Existing home sales in August were down 0.7% from July to a seasonally adjusted annual rate of 4.04 million, according to data from the National Association of Realtors (NAR). Year-over-year, sales dropped by 15.3% from the 4.77 million recorded in August 2022. While...
There was good news on the application front last week, according to the latest data from the Mortgage Bankers Association. The Market Composite Index, the trade group’s measure of mortgage loan application volume, was up by 5.4% on a seasonally adjusted basis from...
August’s home sales were up 7.4% from July but were down 13.1% from August 2022, according to new data from RE/MAX (NASDAQ:RMAX). Of the 50 metro areas surveyed by RE/MAX, only two markets recorded a year-over-year sales increase: Bozeman, Montana, at 12% and Dover,...
The Consumer Financial Protection Bureau (CFPB) has issued a guidance related to legal requirements that lenders must follow when using artificial intelligence (AI) and other complex models. The CFPB noted that creditors often use complex algorithms with large...
The total number of mortgage loans now in forbearance fell by 6 basis points month-over-month to 0.33% as of Aug. 31, according to data from the Mortgage Bankers Association (MBA). Roughly 165,000 homeowners are currently in forbearance plans. During August, the share...
The homebuilder Tri Pointe Homes (NYSE: TPH) is expanding its footprint with the opening of a new division in Utah. The Incline Village, Nevada-headquartered company will base its Utah operations in the greater Salt Lake City region. Tri Pointe Homes cited Utah’s...
Hits and Misses for the Real Estate Week of May 11-15
