associated with the real estate transaction,” Braga said.
Inman
NOVEMBER 9, 2023
Some NAR staffers and members had called for Gland's resignation, alleging she allowed a toxic work environment to flourish.
Housing Wire
NOVEMBER 9, 2023
HousingWire Editor in Chief Sarah Wheeler sat down with Rick Arvielo, co-founder and CEO of New American Funding (NAF), to talk about AI, why he chose to start NAF Technology India and how to keep NAF innovative. This interview has been edited for length and clarity. Sarah Wheeler: New American Funding is known for building rather than buying technology.
Real Estate News
NOVEMBER 9, 2023
Tracey Kasper addressed Realtors in a video post, offering specific advice for working with buyers and sellers, and a look ahead to other legal actions.
Housing Wire
NOVEMBER 9, 2023
As mortgage rates hover around 8% for agency mortgages, lenders handling conventional mortgages are struggling to find business. But how are the non-QM lenders faring? According to Acra Lending CEO Keith Lind, the company is currently locking its pipeline at rates of about 9.25%. “Our pipeline is up about 24% since July and we’re going to fund almost 23% more loans in 2023 than we did in 2022,” he said.
Inman
NOVEMBER 9, 2023
The Blackstone Team is based in Providence and closed more than $95 million in sales volume last year. The team's move to Compass comes amid intense competition for top talent.
Housing Wire
NOVEMBER 9, 2023
In mid-October amidst ongoing controversy, the National Association of Realtors (NAR) announced it has changed its commission rule , also known as its Participation Rule. It now allows listing brokers to offer buyer brokers $0 in compensation when listing a home in any of the 500 Realtor-affiliated MLS s across the U.S. With the NAR playing a pivotal role in shaping the industry’s landscape, there are many opinions on what this new commission rule means — or doesn’t mean — for the legal i
Inman
NOVEMBER 9, 2023
More than 4 million homeowners send their mortgage payments to Mr. Cooper, but it's unclear how many had their data exposed as the company continues to investigate a breach discovered on Halloween.
Housing Wire
NOVEMBER 9, 2023
Redwood Trust and home equity fintech lender Point have closed on a $139 million bond secured by 1,577 home equity investment (HEI) contracts. The two companies issued the first-ever securitization backed entirely by HEIs in 2021, a bet that rising home-price appreciation can benefit consumers in the short-term and investors in the long-term. Point closed on its first bond issuance rated by DBRS Morningstar on Oct. 31.
Inman
NOVEMBER 9, 2023
Join Phil Stringer and take a deep dive into how AI is reshaping the industry and how you can implement helpful tools into your business for 2024 and beyond.
Housing Wire
NOVEMBER 9, 2023
Fannie Mae and Freddie Mac jointly announced this week that they have entered a new critical edit phase for their Uniform Closing Dataset (UCD) as of Nov. 6, informing lenders that they must address quality issues for “fatal data points” before delivering loans to either of the government-sponsored enterprises. The UCD is a reference file that lenders use to share key information about a mortgage loan with organizations like Fannie Mae and Freddie Mac, particularly about the Closing Disclosure (
Inman
NOVEMBER 9, 2023
Over the past few months, 34 agents have joined The Agency from Compass' Northern California offices. In total, The Agency has brought on 72 agents in the region over the course of 2023.
Housing Wire
NOVEMBER 9, 2023
Longtime National Association of Realtors’ (NAR) staff member Donna Gland has announced her retirement, according to an email sent by CEO Bob Goldberg to NAR members and obtained by HousingWire. Gland, who has been with the trade group for 38 years, most recently served as NAR’s head of talent development and resources. She will officially leave NAR at the end of the calendar year.
Inman
NOVEMBER 9, 2023
While transactions fell 15 percent from 2022, Fathom executives said during a Q3 earnings call Wednesday that its flat fee commission split model helped its agent network grow by 13 percent.
Housing Wire
NOVEMBER 9, 2023
New York-based digital lender Better Home & Finance Holding Company has partnered with information technology consulting company Infosys on a mortgage-as-a-service platform. The integrated end-to-end digital mortgage white-labeled platform aims to cut origination costs and helps partners limit operational volatility in the current interest rate environment, Better said Thursday in announcing the launch.
Inman
NOVEMBER 9, 2023
The Australian image marketing company is the latest preferred partner of LeadingRE’s Solutions Group, a body of vendors chosen to represent a wide range of technologies and service providers.
Housing Wire
NOVEMBER 9, 2023
Jeff Whiteside, eXp World Holdings ’ chief financial officer, has stepped down from his position, the company announced on Thursday. The brokerage already initiated a search process to find a replacement. Meanwhile, Whiteside, who was CFO for five years, will stay at the company until Dec. 1 to support the transition. Until a new CFO is appointed, Kent Cheng, eXp World Holdings ’ chief accounting officer, will serve as the eXp’s principal financial officer, the company said in a statement. ̶
Inman
NOVEMBER 9, 2023
In its war to grab market share from the hotel industry, Airbnb rolls out features that seek to take out the surprises that can come at check-in.
BiggerPockets
NOVEMBER 9, 2023
Today, we’re sharing the five best vacation rental markets that’ll make you more money than anywhere else in the US. The best news?
Inman
NOVEMBER 9, 2023
RealStat is a new interface from Revaluate, the company recognized for its ability to predict the potential that a homeowner will list their property.
BiggerPockets
NOVEMBER 9, 2023
When someone passes away without leaving a will, the estate must go through the probate process to determine heirs, settle outstanding debts, and distribute any remaining assets. The laws on how intestate properties are handled vary by state.
Inman
NOVEMBER 9, 2023
Following a multiyear legal battle, Judge Joseph Lipner ruled that Carl Westcott presented "no credible evidence" that he lacked the mental capacity to sign the deal with Perry and Bloom in 2020.
BiggerPockets
NOVEMBER 9, 2023
Understanding your debt-to-income (DTI) ratio is crucial for making wise investment decisions. Your DTI impacts your ability to qualify for loans, lock in low interest rates, and take advantage of the best financial deals. A high DTI ratio means you are carrying a lot of debt and are a potential risk to lenders.
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