Housing Wire

SEPTEMBER 1, 2024

Have we seen the peak in housing inventory for 2024? The best part about 2024 has been that higher mortgage rates have created an inventory buffer, so if the economy gets softer and rates fall, we have many more homes to work with than we had in 2020-2023. I have consistently written that with mortgage rates above 7%, inventory should grow between 11,000-17,000 and this year it has happened six times perfectly in the channel.

Inventory 512

Inventory Mortgage New Listings Housing Market 512

Appraisal Buzz

SEPTEMBER 5, 2024

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Construction 459

Construction Inventory Housing Market Contracts 459

Sacramento Appraisal Blog

SEPTEMBER 5, 2024

I hear it all the time. “Five months of supply is a balanced housing market.” Is that really true though? Let’s unpack this today and digest the importance of narratives and national vs local stats. I know this sounds like geeky stuff, but it’s so important (see action steps). Any thoughts? I’VE BEEN GONE FOR […] The post Bro, is 5 months of supply really balanced?

Housing Market 284

Housing Market Appraisal Marketing 284

Real Estate News

SEPTEMBER 5, 2024

More choices and lower mortgage rates may bring out late-season buyers, and they could have an advantage over those who wait until spring.

Marketing 288

Marketing Buyers Mortgage 288

Housing Wire

SEPTEMBER 6, 2024

In 2022, I argued that the Federal Reserve won’t pivot until the labor market breaks. This means that the Fed will need to create such a slowdown in the labor market that nobody will question their action when they pivot. This is what I call the “cover cuts” policy. After today’s jobs report and the negative revision to this report and the previous ones, it is safe to say nobody outside of crazy people who want to see America go into a recession will question the Fed rate cut that will happen th

Marketing 476

Marketing Construction Mortgage Housing Market 476

Appraisal Buzz

SEPTEMBER 6, 2024

Douglas G. Duncan Douglas G. Duncan , current SVP and Chief Economist at Fannie Mae, has officially announced his retirement via a LinkedIn post late Friday afternoon. Duncan’s post on his LinkedIn page ended speculation of an impending retirement and exit from the GSE. “I noticed someone ran a story about me retiring, so I thought I had better do it,” said Duncan in his post.

Real Estate 435

Real Estate Business Mortgage Finance 435

Real Estate News

SEPTEMBER 4, 2024

With new industry rules now in effect, the association has released additional resources for buyers and sellers that focus on ethics and steering.

Clients 276

Clients Agents Sellers Buyers 276

Housing Wire

SEPTEMBER 5, 2024

Declining mortgage rates have yet to break the dam on the stalled housing market, but the sweet spot on rates that would get the market moving again is about 5%. That’s according to a new survey from Mphasis Digital Risk, which revealed that 42% of prospective buyers said a 5% rate would get them back in the market. An additional 27% said they’re targeting a 4% rate, while 20% say it’s 6%.

Buyers 452

Buyers Marketing Mortgage Real Estate Agent 452

Appraisal Buzz

SEPTEMBER 6, 2024

Renting, traditionally seen as a more affordable option compared to homeownership, has become increasingly expensive in many of the nation’s largest cities. A recent analysis by LendingTree , using data from the U.S. Department of Housing and Urban Development (HUD) , paints a stark picture of how Fair Market Rents (FMRs) for one- and two-bedroom units have surged across the country over the five-year span of 2019-2024.

Landlords 395

Landlords Housing Market Development Marketing 395

Inman

SEPTEMBER 2, 2024

Buyers failed to bite this summer despite falling mortgage rates. It has agents about as down on their business prospects as they've been all year heading into the NAR settlement era, according to Intel's Client Pipeline Tracker.

Real Estate Agent 183

Real Estate Agent Clients Agents Real Estate 183

Real Estate News

SEPTEMBER 3, 2024

The policy, which was designed to discourage the sharing of listings via private networks outside the MLS, is being called into question.

