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Today, the BLS jobs report showed that the labor market is getting softer, but it’s not breaking. However, there is a limit to the downside on mortgage rates until the labor market breaks, or we get more than 1% rate cuts from the Fed. This leads us back to the private sector and residential construction jobs.
The House of Representatives in the state of Washington last week approved a bill that seeks to expedite the process of converting commercial buildings into residential complexes. House Bill 1757 extends these allowances to commercial buildings in primarily residential zones. The measure passed overwhelmingly in a vote of 95-2.
Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. What does this mean for the residential real estate sector and how business-purpose mortgage lenders are trying to expand?
Kevin Peranio , chief lending officer for Paramount Residential Mortgage Group (PRMG), lives in the Orange County area and said hes witnessed the effects of being displaced by the wildfires. Peranio is also an investor in Pacaso , a second-home co-ownership company, and said that the company is mobilizing its network to help those in need.
The labor market is showing signs of softness but is not breaking down yet, which has kept mortgage rates higher for longer. Since 2022, my guiding principle has been that the labor market is more important than inflation in determining mortgage rates. Again, the theme holds: the labor market is getting softer but not breaking.
In a changing real estate market , mortgage lenders face increasing demand. The primary and secondary mortgage markets may be separate business components, but mortgage originators must understand both businesses intimately. Originators can bring new products to market when their underwriters can avoid the associated learning curve.
The Federal Reserve didnt raise or cut interest rates today, but the meeting highlighted something I have been emphasizing since 2022: the Fed is shaping its policy around the labor market more than inflation. However, the Fed only cut rates when they believed the labor market was softening in the second half of 2024.
The 10-year yield and mortgage rates have been on a wild ride lately, even testing my top-end forecast at 7.25%, but today, the 10-year yield fell after remarks by Fed President Chris Waller about whether the Fed would do even more rate cuts than the market was anticipating. It’s not booming. It’s not falling.”
According to Market Research Future (MRF), the title insurance market is expected to grow from $4.15 Real estate boom, regulatory reinforcement A key driver of the markets momentum is the global rise in real estate transactions. billion in 2025 to $5.69 billion by 2034, equating to a compound annual growth rate of 3.56%.
Is 2025 the first year we start losing residential construction jobs? Earlier this year, mortgage rates were trending at 7.50%; during that time, we received one negative monthly residential construction labor report. Over the past two years, new home sales have significantly outperformed the existing home sales market.
After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. The current stress in the CRE and C&I loan markets further highlights the advantages of residential mortgages.
But the narrative is more complex in niche markets like the Texas capital of Austin. Social media posts have fueled speculation that Austin’s rental market is in freefall. Gerli told HousingWire in an emailed response that normalizing market conditions would be indicated by a slow and gradual decline in rents.
Interestingly, employment for residential construction workers typically one of the first areas to experience declines before a recession has not yet seen its usual downturn. The key points of this report indicate that the Federal Reserve has overlooked the housing market for years. We will soon find out.
The stock market reacted negatively to the news regarding tariffs, resulting in significant selling and a shift towards the bond market. In this week’s Housing Market Tracker , I mentioned that the 10-year yield level was stubbornly resistant and that we needed bad news to break through it.
While the unemployment rate was up compared to the start of the year, the job market ended the year up, with 256,000 jobs added to the economy in December according to data released Friday by the U.S. Residential building construction added 3,500 jobs from November, while residential specialty trade contractors added just 500 positions.
housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. I believe the concerns for the market at this point are dramatically related to geographics. Dont obsess with finding the perfect first home.
Tom Davis: When you’re working with a professional and you want expertise, you’re going to want to work with someone who is the expert in your market. Davis: Either you take market share or someone takes yours, right? Why do you think brokers should work with a specialist instead of a multi-product lender?
However, employment for residential construction workers hasnt fallen at all, even with the decline in housing starts and permits. For those looking for recession signals , a decrease in the number of residential construction workers is usually an early sign. Why haven’t the homebuilders started doing layoffs?
Now, the labor market is getting softer from its torrid pace of job creation and wage growth from 2021 to the end of 2023, but the labor market’s softening is right in line with my 2024 forecast for jobs. I’ve always believed they needed to see a significant downturn in the labor market before making a decisive pivot.
The company also notes that it will work with Stone Points leadership to expand and improve the agent branding and marketing resources as well as it offers, as well as the educational, coaching, data and technology resources it offers its franchisees, brokers and agents. During his time there he led the companys $629 million IPO.
The agreement, announced on Monday, will aim to address “critical residential housing needs across the U.S.,” The deal is an execution for captive capital, but the Wrightwell platform has the potential to assist any market participant with their real estate needs, DePalma added. according to a statement from Wrightwell. “We
housing market slowed down in the third quarter due to rising home prices and higher mortgage rates , investor purchases also ramped down, according to a new report by Redfin. ” Low-priced homes — those priced in the bottom one-third of their local market — comprised 45.7% As the U.S. Investors purchased $38.8 Miami saw a 19.4%
For the sake of simplicity, I will keep my comments restricted to residential real estate in the US. While there are many elements of this market that are extrapolatable to other markets, I will stick with what I know best. But the track record suggests that, indeed, it is simply a statement of truth.
