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Mortgage rates are falling today as the CPI inflation data came in lighter than anticipated. The shelter side of the equation was a big help in today’s report. The financial markets’ dynamism was evident in the immediate reaction to the 10-year yield, which had a waterfall dive to a key critical level of around 4.20%, as shown below. With the labor market showing signs of softening and the Federal Reserve expressing concerns, the possibility of our first-rate cut in 2024 looms.
The Mortgage Credit Availability Index (MCAI), a survey from the Mortgage Bankers Association (MBA) that examines information from ICE Mortgage Technology, indicates that mortgage credit availability rose in June. In June, the MCAI increased by 1.0% to 95.0. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.
The efficiency and reliability of property appraisals are the linchpin to the success of a steady flow of mortgage transactions. Opteon, a leader in the appraisal and property valuation industry, utilizes their tech-enabled service fulfillment to streamline and enhance the appraisal process. At the heart of these efforts are their advanced data collection initiatives and the utilization of their all-in-one tech ecosystem for order management and field report submissions.
ATTOM Data has released its Midyear 2024 U.S. Foreclosure Market Report which shows that 117,431 residential properties had some sort of foreclosure filing against them—be it a default notice, an auction, or a bank repossession—during the first six months of the year. The 117,000-some-odd adverse actions that were taken during the first half of the year is down 4.4% from the same time period last year but is up 7.8% from two years ago.
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.
RE/MAX is expanding its footprint in Salt Lake City with the acquisition of a 60-agent team. Stratus Real Estate Solutions is rebranding as RE/MAX Stratus. Owner Ernad Mehinovic believes that the support of RE/MAX will help his team boost its business. “RE/MAX has the tools and systems and resources that agents need in today’s real estate environment,” Mehinovic said in a statement.
Despite concerns from housing and mortgage industry trade groups, the Federal Housing Finance Agency (FHFA) on Thursday announced the release of VantageScore 4.0 historic credit data, a step that is designed to ease the transition to new credit reporting requirements by the end of next year. The datasets released Wednesday are tied to single-family mortgages purchased by Fannie Mae and Freddie Mac from April 2013 through March 2023.
Fintech firms Rocktop Technologies and LiquidFi on Thursday announced a milestone in their business partnership that was formed earlier this year. Rocktop — a software-as-a-service (SaaS) company that works to improve yields for institutional investors , asset managers and other participants in the fixed-income and mortgage markets — has now placed more than $60 billion in unpaid principal balance (UPB) on its data management platform.
Watch the conversation with Ed Zorn as he explains why agents don’t need to panic come Aug. 17, but they do need to hone their pitch — and negotiation skills.
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.
A wide-ranging and multigenerational survey about retirement confidence in the U.S. found that while general confidence has risen over the past year, most Americans remain concerned that their savings will not be able to keep up with their needs in retirement. The Read on Retirement survey, conducted by BlackRock , enlisted perspectives from members of the millennial , Gen X and baby boomer generations.
Cenlar FSB EVP and COO Leslie Peeler Ewing, New Jersey-based mortgage subservicer Cenlar FSB has announced that Leslie Peeler has been appointed EVP and COO. “With more than 20 years of experience transforming organizational productivity, efficiency and profitability, Leslie is an exceptional leader who will help drive the long-term success of Cenlar,” said Cenlar President and CEO David Schneider.
The Consumer Financial Protection Bureau (CFPB) has broad authority under the Equal Credit Opportunity Act (ECOA) to prohibit discrimination against credit applicants and from discouraging prospective applicants for credit. This reinforces the bureau’s enforcement authority as it wages a war against redlining , including in a case against Chicago -based Townstone Financial , according to court documents reviewed by HousingWire.
So far this year, permits have been received by builders to build 13 multifamily housing units for every 10,000 residents in the U.S.; this is a roughly 30% decrease from the average of 18 for the same periods in 2021–2023. That’s according to a new report from Redfin. The study is based on a Redfin examination of data from the United States Census Bureau that covers the first five months of 2024 and the same periods in 2021–2023 for building permits for multifamily units in buildings with five
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.
Not many people in any profession enjoy making cold calls to potential clients, but a venture capital-backed technology startup hopes to make it a little easier for real estate agents. Atllas is launching a new artificial intelligence tool, Cold Call AI , that the company said is designed to streamline the process of reaching out to prospective home buyers and sellers.
Mortgage credit availability increased in June, rising 1% to a score of 95.0 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). A decrease in the index score indicates that lending standards are tightening, while increases are indicative of loosening credit. The index was benchmarked to 100 in March 2012. Credit availability for conventional loans increased 2.0%, while credit for government loans decreased by 0.1%.
The latest annual report from The Counselors of Real Estate highlights 10 major issues expected to impact the housing industry in 2024, but developers are painfully familiar with at least two of them: labor shortages and skyrocketing capital costs. Today’s market conditions help illustrate the case for green, factory building as an effective solution for developers , especially for those who’ve put projects on hold due to rising interest rates and dried up investor pools.
Mortgage rates decreased for a second week as the average rate for a 30-year fixed-rate mortgage dipped to 6.89%, down from 6.95% last week and down from 6.96% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. The 30-year has been hovering around 7% for over a year now – coupled with high home prices, buyers are heavily discouraged.
The Appraisal Foundation , a private organization that is the de facto regulator of appraisers , has settled with the United States Department of Housing and Urban Development (HUD) over allegations that its qualification program violated the Fair Housing Act. HUD opened an investigation in December 2021 to determine whether the foundation’s Appraiser Qualification Criteria, established by the Appraiser Qualification Board (AQB), have resulted in violations of the Fair Housing Act by crea
Overall inflation rose just 3 percent on an annual basis in June, according to Bureau of Labor Statistics. The 10-year Treasury yield, an indicator of mortgage rates, plummeted on the news Thursday.
A magistrate judge overseeing requests in a case against Ginnie Mae brought by Texas Capital Bank (TCB) has granted each side’s respective requests for an extension — one for a partial summary judgment for TCB, and the other for a change in venue by attorneys for the U.S. government. This is according to court documents reviewed by HousingWire ’s Reverse Mortgage Daily (RMD).
Real estate marketing and technology company used by more than 400,000 agents nationwide hired AI startup executive Eric Elfman in June to replace founder York Baur as CEO.
The Consumer Price Index fell 3% in June on an annual basis, a sharper decrease than economists had anticipated. It’s a shot in the arm for the housing industry, which has been battered by several years of high interest rates as the Federal Reserve tries to tamp down inflation. The evidence that inflation is meaningfully cooling increases the likelihood that the Federal Reserve’s Open Markets Committee cuts rates in September and then at least one more time in 2024.
Elections, interest rates and tax policies all may impact the luxury market for the remainder of the year, according to midyear reports from Christie's Real Estate and Sotheby's International Realty.
Both overall and core inflation continued to slow in June, as a decline in gasoline prices offset the increase in shelter costs. This is another dovish signal for future monetary policy, following a significant downward revision to the job report. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on.
NAR Chief Economist Lawrence Yun told CNBC he expects mortgage rates to settle around 6 percent, a prediction he’s made before. A look back at two years of his forecasts amid a chaotic economy.
Leaving Engel & Völkers, Melendez joins forces with Veronica Figueroa's leading eXp expansion team, The Fig Team, where she'll lead the team’s move into Florida's Space and Treasure Coasts.
The partnership between Thumbtack and MyMove helps link relocating families directly to the types of services so often needed when moving in and out of a home.
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