Top Headlines
Multifamily Developer Confidence Down During Q1
NAHB Chief Economist Robert Dietz forecasted that “multifamily starts will fall 28% this year as developer activity slows.” Continue Reading Multifamily Developer Confidence Down During Q1
Anywhere, Keller Williams and RE/MAX Receive Court OK on Settlement Agreements
The companies noted the settlements are not an admission of wrongdoing or liability. Continue Reading Anywhere, Keller Williams and RE/MAX Receive Court OK on Settlement Agreements
Brick Underground, a NYC Real Estate News Site, to Shut Down
According to its website, Brick Underground publishes 20 articles and three email newsletters each week, including a newsletter for New York City’s real estate agents. Continue Reading Brick Underground, a NYC Real Estate News Site, to Shut Down
RPM Living Expands into Nashville and Las Vegas Markets
“Expanding our footprint purposefully and strategically allows us to stay one step ahead of the competition,” said CEO Jason Berkowitz. Continue Reading RPM Living Expands into Nashville and Las Vegas Markets
Coleen Bogle Joins The Money Store as Chief Marketing Officer
She previously served as the chief marketing officer at Draper and Kramer Mortgage Corp. Continue Reading Coleen Bogle Joins The Money Store as Chief Marketing Officer
The U.S. is the country most vulnerable to a new financial crisis, Nomura warns
Source: Market Watch --- Wouldn’t it be great to know when financial crises are about to happen? That’s the idea behind a new warning model created by Japanese bank Nomura, with the somewhat unfortunate name Cassandra, given the Trojan priestess of Greek mythology was...
US new home sales slump to one-year low; 30-yr fixed refinance rate hover at 3.25%
Source: Financial World --- On Wednesday, US Commerce Department data had revealed that the sales of newly built single-family homes faltered to a one-year low last month, as the median prices of newly constructed houses kept climbing in context of a flaming timber...
Nonbank Lenders Are Dominating the Mortgage Market
Source: The Wall Street Journal --- Americans took out more mortgages than ever before in 2020. Most of them didn’t come from banks. Nonbank mortgage lenders in the U.S. issued 68.1% of all mortgages originated in 2020, up from 58.9% in 2019, according to industry...
What salary you need to buy a Portland-area home, according to estimates
Source:Portland Business Journal --- A Portlander needs to earn $86,833 a year to afford a home in the metro area, a number that increased 7.5% since last year, according data from HSH.com. That puts the city at No. 11 among the most-expensive metro areas in the...
For Many Home Buyers, a 5% Down Payment Isn’t Enough
Source:The Wall Street Journal --- Would-be home buyers without big piles of cash are getting left on the sidelines. In the turbocharged housing market, prices are surging and homes on the market are routinely selling for far more than the listing price. Those who...
Think Like an Accountant
Source: Scotsman Guide --- Commercial mortgage underwriting is usually discussed in terms of asset performance, such as rents, occupancy, expenses, valuations and debt loads. But we can’t forget that traditional lenders, especially banks, also are evaluating the...
Is the appraisal process color-blind?
Source: Housing Wire --- Recently, at an event marking the 100th anniversary of the Tulsa Race Massacre, President Biden announced the launch of a new interagency task force to root out what it calls inequity in the appraisal industry. As a candidate, Biden’s campaign...
Mortgage Loans in Forbearance Dips to 4.16 Percent in U.S.
Source: The World Property Journal --- The Mortgage Bankers Association estimates there are 2.1 million homeowners in forbearance plans at the end of May 2021. The Mortgage Bankers Association latest Forbearance and Call Volume Survey revealed that the total number of...
With many Americans house rich, here are the best ways to tap your home for cash
Source: CNBC --- Many Americans are suddenly house rich. On paper, anyway. Soaring home prices have resulted in a record amount of home equity on hand. By the end of last year, roughly 46 million homeowners held a total $7.3 trillion in equity to tap, the largest...
Profit margin decline suggests mortgage bonanza is waning
Source: Housing Wire --- Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks saw an average net profit of $3,361 on each loan they originated in the first quarter of 2021, down from a reported gain of $3,738 per loan in the fourth quarter of...
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