Real Estate Broker/Agency News

New home sales battle: mortgage rates vs. lumber supply

Today the Census Bureau reported that in March 2021, new home sales were at a seasonally adjusted annual rate of 1,021,000. This number beats estimates. Additionally, major positive revisions were made to the sales number of the previous months. I expect this month’s headline to be revised lower a tad next

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Ocwen to buy Texas Capital’s correspondent business

Texas Capital Bank is selling its entire $14 billion book of mortgage servicing rights to PHH Mortgage, a subsidiary of Ocwen Financial Corp, for a “modest profit.” The Dallas-based bank, one of the country’s largest correspondent lenders, also announced that the deal would represent an exit from the correspondent lending

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Home prices soared in March amid record demand

This is getting to be a problem. Home prices in the U.S. soared 18% year-over-year in March 2021 to a median of $356,000, according to a report Redfin released Friday that provided stark evidence of a housing market where demand greatly exceeds supply. Homes sold in March were on the

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New homes are selling like it’s 2006 again

Low mortgage rates and incredible buyer demand won out over pressure from soaring lumber prices in March as single-family new home sales rose 20.7% from February to a 1.02 million seasonally adjusted annual rate, according to the Department of Housing and Urban Development and the U.S. Census Bureau. This is

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Who qualifies for the $25K first-time homebuyer grant

If recently-introduced first-time homebuyer legislation were to be enacted as written, about 4.37 million people – roughly 10% of the nation’s renters – could be eligible for up to $25,000 in downpayment assistance. Advocates of the policy say the program’s thoughtful targeting would allow it to reach those who need

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