Housing Wire
SEPTEMBER 7, 2024
Mortgage rates have made almost a 2% move lower from the highs of 2023. Now that the jobs week data is in, the question is: can mortgage rates go even lower? The answer is yes, but we will need more economic weakness, better spreads and a more dovish Fed. While the Fed can be old and slow, the bond market, thankfully, is doing a lot of the heavy lifting and has already priced in a lot of Fed easing policy.
Appraisal Buzz
SEPTEMBER 11, 2024
CoreLogic has released its CoreLogic Home Price Index (HPI) and HPI Forecast for July 2024. U.S. year-over-year home price gains inched down, reaching 4.3% in July, falling further from the previous month’s 4.7% and resting below 5% for the third consecutive month. On a month-over-month basis, home prices decreased by 0.01% in July 2024 compared with June 2024.
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Sacramento Appraisal Blog
SEPTEMBER 11, 2024
Mortgage rates have gone down, but buyers aren’t that impressed yet. It seems like the real estate community is really excited about lower rates, but buyers aren’t sharing the enthusiasm so much (yet). Let’s talk about it and maybe kick around some language to describe today’s housing market. Skim by topic or digest slowly. UPCOMING […] The post Buyers aren’t impressed yet with lower rates first appeared on Sacramento Appraisal Blog.
Real Estate News
SEPTEMBER 12, 2024
The downward trend hasn’t fired up buyers (yet), but predictions of more cuts this year could move rates closer to 5% and amp up the market next spring.
Housing Wire
SEPTEMBER 11, 2024
On this crazy day with the bond market, mortgage rates dropped to another yearly low after the CPI inflation print. How low? Mortgage News Daily came out with a shocking print of 6.11% mortgage rates for their top-tier borrowers, while HousingWire’s Mortgage Rates Center , which tracks actual loan lock data from Polly , is also at a year-to-date low of 6.44%.
Appraisal Buzz
SEPTEMBER 10, 2024
Freddie Mac CEO Diana Reid The Board of Directors of Freddie Mac has announced the selection of real estate and financial services industry veteran Diana Reid to serve as the company’s new CEO, effective immediately. Reid will also serve as a member of Freddie Mac’s Board of Directors. President and Interim CEO Michael Hutchins will continue as the company’s President.
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Real Estate News
SEPTEMBER 10, 2024
According to a recent WAV Group poll of real estate professionals, only 28% want to keep the policy as-is, with many citing concerns over litigation.
Housing Wire
SEPTEMBER 12, 2024
Home equity continued to rise in the second quarter of 2024 as residential properties with mortgages collectively gained $1.3 trillion in equity over the past year. But growth began to slow during these three months, according to the CoreLogic Homeowner Equity Insights report published on Thursday. The aggregate equity gain was 8% year over year, bringing total equity on mortgaged properties to more than $17.6 trillion at the end of Q2 2024.
Appraisal Buzz
SEPTEMBER 10, 2024
Young adults today are living with their parents at a rate unseen since 1940, according to a study from Apartment List , whose research team collects and analyzes U.S. rental market data. Necessity, rather than choice, has placed many families in this position, economists say. “Fewer than one-in-five [young adults living at home] are earning incomes that would allow them to comfortably afford local rent prices, a far lower share than in the past.
Inman
SEPTEMBER 10, 2024
Officials from the National Association of Realtors are meeting this week to discuss the so-called pocket listing ban — one of the industry's most polarizing rules.
Real Estate News
SEPTEMBER 12, 2024
With industry rule changes now in effect, the National Association of Realtors has been doubling down on education and outreach to buyers and sellers.
Housing Wire
SEPTEMBER 12, 2024
Lower mortgage rates over the past several months have led to increased affordability for prospective homebuyers, and this could lead to an extra competitive fall 2024 season. That’s according to a Zillow report released Thursday in which the Seattle -based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year.“ Zillow noted that the U.S. median monthly mortgage payment in August had declined by mo
Appraisal Buzz
SEPTEMBER 13, 2024
The latest Mortgage Credit Availability Index (MCAI) released by the Mortgage Banker’s Association (MBA) indicated that there was an increase in mortgage credit availability in August. In August, the MCAI increased by 0.9% to 99.0. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements. In March 2012, the index was benchmarked at 100.
Inman
SEPTEMBER 12, 2024
DHI Mortgage, Rate and CrossCountry Mortgage ranked as biggest employers of top-producing Latino mortgage originators by the National Association of Hispanic Real Estate Professionals (NAHREP)
Real Estate News
SEPTEMBER 9, 2024
A Fannie Mae survey found that despite sour attitudes about homebuying, there’s hope that rates and prices will decline — and a geographic divide over selling.
Housing Wire
SEPTEMBER 10, 2024
In a traditional sense, the term “silver tsunami” refers to pent-up housing stock that older homeowners will eventually choose to sell, which would have the effect of flooding the market with new inventory. But if prior suppositions about this trend being overblown failed to convince people, new data might make things clearer. More than half (54%) of baby boomers have no intention of ever selling their homes, according to new survey data from Clever Real Estate.
