Approximately 70% of U.S. home purchasers do not shop mortgage lenders looking for a lower rate, possibly costing them as much as 50 basis points in higher payments, a report from Zillow claims. Processing Content The company’s analysis uses a typical home worth $360,000, with the purchaser putting 20% down. At 6.24%, the average in […]
Rate shopping could save borrowers over $1,100 a year Read More »
Key Insight: The Federal Reserve Thursday voted unanimously to reappoint all existing regional Fed bank presidents and first vice presidents. Supporting data: All 12 regional Fed Bank presidents and first vice presidents serve five-year terms ending in years that end with a 1 or a 6. The terms expire on Feb. 28, 2026, but the
Fed unanimously reappoints all regional presidents Read More »
The Justice Department failed again to secure a grand jury indictment against New York State Attorney General Letitia James over mortgage fraud claims. Prosecutors have been seeking to renew charges against James after a federal judge dismissed a case against her last month, saying that the prosecutor, Lindsey Halligan, the U.S. Attorney for the Eastern District
DOJ again fails to indict James for alleged mortgage fraud Read More »
Renters using Esusu programs have reportedly realized an average increase of 45 points to their credit scores.Michael Nagle/Bloomberg Rent reporting platform Esusu raised $50 million in a Series C funding round, which it plans to use to scale three specific programs. Processing Content The New York City-based fintech now counts total capital raised to over
Rent reporting fintech Esusu raises $50 million Read More »
Contractors repair the roof of a damaged home following a tornado in Earlington, Kentucky. Photographer:Luke Sharrett/Bloomberg Fannie Mae is broadening the parameters of its financing for adjustable-rate mortgage, renovation, manufactured housing and accessory dwelling units. Processing Content Fannie will no longer reject adjustable-rate mortgages in cases where the difference between the initial and fully-indexed rate of
Fannie expands ARM and renovation lending Read More »
Real estate flips produced their smallest profit margins in well over a decade during the third quarter as rising home prices require a change in strategy for investor businesses, according to a report from Attom. Processing Content Real estate investors flipped a total of 72,217 properties between July and September this year. The number finished
Home flipping profits shrink to their slimmest since 2008 Read More »
The mortgage industry is still weighing the impact of the latest Federal Open Market Committee short-term rate reduction on housing. Processing Content But reflecting trends prior to the meeting in the benchmark 10-year Treasury used to price mortgages, the 30-year fixed rate gained 3 basis points, while the 15-year climbed 10 basis points, the Freddie
Mortgage rates higher after FOMC rate cut priced in Read More »
Point-Aux-Chenes, Louisiana, after Hurricane Ida in 2021.Bloomberg News Climate change-driven disaster risks are having a measurable impact on property insurance rates and home values, according to a recent National Bureau of Economic Research paper. Processing Content In a paper released in June 2024 and revised last month, academics Benjamin Keys and Philip Mulder say their
Impact of climate-fueled disasters seen in insurance, real estate data Read More »
A lot of people are asking the same thing right now: “Is it even a good time to sell?” And the truth may come as a bit of a surprise… For many homeowners, the answer is a strong yes. Why? Because of one major factor working in your favor: your equity. Odds are, if you’ve
Your Equity Could Change Everything About Your Next Move Read More »
In recent weeks, President Trump has increasingly focused on “affordability” as a top priority. When it comes to housing, that means addressing homeownership affordability challenges, which are significant by historical standards. According to a recent Report by the National Association of Realtors, “The share of first-time home buyers dropped to a record low of 21%,
An action plan for condo affordability Read More »