Single-family production falls
Following an elevated February reading, nationwide housing starts fell 6.8 percent in March to a seasonally adjusted annual rate of 1.22 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Still, new housing production in the first quarter of this year is running 8.1 percent above the pace in 2016.
MBA offers detailed GSE reform proposal
The Mortgage Bankers Association released a white paper GSE Reform: Creating a Sustainable, More Vibrant, Secondary Mortgage Market that provides a detailed picture of a reformed and revitalized secondary mortgage market.
Existing-home sales jumped 4.4% in March
Existing-home sales took off in March to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago, according to the National Association of Realtors. Only the West saw a decline in sales activity in March.
How to spring clean your digital life
Spring cleaning may call you to empty those closets, wash the windows and lug mountains of items to the local thrift store. But have you ever considered paying the same attention to your digital spaces?
Builder confidence holds firm in April
Builder confidence in the market for newly-built single-family homes remained solid in April, falling three points to a level of 68 on the National Association of Home Builders/Wells Fargo Housing Market Index after an unusually high March reading.
Profits up in 2016 for independent mortgage bankers
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,346 on each loan they originated in 2016, up from $1,189 per loan in 2015, the Mortgage Bankers Association reported in its Annual Mortgage Bankers Performance Report.
Freddie Mac: Renters put moving plans on hold, despite financial optimism
More renters are optimistic about their financial situations but expect to stay where they are even if their rents increased, according to new research released today by Freddie Mac.
Vacation home sales plummet, investment sales climb in 2016
Last year’s strongest pace of home sales in a decade included a sizeable drop in activity from vacation buyers and a jump from individual investors, according to an annual second-home survey released by the National Association of Realtors
Multifamily property price growth expected to track inflation
Freddie Mac today announced total multifamily origination volumes could increase by three- to six-percent this year, and even top $295 billion, depending on movements in the 10-Year Treasury rate.
Mobile mania: Responding to changing consumer expectations
Mobile technology has drastically changed consumer behavior, preferences and expectations. Real estate professionals are flocking to the latest apps to leverage their user-centricity and speed to transform their interactions with clients. Here are some lessons that can be gleaned from three top mobile technology companies, as well as some best practices real estate agents can apply directly to their own businesses.
How to drive employee engagement
In the U.S., disengaged employees cost organizations an estimated $450–550 billion each year. Behind this impasse lies a critical piece of the engagement puzzle that organizations often overlook: the role and responsibility of individual workers.
Housing confidence dips amid home price gains, rising rate expectation
The Fannie Mae Home Purchase Sentiment Index decreased 3.8 percentage points in March to 84.5, following February’s survey high. Five of the six components that comprise the HPSI were down.
ALTA releases updates to supplemental best practices materials
The American Land Title Association has released updates to supplemental materials for its Title Insurance and Settlement Company Best Practices.
Mortgage credit more crunched than in 2001: Here’s why
A research paper recently published by the Urban Institute classifies today’s credit environment as “extraordinarily tight” — so tight, in fact, that more than one million mortgages were lost in 2015, the majority of which would have gone to homebuyers with credit scores below 660.
Nurturing your referral network online and offline
Referrals have always been a significant source of business for real estate agents. According to our Referral Report, the close rate of a typical referral is around 50 percent and nearly 40 percent of inbound referrals come from the agent’s sphere of influence (SOI). These findings reinforce the importance of consistently engaging with your sphere of influence both online and offline.
Five effective Facebook tops to close more leads
Leigh Brown is a top-producing Realtor in North Carolina. Last year, her brokerage had 300 transactions worth $75 million in sales. She attributes her success, among other things, to Facebook. Here are some of her tips and tricks from the March 2017 Secrets of Top Selling Agents webinar to create a more effective Facebook presence.
Lower my stress, please
How do I lower my stress while increasing my business? When you're a small business owner, you do everything yourself. But as you grow, you start to realize your real value is in doing money-making activities, not administrative tasks. So where do you start when you can't hire an admin?
Realtors sound the alarm as NFIP expiration looms
The National Flood Insurance Program is once again under the microscope in Washington D.C., as the program is set to expire on Sept. 30. Remembering the uncertainty surrounding the 2010 expiration, and subsequent series of temporary extensions, the National Association of Realtors said it is working closely with federal regulators and members of Congress to strengthen the program.
Pending home sales leap 5.5 percent in February
Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the National Association of Realtors. All major regions saw a notable hike in contract activity last month.
Defect, fraud and misrepresentation risk surges higher
The First American Loan Application Defect Index released March 27 showed the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased 4.1 percent in February 2017 as compared with the previous month.
Lenders' economic optimism reaches survey high
Mortgage lender expectations for the economy and home prices reached survey highs amid challenges to profit margins from competition and a shift toward purchase mortgages, according to Fannie Mae’s first quarter 2017 Mortgage Lender Sentiment Survey.
New home sales rise 6.1 percent in February
Sales of newly built, single-family homes continued to expand, rising 6.1 percent in February to a seasonally adjusted annual rate of 592,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Appraisal initiatives highlighted in banking agencies report
The federal banking agencies announced this week that are developing a proposal to increase the threshold for requiring an appraisal on commercial real estate loans from $250,000 to $400,000, in order to reduce regulatory burden.
ABA welcomes EGRPRA Report, calls for ongoing review of burdensome regs
The American Bankers Association reacted positively to the Economic Growth and Regulatory Paperwork Reduction Act report, issued to Congress on March 21 by the federal banking agencies, but called for a more consistent effort to review burdensome regulations.
Seven crucial facts about FHA loans
Less-rigorous lending standards and lower down payment requirements make FHA loans popular with mortgage borrowers.
Mortgage lending regs, GSE reform, regulatory burden top ICBA policy priorities
The Independent Community Bankers of America announced its top legislative and regulatory priorities for 2017. ICBA made the announcement at its ICBA Community Banking LIVE national convention in San Antonio.
Data Dilemma: Developing a risk management protocol
Negligence is the cause of 79 percent of all data breaches. And 50 percent of all data breaches are caused by employees. Auditing your data, putting best practices in place, and educating your staff and agents about the potential threats can go a long way to mitigating data breaches. Read on to learn how.
Consumer confidence in economy on the rise
According to a NAR survey, in the first three months of 2017, the share of households believing the economy is improving soared to its highest share in the survey's five-quarter history (62 percent), and is up from 54 percent last quarter and 48 percent in March 2016.
Builder confidence hits 12-year high
Builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since June 2005.
February new home mortgage applications increase 2.2 percent YOY
The MBA Builder Application Survey data for February 2017 shows mortgage applications for new home purchases increased 2.2 percent compared to February 2016. Compared to January 2017, applications increased by 16 percent relative to the previous month.
Wire Fraud: 7 ways to protect your clients from an ongoing threat
The FBI reported last year that U.S. citizens suffered losses of nearly $180 million dollars as a result of business email wire fraud. What can you do to caution your clients about wire fraud scams and how to avoid them? Read on for some safeguards you can put into place.
