Top Headlines
Survey: Nearly Half of Americans Struggling to Maintain Financial Stability
“A large segment of the American public feels it is financially behind the eight ball,” said Monmouth University’s Patrick Murray. Continue Reading Survey: Nearly Half of Americans Struggling to Maintain Financial Stability
CFPB Proposes $3.95 Million Fine Against Freedom Mortgage Corporation
“Freedom Mortgage is a repeat offender,” said CFPB Director Rohit Chopra. Continue Reading CFPB Proposes $3.95 Million Fine Against Freedom Mortgage Corporation
Stewart Acquires All New York Title Agency
The financial terms of the acquisition were not announced. Continue Reading Stewart Acquires All New York Title Agency
Guest Opinion: The New York Fed Chief’s View of the Economy
We’re not seeing the types of risks in housing finance that we saw during the housing boom before the 2007-2008 financial crisis. Continue Reading Guest Opinion: The New York Fed Chief’s View of the Economy
Residential Sales Begin on Manhattan’s New 1,000-Foot Mixed-Used Tower
Pricing for current residential availability at 520 Fifth Ave. starts at $1.7 million. Continue Reading Residential Sales Begin on Manhattan’s New 1,000-Foot Mixed-Used Tower
Housing Market Update: Nearly 1 in 5 Sellers is Dropping Their Price, the Highest Rate Since October 2019
Source: Redfin --- Measures of homebuying competition are plateauing as early-stage demand posts its biggest annual decline since April 2020. However, mortgage rates may have leveled off, which could prevent demand from dropping even further. The housing market is...
The housing market just slid into a full-blown correction, says top economist Mark Zandi
Source: Fortune --- Moody's Analytics chief economist Mark Zandi is ready to call it. He tells Fortune that we've officially moved from a housing boom into a "housing correction." The real estate data rolling in for April and May shows that the U.S. housing market is...
Prequal, Profitability, Due Diligence, Underwriting Tools; FHFA News: Appraisal Management
Source: Mortgage News Daily --- Yesterday I visited Sacramento to speak to an audience of real estate agents and originators in a joint MGIC/Golden 1 Credit Union event. The mood was good, and much of the discussion was about rent (give or take a little, 50 percent...
‘A challenging mortgage market environment’: IMB profits plummet in first quarter
Source: Scotsman Guide --- Independent mortgage banks and mortgage subsidiaries of chartered banks posted a net gain of $223 on each loan they originated in the first quarter, according to the latest Quarterly Mortgage Bankers Performance Report from the Mortgage...
U.S. New Home Sales Dive 27 Percent Year-Over-Year in April
Source: World Property Journal --- According to the National Association of Home Builders, in a further sign of a housing slowdown, new home sales posted a double-digit percentage decline in April 2022, falling to their weakest pace in two years, as rising mortgage...
Why Utah housing market is ‘very low risk’ for price drops — while other parts of the West are ‘high risk’
Source: Deseret --- As rising mortgage rates continue to put pressure on the U.S. housing market and the entire economy, economists and housing researchers are seeing early signs of a cooling market — but a question remains. Is a widespread correction coming to what...
Mortgage apps decline 1.2% despite drop in rates
Source: Housing Wire --- Despite a decline in mortgage rates last week, mortgage application volume was down 1.2% on a seasonally adjusted basis for the week ending May 20. The decline, as measured by the Mortgage Bankers Association’s (MBA’s) Market Composite Index,...
Brokers are better than Banks
Debbie Bloyd is a contributing author to Weekly Real Estate News and can be contacted at 469-768-0337 or [email protected] Brokers are better than banks because we have more options. Brokers are better than banks because we have a vested interest in our...
Sales of newly built homes tumbled over 16% in April while prices soared
Source: CNBC --- Sales of newly built homes dropped 16.6% in April from March, far more than expected, and were down 26.9% from April 2021, according to the U.S. Census. The annualized rate came in at 591,000 units, seasonally adjusted. Analysts had been expecting...
How lenders can improve business models in 2022
Source: Housing Wire --- HousingWire: Between interest rate hikes, tight housing supply and geopolitical uncertainty, many industry professionals are feeling the pressure of a volatile housing market. Why is now a good time for lenders to focus on improving aspects of...
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