Real Estate News & Insights
DC-Area Brokerage Reverie Residential Expands to Southern New Hampshire
The brokerage has focused on the District of Columbia, Northern Virginia, and Maryland since 2011. Continue Reading DC-Area Brokerage Reverie Residential Expands to Southern New Hampshire
ECGI Holdings Signs LOI to Acquire Mortgage Lender RezyFi for $30 Million
“This acquisition positions ECGI to bridge the gap between traditional mortgage lending and next-generation financial technology,” said Jamie Steigerwald, president of ECGI Holdings. Continue Reading ECGI Holdings Signs LOI to Acquire Mortgage Lender RezyFi for $30 Million
More of Your Paycheck Is Going to Pay Rent. Which Cities Are Keeping Pace?
Source: The New York Times --- With skyrocketing rents, landlords aren’t just taking more of your cash — they’re spending more of your time. The typical full-time employee in the United States worked nearly 63 hours in October to pay an average rent of $2,040 — almost...
Bank of America CEO predicts two years of pain ahead in the housing market
Source: CNN Business --- New YorkCNN Business — The CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.” Bank of America (BAC) CEO Brian Moynihan said in an...
Wait, What? Wharton Professor Jeremy Siegel Says The Housing Market Is Going To Do This
Source: Yahoo! --- Jeremy Siegel, a professor at Wharton, predicts that the housing market will see negative growth as a result of future Federal Reserve interest rate increases that will raise mortgage rates even further. Due to the average rate for a 30-year fixed...
Real Estate Trends: Are We Headed For Another Housing Market Crash?
Source: Forbes --- Key takeaways Many industry leaders, including Goldman Sachs, have altered their predictions for the housing market since early Fall 2022. While mortgage rates have dropped over the past several weeks, they’re not likely low enough to impact...
Millions of housing units are needed in the US
Source: The Real Deal --- One of the biggest reasons affordable housing isn’t available in the most expensive cities in the U.S. is because those localities aren’t permitting enough homes to be built in them, the Atlantic reports. Some areas have allowed housing to...
Mortgage Applications Increase After Dip in Mortgage Rates
Source: Mortgage Orb --- A decrease in mortgage rates resulted in mortgage application volume increasing 2.2% during the week ended November 18. According to the Mortgage Bankers Association’s Weekly Applications Survey, applications for refinances increased 2%...
FHFA Announces Increase Conforming Loan Limit to $726,200
Baseline Conforming Loan Limit Will Increase to $726,200 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In...
Where tighter monetary policy hits homeowners hardest
Source:Axios --- As central banks around the globe rapidly raise interest rates, policymakers outside the U.S. may find they pack more punch in terms of curbing demand. The reason boils down to the unique way Americans finance their homes. Why it matters: Americans...
Real Estate Entrepreneur Educates With Strategies For The Wholesale Market
Source: Forbes --- Financial literacy is a top priority for students looking to graduate high school prepared for real-world responsibilities. However, according to a CNBC report, there are no federal guidelines for teaching personal finance inside schools. While...
MLO recession survival guide Part 2: Buyers’ agents and underwater home sellers
Source: firsttuesday Journal --- Consumer mortgage originations plummet — so what now? The rapid mortgage interest rate hikes of 2022 caught homebuyers and sellers completely off balance. With prices toppling traditional sales volume and mortgage rates essentially...