Commercial/multifamily delinquencies remain low in Q4
Delinquency rates for commercial and multifamily mortgage loans remained low in the fourth quarter of 2016, according to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report.
The Power of Listings
Many times, teams focus on generating buyer leads, spending thousands of dollars chasing internet leads that primarily drive more buyers. While I don't have a problem paying for leads, the team leader should focus primarily on listings and building their listing inventory. Here are a few things our high-volume listing clients do to ensure their team's success with listings.
Big jump in construction jobs feeds employment gains in February
Total nonfarm payroll employment increased by 235,000 in February, and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported today. Construction employment increased by 58,000, with gains in specialty trade contractors and in heavy and civil engineering construction. Construction has added 177,000 jobs over the past 6 months.
Three seller tips to avoid home inspection nightmares
It's your job as an agent to keep sellers calm and focused on the big picture; however, when it comes to home inspections, most homeowners aren't used to having a stranger peer into their attic, open every cupboard and closet or test every appliance. Since maintaining your cool is a must, here are three tips for navigating the home inspection process with your clients.
NAR survey finds Gen X on the mend
An improving economy, multiple years of strong job growth and the notable increase in home values in most markets fueled a greater share of purchases from Generation X households over the past year.
Consumer confidence in housing hits all-time high
The Fannie Mae Home Purchase Sentiment Index (HPSI) increased by 5.6 percentage points in February to 88.3, a new all-time high. Five of the six components that comprise the HPSI were up, and three hit record highs.
CFPB report outlines credit reporting problems, actions taken
The Consumer Financial Protection Bureau (CFPB) released a report on March 2, detailing the problems in the credit reporting industry that the Bureau has uncovered and corrected through its oversight work.
Power broker strategies: Leveling the playing field
In 2017, Marti Hampton, broker/owner of RE/MAX One Realty, feels the greatest opportunity for real estate agents is to focus on one thing — whether it be condos, new construction or being a seller’s agent — and dominant the marketshare in that one area.
Federal Reserve reports continued modest to moderate expansion
Reports from all 12 Federal Reserve Districts indicated that the economy expanded at a modest to moderate pace from early January through mid-February. Real estate and lending continued to show steady growth.
Using technology to gain repeat customers and protect your business
Leveraging technology in your business should be one of your top priorities, and with the variety of services from which to select, you must be an expert at choosing the right technology at the right time.
Freddie Mac outlook explores potential impact of rising inflation
Freddie Mac released its monthly outlook for February, looking at the potential impact rising inflation could have on the housing and mortgage markets under various scenarios as markets prepare for the start of the spring homebuying season.
Adding a new twist to 'tried and true'
Somebody once said, "If we keep on doing what we've been doing, we'll get the same results," which works just great if you happen to be on the right track to begin with. But in today's ever-changing real estate market, there's a new variable every day.
Foreclosures fall 82 percent from recession peak
Foreclosures are continuing their exodus from the housing market, with foreclosure inventory falling 30 percent and foreclosure completions falling 40 percent in 2016, according to CoreLogic's December 2016 National Foreclosure Report.
5 habits that boost productivity, generate leads and lead to success
There is no secret to reaching lasting success; however, if you take a hard look at your habits, you'll see what's holding you back from becoming more successful. Our habits — those things we do automatically every day — can either help or hinder us on our journeys to achieving our goals. Here are five good habits to adopt this year.
Eight promises you can make to every real estate client
Successful real estate professionals have their clients’ best interests at heart. They are committed to helping buyers and sellers make the best possible real estate decisions. But what’s the best way to communicate this commitment to potential clients? One way is to put it in writing.
It’s good to be a seller: Sales see highest profits since 2007
It's a good time to be a seller. Home sellers in 2016 saw the highest profits since 2007, averaging a 21 percent gain, or $38,206, according to ATTOM Data Solutions' Year-End 2016 U.S. Home Sales Report.
MBA releases 2016 year-end commercial/multifamily servicer rankings
MBA released its year-end ranking of commercial and multifamily mortgage servicers' volumes as of Dec. 31, 2016. At the top of the list of firms is PNC Real Estate/Midland Loan Services with $517.5 billion in U.S. master and primary servicing, followed by Wells Fargo Bank N.A. with $505.2 billion, Berkadia Commercial Mortgage LLC with $221.7 billion, KeyBank National Association with $205.6 billion, and CBRE Loan Services with $112.0 billion.
Existing-home sales jump in January
Existing-home sales stepped out to a fast start in 2017, surpassing a recent cyclical high and increasing in January to the fastest pace in almost a decade, according to the National Association of Realtors. All major regions except for the Midwest saw sales gains last month.
Housing affordability hits eight-year low, remains favorable
Shortages of buildable lots and skilled labor, along with excessive regulations, rising mortgage interest rates and ongoing home price appreciation pushed housing affordability in Q4 2016 to its lowest point since the Q3 2008, according to the National Association of Home Builders /Wells Fargo Housing Opportunity Index.
January new home purchase mortgage applications increase year over year
The Mortgage Bankers Association Builder Application Survey data for January 2017 shows mortgage applications for new home purchases increased 9.2 percent compared to January 2016. Compared to December 2016, applications increased by 22 percent relative to the previous month.
Policy uncertainty remains at the center of modest growth expectations
Conservative growth expectations for 2017 persist as the markets continue to weigh the unfolding policies of the new Administration, according to the Fannie Mae Economic & Strategic Research Group’s February 2017 Economic and Housing Outlook.
Flood insurance expert advises real estate agents to educate themselves about flood risk, insurance
In a session titled Never Underestimate Your Client’s Flood Risk at the National Association of Realtors Expo, Melanie Graham with H20 Partners Inc. emphasized how critical it is for real estate agents to be educated about the flood zoning in their areas, and how that knowledge can be a “value add” to the services they offer.
CFPB explores impact of alternative data on credit access for consumers
The Consumer Financial Protection Bureau has launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score.
Creating distinctive client value in destination services
We often hear from relocation directors and their brokers that they are feeling disenfranchised these days. Their core services for incoming transferees – personalized, needs-based, locally expert and top-agent supported – are too often bypassed by an internet-oriented generation that equates “electronic” with “faster and better.”
How to generate more leads in 2017
As a real estate professional, you know that leads are the lifeblood of your business. There are many ways to generate leads, whether through traditional means such as cold-calling and door-knocking, or through more reliable means such as asking for referrals from past and current clients and connections. Remember, the more leads you generate, the more business you'll close.
Leadership views of C-suite and millennial execs
With each passing day, millennial leaders assume an increasing role in steering both the nation's economy and the organizations that comprise it. Yet the subject of their leadership lacks adequate research, with widespread assumptions painting an often inaccurate picture.