Design 276

Design 276

Housing Wire

SEPTEMBER 6, 2024

Mortgage rates remained flat following a jobs report on Friday that continued to show a cooling labor market. Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan originators told HousingWire. Kevin Leibowitz, president of Grayton Mortgage , said he was quoting 6.125% for a 30-year conventional mortgage of $400,000 on Friday with no discount points.

Mortgage 414

Mortgage Loan Officers Government Tools 414

Appraisal Buzz

SEPTEMBER 5, 2024

With the total number of homes on the market at its greatest point since May 2020 and interest rates about to start declining, buyers will have more options this autumn. The Realtor.com August Housing Trends Report shows that the number of homes actively for sale increased by 35.8% in August, marking the tenth consecutive month of growth in this number of properties.

Sellers 397

Sellers Housing Market Buyers Marketing 397

Inman

SEPTEMBER 3, 2024

Anthony Lamacchia said threats of severe penalties for commission violations leveled by plaintiffs lawyer Michael Ketchmark and Consumer Advocates in American Real Estate are "unnecessary.

Real Estate Agent 180

Real Estate Agent Real Estate Agents Brokerage 180

Real Estate News

SEPTEMBER 4, 2024

The “free” ride may not last as officials seek solutions for a deflationary economy and a glut of homes — the mirror image of what the U.S. is dealing with.

Mortgage 245

Mortgage 245

Housing Wire

SEPTEMBER 4, 2024

United Wholesale Mortgage (UWM) is rolling out a new 75 basis-point incentive program for conforming conventional and government-backed rate-and-term refinances. The program, dubbed “Refi75,” effectively replaces and expands on “Govy 125,” a 125-bps incentive that ended Tuesday for Interest Rate Reduction Refinance Loans (IRRRLs) through the U.S.

Government 407

Government Technology Clients Investing 407

Appraisal Buzz

SEPTEMBER 3, 2024

A recent study has brought to light the financial advantages of working with Independent Mortgage Brokers, underscoring the significant savings and inclusive support they offer to a diverse range of homebuyers. The study, conducted by Polygon Research and backed by Willow Canyon Advisors and United Wholesale Mortgage (UWM) , analyzed 2023 data, and found that consumers who choose Mortgage Brokers over nonbank retail lenders can save an average of $10,662 over the life of their loan.

Retail 397

Retail Mortgage Housing Market Appraisal 397

Inman

SEPTEMBER 5, 2024

Katherine Bell and Maddy Petrini are bringing their Bell and Petrini team to Coldwell Banker's Back Bay office. The team has done $47 million in sales this year, according to the brokerage.

Brokerage 170

Brokerage Agents 170

Real Estate News

AUGUST 31, 2024

The president of Better Homes and Gardens Real Estate is focused on moving forward. "You can spend your energy fighting what’s happening, or lean into it.

Real Estate 259

Real Estate 259

Housing Wire

SEPTEMBER 5, 2024

Data released Thursday by Realtor.com and Redfin shows that even as more homes are being listed for sale and mortgage payments are becoming more affordable, fewer transactions are occurring. According to a housing trends report from Realtor.com, active listings were up nearly 36% year over year in August. It was the 10th straight month of annualized growth and for-sale inventory is now at its highest level since May 2020.

Inventory 400

Inventory Buyers Sellers Mortgage 400

Appraisal Buzz

SEPTEMBER 4, 2024

Homebuyer affordability improved in July, with the national median payment applied for by purchase applicants decreasing to $2,140 from $2,167 in June. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), using data from MBA’s Weekly Applications Survey (WAS). “Homebuyer affordability conditions improved for the third consecutive month as rates below 7 percent and rising housing inventory continue to bode well for prospective homebuyers,”,” s

Mortgage 387

Mortgage Inventory Housing Market Appraisal 387

Inman

SEPTEMBER 4, 2024

If mortgage rates fall by another percentage point, ICE Mortgage sees homebuyers' monthly payment dropping by $236 and nearly 7.2 million homeowners "in the money" for a refinance.

Mortgage 169

Mortgage Marketing 169

Real Estate News

SEPTEMBER 5, 2024

A new report from ATTOM indicates that select counties in California, New Jersey and Illinois are most at risk of a housing market downturn.

