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The average 30-year-fixed rate mortgage declined one basis point from the week prior to 3.55% during the week ending Jan. 27, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Most economists believe rates will continue to climb in the weeks and months ahead. “Following a month-long rise, mortgage rates effectively stayed flat this week,” Sam Khater, Freddie Mac’s chief economist, said in a statement.
Sometimes crossing the street can make all the difference for value. In short, if we don’t understand where a neighborhood starts and ends, we might choose the wrong comps. Let’s talk about that today. I welcome your constructive and thoughtful comments. Photo used with permission (thanks Vicky). 1) BOUNDARIES MATTER: Here is a real example […].
Addition of four new appointments brings Committee membership to full 12 members authorized by statute. The post HUD Names Four to Housing Counseling Federal Advisory Committee appeared first on DSNews. The post HUD Names Four to Housing Counseling Federal Advisory Committee appeared first on Appraisal Buzz.
Idaho is a gorgeous state! I live in the backyard of the Teton Mountain Range and Yellowstone National Park, and I love going to the hills. Hiking through groves of. Read More.
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.
Today the Census Bureau ‘ s new home sales report came in as a beat of estimates at 811,000. The headline beat surprised many people, but the report’s internals show negative revisions for the previous months. The bearish take on housing for the second half of 2021 didn’t really pan out, especially in the new home sales sector. What I believe occurred is that some housing investors took the decline in builders confidence and the increase in monthly supply to push that something bad was going to
Hello! I hope you’re having a great start to 2022! If you’re a regular reader of my blog, you know that I enjoy having guest bloggers write articles for the Cleveland Appraisal Blog. I’m also very appreciative for their doing so! I always enjoy the articles my guests write. With that said, this week I am happy to welcome back a regular guest to my blog, Jessica Brody!
Hello! I hope you’re having a great start to 2022! If you’re a regular reader of my blog, you know that I enjoy having guest bloggers write articles for the Cleveland Appraisal Blog. I’m also very appreciative for their doing so! I always enjoy the articles my guests write. With that said, this week I am happy to welcome back a regular guest to my blog, Jessica Brody!
The lull in the rental market seen at the onset of the pandemic is all but a distant memory as rents have surged by double digits over the past few months indicating that the rebound, in part, is caused by the lack of inventory in the purchase market. According a new report titled “Americas Rental Housing … The post Policy Changes May Help Alleviate Disparities in Renting appeared first on theMReport.com.
Only 15% of buyers were looking for a newly-built home at the start of 2018, but that share shot up to 42% by the final quarter of 2020 (after the start of the pandemic). Since then, however, interest for new construction has fallen steadily, as costs for building materials – especially lumber – have experienced double-digit growth. By the final.
U.S. home sellers made a pretty penny in 2021, with the nationwide realized profit growing by 45% year-over-year, according to a new analysis published by real estate data vendor ATTOM this week. Per ATTOM’s year-end home sales report, on average home sellers raked in a profit of $94,092 on a typical home sale last year, up from $64,931 in 2020.
Obsolescence, in appraisal education, is of three types: functional, physical, economic. If we are to stop the obsolescence of the appraisal ‘professional’ model, it may help if we look at the established body of knowledge with this in mind. Recall our context. We are looking at the “five frictions” – process, standards, education, user expectations, […].
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.
Are you ready to meet the new GSE requirement of a detailed floor plan for your desktop appraisals? Join us for our upcoming webinar on January 25th at 2 pm, “ The Future of Desktop Appraisals ” with Joshua Walitt and Mark Walser! Learn about all of the new features in RemoteVal – a free inspection app for appraisers! RemoteVal has added a Dynamic Floor Plan Creator, in addition to allowing the appraiser to visually inspect the property in real-time on the date of inspection.
New single-family home sales increased in December as housing demand was lifted by buyers accelerating some contract signings due to anticipated higher mortgage interest rates in 2022. However, for the year as a whole, sales ended 7.3% lower than a supercharged 2020, as builders slowed some sales to manage ongoing building material and labor issues affecting the housing industry.
This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.
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.
Freddie Mac has predicted that the single-family housing market will remain stable in 2022, although mortgage rates are expected to increase. A new Quarterly Forecast released by the company’s Chief Economist estimates that rising rates will lead to moderation in homebuyer demand, slightly slowing house price growth. “As mortgage rates rise, we do expect some … The post Housing Market Projected to Remain Stable appeared first on theMReport.com.
At the conclusion of its January policy meeting, the Federal Open Market Committee strongly signaled that it will undertake its first, post-covid increase of the federal funds rate in March. The Fed is tightening monetary policy in response to the highest inflation readings in nearly 40 years. These inflationary pressures have increased both consumer costs and businesses input costs, including.
Wells Fargo agreed to pay $12 million to more than 1,800 mortgage borrowers to resolve a class action lawsuit that alleged the bank’s clients had loan modifications wrongfully denied due to calculation errors in the bank’s system. A judge from the U.S. District Court for the Southern District of Ohio approved the settlement on Tuesday after a hearing between the parties.