Swift gains in Q4 push home prices to peak levels
The best quarterly sales pace of the year pushed available housing supply to record lows and caused price appreciation to slightly speed up in the final three months of 2016, according to the latest quarterly report by the National Association of Realtors.
New RIHA study details shifts in rented versus owner-occupied homes
The Research Institute for Housing America (RIHA) today released a new study examining the shift of existing housing stock between owner-occupied and rental over time.
Mortgage credit availability increases in January
Mortgage credit availability increased in January according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool.
Rosier economic sentiment boosts housing attitudes in January
The Fannie Mae Home Purchase Sentiment Index increased by 2 percentage points in January to 82.7, ending a five-month decline. Four of the six components that comprise the HPSI were up in January.
55+ housing market ends Q4 at record high
Builder confidence in the single-family 55+ housing market remains strong in the fourth quarter of 2016 with a reading of 67, up eight points from the previous quarter, according to the National Association of Home Builders' 55+ Housing Market Index released Feb. 3.
Retail trade, construction, financial sector boost employment numbers
Total nonfarm payroll employment increased by 227,000 in January, and the unemployment rate was little changed at 4.8 percent, the U.S. Bureau of Labor Statistics reported Feb. 3. Job gains occurred in retail trade, construction and financial activities.
MBA outlines recommendations for GSE reform
The Mortgage Bankers Association released a paper outlining its recommended approach for secondary mortgage market reform, with the objective of ending the conservatorship of Fannie Mae and Freddie Mac and establishing a new, durable foundation for the secondary mortgage market.
U.S. middle market finishes 2016 with strong performance
U.S. middle market companies reported an average revenue growth of 6.9 percent in the fourth quarter of 2016, capping off a strong year of overall growth, according to the National Center for the Middle Market (NCMM). Combined with steady job gains, this finding from the NCMM's Q4 2016 Middle Market Indicator (MMI) points to strong fundamentals for middle market firms in 2017
On the Job: How to Get More Done Each Day
Believe it or not, some simple adjustments in your daily habits can yield a more productive day and let you get a handle on your workload again.
New home sales post highest yearly total since 2007
Sales of newly built, single-family homes rose 12.2 percent in 2016 to 563,000 units, the highest annual rate since 2007, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Freddie Mac announces top multifamily lenders in 2016
Freddie Mac published a list of the 11 lenders who transacted the most multifamily financing volume with the company in 2016. Through these and other lenders, Freddie Mac Multifamily posted a record $56.8 billion in new multifamily volume last year, financing more than 738,000 rental units.
CoreLogic: Flooding, damaging wind most destructive natural hazards in 2016
CoreLogic released its annual Natural Hazard Risk Summary and Analysis, which shows relatively average or below-average activity for most U.S. natural hazards with the exception of flood and wind, both of which saw above-average activity, due in large part to Hurricane Matthew.
Existing-home sales slide in December; 2016 sales best since 2006
Existing-home sales closed out 2016 as the best year in a decade, even as sales declined in December as the result of ongoing affordability tensions and historically low supply levels, according to the National Association of Realtors.
Bank economists see tighter labor market driving wages higher
The U.S. economy will grow steadily through next year, creating more jobs and higher wages, according to the Economic Advisory Committee of the American Bankers Association. The group forecasts inflation-adjusted GDP growth of 2.1 percent this year and 2.3 percent in 2018, up from 2.0 percent last year.
Three new Instagram features and what they mean for real estate
When Instagram released major updates back in August, users were introduced to Stories, a photo-sharing opportunity similar to Snapchat. With the popularity of Stories increasing, Instagram has created additional features to make the platform even more unique.
Political uncertainty tempers housing outlook
Despite a strong year-end performance by the stock market and a post-election jump in confidence among consumers and businesses, limited information on the new administration’s potential economic policies led to a conservative 2017 growth projection of 2.0 percent, according to the Fannie Mae's research group.
Nationwide housing production up 11.3% in December on multifamily surge
A surge in multifamily production resulted in overall nationwide housing starts rising 11.3 percent to a seasonally adjusted annual rate of 1.23 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Single-family starts dropped 4 percent to a seasonally adjusted annual rate of 795,000 units.
Foreign real estate investors not dissuaded by interest rates, new administration
Foreign investors continue to view U.S. real estate as a sound investment, with an astounding 95 percent of those recently surveyed by the Association of Foreign Investors in Real Estate reporting they plan to "maintain or increase their investment" in 2017. U.S. real estate was ranked No. 1 by respondents for both security and stability, as well as opportunity for capital appreciation.
The latest evolution of real estate wire fraud
Most articles about real estate fraud have focused on the same scenario: hackers breaking into professionals' email accounts to learn about upcoming transactions, then emailing the buyer to wire money to the hacker's account. In reality, there are many other ways hackers insert themselves into communications.
Expanded data key to opening up mortgage credit
Trended credit data, which offers an expanded perspective to lenders evaluating a credit applicant, could be key to opening up mortgage credit accessibility, according to an analysis by Equifax, one of the three major credit reporting bureaus.
Maximize mortgage applications with women clients
In 2015, the homeownership rate of female householders in one-person households was 24.56 percent higher than the homeownership rate of male householders in the same category, according to U.S. Census Bureau data. Despite earning less, single women are becoming homeowners in formidable numbers.
Freddie Mac multifamily lending tops $56.8B in 2016
Freddie Mac announced today that it saw a record-setting $56.8 billion in loan purchase and bond guarantee volume in 2016, up from $47.3 billion in 2015. The company also announced it issued an unprecedented $51.2 billion in multifamily securities, effectively transferring the majority of credit risk from taxpayers to private investors.
December new home purchase mortgage applications Increase 2 percent YOY
The Mortgage Bankers Association Builder Applications Survey data for December 2016 shows mortgage applications for new home purchases increased 2 percent relative to December 2015.
Housing will continue gradual climb to higher ground in 2017
Fueled by a growing economy, solid employment gains and rising household formations, single-family production will continue on a gradual, upward trajectory in 2017, according to economists speaking at the National Association of Home Builders International Builders’ Show in Orlando this week.
NAR: FHA mortgage insurance premium reduction a fresh start
Lower costs are coming for homebuyers seeking a Federal Housing Administration insured mortgage. FHA announced Jan. 9 that they are cutting annual premiums for mortgage insurance from 0.85 percent to 0.60 percent, a move the National Association of Realtors said breathes new life into the program.
156,000 jobs added to economy in December
Total nonfarm payroll employment rose by 156,000 in December, and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in health care and social assistance.
Pending home sales backpedal in November
Pending home sales dipped in November to their lowest level in nearly a year as the brisk upswing in mortgage rates and not enough inventory dispirited some would-be buyers, according to the National Association of Realtors.
More than 80 percent of largest U.S. housing markets improving
Freddie Mac released its Multi-Indicator Market Index, showing the majority of the top 100 housing markets across the country steadily improving, with one additional state, Georgia, entering its outer historic benchmark range of housing activity.
