Housing Wire

Can lower mortgage rates stop the housing recession?

Housing Wire

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. In less than a year, we went from 2.78% on the 30-year fixed to as high as 6.28% , then recently got as low as 5% — only to have another move higher this week to 5.30%.

Fannie Mae to accept lender-funded down payment assistance

Housing Wire

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The change could give nonbank lenders a way to guard against redlining accusations.

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Expect a foreclosure spike in the coming months

Housing Wire

Distressed mortgages dating back to the height of the pandemic are expected to fuel a jump in foreclosure activity over the next 12 months, although the foreclosure rate is still expected to remain below the pre-pandemic historical average, a new report from Auction.com contends.

Equity 364

New American Funding eliminates hundreds of jobs

Housing Wire

New American Funding has laid off hundreds of employees across multiple rounds of workforce reductions this year, multiple former employees told HousingWire.

Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In this webinar, Keller Williams Team Leader Trey Willard will teach you how to create a winning tech stack, and how to leverage apps for real estate success.

New home sales make it clear: Housing is in a recession

Housing Wire

Tuesday’s report on new home sales came in as a miss of estimates and prior revisions were all negative. This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession.

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Housing inventory nationwide rises for the first time in years

Housing Wire

Fast-rising home prices and interest rates coupled with a slipping economy helped to cool the nation’s housing market in June leading to a nearly 2% increase in the number of homes on the market.

Rocket’s profits drop dramatically to $60M in Q2 2022

Housing Wire

Rocket Companies , the parent of America’s top mortgage lender Rocket Mortgage , reported a $60 million profit in the second quarter, down from $1 billion in profits just the previous quarter.

Real estate brokerage Radius unveils mortgage-lending arm

Housing Wire

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year.

Existing home sales are still savagely unhealthy

Housing Wire

The savagely unhealthy housing market is continuing as we get closer to August. But, there is one bright spot — inventory is rising. We still have the unhealthy dynamics of noticeable sales declines, but prices are still growing year over year.

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Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

In this webinar, Mary Maloney will demonstrate a methodology that will help you create a pipeline with continuous prospects.

Cheer up, at least purchase mortgage rates are now below 5%

Housing Wire

Purchase mortgage rates dropped for the third consecutive week and are now below the 5% level, reflecting a Federal Reserve monetary policy that has led to a “technical recession” in the U.S. economy.

With home sales down, why are home prices still up?

Housing Wire

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows.

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Movement hires two Fairway executives to boost sales team

Housing Wire

South Carolina-based Movement Mortgage has hired two executives away from rival Fairway Independent Mortgage to boost the growth and development of its distributed retail sales team.

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Rocket’s earnings plummet, but its liquidity remains solid

Housing Wire

During this period of rising rates and general rate volatility, having the cash and credit lines on hand to ride out the rough patches in the market — known as liquidity — can be what separates the winners from the losers in the mortgage industry.

The Complete Realtor: Tools to Successfully Manage Your Personal Life, Career, and Health

Speaker: Marki Lemons Ryhal, REALTOR, Keynote Speaker, 4X International Best Selling Author, and Podcaster at ReMarkiTable, LLC

In this webinar, Marki Lemons Ryhal will teach you how you can pivot and succeed as a real estate agent in the face of adversity!

HousingWire Magazine: August 2022

Housing Wire

Brena Nath, Director of HW+ and Events. Over a year ago, Sarah Wheeler, who serves as our HW Media editor-in-chief, and I got to work on a passion podcast together: GirlFunds.

Single-family rental market shows little sign of cooling 

Housing Wire

Even as rising interest rates and housing prices have put homeownership further out of the reach of many individuals and families, demand for single-family rental (SFR) properties remains strong and monthly rents robust, according to the inaugural National Rental Report from proptech firm HouseCanary.

After implosion, FGMC files for bankruptcy

Housing Wire

Less than a week after laying off hundreds of workers and refusing new mortgage applications, First Guaranty Mortgage Corp. FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection late Wednesday. .

Despite headwinds, these mortgage companies are hiring

Housing Wire

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster.

Database Restoration: How to Revive Dead Leads and Generate New Ones

Speaker: Rivers Pearce, CEO of W8LESS

In this session Rivers Pierce, CEO of W8LESS, will teach you how winning agents restore and revive their database to continue to gain market share!

The housing market recession continues, despite starts data

Housing Wire

real estate investors and affordable homes. The June housing starts data beat estimates with positive revisions, however, this doesn’t change the housing market recession call that I made last month.

Sprout Mortgage to shutter

Housing Wire

Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. The company informed workers of the shut down in a conference call on Wednesday, a former staffer said.

Unpacking the top housing regulations to watch at HW Annual on Oct. 4

Housing Wire

The current administration has been in office for over a year and a half, and with that tenure, a lot of the new housing officials have had time to create and announce their core initiatives.

Mortgage delinquency rate falls to historic low

Housing Wire

The national mortgage delinquency dropped to an all-time low in May, continuing two consecutive months of a decline since March. The overall delinquency rate slightly dropped five basis points from April to 2.75% in May, according to Black Knight.

The Real Estate Pulse: Analyzing the 2022 Housing Market

Speaker: Grier Allen, CEO and Co-Founder of BoomTown

In this session, Grier Allen, CEO and Co-Founder of BoomTown, will breakdown the top housing trends for 2022, and help you navigate the constant changes in the market so that you can achieve success!

Finance of America eliminates big chunk of workforce as losses mount

Housing Wire

Finance of America posted steep losses in the second quarter and has pledged to eliminate a significant percentage of its workforce to contain the financial fallout.

The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July.

The Fed admits the economy is slowing

Housing Wire

The Federal Reserve hiked rates 0.75% on Wednesday, which was mostly expected by market participants before the announcement. The question is, will the Fed keep aggressively hiking rates if the economic data worsens? I say this because I’ve raised all but one of my six recession red flags.

Fed hikes rate by 75 bps, back to 2018 level

Housing Wire

The Federal Reserve (Fed) on Wednesday raised the federal funds rate by another 75 basis points, to 2.25%-2.50%, delivering what was expected by most investors and economists in recent weeks.

Equity 335

#Trending: How to Leverage Instagram’s Algorithm to Build Your Pipeline

Speaker: Eric Simon, Founder of The Broke Agent Media | Matt Lionetti, Real Estate Salesperson at The Agency

In this session, The Broke Agent and Matt Lionetti will break down the strategies they utilize to grow their Instagram accounts to over 360,000 and 40,000 followers. They will also discuss vertical video, podcasting, and the importance of producing consistent content!

DOJ, CFPB announce $24M redlining settlement with Trident Mortgage

Housing Wire

The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4

Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter.

Rocket doubles down on solar

Housing Wire

Rocket Loans will be offering loans to customers who are installing solar panels, the lender announced Tuesday. The news comes exactly one year after its parent Rocket Companies announced it would enter the green energy game in 2022.

Equity 301

Rocket gets into home equity game, joining rival nonbanks

Housing Wire

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume.

Equity 307

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Close more deals from social media leads in 2022! This three-chapter eBook covers the fundamentals of building a digital strategy. You’ll hear from top industry experts and get exclusive insights into how you can become the social-savvy agent. Get your copy today!