These Places Pay You to Move There
Some places, in need of fresh blood and a greater tax base, will actually pay you to move there, according to Redfin. An April report from the company lists several states and cities willing to help with moving expenses and other costs.
September 10th, 2023
Short U.S. housing correction likely over; tight supply to keep prices high: Reuters poll
A short U.S. housing market correction is now over, according to property analysts polled by Reuters who have wiped out forecasts for a price fall this calendar year but also look for stagnation in 2024 despite expectations for interest rate cuts.
September 7th, 2023
CFPB reaches $2.7B settlement with credit repair conglomerate
The settlement could impose nearly $3 billion in judgments against Lexington Law, CreditRepair.com and others
September 5th, 2023
US 30-year mortgage rate soars to highest since 2000
Aug 23 (Reuters) – The interest rate on the most popular U.S. home loan last week shot to the highest since December 2000, helping drive mortgage applications to a 28-year low, a survey showed on Wednesday.
August 23rd, 2023
Fannie, Freddie step up scrutiny for condo mortgages: Here’s what that means for buyers
Fannie Mae and Freddie Mac rolled out new rules cracking down on condo and co-op loans following the 2021 partial collapse of a Surfside, Florida, condo tower.
August 8th, 2023
Seven Reasons Why the Entire Mortgage Market Should Care About the Basel Capital Proposal
In late July, the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) issued interagency proposed changes to capital requirements for banks with assets of $100 billion or more.
August 7, 2023
Sales Compensation: Do You Get What You Pay For?
Lenders still have too much overhead to spread across far fewer loans, and even a “scorched earth” reduction in management and support positions doesn’t seem to be enough to turn the profitability tide. – STRATMOR Group
July 31, 2023
How climate change could cause a home insurance meltdown
Over the past two years, several big insurers, including Allstate and State Farm, have scaled back their home insurance businesses in California to avoid paying billions for wildfire damage, or have halted sales of new policies altogether.
July 22, 2023
U.S. banks increase reserves for commercial real estate exposure
The U.S. commercial property market has faced severe challenges since the pandemic due to lingering office vacancies, diminished retail activity and higher interest rates. That stress has caused banks and other lenders to tighten their standards for new loans and scrutinize existing ones.
July 21, 2023
Many mortgage lenders are like frogs in a slow boil
They have to find a way to jump out of the heat, or they won’t survive, M&A experts contend
July 19, 2023
DataDigest: The staying power of the new New South
The growth is real – how sustainable is it?
July 19, 2023
10 Biz Development Leaders Discuss Which Lead Magnets Work For Them (And Why)
“Creating and producing a podcast has proven to be fantastic for our business and the businesses of our coaching clients.” – Dustin Owen
July 17, 2023
DataDigest: There are too many real estate agents and LOs. It’s a problem
There are over a million unproductive agents in America, and most LOs aren’t productive enough to justify their costs
July 13, 2023
Morningstar makes a bold call that housing market affordability will be restored by 2025
The average 30-year fixed mortgage rate will fall to 4.00% by 2025, predicts Morningstar.
July 9, 2023
18 Key Factors For Business Development Teams To Drive Product Growth
“Offer Your Product In Conjunction With A Similar, Not Competing Product From Another Business” – Dustin Owen
July 3, 2023
Five reasons why we won’t see a housing market crash in 2023
The affordability crisis is going to play a significant role this year.
June 30, 2023
The US is short more than 4 million homes
Americans seeking to move out on their own outnumbered available housing by almost 2 to 1 in 2021.
Read Article
June 23, 2023
Stop Overthinking Online Networking
“My “aha” moment came when I started to compare why one should attend traditional networking events to how networking online is much the same yet less cumbersome.” – Dustin Owen
June 21, 2023
Mortgage rate relief won’t come until end of 2023 (or later), housing economists say
Prospects for a rate cut this year look unlikely at this point.
June 15, 2023
Homes for sale are in short supply. Here’s where inventory has dropped the most
It’s getting tougher for house hunters to find a home to buy, particularly in large cities, as the housing industry faces a dearth of inventory.
June 1, 2023
CPI report is good news for mortgage rates
Shelter inflation is cooling and the 10-year yield looks like it peaked last year
May 12, 2023
Survey Finds Current Market Conditions Are Not a Huge Deterrent for Buyers
According to Bank of America’s new 2023 Homebuyer Insights Report, many hopeful homebuyers – especially those in their 40s and younger – are forging ahead with plans to buy homes despite believing the market favors sellers.
May 10, 2023
It’s time for a coherent policy on mortgage pricing
Housing policy has been thrust into the center of the culture wars.