DOL Overtime Rule delay: What to do if changes are already in process
The U.S. District Court for the Eastern District of Texas issued a preliminary injunction prohibiting the Department of Labor’s overtime rule from taking effect in December. The preliminary injunction has posed a problem for companies who have already adjusted their pay structures, changed employee status or advised their employees of the change to come. What can an employer do now?
Drones for real estate marketing: Are they worth it?
Now that more and more real estate agents have access to aerial photos and videos through drones, homebuyers and sellers are changing the way they expect to interact with real estate listings. Some of you might be thinking, "Is it really worth it for me to pay someone to take aerial photos and video of my listing?" Let's look at some numbers.
Disciplines to make 2017 your best year
No matter how good or bad the year 2016 was for your business, 2017 is going to be insanely profitable — but only if you have the five disciplines you need to seize those opportunities, says Tom Ferry, CEO of Ferry International and best-selling author of Life! By Design. The good news is, it’s not too late to develop or strengthen those disciplines.
Minority, renter households at center of low homeownership rate
The homeownership rate spiraled to its lowest point in 50 years earlier this year, and while it picked up in the third quarter, it remains off its recent peak. The populations bearing out the trend the most, according to a new analysis by the Pew Research Center, are low-income, minority, renter, and young adult households.
New home sales up 5.2 percent in November
Sales of newly built, single-family homes rose 5.2 percent in November to a seasonally adjusted annual rate of 592,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Post-election surge in mortgage rates paints gloomy picture for lenders
Mortgage lender expectations for near-term mortgage demand plummeted amid the rapid rise in interest rates following the U.S. presidential election, according to Fannie Mae’s fourth quarter 2016 Mortgage Lender Sentiment Survey.
Freddie Mac AIMI shows third consecutive quarter of multifamily growth
Freddie Mac announced multifamily investing fundamentals grew stronger in the third quarter, both nationally and in all 13 major metro markets tracked by the Freddie Mac Multifamily Apartment Investment Market Index.
Existing home sales forge ahead in November
A big surge in the Northeast and a smaller gain in the South pushed existing-home sales up in November for the third consecutive month, according to the National Association of Realtors.
Confidence improves at the prospect of pro-growth policies
Sentiment measures have improved to multi-year highs heading into next year, but 2017 is expected to deliver another year of pedestrian growth, according to the Fannie Mae Economic & Strategic Research Group’s December 2016 Economic and Housing Outlook.
Home sales expected to expand modestly in 2017
Existing-home sales are forecast to muster only a small gain in 2017 because of increasing mortgage rates and shrinking consumer confidence that now is a good time to buy a home, according to new consumer survey findings and a 2017 housing forecast update from the National Association of Realtors.
FHFA issues final rule on Fannie Mae and Freddie Mac duty to serve underserved markets
The Federal Housing Finance Agency has issued a final rule to implement the Duty to Serve provisions mandated by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. The statute requires Fannie Mae and Freddie Mac to serve three underserved markets – manufactured housing, affordable housing preservation, and rural housing – by improving the distribution and availability of mortgage financing for residential properties that serve low and moderate-income families.
Builder confidence closes year on a high note
Builder confidence in the market for newly-built single-family homes jumped seven points to a level of 70 on the National Association of Home Builders/Wells Fargo Housing Market Index. This is the highest reading since July 2005.
CFPB consumer credit trends tool forecasts potential consumer risks
The Consumer Financial Protection Bureau has unveiled Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks. The beta version of the tool covers the mortgage, credit card, auto loan, and student loan markets.
November new home mortgage applications Increase 12 percent year over year
The Mortgage Bankers Association Builder Applications Survey data for November 2016 shows mortgage applications for new home purchases increased 12 percent relative to November 2015. Compared to October 2016, applications decreased by 3 percent relative to the previous month.
Five ways to drive real estate leads with SEO
Having a hard time getting found online? How’s your social media footprint? Are your business profile, website and Facebook page drawing all the attention to your business that they could be? Here’s your chance to find out if you're doing everything you can to point people to your website, social pages and listings.
Tips for writing replies to any review
Reviews are powerful. They can be compelling enough to persuade consumers to reach out, or hurtful enough to shrink your business. That’s why responding to reviews is just as important as requesting them.
CFPB announces Fall 2016 rulemaking agenda
Under the Regulatory Flexibility Act, federal agencies must publish regulatory agendas twice a year. The OMB recently posted online CFPB's updated agenda submitted in early fall. Portions of that agenda will also be published in the Federal Register.Here’s a brief summary of various CFPB initiatives.
Refi applicants discouraged by limited credit access
The proportion of consumers who applied for credit and reported feeling “discouraged” by or “rejected” in their experience has clawed higher, especially among mortgage refinance applicants, in the Federal Reserve Bank of New York’s recently released Survey of Consumer Expectations Credit Access Survey for October 2016.
Independent mortgage bank volumes up, production profits stable in Q3
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,773 on each loan they originated in the third quarter of 2016, up from a reported gain of $1,686 per loan in the second quarter of 2016, the Mortgage Bankers Association reported Dec. 7 in its Quarterly Mortgage Bankers Performance Report.
FHA loan limits to rise in 2017
The Federal Housing Administration on Dec. 1 announced the agency's new schedule of loan limits, and due to an increase in housing prices, most areas in the country will see a slight increase in loan limits in 2017. These loan limits are effective for case numbers assigned on or after January 1, 2017, and will remain in effect through the end of the year.
Social media keeps changing but are you?
That pesky social media. Just when you think you’ve got a handle on it — that you’re hip, you’re in the game — the tectonic plates shift a bit and suddenly, you’re behind the curve. Staying current on social can be overwhelming and feel impossible.
CoreLogic: Home prices Up 6.7 percent in October
CoreLogic, a global property information, analytics and data-enabled solutions provider, released its CoreLogic Home Price Index (HPI) and HPI Forecast for October 2016 which shows home prices are up both year over year and month over month.
Freddie Mac: Housing markets steady with room for improvement
Freddie Mac released its Multi-Indicator Market Index (MiMi) Nov. 30, showing the majority of the top 100 largest housing markets across the country improving steadily, while helping to produce the best year in homes sales in a decade.
Pending home sales crawl forward in October
Pending home sales were mostly unchanged in October, but did squeak out a meager gain for the second consecutive month, according to the National Association of Realtors.
The Fed reports moderate growth pattern continues
According to the Federal Reserve’s Nov. 30 Beige Book release, the economy continued to expand across most regions from early October through mid-November. Residential real estate activity improved across districts. Reports about existing- and new-home sales were mixed, but most districts noted a slight to modest increase during the period.
A North-South divide emerges in defect, fraud and misrepresentation risk
First American released its October 2016 Loan Application Defect Index, showing a further decrease in the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications, with the highest levels of risk emerging in the South.
