Real Estate Industry News & Insights
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Federal Reserve Keeps Rates Steady
The target range for the federal funds rate was held at 5.25% to 5.5%.
‘Million Dollar Listing’ Star is Co-Founder of New Real Estate Media Company
Estate Media will initially offer newsletters, podcasts and online video.
Additional Reading: Top Real Estate Industry News & Headlines
Below, find popular recent real estate articles from top industry sources.
CFPB Issues Guidance on How Lenders Can Use AI Tools
CFPB Director Rohit Chopra said misuse of AI was “growing the list of potential reasons for why credit is denied.”
Tri Pointe Homes Expands Into Utah Market
Tri Pointe Homes cited Utah’s population and job growth as being a key factor in coming to the state.
Housing Starts Down in August
Single‐family authorizations in August were at a rate of 949,000, a 2% uptick from the revised July figure of 930,000.
Mortgage Machine Services launches loan origination system
The LOS also provides all-in-one eClosing functionality, including an eClose room, eNotes, eVault and remote online notarization.
Mortgage Rates Are Back on the Rise
“The reacceleration of inflation and strength in the economy is keeping mortgage rates elevated,” said Freddie Mac’s Sam Khater.
Credit Union Mortgage Originations Down 60% in Q3
Variable rate HELOCs recorded 14% year-over-year origination declines.
Mortgage-Rate Locks for Second Homes Down 19%
August is the 14th consecutive month that second-home demand is at least 30% below pre-pandemic levels.
Start-up Platform Roam Offers Mortgages as Low as 2%
Roam’s service is currently available in Arizona, Colorado, Florida, Georgia and Texas, with plans to expand into new markets soon.
Foreclosure Activity Records Uptick in August
Nationwide, one in every 4,113 housing units had a foreclosure filing last month.
Mortgage Application Activity Down Again
“Credit availability in August increased slightly but remained close to the very low levels last seen in January 2013,” said MBA’s Joel Kan.
Mortgage Rates Drop, But Remain Above 7% Mark
“For the fourth consecutive week, the 30-year fixed-rate mortgage hovered above 7%,” said Sam Khater, Freddie Mac’s chief economist.
The New Normal: Monthly Mortgage Payments of $2,000+ a Month
“Just when did the $2,000 monthly mortgage payment become the norm?” said Black Knight Vice President of Enterprise Research Andy Walden.
Redwood Trust Announces Launch of Home Equity Investment Platform
“Redwood has a history of bringing innovative solutions to the non-Agency housing market and we are thrilled to begin directly offering HEI,” said Christopher Abate, CEO of Redwood.
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A total of 33,952 residential properties had foreclosure filings in August, up 7% from the previous month but down 2% from one year earlier, according to data from ATTOM.
Nationwide, one in every 4,113 housing units had a foreclosure filing last month.
https://wrenews.com/foreclosure-activity-records-uptick-in-august/
Mortgage application activity went into decline again last week, according to data from the Mortgage Bankers Association (MBA).
The Market Composite Index, the trade group’s measure of mortgage loan application volume, was down by 0.8% #JoelKan #MBA
https://wrenews.com/mortgage-application-activity-down-again/
The Appraisal Institute has launched its Practical Applications of Real Estate Appraisal (AI PAREA) program to expand the depth and scope of the appraiser profession.
The Appraisal Foundation’s Boardof Trustees awarded a $500,000 Pathway to Success
https://wrenews.com/appraisal-institute-debuts-program-to-expand-appraiser-base/
