Last week, the nation’s mortgage rates remained below 4% for the second consecutive week, driving a 1.5% increase in application volume, according to the Mortgage Bankers Association. This means on an unadjusted basis, the index dropped 1.5% for the week ending on Nov. 22, 2019. The MBA indicates this week’s results
Earlier this year, Wells Fargo committed to donate $1 billion to increase affordable housing nationwide. Specifically, the bank committed $1 billion in philanthropy through 2025 to “address the U.S. housing affordability crisis, including homelessness, available and affordable rentals, transitional housing and home ownership.” The commitment included a focus on creating
Although housing inventory may be a little slim these days, Zillow says it expects for Baby Boomers to open the housing market back up as they vacate their homes over the next two decades. About a third of homes in the U.S. are owned by those who are 60 and
The U.S. government’s debt, which broke $22 trillion for the first time this year, is on an “unsustainable path,” according to a report from the Federal Reserve Bank of St. Louis. Debt in itself isn’t a problem unless income is lagging, the paper said, and for governments, that typically means
The mortgage industry continues to move toward automation, but there are still parts of the mortgage process that remain fragmented. Underwriting presents a particular challenge because of the many variables involved that seem to need human judgment, making it one of the most manual processes in any mortgage workflow. CoreLogic
As 2019 nears its close, experts across the housing industry are doing what they do at this time every year: Looking ahead. Looking back at this time last year, however, many economic predictions missed the bullseye, and some missed the target altogether. For example, CoreLogic was projecting 30-year fixed mortgage
Sales of new homes fell in October to an annualized rate of 733,000, according to the Census Bureau and the Department of Housing and Urban Development, but it still looks like 2019 is going to a vast improvement over 2018. According to the Census data, the October pace fell slightly
U.S. Bank announced this week that it is investing $4.8 million with the goal of advancing affordable housing. The investment comes from the bank’s Community Possible grants as well as corporate contributions. “We believe that every individual and family deserve access to safe, accessible and affordable homes,” said Tim Welsh,
When it comes to affordability, Millennials are willing to go the extra mile, literally. Nearly 90% of Millennial homebuyers told Redfin that they would choose a single-family home over an equally priced unit in a triplex with a shorter commute. “Even as we’ve seen a revival in many urban neighborhoods,
Although the nation’s potential existing-home sales experienced a monthly decline in October, data shows the rate improved from the previous year, according to First American’s Potential Home Sales Model. “In October 2019, the housing market exceeded its potential, as actual existing-home sales exceeded market potential by 4.6%, or an estimated 239,000
President Donald Trump has extolled negative interest rates on Twitter and in speeches, making clear he wants the Federal Reserve to slash its benchmark rate below zero, a policy it has never used before. Fed policymakers are unanimous in their distaste for the idea, judging from the minutes released on
Redfin is expanding its mortgage business into Massachusetts, Michigan and Wisconsin. With the expansion, Redfin Mortgage offers fixed- and adjustable-rate conforming mortgages as well as jumbo loans in 15 states and the District of Columbia. “We are redesigning the lending process to be fast, easy and intuitive for our customers,
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