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Mortgage lending in the U.S. dropped by 6.7% in the first quarter of 2024 to 1.28 million mortgages secured by residential property, the 11th drop recorded in the past 12 quarters and the lowest level since the year 2000, according to the newest U.S. Residential Property Mortgage Origination Report compiled by data provider Attom. This decline contributed to a 4.8% reduction in residential lending activity compared to first-quarter 2023 and a 69.3% reduction since reaching a high point in 2021,
Cash buyers are really showing up. They are the X factor this year to explain the bump in volume we’ve seen compared to last year. Today, I have some really cool stats to unpack what is happening in nine local counties. If you’re not in Sacramento, is this happening in your area too? UPCOMING SPEAKING […] The post Cash buyers are the X factor in 2024 first appeared on Sacramento Appraisal Blog.
Relitix’s latest release of the Agent Movement Index (AMI) for April 2024 reveals a surprising shift in the dynamics of real estate agents , indicating potential changes in market conditions and strategies among brokerages. Key Highlights from April 2024 AMI: Rise in Active Agents: The data show an unexpected increase in the number of active real estate agents.
Following a 6.6% rise in 2023, a panel of housing experts predicts annual national home price growth of 4.3% in 2024 and 3.2% in 2025, according to the Q2 2024 Fannie Mae Home Price Expectations Survey (HPES) —conducted in collaboration with Pulsenomics, LLC. The HPES polls more than 100 experts from the housing and mortgage industries, as well as academia, to estimate national home price percentage increases over the next five calendar years, as measured by the Fannie Mae Home Price Index (FNM-
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.
Doug Duncan , the chief economist at Fannie Mae , believes pressures from fiscal and monetary policy have brought volatility to the secondary mortgage market, creating a “higher-for-longer” scenario in the U.S. economy that mortgage companies should be ready to face. “Every indicator that comes out, the market judges which way would the Fed move with it.
Watch the conversation with industry news leader Mitch Robinson as he offers advice for working with local news outlets to “tell your story in a proactive way.
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Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Watch the conversation with industry news leader Mitch Robinson as he offers advice for working with local news outlets to “tell your story in a proactive way.
A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). The Berkeley-based Community Planning Collaborative (CPC), a self-described “housing policy and ADU resource leader,” will start rolling out its ADU Plans Gallery this month.
The Real Brokerage announced Thursday the addition of several new teams across the U.S. last month as the publicly traded company pushed its agent count above 19,000. The newly released 2024 RealTrends Verified rankings , based on 2023 data, showed that Real was the sixth-largest brokerage in the country for sides (48,905) and ranked No. 10 for sales volume ($21.2 billion).
Despite an increase in supply, affordability continues to keep many buyers on the sidelines, and rates aren’t expected to fall significantly this year.
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.
Mortgage credit availability saw a slight increase in May, according to an analysis of ICE Mortgage Technology data by the Mortgage Bankers Association (MBA). The Mortgage Credit Availability Index (MCAI) rose by 0.1% to 94.1 in May. The index was initially benchmarked to 100 in 2012. The MCAI measures how tight or loose lending standards are in any given month.
The Consumer Financial Protection Bureau (CFPB) has finalized a rule outlining the qualifications to become a recognized industry standard setting body, which can issue standards that companies can use to help them comply with the CFPB’s upcoming Personal Financial Data Rights Rule. The new rule identifies the attributes that standard setting bodies must demonstrate in order to be recognized by the CFPB.
Just over a year after its further expansion into the reverse mortgage business, multichannel mortgage lender Guaranteed Rate has focused on bringing a wider swath of mortgage industry professionals up to speed with the dynamics of reverse , a trend that has unfolded in other parts of the industry as more forward lenders have expressed interest in the space.
Mortgage credit availability increased 0.1% in May compared with April, rising to a score of 94.1 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). Despite the slight increase, mortgage credit remains very tight by historical standards. A decline in the MCAI indicates that lending standards are tightening, while increases are indicative of loosening credit.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Bond credit-rating organization Moody’s Investors Service has reaffirmed its “above-average” rating for the reverse mortgage servicing performance of Celink , which is the current holder of the U.S. Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) servicing contract and is a HECM subservicer for several major lenders.
According to the Residential Property Mortgage Origination Report from ATTOM Data, there were a total of 1.28 million mortgages originated during the first quarter of 2024, representating a 6.8% decline from the previous quarter. The drop-off marked the 11th in the last 12 quarters, to the lowest level since 2000. In addition, this number left total residential lending activity down 4.8% year-over-year, and down 69.3% from the originations peak which occurred in 2021.
I walked a few blocks from our Manhattan office to the Wall Street Journal to be interviewed for their digital piece on how to think about renovations in a home and their contribution to value. The home was located in Coeur d’Alene, Idaho. I get to provide sage advice from an appraiser’s perspective. The post [WSJ Digital] The Total Renovations Behind This Home’s $1.8M Listing Price first appeared on Miller Samuel Real Estate Appraisers & Consultants.
Despite higher mortgage rates, limited resale inventory and strong growth in demand continued to put upward pressure on house price appreciation. House price appreciation was recorded in all 50 states and the District of Columbia. According to the quarterly all-transactions House Price Index (HPI) released by the Federal Housing Finance Agency (FHFA), U.S. house prices.
According to the Mortgage Bankers Association’s (MBA) Q1 Commercial Delinquency Report , commercial mortgage delinquencies increased in the first quarter of the year, strained by mortgage rates in the 7% range, and a tightening of credit standards. “Commercial mortgage delinquency rates continued to increase during the first three months of 2024,” said Jamie Woodwell, MBA’s Head of Commercial Real Estate Research.
On May 18, 2024, The Ruth Cheatham Foundation (TRCF) , a national nonprofit providing support to teens impacted by cancer founded by Doug and Lindsay Whittmore, held its Annual Gala for Teen Cancer Survivors at the Fairmont Hotel in Dallas—hosted by emcee Sam Gannon—to award scholarships and financial aid to teen cancer fighters and survivors to help further their education.
Realtors can now add information to help potential buyers search for homes that might meet their mobility needs. The new fields were added to the Nova Scotia MLS on Wednesday.
More mortgage borrowers facing longer-term hardships will be able to achieve meaningful payment reductions as a result of recent enhancements to Fannie Mae and Freddie Mac’s Flex Modification policies. Fannie Mae and Freddie Mac have completed more than half a million modifications through their Flex Modification offerings since they were implemented in 2017, according to the Federal Housing Finance Agency , regulator of Fannie and Freddie.
The National Association of Realtors' Instragram post highlighting Pride Month has garnered nearly 900 comments — the majority of them against the LGBTQ+ community. The LGBTQ+ Real Estate Alliance has called on NAR to control the comments section and reprimand Realtors who've made discriminatory statements.
Mortgage rates dipped this week, with the average rate for a 30-year fixed-rate mortgage dropping to 6.99%, down from 7.03% 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 6.71%. “Mortgage rates retreated this week given incoming data showing slower growth,” says Sam Khater, chief economist for Freddie Mac, in a statement.
The design company's generative AI and 3D tech will now be available to 250 Christie's International Real Estate Masters Circle agents in the U.S. and all 3,500 agents affiliated with @properties.
Plaintiffs' lawyer Michael Ketchmark vowed legal action to enforce deal: "Anyone who thinks they can send a few emails or bury their head in the sand and avoid the application of the law is wrong.
Do you need some tough love to get you moving forward in your real estate business? Jimmy Burgess shares the advice that's helped him achieve the greatest success in his career.
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