Drones take flight in real estate industry
If there’s one real estate trend that’s surely taken flight over the last couple years, it’s drones (pun very much intended). Drones are leveling-up listing photos, turning basic from-the-ground house shots into aerial masterpieces that showcase the entire property — water features, landscapes, mountain views, and more.
Modest economic growth expected despite legislative and regulatory uncertainty
The forthcoming change in the U.S. administration poses new uncertainties about the economy, but modest growth is still expected for 2016 and 2017, according to Fannie Mae’s Economic & Strategic Research Group’s November 2016 Economic and Housing Outlook.
Purchase applications drive increase in latest MBA weekly survey
Mortgage applications increased 5.5 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending Nov. 18.
Court Issues Injunction Prohibiting Dec. 1 Implementation of DOL Overtime Rule
The U.S. District Court for the Eastern District of Texas issued an injunction prohibiting the Department of Labor’s (DOL) overtime rule from taking effect on Dec. 1. The court was responding to a petition brought by 21 state attorneys general and several business coalitions, arguing that the DOL had overstepped its statutory authority.
Existing-home sales jump again in October
Existing-home sales ascended in October for the second straight month and eclipsed June's cyclical sales peak to become the highest annualized pace in nearly a decade, according to the National Association of Realtors. All major regions saw monthly and annual sales increases in October.
Finish the Year Strong with These Success Tips
Are you close to reaching your goals for the year? Whether you maintained your momentum throughout the year or you’re trying to catch up after a setback, you can still get on track to finish the year strong.
October new home mortgage applications increase 8 percent year over year
The Mortgage Bankers Association Builder Application Survey data for October 2016 shows mortgage applications for new home purchases increased 8 percent relative to October 2015. Compared to September 2016, applications decreased by 2 percent.
MBA, NAR weigh in on FHA's annual report to Congress
The Federal Housing Administration’s annual report boasting a healthy Mutual Mortgage Insurance Fund was impetus for the National Association of Realtors to call for FHA to reduce mortgage insurance premiums to better reflect the risk in the marketplace and to eliminate life-of-loan mortgage insurance. But the Mortgage Bankers Association was a bit more cautious, citing the continued volatility of the HECM book of business as a reason to remain conservative.
Apartment and condominium market posts positive gains in Q3
The Multifamily Production Index, released Nov. 17 by the National Association of Home Builders, posted a gain of three points to 53 in the third quarter. The MPI has been at 50 or above since the beginning of 2012.
Keeping in touch: It's more than updating your holiday list
According to the 2015 National Association of Realtors Profile of Home Buyers and Sellers, 41 percent of buyers were referred to their real estate agent by a friend, neighbor or relative, and 12 percent used the agent who assisted them in a previous transaction. Cultivating relationships with clients can pay off in the long run.
More companies move to integrate marketing and communications
More companies today are seeing greater efficiency and benefit in operating marketing and communications as a single function, according to a recent Conference Board report.
Study: 'Unscoreable' consumers likely as creditworthy as 'scoreables'
Consumers deemed “unscoreable” by conventional credit scoring models — and shut out of access to credit, including mortgages, as a result — are likely to be as creditworthy as “scoreables,” a recent study by VantageScore Solutions reveals.
Serious delinquency rate lowest since 2007
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased 14 basis points to a seasonally adjusted rate of 4.52 percent of all loans outstanding at the end of the third quarter of 2016. This was the lowest level since the second quarter of 2006 when the delinquency rate was 4.39 percent, according to the Mortgage Bankers Association's National Delinquency Survey.
Housing affordability edges lower in Q3
Ongoing home price appreciation offset a small decline in mortgage interest rates to move housing affordability slightly lower in the third quarter of 2016, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released Nov. 10.
Top 3 reasons to use electronic notarizations
With remote e-notarizations, digital signature technology is used to sign documents securely. Video conferencing allows notaries to witness signatures from all parties involved, and then they use e-notary technology to notarize documents electronically.Read on for the top three reasons to begin using remote e-notarizations.
Housing recovery continues at modest pace
Markets in 162 of the approximately 340 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2016, according to the National Association of Home Builders/First American Leading Markets Index (LMI) released Nov. 7. This represents a year-over-year net gain of 73 markets.
Consumer pessimism on display as HPSI drops again
The Fannie Mae Home Purchase Sentiment Index (HPSI) dipped 1.1 points to 81.7 in October, the third decrease in as many months.
Commercial/multifamily originations to grow 4 percent in 2017
The Mortgage Bankers Association (MBA) projects originations of commercial and multifamily mortgages will grow to $537 billion in 2017, an increase of 4 percent from expected 2016 volumes of $515 billion.
Freddie Mac: Real estate professionals influence clients' lender choice
Most real estate professionals refer clients to a select group of lenders and they choose those companies based on the ease of doing business with them, their reputations, and the strength of those relationships, according to a survey commissioned by Freddie Mac.
Housing supply crunch accelerates metro home price growth during Q3
Persistent supply shortages throughout the country led to slightly faster home price appreciation during the third quarter, according to the latest quarterly report by the National Association of Realtors. The report also revealed that seven of the 10 most expensive housing markets in the U.S. are in the West.
First-time Buyers, Single Women Gain Traction in NAR’s 2016 Buyer and Seller Survey
The quickening pace of home sales over the past year included a small rebound from two key segments of buyers who have been missing in action in recent years: first-time buyers and single women.
Basic Training: Tools vs. Skills
The tools that real estate agents and brokers have at their fingertips are second to none, and we, as an industry, are quick to innovate and purchase more tools. That’s the good news. The bad news is that all the best tools in the world won’t close a transaction, and the tools won’t work if you don’t learn how to use them.
NAHB says HUD proposed elevation standards a ‘disaster’ for housing affordability
In the face of increased flooding risks and rising sea levels, the U.S. Department of Housing and Urban Development proposed elevation standards for all HUD-supported properties. NAHB lashed out against the proposal, claiming HUD is overstepping its bounds and that the proposal would be a “disaster for housing affordability.”
U.S. housing market continues steady improvement
Freddie Mac released its Multi-Indicator Market Index (MiMi), showing three additional states – Indiana, Alabama and New Jersey – and one additional metro area – Dayton, Ohio – entering their historic benchmark levels of housing activity.
Pending home sales shift higher in September
Pending home sales shifted higher in September following August's notable dip and are now at their fifth highest level over the past year, according to the National Association of Realtors. Increases in the South and West outgained declines in the Northeast and Midwest.
Multifamily lending up 28 Percent in 2015
In 2015, 2,855 different multifamily lenders provided a total of $249.8 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association's Annual Report on Multifamily Lending.
Know Before You Owe: A one-year lookback
Comprehensive regulatory overhauls are never easy, and harmonizing the Truth in Lending Act and the Real Estate Settlement Procedures Act through the Consumer Financial Protection Bureau’s “Know Before You Owe” mortgage initiative has been no exception.