From humble beginnings to industry leader, Stones story is one of entrepreneurial drive, a sharp eye for market dynamics and a deep-rooted belief in making the real estate process better for all stakeholders. I did residential, I did commercial, you name it. We became highly profitable in one of the worst markets ever.
RLTY Capital acquires pending residential and commercial commissions, allowing agents to access that money on an expedited timeline. The funding is led by Altriarch, a credit asset management company that invests in fragmented markets. ” RLTYco provides four primary services. RLTY Tax provides a network of CPAs.
As the 2025 spring homebuying season begins, the national housing market continues to struggle with supply shortages. But increased activity in residential construction , particularly in the South, is helping to alleviate affordability challenges in certain regions, according to ananalysis from First American Financial Corp.
While shoppers flock to malls and online retailers for Black Friday deals, M/I Homes is shifting the focus to residential real estate with holiday incentives that rival traditional doorbusters. The discounts come as homebuilders’ confidence in the market remains muted. That’s right, there are Black Friday home sales!
Todays new home sales report beat market expectations, just like last weeks existing home sales report. However, as illustrated in the chart above, whenever residential construction workers begin to lose their jobs, a recession is typically not far behind. For now, the Federal Reserve isn’t overly concerned.
1 and Sept 30 of this year based on prices for closed residential sales. Homebuyers in these locales boosted the luxury real estate market by 70%, according to the report. A recent report from real estate data provider PropertyShark ranked California , New York and Florida as the states with the most expensive ZIP codes in 2024.
In addition to the slowing job growth, the cooling labor market conditions were also evident in a 0.2 When broken out, the residential construction sector added 31,700 jobs month over month, while the number of residential specialty trade contractors rose 7,400 from a month prior. million unemployed people.
The company analyzed a portfolio of residential , commercial and business-purpose loans totaling approximately $80 billion. These requirements signal rising market risks, driven in part by growing concerns over cybersecurity and data integrity, the report said. It found that 46.8% errors the highest number on record.
The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. The rule will implement a congressional mandate to establish consumer protections for residential PACE loans.
HousingWire’s 2024 Marketing Leaders award recognizes the most creative and influential marketing minds in the housing economy. This year’s winners have demonstrated exceptional creativity, strategic thinking, and the ability to adapt in a rapidly-evolving landscape. Congratulations to this year’s honorees!
Understanding that real estate housing markets are hyperlocal, the RealTrends Verified City Rankings represent the newest evolution of RealTrends agent and team rankings. reflecting the importance of localized expertise in today’s evolving market. Production data represents residential transactions only.
This fraudulent scheme and the Illicit enterprise that UWM has assembled to perpetrate it undermines the fundamental structure and purpose of the wholesale mortgage market in Ohio,” the lawsuit states. As a result, UWM allegedly charges borrowers above-market rates and fees, and does not save them money, as it claims.
“This continues a theme we have seen in recent months, where the labor market is not seeing large layoffs but instead an ongoing reduction in job openings and a reluctance by employers to add workers,” Fratantoni said. Residential construction gained 1,300 jobs in October, while residential specialty trade contractors shed 6,600 jobs.
Saluda Grade , an alternative investment firm with a focus on residential real estate finance, announced this week that it hired Jim Boothby as its head of global business development. Boothby has more than 25 years of experience in credit , business development and investor relations.
Roomvu , a Canadian-based video marketing platform for residential real estate agents, is partnering with Leading Real Estate Companies of the World (LeadingRE) and Realty One to mark Roomvu’s expansion into the U.S. Our expansion into the U.S. Our partnerships with LeadingRE and RealtyOne are just the beginning.
Chris Raveis, the company’s president of residential sales, welcomed the JRE team in a statement. ” Grimshaw and and Callahan expressed their excitement over joining William Raveis and tapping into the company’s robust network of agent support across multiple markets. “We welcome JRE to our family company.
The future production of housing units at risk I am bringing this up because economic recessions tend to see residential construction workers lose their jobs first. As you can see in the chart below, residential construction workers aren’t losing their jobs yet. I like to break down the monthly supply data into subcategories.
Matterports cutting-edge 3D capture and AI-powered property insights have already transformed how residential and commercial properties are marketed and experienced, Andy Florance, the founder and CEO of CoStar Group , said in a statement. The firms residential North American network generated $58.9 CoStar paid $1.6
Business-purpose residential mortgage lender Dunmor announced Thursday that it has received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. According to Dunmor, the investment is an extension of an original partnership initiated in June 2024.
9, 2025, require title insurance companies to identify the true, natural owners behind shell companies involved in non-financed residential property purchases. real estate market to launder illicit money, its announcement stated. The renewed orders, which are effective Tuesday and run through Oct.
Miami stands as one of the most dynamic and valuable real estate markets in the United States. While not yet reaching the trillion-dollar mark, Miami ‘s total real estate value, including both residential and commercial properties, was estimated at approximately $650 billion as of 2023, according to the Miami Association of Realtors.
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