Housing Wire

AUGUST 4, 2024

Mortgage rates moved massively lower last week without any Federal Reserve rate cuts, primarily because the labor market is getting softer. Can mortgage rates go even lower? As we can see below, when the market priced economic weakness earlier in 2024, it took the 10-year yield down toward 3.80% but didn’t break that level. So, after a softer jobs report, the question is: Can this level break and head back down to the key line in the sand I call the Gandalf line at 3.37%?

Mortgage 512

Mortgage Inventory New Listings Housing Market 512

Appraisal Buzz

AUGUST 5, 2024

A new analysis from Zillow has found that luxury home value growth has now outpaced appreciation on typical homes for five consecutive months. The typical luxury home—defined by Zillow as the most valuable 5% of homes in a given region—is worth about $1,620,000. Among the 50 largest U.S. metro areas, the typical luxury home ranges from a low of just under $750,000 in Buffalo to more than $5.3 million in San Jose.

Home Value 418

Home Value Inventory Buyers Marketing 418

Real Estate News

AUGUST 7, 2024

Barton and Jeremy Wacksman speak exclusively with Real Estate News about the leadership transition at the top of the influential home-search site.

Real Estate 315

Real Estate 315

Eyes on Housing

AUGUST 9, 2024

Total outstanding US consumer debt stood at $5.08 trillion for the first quarter of 2024, increasing at an annualized rate of 2.46% (seasonally adjusted), according to the Federal Reserve’s G.19 Consumer Credit Report. From the second quarter of 2023 to the second quarter of 2024, the total increased by 1.84%. This year-over-year (YoY) growth rate.

Finance 176

Finance 176

Housing Wire

AUGUST 6, 2024

The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. At HousingWire ‘s Mortgage Rates Center on Tuesday, the 30-year conventional loan rate averaged 6.8% — a new low point for 2024 that was just below the 6.83% figure to start the year.

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Mortgage Government Tools Lending 491

Appraisal Buzz

AUGUST 9, 2024

For the third consecutive year, the U.S. is expected to set new records for apartment construction. By the end of 2024, developers plan to have completed an astounding 518,108 rental units, a startling 30% more than in 2022 and 9% more than in 2023. This is according to a new study from RentCaf e. Furthermore, 2024 will mark the first time in the history of apartment building in the U.S. that the total number of completed units will exceed the 500,000-unit mark.

Construction 397

Construction Development Business Marketing 397

Inman

AUGUST 6, 2024

The Consumer Federation of America also tells consumers not to agree to pay an agent just to see a home, but to sign a touring agreement with no financial obligation instead.

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Agents Buyers Realtors Brokerage 192

Housing Wire

AUGUST 5, 2024

Fears of a recession in the U.S. sent shockwaves through financial markets around the world on Monday. The Dow-Jones dropped 1,000 points by 10:30 a.m. Eastern time, the NASDAQ lost up to 6% of its value and Japanese stocks suffered their biggest crash since 1987, with the Nikkei 225 stock index dropping 12.4%. The turbulence should benefit the U.S. mortgage market , which has already seen big interest rate declines in the past week following a Fed meeting that teased forthcoming cuts to benchma

Mortgage 485

Mortgage Marketing Insurance Loan Officers 485

Appraisal Buzz

AUGUST 9, 2024

A new report on the mortgage from Corporate Insight (CI) examines the loan origination experience from the perspective of actual borrowers, identifying new best practices, competitive gaps, and ways lenders can better serve consumers. The “ Lending Monitor: Mortgage Origination Study ” examines the loan origination experience using a consumer survey, in-depth interviews with active home buyers, and an examination of firm communications to identify the factors that influence lender selection and

Lending 418

Lending Buyers Tools Mortgage 418

Real Estate News

AUGUST 5, 2024

A Redfin survey found that younger buyers are more willing to sacrifice safety, and overall, proximity to amenities was lower on the list of must-haves.

Buyers 298

Buyers 298

Inman

AUGUST 9, 2024

Cloud banking software provider maintains steady growth in consumer banking revenue, while reversing the decline in its main line of business of providing services to mortgage lenders.

