Job growth surprised again in April, this time rising more than expected. Total nonfarm payroll employment rose last month by 253,000 jobs, compared to March, according to data released Friday by the Bureau of Labor Statistics. “Job growth for the prior two months was revised downwards, but on net, the
California mortgage tech firm Blend Labs is at risk of getting delisted from the New York Stock Exchange (NYSE) as a consequence of the company’s stock price slumping below $1 for more than a month. Blend announced on Thursday that it received notice on April 28 from the NYSE that
Toronto-based TD Bank Group and Memphis, Tenn.-based First Horizon Corporation, one of the country’s largest warehouse lenders, have agreed to terminate an acquisition deal, according to a joint announcement issued Thursday. The deal, first announced in early 2022 and valued at $13.4 billion, would have led to TD Bank acquiring
Elevated mortgage rates hurt Rocket Companies, the parent of Rocket Mortgage, again in the first quarter of 2023. Rocket has been cutting expenses and targeting purchase business, but the firm was unable to achieve profitability in Q1 in a shrinking mortgage market. The Detroit-headquartered lender sustained a $111 million adjusted
“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage, said of this year’s spring homebuying season. The purchase market is locked up with a lack of inventory thanks to elevated rates and homeowners already having secured
The slower housing market at the start of the year was not enough to prevent Fidelity National Financial from turning a profit. During the first quarter of 2023, the Big Four title insurer reported revenue of $2.474 billion, down from $3.167 billion in Q1 2022, and a net income of
Investors haven’t exactly treated publicly traded mortgage companies very kindly over the past 12 months. To that end, Rithm Capital, the real estate investment trust that operates NewRez, Caliber and several other businesses, is considering spinning off the mortgage division to aid its flagging stock, which company executives described as
The National Association of Home Builders (NAHB) announced on Thursday that it has appointed James W. Tobin III as its new president and CEO. Following an extensive search, the NAHB Board of Directors ratified the selection of the CEO Executive Search Committee on May 3, appointing Tobin to lead the
Pontiac, Michigan-based United Wholesale Mortgage (UWM) announced on Wednesday that its brokers can request a dedicated loan coordinator, adding a level of loan processing support when needed. In addition, UWM announced brokers can also connect their loan origination platform to the lender’s system. When they order the service known as
A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers.
The 2023 HousingWire Annual agenda is here. After listening to pitches from our community, discussing with our welcome committee and fine-tuning with our HousingWire team, we feel confident that we’re delivering an agenda that addresses the topics you need to start off 2024 as a leading housing professional. A few
The Federal Reserve affirmed on Wednesday that its next key federal funds rate hikes will depend on incoming data. In turn, economists and housing industry experts have now turned their attention toward the June meeting, as that decision will dictate the future movement of mortgage rates. The Fed’s move on
Meridian Listing Agent Kevin Harper Says Idaho Real Estate Market Stronger Than Many Expected
Lake & Town Realty Partners With Real Estate Portal Lakefront Living Realty LLC
Reseller Hosting Provider Launches White Label Webhosting Education Campaign For Freelancers
Ohio Investment Real Estate Broker Launches New Property Search Website
Zillow News Truth Delta: Opinion & Editorial