May 8, 2023
Uncle Sam Targets Pay-to-Play
Bad actors reported by financial institutions seeking level playing field
May 1, 2023
DataDigest: Correcting the LLPA false claims
There’s a lot of false claims to dispel, but make no mistake – updates to the GSEs’ pricing framework are a tough pill to swallow for the mortgage industry
April 26, 2023
FHFA Director Thompson speaks out to correct LLPA misinformation
“Higher-credit-score borrowers are not being charged more so that lower-credit-score borrowers can pay less,” Thompson says
April 26, 2023
No, there aren’t more cash buyers in real estate these days
The number of applications for conventional purchase loans was down nearly 40% in mid-April from the same time last year, according to the Mortgage Bankers Association.
April 25, 2023
5.5% may be a magic number for mortgage rates
Home buyers have proved to be mortgage rate sensitive, with home sales over the past year tanking as rates have surged, and improving during periods when rates have ticked down.
April 21, 2023
Millennials became homeowners later than their parents and grandparents. Here’s why.
Millennials are now a homeowner-majority generation — a milestone achieved amid a global pandemic and an unsteady housing market.
April 13, 2023
Early-Stage Homebuying Demand Hits Highest Level Since May
For independent mortgage bankers who survive the ongoing culling, the new normal unfolding looks much brighter, industry experts say
April 3, 2023
Early-Stage Homebuying Demand Hits Highest Level Since May
Redfin says its Homebuyer Demand Index jumped to its highest level since last May.
April 3, 2023
Opinion: Stop speaking mortgage to your clients
Learn to speak your client’s language.
March 20, 2023
Remodeling ROI Not Always Great
Bathrooms are receiving a lot of attention from homeowners who are staying put rather than braving a housing market beset by high prices and climbing mortgage rates.
March 17, 2023
Mortgage rates drop in wake of bank failures
Mortgage rates dropped this week in the wake of several bank failures, reversing course after rising half a percentage point over the past month.
March 16, 2023
What LOs need to know about using ChatGPT
To put it in layman’s terms: ChatGPT is a free online tool you can use to generate writing.
March 15, 2023
FHFA delays implementation of LLPA DTI fees
Sandra Thompson sets new deadline of Aug. 1 but says post-purchase price adjustments won’t affect any loans originated in 2023.
March 15, 2023
The uptick in housing activity will be temporary: Fannie Mae
Fannie Mae expects a modest recession starting in Q2 2023
February 21, 2023
Smaller nonbanks facing “come to Jesus moment” as MSR values dip
FHFA issues advisory mandating third-party valuations of MSR assets
February 14, 2023
Opinion: New LLPA changes represent noble effort, but wrong approach
There are other ways to help first time homebuyers and minority buyers without violating the principles of risk based pricing
February 6, 2023
MBA urges removal of DTI-based LLPA
Monthly income, debt payments often change during the loan process and will be difficult to provide an accurate rate to borrowers: MBA
February 6, 2023
Are We in a Housing Recession?
A housing recession occurs when there is a slowdown in market activity; it’s usually characterized by a decline in housing starts and home sales and an increase in sales contract cancellations, among other factors.
January 23, 2023
Some BIG Changes to Mortgage Costs Were Just Announced
In a single moment, the fees for a vast majority of new mortgages in the US have changed. In some cases, the changes are drastic, both for better and worse.
January 19, 2023
Rocket CEO says housing isn’t a buyer’s or a seller’s market. Now it’s even
The buyer has a little bit more power or control on their side.
January 13, 2023
Mortgage rates have peaked along with inflation
The CPI data cooled even though shelter inflation is lagging.
January 12, 2023
When Will Housing Prices Drop?
Home prices are down month-over-month but still up year-over-year annually. Here’s what you should know about home prices and the other ways they can change.
January 12, 2023
Here’s what to expect in the housing market this year
Last year was a wild ride in the US housing market. Mortgage rates doubled and sales plummeted, triggering the longest month-to-month slump on record.
January 7, 2023
Mortgage rate watchers are closely tracking the labor market
With inflation growth rate falling slowly, employment data is now “very key” for 2023.
January 7, 2023
Mortgage interest rates expected to drop in 2023
After home financing costs nearly doubled in 2022, some relief is in sight for potential homebuyers in 2023.
January 7, 2023
Logan Mohtashami’s 2023 housing market forecast
Housing went into a recession in June and mortgage volume fell off a cliff. So where does all that drama leave us for 2023?
December 23, 2022
Have we found the bottom in existing home sales?
Today’s data show a big collapse in demand, but forward-looking application data has gotten better.
December 23, 2022
Here’s How Many Homeowners Could Be Stuck With ‘Underwater’ Mortgages in 2023
Some recent buyers may find themselves in the predicament of being underwater on their mortgages.
December 20, 2022
The Worst Is Over for Mortgage Rates Despite Another Fed Hike
The Federal Reserve raised interest rates this week, but that doesn’t mean mortgage rates are going up.
December 14, 2022
Dave Stevens on understanding this housing market
5 things loan originators need to remember
December 6, 2022
The housing market downturn is different this time
Low delinquency rates and healthy household net worth point to faster recovery
November 30, 2022
Economists: Inflation May Have Peaked
CPI slipped to 7.7% in October, the smallest YOY increase since January.