Investors 194

Investors Business Mortgage Insurance 194

Housing Wire

AUGUST 7, 2024

The Real Brokerage isn’t tapping the brakes on its rapid expansion. During its second-quarter 2024 earnings call on Wednesday, the company said it added almost 3,000 agents from April through June, a 70% year-over-year rise and a 250% increase compared to Q2 2022. The ballooning agent count pushed brokerage revenue to $340 million, an 84% year-over-year improvement.

Brokerage 441

Brokerage Agents Technology Housing Market 441

Appraisal Buzz

AUGUST 5, 2024

As of Q2 2024, tappable equity in the U.S. housing market has surged to a record $11.5 trillion, with three out of five mortgage holders possessing at least $100,000 in equity they can borrow against, according to the August 2024 ICE Mortgage Monitor Report. Despite outstanding mortgage debt hitting an all-time high of $13.8 trillion in June, rising home prices have driven mortgage holder equity to a new peak of $17.6 trillion.

Inventory 397

Inventory Home Value Mortgage Lending 397

Real Estate News

AUGUST 7, 2024

The company reported strong Q2 numbers, noting that its rev share model and tech will continue to give it an edge, while “traditional models may struggle.

Agents 287

Agents 287

Inman

AUGUST 7, 2024

After five years back at the helm, Zillow Group co-founder Rich Barton steps down as CEO. Former COO Jeremy Wacksman takes the reins as the company charges past what Barton calls the "Portal 1.0" experience.

Technology 194

Technology Brokerage Agents Marketing 194

Housing Wire

AUGUST 6, 2024

UWM Holdings Corp. , the parent of United Wholesale Mortgage , has adopted a strategy that differs from its peers to take advantage of a business landscape that is expected to include lower mortgage rates and more refinance activity. The Pontiac, Michigan-based company has opportunistically sold mortgage servicing rights (MSRs) with higher coupons to deleverage its balance sheet and invest in the origination business — for example, by offering incentives on some refi loans.

Investing 450

Investing Mortgage Business Investors 450

Appraisal Buzz

AUGUST 6, 2024

For many American families, moving from renting to home ownership has become considerably more difficult as a result of the housing affordability issue, according to new Creditnews data. In reality, the monthly cost difference between owning a home and renting, given current mortgage rates and home prices, can reach $10,000 in some major cities. But in what way?

HOA 397

HOA Mortgage Tenants Buyers 397

Real Estate News

AUGUST 6, 2024

The Consumer Federation of America has rolled out new guidance and is discouraging the practice of paying agents based on a percentage of a home’s sale price.

Agents 280

Agents 280

Eyes on Housing

AUGUST 9, 2024

During the second quarter of 2024, credit for residential Land Acquisition, Development & Construction (AD&C) continued to tighten and became even more expensive for most types of loans, according to NAHB’s survey on AD&C Financing. The survey was conducted in July and asked specifically about financing conditions in the second quarter, predating the release of.

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Finance Construction Development Lending 167

Housing Wire

AUGUST 9, 2024

Is a business model change coming for RE/MAX? The possibility was floated on the company’s second-quarter 2024 earnings call Friday morning, as the brokerage’s sinking agent count continues to suppress revenue in what’s already a difficult housing market for real estate companies. RE/MAX has operated on a flat-fee business model since its inception, but a company website suggests there are options for agents who wish to take commission splits.

Agents 432

Agents Business Brokerage Investors 432

Appraisal Buzz

AUGUST 8, 2024

The U.S. housing market is rapidly approaching the $50 trillion mark, with the total value of homes across the country hitting a record $49.6 trillion, according to a new report by Redfin. This represents a $3.1 trillion increase over the past year, marking a 6.6% year-over-year growth. In a decade, the value of U.S. homes has more than doubled, rising nearly 120% from $22.7 trillion in June 2014.

Valuation 417

Valuation Housing Market Marketing Home Value 417

Real Estate News

AUGUST 6, 2024

CEO Glenn Kelman says the company's lower-fee model will attract consumers who are now more aware of commissions: "We can use price as a weapon to gain share.

