Eye on Housing
NOVEMBER 9, 2022
Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 4th, total mortgage activity declined 0.1% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 7.14%. The FRM rate has risen 33 basis points over the past month and has been above 7% for the past three weeks. The Market.
Housing Wire
NOVEMBER 9, 2022
While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. According to Black Knight’s mortgage monitor report, the country’s housing equity position remains strong compared to its position at the beginning of the pandemic, with equity positions $5 trillion, or 46%, above pre-pandemic levels.
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Keeping Current Matters
NOVEMBER 9, 2022
Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home.
Housing Wire
NOVEMBER 9, 2022
Purchase application data is now below 2008 levels! But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. Understanding this data line and what it is trying to tell you will be more valuable than erroneously thinking the market is crashing and we’ll see a wave of foreclosures.
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Realtor.com
NOVEMBER 9, 2022
Getty Images While buying a newly built home may not be the first thought to come to mind for homebuyers, purchasing new construction is a common option that comes with distinct benefits in today’s market. Currently, about one-third of all homes for sale are newly built and are often a boon to homebuyers who’ve been struggling in hot markets to find pre-existing properties at an affordable price. “New construction should be on the radar of all prospective homebuyers, given decl
Housing Wire
NOVEMBER 9, 2022
The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Rising interest rates, sparked by Federal Reserve tightening policies, is the primary cause of the mortgage-finance industry’s pain right now.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
NOVEMBER 9, 2022
If you work in the mortgage industry, the challenges of the current housing market are likely top of mind. Amid rising interest rates and low housing inventory, the industry as a whole is wondering when the light at the end of the tunnel will finally shine through. Despite the less-than-encouraging statistics and data, a downturn in the housing market doesn’t have to be all doom and gloom.
The Close
NOVEMBER 9, 2022
Wishing your website could do a better job capturing leads? The perfect real estate landing page captures short attention spans and takes advantage of that tiny window available to convert a visitor into a lead. But what kinds of page elements, content offerings, and designs encourage visitors to offer up their contact information? In this article, we’ll discuss the essential elements of a great real estate landing page and look at five proven examples.
Housing Wire
NOVEMBER 9, 2022
The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. The company registered a $302 million loss from July to September, mainly due to non-cash transactions. It lost $168 million, or about half of the Q3 losses, in the previous quarter. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle.
Realtor.com
NOVEMBER 9, 2022
Design by Realtor.com / Getty Images (3) Home shoppers, especially first-time buyers and those with tight budgets, have been through the wringer lately. They’ve struggled with skyrocketing prices and historically low inventory. Inflation and rising rents have cut deeply into their savings accounts, and, lately, mortgage rates have hit 20-year highs.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
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Housing Wire
NOVEMBER 9, 2022
Potential homebuyers stayed on the sidelines for mortgages amid the Federal Reserve ’s announcement of another interest rate hike. The Mortgage Bankers Association (MBA) survey shows that the mortgage composite index for the week ending Nov. 4 declined 0.1% from the previous week. Mortgage loan application volume plummeted 70.3% compared to the same period in 2021.
Better Dwelling
NOVEMBER 9, 2022
Canadian households are facing a trifecta of problems—rising rates, soaring inflation, and lots of debt. Office of the Superintendent of Bankruptcy Canada (OSB) data predictably shows rising insolvencies for September. However, even with a sharp climb, insolvency filings have yet to reach 2019 levels. Households are increasingly feeling the pressure of debt, but we’re still […].
Real Trends
NOVEMBER 9, 2022
If we don’t learn from history, we are doomed to repeat it. From 1998 to 2006, according to Freddie Mac , the median annual mortgage rate was 6.45%. At the same time, the median, annual average of existing home sales was 5.63 million units. Therefore, there were more housing sales in 1996 than there will be this year. Mortgage rates today are not much higher than they were then.
HomeLight
NOVEMBER 9, 2022
Disclaimer: This post is meant to be used for educational purposes. Links and mentions of Michigan flat fee MLS companies in this post do not constitute an endorsement. Individual program details can change — please visit a provider’s website for the most current information on rate packages, fees, service areas, and more. HomeLight always recommends doing your own research to determine which selling option is best for your situatio n.
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Realty Biz
NOVEMBER 9, 2022
Did you know that the average house in the United States now costs over $350,000 ? As you might guess, this has served as an obstacle for those who are looking to purchase their first home. It's no secret that the housing market has been skyrocketing over the past couple of years. For many people, it has been virtually impossible to buy a home. This is especially true for first-time buyers.
Brownstoner
NOVEMBER 9, 2022
“It’s so awful.” “They’re monstrosities.” “They are ugly.” “It sticks out like a sore thumb.” These are some of the comments posted to various Brooklyn neighborhood Facebook groups talking about the imposing white and silver Link5G towers that have started popping up on sidewalks across central Brooklyn. “Neighbors have been asking… Read More > The post ‘But Why So Tall?
