Wed.Apr 13, 2022

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Mortgage applications continue fall amid 5% rate

Housing Wire

Mortgage application volume dropped 1.3% for the week ending on April 8, from the previous week, as mortgage rates eclipsed the 5% mark. Refinance applications fell 5% from the prior week and 62% from the same week a year ago, according to the Mortgage Bankers Association ‘s weekly survey. “Mortgage rates have spiked more than 1.5 percentage points thus far in 2022,” Mike Fratantoni, MBA’s senior vice president and chief economist, said in a statement.

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Where Are Mortgage Rates Headed?

Keeping Current Matters

There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American.

Mortgages 230
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Data automation is the next frontier of mortgage tech?

Housing Wire

Despite advances in technology, the mortgage industry still lacks efficiency. Mortgage executives are aware of a problem: despite billions of dollars in technology investments , the mortgage industry still largely looks like it did two decades ago. After all, it still takes 43 days, on average, to close a loan. “Realistically, it’s still basically the same industry,” Brian Woodring, chief information officer at Rocket Mortgage , said on Tuesday during the Mortgage Bankers Association ’s Technolo

Mortgages 404
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Building Materials Prices Rise Further

Eye on Housing

According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 1.4% in March, following an upwardly revised increase of 2.2% in February and 4.1% in January. This adds up to an 8% jump in building materials prices since the start.

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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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MSR sector is a raging bull in a bear mortgage market

Housing Wire

Fast-rising interest rates, up 1.5 percentage points over the past three months, have thrown a wrench into the mortgage origination and private-label securitization markets. Refinancing is plummeting, purchase activity is softening, and rate volatility is making secondary market deals harder to price efficiently across prime and non-prime/non-QM deals.

Mortgages 382

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Nominations for the 2022 Women of Influence are now open!

Housing Wire

Each year, HousingWire recognizes the outstanding women in housing who are making notable contributions to both their businesses and to the industry at-large. Last year’s list of nominations were so robust that we expanded the number of honorees from 50 women to 100 women for the first time ever. The 2021 honorees persevered despite the drastic impacts that the pandemic had on women in corporate American, particularly executive women.

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10 Outdoor Staging Tips for Selling Your Home

HomeLight

Since the pandemic, everyone’s looking at outdoor living spaces through a new, more appreciative lens. Taking things outside helped us survive the worst COVID waves, and the habit isn’t going anywhere. If the weather cooperates, why not work, host the party, or enjoy a meal in the fresh air? “It’s really important to maximize your outdoor space. People want higher quality furniture and higher quality design,” says Kiel Wuellner , vice president of design for Los Angeles-based Vesta, which specia

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Opinion: Lack of conformity in title fees facilitates predatory lending

Housing Wire

Title insurance protects borrowers from financial loss if the lender discovers a defect in the title to the property (for example, a previous mortgage) and demands a borrower to pay back the loan. Title insurance also guards against loss in the event that someone makes a valid claim to take possession of a borrower’s home; not because they don’t own it, but because they have an earlier legal right to do so.

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5 Creative Ways to Encourage People to List in a Low Inventory Market

Lighter Side of Real Estate

It’s tough to land listings in any market, but when you’re smack dab in the middle of a market with low inventory, they’re like lassoing a unicorn under a rainbow. You could go with the all-too-common advice of hitting up FSBO’s, or calling on expired listings, but so is every other agent out there. Sitting open houses and waiting for someone who needs to sell their house to stroll in might work, but good luck having a house to even hold open.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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21 Real Estate Videos Top Agents Use To Generate & Nurture Leads

The Close

While it seems like every Realtor is making real estate videos these days, most shouldn’t even bother. Why? They don’t focus on why they’re making videos in the first place— to generate and nurture leads! That’s why I decided to work with agents from around the country to highlight 21 examples of real estate videos top agents are making that actually fill their customer relationship manager (CRM) with leads.

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Where Will Rates Stop?

BubbleInfo

I suggested that mortgage rates should settle into the 4.75% to 5.50% range, and Bill at CR thinks the range will be 5.0% to 5.7%. Today’s rates are in the low 5s, so we have arrived and buyers should not feel the need to hurry up – but it will be bumpy over the next […].

Mortgages 105
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The Complete Guide to Downsizing for Retirement

Realty Biz

You’ve finally arrived and can retire after a lifetime of sacrifices and hard work professionally, it’s time to relax, travel, pursue hobbies, and visit grandchildren. But retiring also implies downsizing so that things are more manageable including your finances because your retirement check won’t be as large as your former paycheck. With longer lifespans, a pension, social security, and savings will rarely match a previous full salary, and this can mean added financial pressure.