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Inman

AUGUST 5, 2024

The MLS has been a leader in real estate innovation for over 30 years. Its brand, VestaPlus, is renowned for user-friendliness, customer service, and design in the MLS industry.

Design 182

Design Real Estate 182

Housing Wire

AUGUST 5, 2024

Seller impersonation fraud is on the rise. A study conducted by NDP Analytics found that 28% of title companies experienced at least one seller impersonation fraud attempt in 2023, and in April 2024 alone, 19% of firms experienced at least one of these attempts. The study, which was released on Monday, is based on a nationwide survey of 783 title companies.

Sellers 485

Sellers Training Real Estate Insurance 485

Appraisal Buzz

AUGUST 7, 2024

A coalition of six industry and consumer trade groups have united to issue a new brief with recommendations on how to help combat the rise in deed fraud. According to the Federal Trade Commission (FTC) , fraud losses in 2023 cost U.S. consumers more than $10 billion, of which, $2.7 billion is attributed to imposter scams. Groups contributing to the “ What Is Deed Fraud?

Law 397

Law Real Estate Government Realtors 397

Real Estate News

AUGUST 8, 2024

Watch the conversation with industry icon Stefan Swanepoel on the “self-centered, arrogant” leaders in real estate, NAR’s missteps and opportunities ahead.

Real Estate 257

Real Estate 257

Inman

AUGUST 7, 2024

Fannie Mae survey shows would-be homebuyers grew even more frustrated with elevated home prices and mortgage rates in July, but 7 in 10 didn't think mortgage rates would come down.

Mortgage 186

Mortgage Marketing 186

Housing Wire

AUGUST 4, 2024

The Federal Reserve won’t pivot on rates until the labor market breaks and it will keep financial conditions as tight as possible until that happens — this has been my theme since 2022. Friday’s jobs report had one number which got people talking about a possible recession: the 4.3% unemployment rate. Now, historically speaking, that is a low unemployment rate, but it has moved up from the recent lows of 3.5%.

Transportation 466

Transportation Construction Marketing Contracts 466

Appraisal Buzz

AUGUST 6, 2024

Commercial Chapter 11 bankruptcy filings surged by 40% in July 2024, reaching 510 filings compared to 364 filings in July 2023, according to data from Epiq AACER. Overall commercial filings also saw a significant rise, increasing by 17% to 2,335 filings in July 2024 from 2,004 in the same month last year. The total number of U.S. bankruptcy filings in July 2024 was 44,427, a 24% increase from the July 2023 total of 35,727.

Business 370

Business Investors Investing Appraisal 370

Real Estate News

AUGUST 3, 2024

The jobs report was the biggest surprise, and it had an immediate impact on mortgage rates. Meanwhile, inventory continues to build.

Inventory 285

Inventory Mortgage 285

Inman

AUGUST 6, 2024

Last week, the brightest minds in real estate converged at Inman Connect to set agents, brokers and MLS members straight on the finer points of the new rules taking effect in less than two weeks.

Real Estate 189

Real Estate Agents Realtors Brokerage 189

Housing Wire

AUGUST 5, 2024

The global stock selloff that began overnight in Asia rolled through U.S. markets on Monday as the S&P 500 and the Dow Jones Industrial Average fell by 3% and 2.6%, respectively. While technology-sector darlings such as Nvidia and Apple got thumped the hardest, the real estate industry also took its fair share of lumps. But analysts believe that the sell-off, paired with a drop in interest rates, could produce mixed results for real estate.

Brokerage 466

Brokerage Marketing Real Estate Mortgage 466

Appraisal Buzz

AUGUST 7, 2024

Tampa has emerged as the most desirable city in the United States, with Florida being the most sought-after state, according to a recent survey by Clever Real Estate. The St. Louis-based real estate company surveyed 1,000 Americans to determine the best and worst places to live in the country. Nearly a quarter of the respondents (23%) listed Tampa among their top five cities to live in.

Real Estate 370

Real Estate Appraisal 370

Real Estate News

AUGUST 7, 2024

Watch the conversation with NAR’s top lobbyist as she discusses what advocacy really means for members and some of the big wins the association has achieved.

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