Top Headlines
Florida Realtors Award $242K in Scholarships
All the scholarship recipients are Florida residents. Continue Reading Florida Realtors Award $242K in Scholarships
Did a Russian Ransomware Gang Breach the Federal Reserve?
Cybersecurity experts are skeptical that any attack transpired. Continue Reading Did a Russian Ransomware Gang Breach the Federal Reserve?
NAR Receives Preliminary Approval of Sitzer/Burnett Settlement Agreement
A final approval hearing on the settlement will take place in November. Continue Reading NAR Receives Preliminary Approval of Sitzer/Burnett Settlement Agreement
Guest Opinion: How You Might Look at Recent Data
We are all looking at the same data, but it is easy to come away with different conclusions. Continue Reading Guest Opinion: How You Might Look at Recent Data
Investment Firm Acquires Kinexx Modular Construction
Kinexx will operate as a subsidiary of LaPhair Capital Partners, with Scott Upshaw as its new CEO. Continue Reading Investment Firm Acquires Kinexx Modular Construction
Worst Housing Affordability” since 1991 excluding Bubble; Real House Prices and Price-to-Rent Ratio in April
Source: Calculated Risk Blog --- I’ve put together my own affordability index - since 1976 - that is similar to the FirstAm approach (more of a house price index adjusted by mortgage rates and the median household income). I used median income from the Census...
What Is a 10-Year Adjustable-Rate Mortgage?
Source: Nerdwallet --- A 10-year adjustable-rate mortgage offers a fixed rate for the first 10 years of the loan. After that, the interest rate resets every six months. Many homeowners opt to refinance or sell their property before the rate starts to change. So why...
Divorce and your mortgage: Here’s what to know
Source: Bankrate --- One of the biggest decisions divorcing couples face is what to do with the marital home. If the breakup is acrimonious, trying to agree on the house and the mortgage can be a nightmare. The options for divorcing couples depend on a number of...
Home Prices Still Surging, But Today’s Data is For April
Source: Mortgage News Daily --- It's one of the perennial "yeah buts" of the two largest and most widely-cited home price indices: there data is always about 2 months old by the time it comes out. This is the nature of home price reporting. It doesn't mean the data...
Metros with the most mortgage-burdened homeowners
Source: Fox 5 --- Roughly half of all Americans agree a lack of affordable housing in their city is a major problem, according to a 2021 Pew Research Center survey. Pew also found a proportion of Americans concerned about dwindling housing affordability has grown in...
Mortgage Lenders Turn ‘Desperate’ as Soaring Rates Roil Industry
Source: Bloomberg --- Danny Meier had one of the busiest years of his career in 2021. The 36-year-old closed roughly $799 million worth of loans at Academy Mortgage Corp., ranking him among the top producing originators in the US. Now, he’s bracing for a 20% reduction...
Will 40-Year Mortgages Become a Thing? Here’s What Real Estate Experts Say
Source: Apartment Therapy --- A global pandemic followed up by a looming recession is the kind of once-in-a-lifetime double whammy that can really rock your financial confidence. Now, as interest rates spike, it raises the question: Could a 40-year mortgage option...
Mortgage applications rise amid strong demand for ARMs
Source: Realty Biz News --- Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association. However, applications are still down 10%...
US housing market price correction to hit ‘coast to coast,’ economist warns
Source: NY Post --- The scorching pandemic-era US housing market is on the verge of a “coast to coast” price correction as the Federal Reserve hikes interest rates, a prominent economist warned this week. Mark Zandi, chief economist at Moody’s Analytics, said his firm...
New Home Sales Increase in May Before Fed June Rate Rise
Source: NAHB --- After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate...
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