Marketing 254

Marketing Housing Market 254

Housing Wire

SEPTEMBER 2, 2024

The real estate industry is undergoing a seismic transformation, with recent regulatory changes pushing the National Association of Realtors to a critical juncture. As these shifts unfold, real estate agents face both challenges and opportunities. Those who adapt will find themselves in a prime position to succeed. Here are five essential strategies to navigate this new landscape. 1.

Real Estate 416

Real Estate Agents Marketing Real Estate Agent 416

Appraisal Buzz

SEPTEMBER 2, 2024

In the four weeks that ended on August 25, pending home sales dropped 6.9%, marking the worst annual loss in almost a year, according to a new study from Redfin. This is true even as the weekly average mortgage rate drops to its lowest point in 15 months and the median monthly home payment in the U.S. reaches its lowest point since February. Key Indicators of Homebuying Demand & Activity: The daily average 30-year fixed mortgage rate was 6.37% (as of August 28), nearing the lowest level sinc

Mortgage 397

Mortgage Buyers Sellers Agents 397

Inman

SEPTEMBER 6, 2024

Jimmy Burgess and Andrew Undem share strategies for writing a compelling offer on behalf of buyers, closing more deals and building lifelong client relationships.

Client Relationships 174

Client Relationships Buyers Clients Agents 174

Real Estate News

AUGUST 31, 2024

Corcoran Icon adds Silicon Valley office; @properties IND grows; E&V expands in Costa Rica; CB nabs $1B team; C21 adds two firms; Realty ONE hits milestone.

Brokerage 240

Brokerage Realty 240

Housing Wire

SEPTEMBER 4, 2024

Declining mortgage rates in August provided some relief for U.S. homebuyers and made it the most affordable month since February. Of the 2.5 million “in-the-money“ mortgage holders as of Aug. 22, more than 60% took out their mortgages in the past two years, including 850,000 in 2023 and 560,000 this year. The average highly qualified candidate who took out a mortgage within the past two years could save $264 per month by refinancing at today’s prevailing rate, according to the newest Mortgage M

Mortgage 401

Mortgage Inventory Marketing 401

Appraisal Buzz

SEPTEMBER 5, 2024

The results of a poll conducted among 1,818 U.S. adults nationwide show that nearly half of prospective homebuyers are having difficulty paying for basic housing expenses and that the affordability of home insurance is a key consideration in their decision to relocate. The survey was conducted by Mphasis Digital Risk. The trajectory of interest rates and what Americans refer to as their “magic number”—the mortgage rate that would compel them to buy a home—have them feeling more optimistic than t

Buyers 370

Buyers Insurance Bracketing Mortgage 370

Inman

SEPTEMBER 6, 2024

The real estate vet co-founded the Manhattan division of Sotheby's International Realty in the mid-1970s and co-founded Halstead Property with Diane Ramirez in the mid-1980s.

Brokerage 166

Brokerage Realty Real Estate Agents 166

Real Estate News

SEPTEMBER 6, 2024

A mixed August jobs report has economists speculating about how deep of an interest rate cut the Federal Reserve might make on Sept. 18.

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243

Housing Wire

SEPTEMBER 3, 2024

With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower. Elevated interest rates have been part of the reality for the forward and reverse mortgage channels since the waning days of the COVID-19 pandemic.

Mortgage 399

Mortgage Clients Finance Business 399

Appraisal Buzz

SEPTEMBER 2, 2024

The July 2024 CreditGauge , a monthly analysis by VantageScore that shows the general state of consumer credit in the U.S., was issued. Lenders and consumers had a more conservative credit stance through the end of July. Although the average customer’s credit score, which is determined by VantageScore 4.0, is still quite high at 702, overall consumer credit usage dropped to 51.6%, a four-year low, as a result of increased credit caution.

Lending 370

Lending Mortgage Appraisal Marketing 370

Inman

AUGUST 31, 2024

Do we still want to work like it's 1999? No, that's why agents need to ask themselves what they really want their work, life and compensation to look like moving forward, Rachael Hite writes.

Agents 176

Agents 176