Tuesday’s new home sales report missed expectations and had negative revisions, which isn’t surprising given this sector of our economy simply can’t handle higher mortgage rates. The housing market is in a recession, something that the homebuilders and the National Association of Realtors now agree with me on, as this recent CNBC clip shows. This […more]
The Federal Housing Finance Agency (FHFA) on Tuesday announced its plan to establish a federal advisory committee on affordable, equitable, and sustainable housing. The committee will offer advice and input on affordable, equitable, and sustainable housing needs and regulatory or policy changes that might be needed, the FHFA said in a statement. “The formation […more]
Desktop appraisals became a permanent option for certain loans earlier this year. HousingWire recently spoke with Kenon Chen, Executive Vice President of Corporate Strategy at Clear Capital, about desktop appraisal adoption and appraisal modernization. HousingWire: Desktop appraisals became a permanent option for certain loans in March 2022. How willing are appraisers to adopt desktop and […more]
Property services provider SingleSource Property Solutions is now offering its own attorney opinion letter product, according to an announcement on Monday. SingleSource has launched its “Attorney Conclusion of Title” (ACT), a standardized attorney opinion letter. The product is available nationwide. According to SingleSource, under the authority of the supreme court of the state where the […more]
Having dropped 5.4 percent in June, the seasonally adjusted pace of existing-home sales across the U.S. dropped another 5.9 percent in July to an annual rate of 4.81 million sales, representing the twelfth straight month with a year-over-year decline in sales; the largest year-over-year decline in sales (20.2 percent) since the pandemic hit; the slowest […more]
It will get worse for the housing market – and mortgage industry – before it gets better. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week. “Housing remains clearly on the downtrend — and has been for several months now — due to the […more]
If you are joining us at HW Annual Oct. 3-5, make the most out of your trip by also joining us for the Marketing Leaders Success Summit. Kicking off HW Annual, this summit will be packed with the marketing insider tips and tricks you need to take your business to the next level. Below are […more]
July was another rough month for homebuilders, with mortgage applications for new home purchases dropping 16.1% from a year ago, according to the latest Mortgage Bankers Association‘s builder application survey. Compared to June 2022, applications decreased by 7%. “Mortgage applications to purchase newly built homes weakened in July, as prospective homebuyers continue to delay decisions […more]
In early May, Intercontinental Exchange (ICE), a diversified information technology company, announced that it was about to acquire Black Knight, a major provider of software that is used to service mortgages. If this were to occur, the impact on the mortgage and housing markets would likely be profound. ICE currently provides loan origination software (LOS) […more]
A famed midcentury modern property in Carmel, CA, known as the Butterfly House has landed on the market for $40 million.