Generating listings in low inventory markets
The greatest thing about real estate is that there are a lot of options for creating new listings, but one of the saddest things is that only a few agents are taking full advantage of those options. According to Dirk Zeller, the problem isn’t that they don’t know what to do; the problem is that their ratio of direct income producing activities is not proportionate to their production supporting activities.
U.S. economy expected to grow 2.4 percent in second half
Economic growth is expected to average 2.4 percent in the second half of the year, up from 1.1 percent in the first half but at a slightly slower pace than predicted in the prior forecast, according to Fannie Mae’s Economic & Strategic Research Group’s October 2016 Economic and Housing Outlook.
The Fed reports economy continues to grow, construction continues to expand
Reports from the 12 Federal Reserve Districts suggest national economic activity continued to expand during the reporting period from late August to early October. Residential construction and real estate activity expanded further, home price appreciation continued at a modest pace in general, and commercial real estate activity and construction improved since the last report.
RESI: Strong Outlook for Refis Drives Increase in Market Confidence
According to the Q3 2016 First American Real Estate Sentiment Index (RESI), title agents exhibited a 7.6 percent increase in market production confidence.
How to Use Instagram to Help Build Business
Instagram just passed the 400-million-user mark, and with the U.S. population spending an average of 1.7 hours on social media every day, this is a big deal for your business. Think you don’t need Instagram followers? Consider that 61 percent of Instagram users are between the ages of 18-64.
Mortgage rates tick higher
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates following Treasury yields and moving higher.
How to create a successful routine
Although the concept of a routine sounds boring, having one is crucial to your success. Want to create a better routine? Here’s how.
High-performance home marketing services more important than ever
Corporate transfer reluctance has declined consistently from its 78 percent high (2012) to 35 percent (2015) according to Worldwide ERC’s annual U.S. Transfer Volume & Cost Survey. Transferee homeowners are less likely to decline job transfers because of departure housing-related reasons. So how can you enhance the value you already bring to corporate transferees?
CoreLogic: Foreclosure inventory down nearly 30% from August 2015
CoreLogic released its August 2016 National Foreclosure Report which shows the foreclosure inventory declined by 29.6 percent and completed foreclosures declined by 42.4 percent compared with August 2015.
Consumers Show Increased Caution in Home Purchase Sentiment in September
The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 2.2 points to 82.8 in September, moving further off of survey highs.
Health care, professional services boost hiring in September
Total nonfarm payroll employment increased by 156,000 in September, and the unemployment rate was little changed at 5.0 percent, the U.S. Bureau of Labor Statistics reported Oct.7. Employment gains occurred in professional and business services and in health care.
NAR: FHA Single Family Handbook update delivers clarity for appraisers
HUD recently announced updates to their SF Handbook that clarifies new requirements for appraisers to operate and physically observe appliances on a property during the completion of an appraisal.
Job opportunities in residential construction offer career path for millennials
As the National Association of Home Builders (NAHB) celebrates Careers in Construction Month in October, builders around the country are seeking skilled craftsmen to help them build the American Dream.
Seven tips for winning over your share of buyers
As a real estate salesperson, one of your goals is to win over your share of buyers – and perhaps even more than your share. To do that, you need to understand what homebuyers want from their agent, and from the home-buying experience.
Five social media strategies for customer engagement
Social media pages, such as Facebook, Instagram, Twitter, etc., are all popular platforms you can use to generate awareness about your services and qualifications, while also maintaining and building those relationships with your clients. You may not think people are interested in what you have to say, but they are. You just have to say it the right way.
Three tips to convert online leads every time
Finding new prospects is the lifeblood of any real estate practice. Lead generation is one of the most profitable tasks you can factor into your schedule, especially in today’s market. But what happens after you capture new leads?
Seven rules to managing a productive real estate team
Every MLS market has a highly productive real estate team. They are a dominating force and everyone knows their “For Sale” signs. We often wonder, “Who leads them and what do they do differently?”
Millennials balance hopeful aspirations and harsh economic realities
A new national survey of Millennials reveals a generation convinced the economy is failing them, a generation that is willing to work hard to better their lot, and a generation experiencing a great deal of anxiety about the future.
New index shows housing market moving deeper into buy territory
The United States housing market as a whole is moving marginally deeper into buy territory, according to a new index from Florida Atlantic University and Florida International University which suggests that, on average, the majority of housing markets around the country are in good shape and remain a sound investment.
How to stay motivated: The art and science of leveraging small wins
Humans by nature are goal-oriented beings – we often experience the burning excitement of a new goal, which gives us the motivation to take our first steps toward achieving it. Perhaps your goal is to lose weight, become the top salesperson in your company, or save up enough money for that dream trip to Greece.
How to create an unstoppable business
According to a recent Gallup poll, half of all small businesses fail within five years of opening. Some fail because they run out of money; others because the stress of running a business takes its toll. Whatever the reason, opening a business is a risky endeavor. However, by following these seven steps, you can create a business that defies the odds and lasts.
CoreLogic reports a 3.9 percent YOY increase in mortgage fraud risk in Q2
CoreLogic released its latest Mortgage Fraud Report on Sept. 22, showing a 3.9 percent year-over-year increase in fraud risk, as measured by the CoreLogic Mortgage Application Fraud Risk Index.
Existing-home sales soften further in August
Existing-home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay, according to the National Association of Realtors. Only the Northeast region saw a monthly increase in closings in August, where inventory is currently more adequate
NAHB concerned ESA changes to NFIP will harm housing affordability
The National Association of Home Builders has urged Congress to oppose the inappropriate use of the Endangered Species Act to change the focus of the National Flood Insurance Program away from protecting lives and property due to flooding loss.
Housing production hits a mild speed bump in August
Nationwide housing starts fell 5.8 percent to a seasonally adjusted annual rate of 1.14 million units in August, according to newly released data from the U.S. Housing and Urban Development and the Commerce Department. Overall permit issuance edged 0.4 percent lower.
NAR study: Real estate firms have positive outlook, despite sales volume decrease
The vast majority of real estate firms have an optimistic outlook for the future of the industry’s profitability and growth, according to the National Association of Realtors 2016 Profile of Real Estate Firms. Profitability expectations have declined from the 2015 survey, mainly due to inventory shortages and home-price growth, but real estate firms remain confident about their overall future profitability.
Economic growth on the upswing, with a few emerging soft spots
Economic growth is poised to accelerate to 2.6 percent in the second half of the year, a rebound from the lackluster growth of 1.0 percent in the first half of 2016, according to Fannie Mae’s Economic & Strategic Research Group’s September 2016 Economic and Housing Outlook.
Builder confidence surges in September
Builder confidence in the market for newly built, single-family homes in September jumped six points to 65 from a downwardly revised August reading of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. This marks the highest HMI level since October 2015.
