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U.S. Home Prices Hit Record of $416,000 in June as Sales Continued to Slide – WSJ

BrokerOwner.net July 21, 2022

The U.S. housing market is rapidly cooling as record prices and rising mortgage rates weigh on home sales, locking out potential buyers.

Existing home sales are still savagely unhealthy – HousingWire

BrokerOwner.net July 21, 2022

Existing home sales are still savagely unhealthy. Once total inventory levels reach 1.52-1.93 million, we will be in a much better place for housing.

Purchase mortgage rates rise ahead of Federal Reserve meeting

BrokerOwner.net July 21, 2022

Purchase mortgage rates increased for the second consecutive week but at a slower pace as the market chewed on the latest U.S. inflation data, the expectation of a tightening Federal Reserve’s monetary policy, and its economic impacts. After jumping 20 basis points last week to 5.50%, purchase mortgage rates increased this week

In a bad mortgage market, these are areas of opportunity for lenders

BrokerOwner.net July 21, 2022

Home listings grew, credit scores improved and tappable home equity increased in the second quarter of 2022 from the first quarter. Those the three areas represent an opportunity for lenders grappling with a deeply challenging mortgage market, Sales Boomerang said in its second quarter mortgage opportunities report. Sales Boomerang reviewed data from more

Logan Mohtashami to lead housing super session at HW Annual Oct. 3-5

BrokerOwner.net July 20, 2022

Mortgage interest rates are up, housing inventory is down and demographics still show there’s a ton of demand. Given the current economy, how are housing professionals supposed to stay competitive the rest of the year and beyond? To help address this question and more, we’re excited to feature HousingWire Lead

Financing proves an obstacle for ADUs

BrokerOwner.net July 20, 2022

Accessory dwelling units are increasingly legal. But are they affordable? That’s the problem revealed by a report this month published by the University of Southern California Lusk Center for Real Estate and the Terner Center for Housing Innovation at University of California Berkeley. Specifically, there is a high cost in

Sandra Thompson tight-lipped on credit score changes, ending GSE conservatorships

BrokerOwner.net July 20, 2022

Federal Housing Finance Agency Director Sandra Thompson is keeping her views on whether Fannie Mae and Freddie Mac should exit conservatorship and a decision on credit scoring models close to the vest. “Ending conservatorships is not a quick action to undertake,” Thompson said in testimony Wednesday before the House Financial

Existing home sales are still savagely unhealthy

BrokerOwner.net July 20, 2022

The savagely unhealthy housing market is continuing as we get closer to August. But, there is one bright spot — inventory is rising. We still have the unhealthy dynamics of noticeable sales declines, but prices are still growing year over year. This has been a concern of mine after the

Opinion: Is it time to bring Fannie and Freddie out of conservatorship?

BrokerOwner.net July 20, 2022

Late this month – July 30 – marks the 14-year anniversary of President George W. Bush, a Republican President, signing into law the HERA legislation, developed under a Democratic-controlled Congress. HERA established a process for conservatorship of Fannie Mae and Freddie Mac, created FHFA as a first-class regulator, and codified

Ex-Sprout employees: no paychecks, no severance and now, no health insurance

BrokerOwner.net July 20, 2022

When non-QM lender Sprout Mortgage abruptly shut down on July 6, more than 300 workers expected their last paychecks to be delivered the following day as scheduled. They also expected Sprout to offer severance packages to cushion the blow. Instead, paychecks weren’t delivered to employees, and severance wasn’t offered, former

Home Sales Data Are Coming. Watch for the Impact of Prices and Rates. – Barron’s

BrokerOwner.net July 20, 2022

The report will offer a snapshot of more than sales. Expect an update on the median existing-home price, which rose above $400,000 for the first time …