Top Headlines
Netflix Releases Trailer of Ryan Serhant Series ‘Owning Manhattan’
The eight-episode series launches June 28. Continue Reading Netflix Releases Trailer of Ryan Serhant Series ‘Owning Manhattan’
Eddie Garcia to Step Down as CEO at Realty of Chicago
The company has not named an interim chief executive. Continue Reading Eddie Garcia to Step Down as CEO at Realty of Chicago
Online Notarization Provider Proof Names Eric Fleischman as CTO
Fleischman was previously the CTO of Invitae, and earlier in his career he was the chief architect at DocuSign. Continue Reading Online Notarization Provider Proof Names Eric Fleischman as CTO
Biden’s State of the Union Speech to Avoid Housing and Commercial Real Estate Challenges
The Biden agenda proposes increasing the corporate tax rate to 28% and the corporate minimum tax to 21%. Continue Reading Biden’s State of the Union Speech to Avoid Housing and Commercial Real Estate Challenges
Appeals Court Restores ‘Mansion Tax’ Referendum to Chicago Ballot
Properties sold for $1.5 million or more would be forced to pay a 3% transfer tax, which is four times the current rate. Continue Reading Appeals Court Restores ‘Mansion Tax’ Referendum to Chicago Ballot
Black Mortgage Applicants Denied 84% More Often than White Borrowers
Source: Zillow --- The Black homeownership rate has rebounded modestly from recent lows, but remains below its early 2000s peak as racial disparities in the mortgage and housing markets widened throughout the early part of the pandemic, according to a Zillow analysis...
Mortgage rates surge to highest level since May 2020
Source: Fox Business --- Mortgage rates surged at the start of 2022 to the highest level in nearly two years as markets reacted to the news that the Federal Reserve is considering raising rates soon, according to the latest data from Freddie Mac. The 30-year...
A pickup in purchases or a sales slowdown? Experts split on what to expect
Source: Scotsman Guide --- Will an influx of new inventory push home sales in 2022, or will falling affordability push buyers to the sidelines and dampen activity? A new Zillow poll has revealed that economists and housing industry observers are split on where the...
Purchase loans drive mortgage applications higher
Source: Housing Wire --- Mortgage applications climbed 1.4% for the week ending Jan. 7, 2022, according to a survey published by the Mortgage Bankers Association this week. The growth was buoyed by a 2% increase in the trade group’s seasonally adjusted purchase index,...
Fear of even higher mortgage rates may be heating up winter homebuying
Source: CNBC --- Mortgage rates have moved to their highest level in more than a year, and that may have potential homebuyers nervous that their affordability window is closing faster than expected. Home prices are still gaining, and winter is historically the slowest...
States and cities with the cheapest houses in 2022
Source: The Mortgage Reports --- As home prices keep climbing, many would-be buyers are looking outside their current ZIP codes for affordable housing. The good news is, home prices aren’t rising at the same pace everywhere. If you’re looking for affordable homes in...
Mortgage delinquency rate reaches prepandemic levels
Source: Housing Wire --- Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline...
Is it too late to refinance? With mortgage rates on the rise, here are your options
Source: CNBC --- For many homeowners, the pandemic offered an unprecedented opportunity to build wealth. Those opportunities still exist, even though they are getting harder to come by. Thanks to skyrocketing housing prices, the amount of home equity is at an all-time...
12% of First-Time Homebuyers Say Selling Crypto Helped Save for Down Payment, Up From 5% in 2019
Source: Redfin--- One in nine first-time homebuyers (11.6%) surveyed in the fourth quarter said selling cryptocurrency helped them save for a down payment. That’s up from 8.8% in the third quarter of 2020 and 4.6% in the third quarter of 2019. This is according to a...
Domestic Sawmill Output Continues to Lag Home Construction
Source: NAHB Now --- With an historically low level of overall housing inventory and solid demand because of low mortgage interest rates and favorable demographics, new construction has been unable to add needed supply to the market because domestic production from...
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