Lender profit expectations more positive as compliance cost concerns recede
Mortgage lenders have reported a net positive profit margin outlook for a third consecutive quarter, according to Fannie Mae’s third quarter 2016 Mortgage Lender Sentiment Survey.
Financial regulators release revised information security booklet
The Federal Financial Institutions Examination Council members issued a revised Information Security booklet, which is part of the FFIEC Information Technology Examination Handbook.
Affordability, down payment uncertainty stalling first-time homebuyers
Lofty home-price growth and tight supply are leading to softening confidence among renters about whether it’s a good time to buy a home, according to the latest installment of the NAR Housing Opportunities and Market Experience (HOME) survey. The survey also found that a misconception about how much of a down payment is needed to buy could be unnecessarily delaying some qualified homebuyers.
Leveraging the power of client reviews
One of the most common questions I hear from our clients is, “How do I grow my customer reviews?” Client reviews are a powerful marketing tool — they offer the peer evaluation shoppers have come to trust, and you can bet that in this digital age, potential buyers or sellers will look you up online to see your reviews from past clients.
Visual Storytelling: Tips for mastering the art of Instagram
Creating and implementing a consistent social media strategy is vital for real estate agents looking to cultivate online leads while maintaining current relationships. For real estate agents wanting to reach every type of buyer possible, social media is a resource you can’t go without, or else money will be left on the table and market share will surely decrease.
HPSI points to continued, moderate strengthening of housing
Fannie Mae’s Home Purchase Sentiment Index shows that consumers have a fairly optimistic 12-month outlook on housing, supported by increased job confidence and more favorable expectations regarding their personal financial situations compared with this time last year.
Commercial/multifamily delinquencies remain low in second quarter
Delinquency rates for commercial and multifamily mortgage loans remained low in the second quarter of 2016, according to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report.
Preventing wire fraud is a team effort
The real estate industry has recently been a primary target of wire fraud. Buyers have lost hundreds of thousands of dollars as a result. Fortunately, there are steps that you and your buyers can take to protect everyone from fraud.
Freddie Mac reports housing market holding steady
Freddie Mac released its Multi-Indicator Market Index (MiMi), showing South Carolina and two additional metro areas – Atlanta and Augusta, Georgia – entering their historic benchmark levels of housing activity.
151,000 jobs added in August, unemployment rate remains at 4.9 percent
Total nonfarm payroll employment increased by 151,000 in August, and the unemployment rate remained at 4.9 percent, the U.S. Bureau of Labor Statistics reported on Sept. 2. Employment continued to trend up in several service-providing industries.
Five ways big data is changing real estate
Every facet of the business world has been radically changed by the way data is collected, analyzed and transmitted. So much so, that past models of how major industries were run have now become largely obsolete. Data analysis is considered the “gold standard” by which companies look at the future.
Four must-do farming tips for new agents
According to the National Association of Realtors, there are just over one million active real estate licensees in the United States. With new agents joining the market every day, competition can be fierce. Becoming a real estate agent can be both exciting and highly rewarding, but it can present potential challenges as well.
Commercial real estate expansion foreseen
Buoyed by a steadily improving labor market and strong demand for multifamily housing, commercial real estate activity should remain on an upward trajectory, with a growing share of it is expected to be in smaller markets, according to the National Association of Realtors quarterly commercial real estate forecast.
How to create real estate listings that sell
Online listings are the first step of almost every real estate sale these days so it is crucial that yours be in great shape. Attracting buyers with property listings can be a challenge for many real estate agents, but if you keep the right things in mind, it is easy to use them effectively.
Existing-home sales lose steam in July
Slowed by frustratingly low inventory levels in many parts of the country, existing-home sales lost momentum in July and decreased year-over-year for the first time since November 2015, according to the National Association of Realtors. Only the West region saw a monthly increase in closings in July.
Cookies can't redeem a bad first impression
Open houses are meant to help sell a home by attracting agents and potential homebuyers. Therefore, the most important aspect of an open house is getting people to show up and look at the property. But how can you attract the most people?
GSEs publish redesigned Uniform Residential Loan Application form and dataset
Fannie Mae and Freddie Mac announced the publication of the redesigned Uniform Residential Loan Application, the standardized form used by borrowers to apply for a mortgage loan.
New home sales climb to highest level since October 2007
Sales of newly built, single-family homes rose 12.4 percent in July from a downwardly revised June reading to a seasonally adjusted annual rate of 654,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Rising home prices affect housing affordability in the Q2
Solid home price appreciation more than offset a modest reduction in mortgage interest rates to push housing affordability lower in the second quarter of 2016, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
Mortgage originations expected to top $2 trillion
Freddie Mac released its monthly Outlook for August showing that for the first time since 2012, mortgage originations are expected to top $2 trillion in 2016.
Consumer spending expected to bolster economic growth for second half of 2016
Economic growth is expected to rebound in the second half of 2016 after a disappointing second quarter, keeping the full-year growth outlook at 1.8 percent, according to Fannie Mae. However, continued momentum in consumer spending in the third quarter is crucial for driving growth as business investment is struggling.
5 ways to grow your brand awareness using promotional merchandise
When competition is fierce and customers are continuously bombarded with products and services, how can you stand out from the crowd? How can you make customers believe that what you offer is superior? How can you gain their trust and loyalty? Branding is the answer.
What you need to know about the Data Security Act of 2015
Businesses are at the mercy of hackers, sniffers, and the criminal element who are after your data. Many states have their own regulatory requirements, and this lacks uniformity and creates issues for those who do business across the United States. H.R. 2205 is attempting to create business compliance which will supersede the state regulations and protect consumer information.
Attract new clients through your website
It’s no secret that the Internet is a hotbed of real estate. Between Zillow, Trulia, Redfin and the countless other real estate websites, it’s also extremely competitive. Before you write off using a website for increasing your sales, consider this: 80 percent of potential buyers research on the Internet before purchasing. With the right strategy, you can get your slice of that 80 percent and increase your leads and sales.
Dip in distressed saturation levels impacts affordability
Most markets across the nation remain relatively unchanged, but a longer term dip in distressed saturation levels in the West indicates a strong recovery at the expense of overall affordability, according to Clear Capital’s Home Data Index Market Report.
Home price gains unfettered in most metro areas during Q2
Home prices maintained their robust, upward trajectory in a vast majority of metro areas during the second quarter, causing affordability to slightly decline despite mortgage rates hovering at lows not seen in over three years, according to the latest quarterly report by the National Association of Realtors. The report also revealed that for the first time ever, a metro area – San Jose, California – had a median single-family home price above $1 million.
10 Links to Success from Floyd Wickman
It’s one thing to become successful, but how do you stay successful year after year? To be successful at anything, you have to start with being a successful person. Realtor Floyd Wickman tells agents they can’t be successful in real estate until they’ve first achieved success as a person.
