Housing Wire
AUGUST 6, 2024
The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. At HousingWire ‘s Mortgage Rates Center on Tuesday, the 30-year conventional loan rate averaged 6.8% — a new low point for 2024 that was just below the 6.83% figure to start the year.
Keeping Current Matters
AUGUST 6, 2024
If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market.
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Housing Wire
AUGUST 6, 2024
Redfin CEO Glenn Kelman said Tuesday on the company’s second-quarter 2024 earnings call that he expects business to improve when the housing market speeds up after mortgage rates come down. But what is the alternative if rates don’t come down? “Great question — Plan B is drink our own urine or our competitors’ blood,” Kelman said in response to an analyst’s question during the call.
Real Estate News
AUGUST 6, 2024
The Consumer Federation of America has rolled out new guidance and is discouraging the practice of paying agents based on a percentage of a home’s sale price.
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Housing Wire
AUGUST 6, 2024
Mortgage rates are dropping fast. Will potential homebuyers jump at newly cheaper payments? Or, will they wait to see if rates drop further before taking action? Mortgage rates are now the lowest they’ve been in over a year. Last year at this time, mortgage rates were rising, eventually peaking at 8% in October 2023. That late year rise in costs really slowed the housing market.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
AUGUST 6, 2024
Home prices continue to rise even as low inventory and high mortgage rates are keeping first-time and repeat homebuyers out of the market, but the pace of appreciation is starting to cool. That’s according to CoreLogic ’s Home Price Index report, released Tuesday, which shows that annualized home-price growth in June slipped below 5% for the second consecutive month.
Real Estate News
AUGUST 6, 2024
A court filing indicates that Chicago-based At World Properties is nearing a deal in a lawsuit brought by an Illinois homebuyer.
Housing Wire
AUGUST 6, 2024
UWM Holdings Corp. , the parent of United Wholesale Mortgage , has adopted a strategy that differs from its peers to take advantage of a business landscape that is expected to include lower mortgage rates and more refinance activity. The Pontiac, Michigan-based company has opportunistically sold mortgage servicing rights (MSRs) with higher coupons to deleverage its balance sheet and invest in the origination business — for example, by offering incentives on some refi loans.
Inman
AUGUST 6, 2024
The Consumer Federation of America also tells consumers not to agree to pay an agent just to see a home, but to sign a touring agreement with no financial obligation instead.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Housing Wire
AUGUST 6, 2024
The Consumer Federation of America (CFA) and its former CEO, Steve Brobeck, have a long history of advocating for policies that protect consumers. However, in recent efforts to curb real estate professionals, the CFA has seemingly lost sight of its core purpose: advocating for those most in need of consumer protection. Ending broker cooperative compensation unfairly favors wealthier sellers and buyers.
Inman
AUGUST 6, 2024
Last week, the brightest minds in real estate converged at Inman Connect to set agents, brokers and MLS members straight on the finer points of the new rules taking effect in less than two weeks.
Housing Wire
AUGUST 6, 2024
Older Americans who seek out younger roommates to stay on top of high housing costs is not a new concept, but there is evidence to suggest that the trend is growing more popular. This is according to a recent podcast episode hosted by Boston-based NPR affiliate WBUR. Jennifer Molinsky, director of the Housing an Aging Society Program at Harvard University ‘s Joint Center for Housing Studies (JCHS), described how the idea of baby boomers seeking out roommates could be gaining favor among an
Inman
AUGUST 6, 2024
Thinking about student housing as a multifamily strategy? MZ Capital Partners’ Michael H. Zaransky, who wrote a book on investing in student housing, shares the pros and cons to consider.
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In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.
Housing Wire
AUGUST 6, 2024
Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should take place. Separately, the government has been granted additional time in court to respond to the bank’s motion for a partial summary judgment in favor of TCB , according
Inman
AUGUST 6, 2024
RentSpree’s latest reporting product is designed to help property management providers more accurately verify the income of lease applicants.
Housing Wire
AUGUST 6, 2024
Mortgage industry executives are on alert amid the global stock-market meltdown caused by fears that the Federal Reserve may have kept the federal funds rate too high for too long, which could bring the U.S. economy into recession. Tensions in the bond markets have provoked a decline in mortgage rates, which is good news for originators since they could have more demand for loans.
Inman
AUGUST 6, 2024
The company saw revenue climb 7 percent to $295.2 million between April and June, but it also lost $27.9 million — just a hair above its Q2 2023 loss.
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As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.
Housing Wire
AUGUST 6, 2024
At the start of 2024, CEO Leo Pareja did not think eXp Realty would find itself in the real estate forms business, but eight months into this year, things look a little different. In March 2024, the National Association of Realtors (NAR) settled the nationwide commission lawsuits and agreed to several business practice changes, including a mandate that buyers sign a broker representation agreement prior to going on a home tour with their agent.
Inman
AUGUST 6, 2024
Here's how team leader Carl Medford is being proactive and prepared as his team gears up for the changes that will follow the implementation of the National Association of Realtors' settlement agreement.
Housing Wire
AUGUST 6, 2024
California-based mortgage lender loanDepot reduced its financial loss in the second quarter of 2024 while still feeling the impacts of a January cyberattack. During the three-month period, the company increased its volumes and margins while implementing an efficiency program and selling mortgage servicing rights (MSRs). On Tuesday, loanDepot reported a non-GAAP adjusted net loss of $16 million from April to June, compared to a $39.5 million loss in the previous quarter and a $36 million loss in
Inman
AUGUST 6, 2024
In Q2 earnings, the nation's largest mortgage lender posted a healthy $76 million profit, paid down debt, and said it's in prime position to capitalize and grow as mortgage rates drop.
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Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.
Housing Wire
AUGUST 6, 2024
Lower continues to make moves designed to support its expansion efforts, hiring former Waterstone Mortgage executive Dustin Owen as its new divisional sales leader and senior vice president of growth. Owen, who is based in the Orlando area, spent the past 16 years at Waterstone, most recently as its vice president of Eastern division sales. In joining Lower, he will report to chief production officer Randell Gillespie to execute plans for “transforming the modern mortgage experience for consumer
Inman
AUGUST 6, 2024
Pending $25 million settlement of January cyberattack adds to $66 million second-quarter net loss, but executives say they're in a better position to grow after selling $29 billion in mortgage servicing rights.
Housing Wire
AUGUST 6, 2024
Compass CEO Robert Reffkin promised on the company’s most recent earnings call to expand market share in its top 30 markets — and the brokerage made a big move in that direction. Faisal Halum Group , a small team in Dallas, has joined Compass and adds a high-performing team to a metro area that has been very active since the start of the COVID-19 pandemic.
Inman
AUGUST 6, 2024
These Inman Connect Las Vegas panels highlighted the immense value of community and collaboration in driving our industry forward, Inside Real Estate's Stacey Soliel writes.
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