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 518

Mortgage Inventory New Listings Housing Market 518

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 331

Buyers 331

Inman

AUGUST 3, 2024

NAR President Kevin Sears sat down at Inman Connect Las Vegas with Clelia Warburg Peters to talk about the trade group's past and future, including a return to advocacy and transparency.

Real Estate 198

Real Estate Brokerage Agents 198

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.

Mortgage 505

Mortgage Government Tools Lending 505

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

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 195

Investors Business Mortgage Insurance 195

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 501

Mortgage Marketing Insurance Loan Officers 501

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 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 312

Real Estate 312

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 195

Technology Brokerage Agents Marketing 195

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 501

Sellers Training Real Estate Insurance 501

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

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 312

Inventory Mortgage 312

George Dell

AUGUST 7, 2024

It’s easier to get paid if your service provides a real value. Old expectations, or new client expectations? Are you an “old way” appraiser? — or a “new way” appraiser? To see yourself, it may be good to observe what real value our appraisal customers want. The Old Way: Appraisal meant the customer had to […] The post Get Paid?

Clients 195

Clients Appraisal 195

Housing Wire

AUGUST 8, 2024

Although there is no doubt that business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement are going to impact how real estate industry professionals operate, economists aren’t too sure they’ll have much bearing on the housing market. “I know that surprises people,” Orphe Divounguy, a senior economist at Zillow, said of the impact of business practice changes on the market.

Housing Market 488

Housing Market Marketing Mortgage Sellers 488

Appraisal Buzz

AUGUST 8, 2024

The Single-Family Rental (SFR) inventory and days-on-market continue to climb gradually, according to HouseCanary, Inc. ‘s most recent National Rental Report , which rose by 16.7% and 15.4%, respectively. Trends observed in the southern states were the primary cause of the increases in both indicators. As a result, and in line with earlier data, the steady increase in days-on-market and inventory levels, along with the continued demand for rentals as an alternative to house ownership, led to a m

Inventory 397

Inventory Development Real Estate Tenants 397

Real Estate News

AUGUST 8, 2024

The 30-year mortgage fell to its lowest level since May 2023, which “should begin to pique their interest in making a move” — but buyers might not be ready.

Buyers 306

Buyers Mortgage 306

Inman

AUGUST 8, 2024

Digital mortgage lender boosted second quarter loan production by 45 percent and says it's on track to originate more than $1 billion in mortgages in Q3 for the first time in two years, but losses continue to mount.

Investors 194

Investors Mortgage Finance 194

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 488

Brokerage Marketing Real Estate Mortgage 488

Appraisal Buzz

AUGUST 8, 2024

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 July. In July, the MCAI increased by 3.3% to 98.1. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.

Mortgage 396

Mortgage Government Lending Construction 396

Real Estate News

AUGUST 7, 2024

Revenue was up 13% in Q2, and the company — now with a new CEO — said it's in a strong position: “We have the most customers, we work with the best partners.

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303

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.

Agents 193

Agents Buyers Realtors Brokerage 193

Housing Wire

AUGUST 6, 2024

Redfin CEO Glenn Kelman said Tuesday on the company’s second-quarter 2024 earnings call that he expects business to improve when the housing market speeds up after mortgage rates come down. But what is the alternative if rates don’t come down? “Great question — Plan B is drink our own urine or our competitors’ blood,” Kelman said in response to an analyst’s question during the call.

Housing Market 486

Housing Market Marketing Brokerage Agents 486

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

NAR reps discussed upcoming rule changes and reiterated that it does not promote or set compensation: “NAR is agnostic as to where the commission levels are.

Marketing 296

Marketing 296

Inman

AUGUST 7, 2024

Choose not to be offended. Have conflict resolution strategies in place. Stay calm, acknowledge the difference in opinions, and move on to other topics, Keller Williams’ Julia Lashay Israel writes.

Agents 192

Agents 192

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 488

Transportation Construction Marketing Contracts 488

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 Tenants Mortgage Buyers 397

Real Estate News

AUGUST 3, 2024

A noteworthy United Real Estate merger in Dallas, Windermere appoints a new economist, Engel & Volkers agents get access to new design tools.

Brokerage 298

Brokerage Design Tools Real Estate 298

Inman

AUGUST 5, 2024

Just about one month after listing the property with Leonard Moens, Leonard Riggio's 1.7-acre oceanfront estate in Palm Beach has gone under contract.

Buyers 192

Buyers Contracts 192

Housing Wire

AUGUST 7, 2024

More households led by older Americans who are either in or near retirement are carrying higher levels of debt. This has major implications for the nation’s retirement readiness posture, according to an issue brief published last week by the Employee Benefit Research Institute (EBRI). “While improving in many respects in the most recent years, the overall trends in debt are troubling in terms of retirement preparedness, in that American families just reaching retirement or those newly retired ar

Finance 482

Finance Design 482

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.

Home Value 397

Home Value Inventory Mortgage Lending 397

Real Estate News

AUGUST 9, 2024

Agent count has also continued to decline, and CEO Erik Carlson said they are looking at all aspects of their business in preparation for an industry rebound.

Agents 289

Agents Business 289