Appraisal Buzz
SEPTEMBER 9, 2024
The Five Star Conference 2024 is right around the corner! Set for September 24-26 at the OMNI Hotel in Dallas, the list of scheduled speakers, educational offerings, and networking opportunities continues to grow, offering something for all in the mortgage finance marketplace. At the FORCE Rally , attendees will be presented with relevant content, top-tier speakers, and exclusive insight so attendees can take their business to the next level amidst an unpredictable and tumultuous economic landsc
Inman
SEPTEMBER 13, 2024
Investors who fund most mortgages have already priced in several rate cuts, so further declines could depend on what next week's "dot plot" says about expectations for the pace of future cuts.
Real Estate News
SEPTEMBER 13, 2024
The pre-sale renovation company, which got early support from NAR, also will change its marketing and be more transparent about its deals with agents.
Housing Wire
SEPTEMBER 9, 2024
While inventory of unsold homes in the housing market in each of the last two years headed higher during September and October due to mortgage rate spikes, we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year. In fact, for every two sales, there is another listing withdrawn from the market.
Appraisal Buzz
SEPTEMBER 13, 2024
As we near the fourth quarter of 2024, the traditional peak of the home-buying season has passed, and the real estate market is entering a period of transition. Home prices, which typically reach their highest point around the end of June, have remained stable thus far. However, a dip is anticipated as we move deeper into the second half of the year.
Inman
SEPTEMBER 7, 2024
They've been fighting since 2020, and now NAR plans to take the Department of Justice to the nation's highest court to enforce a previous settlement.
Real Estate News
SEPTEMBER 12, 2024
An amended complaint by a former project manager adds new claims and details to sexual harassment, discrimination and retaliation allegations.
Housing Wire
SEPTEMBER 9, 2024
The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. Almost a month after the rules went into effect, that appears to be happening. That’s according to Redfin , which interviewed dozens of its agents about what they’re seeing on the ground in regard to buyer commission conversations.
Appraisal Buzz
SEPTEMBER 11, 2024
A new report from RentCafe has ranked the nation’s best markets for rentals. The report found that the Midwest’s transformation to a leading area in tech and manufacturing is attracting budget—renters seeking affordability, amenities, and nature. This trend has propelled suburban Chicago to the top of the list of nation’s hottest rental markets, unseating the Miami region which long held its dominance atop the U.S. rental market.
Inman
SEPTEMBER 9, 2024
While most reported normal activity in the weeks after the commission rules took effect, some saw an uptick in listing clients refusing to pay buyers' fees, new Inman Intel Index results show.
Real Estate News
SEPTEMBER 11, 2024
The future of private listings and MLS integrity is at stake as a key NAR committee meets this week to hear arguments about keeping — or scrapping — the policy.
Housing Wire
SEPTEMBER 11, 2024
Mortgage rates have declined for six straight weeks, pushing loan application volume up 1.4% during the week ending Sept. 6, according to the Mortgage Bankers Association (MBA). The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S. — found that the seasonally adjusted refinance index increased 1% from the previous week and was 106% higher than the same week a year ago.
Appraisal Buzz
SEPTEMBER 12, 2024
The U.S. Department of Housing & Urban Development (HUD) has announced its most extensive update to the Manufactured Home Construction and Safety Standards in more than three decades, including 90 new or updated standards to increase innovation and production of homes with features that are sought-after by consumers, such as open floor plans and accessibility enhancements, open floor plans, and specifications for attics.
Inman
SEPTEMBER 12, 2024
The search platform is already live on the multiple listing service's website and comes amid a growing interest in using artificial intelligence to improve consumer home searches
Real Estate News
SEPTEMBER 10, 2024
A recent poll shows a split between major industry players when it comes to the National Association of Realtors’ performance — and its settlement.
Housing Wire
SEPTEMBER 11, 2024
On a recent episode of the RealTrending podcast , host Tracey Velt has a tantalizing conversation with Luis Carrion, CEO and chairman of Berkshire Hathaway HomeServices California Properties. Carrion was recently chosen as a 2024 RealTrends GameChanger based on his company’s five-year growth rate in transaction sides. Carrion also leads the firm’s office sales and investment advisory group.
Appraisal Buzz
SEPTEMBER 10, 2024
With mortgage rates on the decline and housing supply ramping up, affordability is on the rise for many, Realtor.com’s latest market analysis found that much anticipated market relief is on the way, and many potential buyers are stepping off the sidelines. Realtor.com’s Sixth Annual “ Best Time to Buy Report ” examined listing prices, inventory levels, new “fresh” listings, time on market, homebuyer demand, and price reductions, revealing that the “Best Time to Buy” in 2024 will be the week of S
Inman
SEPTEMBER 11, 2024
A surprisingly large increase in core CPI, which excludes volatile food and energy prices, means Fed policymakers are likely to start out with a modest 25 basis-point rate cut when they meet next week.
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