Level up your construction business operations with these five digital forms Are you a drywall and insulation contractor that is tired of searching for a solution to elevate and enhance your business operations? Well look no further – GoFormz is your one-stop-shop solution for digital data capture, mobile forms, workflows, and much more. With GoFormz, your digital forms can look exactly like your existing paper forms (or entirely new versions) and can be used to collect new data types like Image
CHARLOTTE, N.C. and ST. LOUIS — January 24, 2022 — With Fannie Mae and Freddie Mac accepting desktop appraisals beginning in March, Incenter Appraisal Management and McKissock Learning are partnering to help appraisers update their remote inspection skills in response. The two organizations will jointly sponsor several webinars for appraisers seeking to master new remote inspection/desktop appraisal solutions, which will increasingly become requirements for their success.
In early 2018, only 16% of home buyers expected that finding a home would be easier in the months ahead. The share soared during the early phase of the pandemic, reaching 36% by the end of 2020. But in 2021, buyers’ perceptions of housing inventory worsened throughout the year, and by the fourth quarter, only 24% expected easier availability ahead.
I have been a happy camper lately, particularly with the rise of the 10-year yield as I am seeking balance in the housing market. I love these times in the market and the San Francisco 49ers are making an epic run in the playoffs, so what else can a person ask for? Other people might not be as happy as I am. I retired in 2020 from the mortgage business after 24 years, so I understand how some people who were floating their rate lock might not feel this way.
First Time Home Buyer Guide Raleigh, NC Buying a house for the first time is a big decision, so you want to make sure you are ready as a first time home buyer. That is what prompted us to create this first time home buyer guide filled with tips, tricks, programs, grants, and all the steps involved in the home buying process. Buying a home doesn't mean you need a 20 downpayment.
HUD awarded $51.4 million in grants to support housing counseling programs, partnerships with minority-serving institutions, and training. The post HUD Awards Housing Counseling Funding to Offset Pandemic Impact appeared first on theMReport.com. The post HUD Awards Housing Counseling Funding to Offset Pandemic Impact appeared first on Appraisal Buzz.
Thanks to a surge in residential investment during 2020 and ongoing strength in 2021, housing’s share of GDP remains elevated compared to most of the post-Great Recession period. Due to the pandemic, market conditions evolved with a renewed focus on the importance of home, a shifting geography of housing demand, and a lack of for-sale inventory. Housing continued to expand.
There are some interesting trends that have come out of the boom years of 2020 and 2021. The realignment of the mortgage industry should make us all rethink how we look at lenders by category. Rather than looking at bank-owned mortgage companies and independent mortgage companies, perhaps we should think of new categories. For example, there are nonbank mortgage banking companies that are not truly independent.
Discover how GoFormz users are leveraging conditional logic forms to gather better data, faster Digitizing your work forms can drastically improve your operation’s data entry. Digital forms not only provide a more professional, modern means of documentation but also allow form builders to ensure information is entered more completely and accurately.
The results of Freddie Mac ’s Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.55%. “Following a month-long rise, mortgage rates effectively stayed flat this week,” says Sam Khater, Freddie Mac’s chief economist. “Recent rate increases have yet to significantly impact purchase demand, as history demonstrates that potential homebuyers who are on the fence will often enter the market at the start of rate increase cycles.”.
The share of adults planning a home purchase within 12 months has fallen for two consecutive quarters, going from 17% in the second quarter of 2021, to 16% and 15% in the third and fourth quarter of the year, respectively. The downward trend provides evidence that higher home prices and low housing availability (relative to demand) are leading some Americans.
Consumer advocates, fair housing groups, banks and mortgage lenders don’t always play on the same team, but today they joined forces to critique the Federal Housing Administration ’s proposed servicing defect taxonomy. In a joint letter to Lopa Kolluri, FHA’s principal deputy assistant secretary, the American Bankers Association , Americans for Financial Reform Education Fund , Center for Responsible Lending , Consumer Action , Housing Policy Council , National Consumer Law Center , Nation
The Appraisal Subcommittee, because they were directed to do so, has produced a report, which frankly and explicitly lays the blame for low market values of homes in ‘communities of color’ directly at the feet of independent appraisers involved with mortgage lending. You will start seeing accusatory slanted media reports about this report. ABC news already has distributed it.
While roughly twice as many foreclosure sales occurred within the month as compared to December 2020, there were only one-third as many as in pre-pandemic December 2019. Given the large volume of borrowers who’ve exited forbearance protections in recent months, the industry are keeping a close eye on foreclosure metrics moving forward in 2022.
The digital forms that every veterinary clinic needs to improve business operations During physical examinations, there are a variety of forms that veterinarians and technicians use for an animal’s medical records. Outdated processes like printable vet forms can lead to messy and disorganized data entry. This can be a significant administrative burden for your veterinary technicians and cause inefficient workflows of data collection and storage.
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