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In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. However, this year, we’re seeing a different trend with the spreads: they’re improving, and mortgage rates are trending better as a result, even with the 10-year yield still above 4%.
Great news for buyers: the latest Consumer Price Index report showed that inflation is cooling—which is good—but that news came alongside a report from Redfin that monthly housing payments have also eased back from record highs hit a few months ago, making it that much sweeter for buyers. According to Redfin, the typical monthly housing payment was $2,722 mid-July, $115 lower than the all-time high which occurred in April.
Despite falling rates, homebuyer demand remains weak. Now could be a chance to make offers before inventory tightens and prices rise further, one expert says.
California Regional MLS's general counsel talks offers of compensation, seller concessions, steering and buyer agency agreements ahead of his appearance at Inman Connect Las Vegas.
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.
Higher mortgage rates have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. And higher rates are also impacting the future supply of homes, as housing permits have been in a downtrend for a while. Single-family permits fell again in today’s housing starts report. Of course, the one solution that can change the tide for this concerning downtrend is lower mortgage rates.
According to data from the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) for June 2024, the number of mortgage applications for the purchase of new homes increased by 0.7% from the previous year. The number of applications fell by 16% from May 2024. This change does not include any adjustment for typical seasonal patterns “Applications for new home purchases slowed in June, consistent with broader declines in single-family construction and new building permits as well as
According to data from the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) for June 2024, the number of mortgage applications for the purchase of new homes increased by 0.7% from the previous year. The number of applications fell by 16% from May 2024. This change does not include any adjustment for typical seasonal patterns “Applications for new home purchases slowed in June, consistent with broader declines in single-family construction and new building permits as well as
The Fed is expected to cut rates in September, which may spur buyer activity — but after Canada’s central bank cut rates for the first time in June, sales fell.
Inventory is rising again, but agents are still scrounging for new listings. Hundreds of brokers and agents shared what's working in still-tight markets in new responses from the Intel Index survey.
Artificial intelligence has taken the real estate industry by storm over the past two years and Coldwell Banker is no exception. On Thursday, the Anywhere Real Estate brand announced that it had equipped its exclusive marketing platform tool Listing Concierge with generative AI capabilities. Through this update, the firm says the platform will now allow agents and concierge coordinators to automate the generation of listing descriptions, captions of images and property attributes.
ATTOM has released its updated monthly report on U.S. Commercial Foreclosures , revealing a continued increase in commercial foreclosures over the years, from a low of 141 in May 2020, to the current figure of 647 in June 2024. Since January 2014, ATTOM has been analyzing data, a period marked by the nation’s emergence from economic uncertainty, with commercial foreclosures numbering 740 nationwide.
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.
Authenticity and genuine gratitude offer profound benefits for personal and professional relationships and well-being, broker and coach Aaron Hendon writes.
After slamming the California Association of Realtors (CAR) for a draft of its buyer representation agreement, the Consumer Federation of America (CFA) on Tuesday released its proposed criteria for evaluating buyer representation agreements. The CFA said the proposed criteria was created after the group received requests from several unnamed real estate companies.
According to Fannie Mae’s most recent Home Price Index (HPI), single-family home prices increased 6.9% year-over-year during the second quarter, a pullback from the first quarter’s growth rate of 7.3%. On a quarterly basis, home prices rose a seasonally adjusted 1.3% in the first quarter of 2024, down from the revised 2.0% growth during the first quarter of 2024.
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.
The industry has weathered many storms, and through it all, has grown and thrived. So can agents. Jay Thompson shares 4 ways to leverage the changes ahead.
Housing affordability will remain an issue at the forefront of the upcoming presidential election, where swing states will determine the next president and the future of housing costs.
Is it darkest before the dawn? If we look at the housing market right now, sales are down, new listings are down and prices are decelerating. But if we look at the data right now, things look the most bullish they’ve been all year. Good inflation data came in last week, the bond market rallied and mortgage rates took a notable dip below 7% for the first time in months.
According to the most recent Leading Indicator of Remodeling Activity (LIRA) from the Joint Center for Housing Studies (JCHS) , homeowner spending on upgrades and repairs is anticipated to increase through the first half of 2025 following a slight decline. According to the LIRA, through the second quarter of 2025, the yearly drop in spending on owner-occupied home maintenance and improvements is projected to only slide -0.5%.
A new report shows major drops in international purchases of U.S. real estate, at a time when legal efforts to restrict buyers from certain countries ramped up.
Is it still impolite to talk about politics? Maybe not, and social media expert Jessi Healey says talking about it might gain you more followers than you think.
Mortgage applications to purchase new homes fell 16% month over month in June but rose 0.7% year over year, according to a report released Thursday by the Mortgage Bankers Association (MBA). The data, derived from the trade group’s survey of homebuilders, is “consistent with broader declines in single-family construction and new building permits as well as typical seasonal patterns,” according to Joel Kan, vice president and deputy chief economist at the MBA.
This piece originally appeared in the July 2024 edition of MortgagePoint magazine, online now. The popularity of manufactured housing has ebbed and flowed over the last several decades, after striking an all-time high on shipments in the early 1970s. Since taking a dip in 2009, there has been a slow, but steady climb with more than 100,000 manufactured homes shipped in 2021, and a post-recession high reached in 2022 with 112,000 manufactured homes shipped, according to a 2023 report by the Joi
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Who you knew was important when I was a trainee. What you knew was simple: compare comps. Find some comps. Make adjustments. Or — avoid adjustments. (My expert MAI trainer said “if you make adjustments, then the other attorney will ask you how you got the number.” “Just say better, worse, or similar!) Finding comps […] The post Who You Know or What You Know?
There is no escaping the reality that the recent NAR/Sitzer/Burnett settlements is already changing the real estate world as we know it. Amongst the most substantial terms of that agreement is a blanket ban on the requirement that agents subscribe to MLSs to offer or accept compensation for their work. There has been quite a bit of discussion already about how this will impact the traditional residential purchase.
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The FCC announced on Tuesday a plan to help consumers identify and block AI-generated robocalls. The plan, if passed, could impact a key part of real estate agents' lead generation methods.
“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.” This is the conclusion of a new report published by the Center for Public Enterprise , a nonprofit organization that promotes the expansion of public sector projects.
Updating a survey that was previously conducted in 2015, 2018, and 2023, Fannie Mae released the results of a consumer survey that uncovered opportunities to close knowledge gaps around mortgage qualifications and underscored the need to continue to improve education around the mortgage buying process. While knowledge of the mortgage process is a mixed-bag amongst most consumers, Fannie Mae—and the industry at large—can help close that knowledge gap by making the mortgage process more intuitive
High mortgage rates, which increase the cost of buying, should push prices down — right? But the relationship between rates and home prices isn’t that simple.
Homebuilders exhibited little optimism as the housing market showed little improvement month-to-month, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today.
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