Lighter Side of Real Estate
NOVEMBER 9, 2022
With mortgage rates having gone up, and home prices not seeming to come down much, some buyers are choosing to wait it out and see how much prices come down. But there’s not a lot of consensus on whether or not prices will come down, or how much they will if they do. According to this Market Watch article , some predictions are that they’ll be coming down quite a bit in the near future, while others say that they’ll remain stable, if not go even higher.
Toronto Realty Blog
NOVEMBER 9, 2022
TorontoRealtyBlog. Do I run a public service? Sometimes it feels like I do. And to be fair, some of the regular readers have paid me compliments to this effect in the past, suggesting that this is an unparalleled free source for real estate insights. But what many of you don’t know is that, really and truly, people call me all the time thinking that this is some sort of public service.
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HomeLight
NOVEMBER 9, 2022
You got into real estate partly so you could have a more flexible schedule and gain control of your life, and life is good. You’ve got a solid group of clients, a few listings, business is now finding you, and you’re making money like you never have before. So, why do things sometimes seem so out of control? While you look forward to helping your clients every day, you’ve begun to feel like you’re just keeping your head above water.
Realtor.com
NOVEMBER 9, 2022
Getty Images You might have heard it’s more challenging to get a mortgage if you’re self-employed. And it is true that self-employed homebuyers do have to jump through a few more hoops than a W-2 employee. Namely, you’ll have to gather a bunch of paperwork to validate your income and self-employment history. Yet taking the time to organize documents will be well worth it when you’re holding the keys to your new house.
Agent Fire
NOVEMBER 9, 2022
Are you a real estate agent experiencing burnout? Find out how to quickly and permanently minimize stress from overworking. Real Estate Agent Burnout: What, Why, and How to Bounce Back. is just one of many great real estate strategies on The Spark.
Realty Biz
NOVEMBER 9, 2022
The city of Cincinnati, Ohio might not necessarily be on your list of the best places to live in the United States, but guess what? You’d be pretty wrong to discount this Midwest city. In fact, it’s far from the sleepy little burg you think it is - it’s rated 41st in US News and World Report’s Best Places to Live for 2022-2023, as well as 22nd for Cheapest Places to Live and number one with a bullet for Best Places to Live in Ohio.
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Bigger Pockets
NOVEMBER 9, 2022
The new BiggerPockets Pro membership is here, and you should check it out if you want to start, scale, or manage your real estate portfolio. Whether you’re new to investing and need […].
Realty Biz
NOVEMBER 9, 2022
Ask Bill Real Estate is a weekly column hosted by 36-year Real Estate Pro Bill Gassett. Bills Q&A will answer the most difficult questions for real estate agents, DIY, first-time home buyers, and mortgage lenders email your questions now to billgassett@remaxexec.com. Question from Mike Collins, Rochester, New York: How do I find a property's assessed value?
Bigger Pockets
NOVEMBER 9, 2022
House flips, opportunity zone investing, student housing—name a real estate strategy, Evan Turner, former NBA player, has probably done it. Unlike most professional athletes, Evan left the league with more […].
Realtor.com
NOVEMBER 9, 2022
HGTV On the latest “ Good Bones ,” Mina Starsiak Hawk is back in the Old Southside neighborhood of Indianapolis—and this time, she’s showing off a cozy new design style that her team is dubbing “cabin chic.” In the episode “Twinning Is Winning,” Starsiak Hawk sets out to build another house from scratch and decides to use the same floor plan she used for the home she remodeled right down the street.
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BubbleInfo
NOVEMBER 9, 2022
Could we have a decent spring selling season next year? Is there any precedent of our market settling down that quickly? Home sales had been struggling for months, and then the Lehman Brothers collapse in September, 2008 helped to trigger the Great Recession, and millions of foreclosures and short sales. Yet, just seven months later, […].
Brownstoner
NOVEMBER 9, 2022
This sprawling Flatbush standalone certainly isn't short on space, both indoors and out, with two floors of bedrooms and a two-car garage. The updated interior includes renovated bathrooms, but many period details in the house remain, including stained glass, mantels and wainscoting. The house at 296 Stratford Road is… Read More > The post Flatbush Standalone With Mantels, Updated Bathrooms, Garage Asks $2.895 Million appeared first on Brownstoner.
RISMedia
NOVEMBER 9, 2022
By Dixie Somers As you consider the architecture for the dream house you're building, make sure that you're spending enough time thinking about the roof. The roof can account for almost half of the exterior, so it carries plenty of weight in terms of your home's appeal. One aspect of roofs that's important to cover […]. The post Building a House?
Brownstoner
NOVEMBER 9, 2022
For community activists hoping to shine a spotlight on the importance of their neighborhood and get some assistance towards their preservation goals, it is the time of year to apply for the Historic Districts Council's annual "Six to Celebrate" program. The initiative launched in 2011 and each year six preservation projects… Read More > The post Get Help With Your Neighborhood Preservation Goals, Apply for HDC’s ‘Six to Celebrate’ appeared first on Brownstoner.
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