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Nominations for the 2023 Rising Stars close today!

Housing Wire

The award recognizes leaders and young talent who are moving markets forward through a variety of roles in the housing economy. And this year, HW Rising Stars is combining forces with the RT Emerging Leaders award to recognize leaders 40 years and under in all categories of house — including real estate.

Closing 384
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The rising tide of house prices: Avoiding the flood

Housing Wire

The old conservative economist’s adage that “a rising tide lifts all boats” was quickly called-out by activists who didn’t see the trickle down effects of a “booming economy” benefit the working people of America. While the tide analogy was meant to refer to the entire economy, it works well in the housing sector as well.

Equity 397
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Banks report tighter lending standards, weaker demand for mortgages and HELOCs

Housing Wire

. “You’ve got lending conditions tight and getting a little tighter, you’ve got weak demand, and (…) it gives a picture of a pretty tight credit conditions in the economy,” Fed chair Jerome Powell said last week when asked about the survey results. The survey showed that a net 33.3%

Lending 370
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Shelter costs rose again in August, but there’s an asterisk

Housing Wire

The indexes for lodging away from home, used cars and trucks, and recreation were among the categories that decreased over the month. Overdoing the rate hikes, considering that inflation is likely to calm, will unnecessarily damage the economy.” Inflation will be one main determining factor in upcoming monetary policy decisions.

MLS 397
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Mortgage rates blow past industry predictions

Housing Wire

Economists had predicted rates would rise as the overall economy stabilized. Bad news for the general economy is paradoxically good for the housing market in so far as rates would decline,” said Len Kiefer, deputy chief economist of Freddie Mac. Few industries are as impacted by market fluctuations as housing.

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What’s behind the sharp decline in mortgage delinquencies?

Housing Wire

This was certainly true over the past year, as unemployment spiked during the onset of the pandemic, then has fallen rapidly as the economy has re-opened and rebounded. Although delinquency rates decreased across categories in the second quarter, as shown in Exhibit 2, the biggest decline was for loans that were 90+ days past due.

Mortgages 485
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The housing boom juices Home Depot’s bottom line

Housing Wire

In particular, Home Depot’s Indoor Garden category made up the largest share of its net sales globally at over $14 billion – around 10.8% Home Depot’s lumber category was the only sector that experienced a greater year over year increase, jumping 43.3%.