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Video of the Week: Inside an Exquisite Penthouse in Brisbane, Queensland, Australia

Sotheby's International Real Estate

Featuring curated videos from the most sought-after destinations the world over, discover this week’s Video of the Week. ?. Brisbane, Queensland, Australia | Tyson Clarke, Queensland Sotheby’s International Realty. Curated for the connoisseur who appreciates life’s finest luxuries and nestled atop Hamilton’s crowning glory, Gallery House, arguably Brisbane’s most exquisite penthouse is ready to illuminate your senses.

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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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Mortgage and refinance rates today, April 13, 2022

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates fell yesterday, and by a worthwhile amount. However, it was smaller than Monday’s rise and less than half the combined increases over […].

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Sellers may be starting to lose their grip on the housing market

Realty Biz

Reports have emerged from real estate firms that some sellers have been lowering their asking prices, in the first sign that buyers may finally be getting a break in the red-hot housing market. That’s according to a report from realtor.com last week, cited by CNBC. It said new listings the previous week rose 8% from a year earlier, following four straight weeks of annual declines.

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Rising mortgage rates and the impact on real estate markets

Properties Online

As rates begin to shoot upward, many homebuyers have been feeling pressure to close the deal fast, and for a low price that they can still afford. In March, average interest rates climbed to 4.72% for the week ending April 8, according to Freddie Mac. This is the highest level mortgage rates have seen since… Read More » Rising mortgage rates and the impact on real estate markets.

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Report: Home Price Increases Outpace Inflation by 150% Since 1970

RIS Media

It’s no secret that a gallon of milk costs more today than it did just a few years ago or that you’re paying more at the pump today than you were even yesterday. But although prices for every good and service have continuously risen over the last 50 years, home-price hikes have taken the lead—increasing 1,608% since 1970, a new report points out.

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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Canadian Realtors can track bidding wars in real-time

Real Trends

The Canadian Real Estate Association has announced a pilot project that will display real-time tracking of offers on REALTOR.ca listings, according to statement released last week. To power this capability, the CREA will integrate Openn Offers , an Australian offer management software provided by property technology company Openn Negotiations , with REALTOR.ca.

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Daily Links: City on Edge After Sunset Park Subway Attack

Brownstoner

In the News A Rise in Murders Upends a Sense of Progress in Brooklyn’s East Flatbush [NYT] ‘Things Can Change So Quickly:’ Sunset Park Reacts to Subway Shooting [BP] Photos: Deno’s Wonder Wheel Amusement Park Opens for 102nd Season [BP] Brooklyn Subway Shooting: Person of Interest Identified [amNY] Juneteenth Recognized as Paid New York… Read More > The post Daily Links: City on Edge After Sunset Park Subway Attack appeared first on Brownstoner.

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How Will The Federal Budget Affect Housing Affordability?

Toronto Realty Blog

TorontoRealtyBlog. On Monday morning, I began the arduous task of sorting through a week’s worth of mail that had piled up and been left by my lovely wife in my home office. Mail, eh? How could there be so much when we don’t really even use mail anymore? More than a dozen flyers – several from politicians, since it’s that time of year, a beautiful letter from a Harvey Kalles real estate agent offering to buy my home, and a ridiculous amount of T5’s and T5013’

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Mortgage Delinquencies Drop Again, Reach Another Historic Low in January

RIS Media

As of January, 3.3% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 2.3 percentage point decrease compared to January 2021, when it was 5.6%. This is according to CoreLogic’s monthly Loan Performance Insights Report for January 2022, released this week. This again marks the lowest recorded overall delinquency rate in the U.S. since at least January 1999.

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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 order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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Will rising rates curb home buyer demand in 2022? (Podcast)

The Mortgage Report

Mortgage rates are on the rise. Will this curb home buyer demand and help lower prices? Listen on The Mortgage Reports Podcast.

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Steer Your Agents Toward the New ‘Drive With NAR’ Podcast

RIS Media

REALTORS® are always on the move—encourage your agents to take NAR along with them. Share the new Drive With NAR podcast with them today, available at magazine.realtor/drive or on all major podcast platforms. Commemorate Fair Housing Month. Strengthen your commitment to fair housing with premier, free and discounted resources available this month, only through Right Tools, Right Now.

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3 Great Reasons to Donate Your Furniture to Charity

Realty Biz

Did you know that you can donate furniture to charity and get it picked up for free? It’s true! Some companies will come to your home for a furniture donation pick-up ! Doing an online search for furniture donations near me will probably be helpful to get the ball rolling. Head to Google and search. You are likely to see some options for those organizations that are nearby.

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Cleaning Essentials Every Home Should Have

RIS Media

A fully stocked house with must-have cleaning essentials creates less stress during any unexpected messes and will help you clean the house faster and more efficiently. Whether you’re moving into a new home or you’re taking inventory of your existing supplies, there are some cleaning supplies that no home should be without. Read on for the cleaning essentials every home should have. .

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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.