November 15, 2022
Home equity line of credit and home equity loans
Homeowners are sitting on an estimated $20 trillion worth of home equity, boosting the demand for home equity lines of credit and home equity loans.
November 15, 2022
Housing market will lead us into a recession, and will lead us out
Mortgage rates won’t move much higher than they are now, economist says
November 4, 2022
Is the US headed toward a housing crash?
Sharply rising mortgage rates, a steep decline in home sales and a record price slowdown have raised concerns that the housing market could crash.
November 1, 2022
Zillow: Homes Still Lingering On The Market
Zillow says that since homes are staying on the market longer, sellers need to appease to potential buyers.
November 1, 2022
What the midterm elections mean for the housing market
A new report by Cowen lays out the implications of the November midterms for the housing market.
November 1, 2022
Will millennials ever be able to buy a house?
Will millennials ever be able to buy a house?
October 18, 2022
3 charts showing that we’re not repeating the housing bubble
Mortgage rates have surged to their highest level since October 2008.
September 27, 2022
Home-buying Strategies in a Changing Market
Despite current challenges, the right tools can enable buyers to land a property.
September 14, 2022
Homebuyers Might as Well Take the Plunge
Affordability isn’t going to get any better as shrinking inventories ensure prices will rise even if mortgage rates eventually fall.
September 14, 2022
The Overcapacity That Still Needs To Be Cut
How many mortgage industry layoffs need to happen to balance out falling origination volume?
September 6, 2022
Housing Economists: Mortgage-rate Volatility
Some housing economists aren’t expecting another big surge in mortgage rates now or in the coming months.
August 4, 2022
Condo Buying Challenges
Real estate agents, condo associations and mortgage brokers say the new rules from Fannie Mae and Freddie Mac are having a chilling effect on the market.
July 20, 2022
Interactive Rate Chart
Interactive historical chart showing the 30 year fixed rate mortgage average in the United States.
June 17, 2022
Why FHFA and GSEs should revisit their pricing framework
Recent pricing changes to high-balance loans and second homes deserve reconsideration.
June 3, 2022
Proposed VA appraisal law looks to even the playing field
The piece of legislation would allow for desktop appraisals, and in some circumstances, wave appraisals all together.
June 3, 2022
Future of Condo Lending
Watch the video in the link below to learn more about the future of condo financing from Fannie Mae.
May 25, 2022
Qualifying with Medical Collections Just Became Easier
Debts that are paid off after they go to collections will be removed, instead of staying on credit reports for up to seven years, Equifax, Experian and TransUnion announced.
March 21, 2022
What Home Prices Will Look Like In 2023
Heading into 2022, there was a broad consensus in the real estate industry that home price growth would decelerate significantly this year. But just over two months into the new year, some of those same firms are walking back their 2022 forecasts. Zillow was forecasting that home price growth—which was up 18.8% between December 2020 and December 2021—would decelerate to 11% growth this year. Then last month, Zillow revised that rate up to 17.3%.
March 9, 2022
The True Cost of Homeownership
For many Americans, homeownership conjures thoughts of comfort and financial security.
But that optimism can evaporate if a first-time home buyer isn’t prepared for unexpected costs. Among the 1,000 homeowners we surveyed, 52% admit the true cost of owning a home surprised them
February 25, 2022
How The 10-Year U.S. Treasury Note Impacts Mortgage Rates
Historically, the 10-year U.S. Treasury yield has been considered a key benchmark for mortgage rates. However, mortgage rates are not actually based on the 10-year U.S. Treasury note (as is commonly believed).
Fixed mortgage rates and Treasury yields generally move together. Why? As a fixed-rate asset, mortgage-backed securities (MBS) are in direct competition with Treasury instruments for investor money.
February 17, 2022
40% Of Americans Are Considering A Move In 2022
Plenty of Americans are expected to move in 2022, seeking more space to accommodate their new remote working lifestyle. Nearly half of these on-the-go consumers hope to realize their homeownership dreams, according to the latest LendingTree survey. Over 50% of them say they need a Fido-friendly house, while a little less than half require outdoor space to call their own.
LendingTree surveyed 2,100 U.S. consumers to ask about potential relocation plans, refinancing and renovation aspirations for 2022. The key takeaway from the survey was about 40% of Americans are considering a move in 2022.
February 9, 2022
Fixed Mortgage Rates Hit 20-Month High
What a difference a year makes. One year ago this week, the 30-year fixed mortgage rate sank to its lowest level in history. This week, fixed mortgage rates followed long-term bond yields and rose to their highest levels in 20 months.
January 6, 2022
Lender Letter
This Lender Letter provides information about changes to loan-level price adjustments (LLPAs) that will apply to second home and high-balance loans.
January 6, 2022
Human Lenders Are More Valuable Than Ever
The Mortgage Bankers Association (MBA) estimates that lenders helped home buyers with $1.6 trillion of loans in 2021.
January 5, 2022