Mortgage credit availability increases, MBA updates MCAI methodology
Mortgage credit availability increased in July according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association which analyzes data from Ellie Mae's AllRegs Market Clarity business information tool. MBA also announce it has updated its methodology to better measure credit availability and has released a new historical series based on this updated methodology.
HPSI surpasses survey high, as Millennials shift towards purchase market
Fannie Mae’s Home Purchase Sentiment Index (HPSI) increased 3.3 points to 86.5 in July, reaching a new all-time survey high and indicating a more positive outlook in the housing market-specific HPSI components. Each of the six HPSI components increased in July.
Multifamily market headed for record $280B year despite moderating fundamentals
Nationally, multifamily origination volumes are on track to increase seven percent and set a new annual record of $280 billion in 2016, according to the Freddie Mac Multifamily Research Group. Nevertheless, origination growth is moderating compared to the same period in 2015, when volumes rose by 35 percent.
The four keys to reproducible results
Matthew and Janice are emerging entrepreneurs who recently went into business together. During a meeting, they discussed their future profit projections and how well their business is performing financially six-months after its opening. What began as a conversation about dollars and profit margins quickly turned into a debate over the Great Recession, and the benefits of transforming an organization primarily driven by profit, to an organization led by purpose-driven employees.
FinCEN expands reach of real estate ‘Geographic Targeting Orders’ beyond Manhattan and Miami
The Financial Crimes Enforcement Network announced Geographic Targeting Orders (GTO) that will temporarily require U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential real estate in six major metropolitan areas.
Attracting the Right Talent
One of the biggest issues facing brokers and teams today is their ability to find, attract and hire talent. To keep any office humming along efficiently, it’s critical to get the right people in key positions.
Uncertainty drives homebuying, data shows
Fueled by an era of uncertainty, consumers turn to homebuying as a means of stability, a new study shows.
Stay connected to your business when you're on the go
As a busy real estate professional, you’re likely most productive when you’re away from your desk and out meeting with clients, showing homes and presenting your home marketing plan to potential sellers. Luckily, technology has made it possible to run your business from anywhere with the help of your smartphone or tablet.
Facebook Live the latest trend to infiltrate the open house scene
For real estate agent Zac McHardy — hailing out of Australia — showing potential buyers through a house via Facebook Live has not only amped up local interest in the home located at 188 Newman Road, Geebung, Queensland, it has also set him on a path of viral fame.
Existing-home sales ascend in June, sparked by first-time buyers
Boosted by a greater share of sales to first-time buyers, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month, according to the National Association of Realtors. NAR also reported that pending home sales were mostly unmoved in June, but did creep slightly higher, as supply and affordability constraints prevented a bigger boost in activity.
Fannie Mae enhances HomeReady Mortgage to expand access to credit
Fannie Mae announced enhancements to HomeReady, the affordable mortgage option designed to meet the diverse needs of borrowers.
Boomerang buyers making a gradual return
While millions of former homeowners reentering the buying market would have a significant impact on home sales, CoreLogic reports that historical data shows a more gradual return rate for those who lost their homes to foreclosure, with less than half returning to homeownership even 16 years after the foreclosures were completed.
55+ buyers remain actively engaged in real estate market
Freddie Mac released its monthly Insight for July with further analysis of the perceptions and plans of 55+ homeowners and the impact they'll have on the broader housing market for years to come, based on the results from the Freddie Mac 55+ Survey.
The real estate professional's SEO guide for using keywords
Keyword selection is the heart of an SEO campaign. If you select the wrong keywords, most or all of your subsequent campaign investment will be wasted, even if you use brilliant SEO techniques. Here are best practices for selecting and deploying keywords in your SEO campaign. Follow these guidelines and you will attract relevant traffic and generate great leads as a result.
Consumer spending lifts growth as businesses face headwinds
The economic growth outlook for the second half of the year remains unchanged from the prior forecast at about 2.0 percent, according to Fannie Mae. Consumer spending is expected to drive growth for the rest of 2016, as businesses face headwinds from shrinking profits, weak productivity, and rising labor costs in the face of uncertainty stemming from Brexit and the U.S. presidential election.
How to build your brand
If you have a business, you have a brand, and each time you connect with your clients — whether in person, on the phone or online — you have a chance to build your brand and create loyal advocates.
Builder confidence holds firm in July
Builder confidence in the market for newly built, single-family homes in July fell one point to 59 from a June reading of 60 on the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB said builder confidence has remained in a relatively narrow positive range that is consistent with the ongoing gradual housing recovery.
NAR-backed condo legislation passes U.S. Senate, offers relief for homebuyers
The U.S. Senate last week passed H.R. 3700, the "Housing Opportunity Through Modernization Act," by unanimous consent. This legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions.
NAR reports slight decline in international sales volume
Waning economic growth in many countries and higher home prices further enhanced by a strengthening U.S. dollar resulted in a slight decline in international sales dollar volume of U.S. property over the past year and a significant retreat in buying from non-resident foreigners.
Mortgage Credit Availability Decreases in June
Mortgage credit availability decreased in June according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association which analyzes data from Ellie Mae's AllRegs Market Clarity business information tool.
3 Essentials to Achieving Success
The most successful people have three things in common: a positive attitude, the drive to succeed and the habits in place to help them reach their goals. One of my mentors, Jim Rohn, said if you work harder on your business than you do on your job, you’ll go from making a living to making a fortune.
Down Payment Assistance Programs Save Homebuyers More Than $17K
Analysis of the impact of down payment assistance on the cost of buying a home — including the down payment and monthly house payments for a median-priced home in 513 counties nationwide — was released this week in a joint report by RealtyTrac and Down Payment Resource.
MBA Releases Updated Commercial/Multifamily Real Estate Finance Forecast
The Mortgage Bankers Association projects originations of commercial and multifamily mortgages will total $500 billion in 2016, roughly flat from the $504 billion originated in 2015 and slightly less than the record of $508 billion originated in 2007.
Builders Urge Caution as Congress Seeks to Reauthorize NFIP
Extreme flood insurance rate hikes and inaccurate floodplain maps drive up the cost of homeownership and threaten small businesses, the nation’s home builders told Congress at a June Senate hearing.
Employment Numbers Roar Back in June
Total nonfarm payroll employment increased by 287,000 in June, and the unemployment rate rose to 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in leisure and hospitality, health care and social assistance, and financial activities.
Loan Application Defect and Fraud Risk Reaches Historically Measured Low Point
The First American Loan Application Defect Index, which reflects estimated mortgage loan defect rates over time, by geography and by loan type, is down 28.4 percent from the high point of risk in October 2013.
Fannie and Freddie Prevent Nearly 3.7 Million Foreclosures
The FHFA recently reported that Fannie Mae and Freddie Mac completed 49,573 foreclosure prevention actions in Q1 2016, bringing the total number of foreclosure prevention actions to nearly 3.7 million since September 2008. These measures have helped more than 3 million borrowers stay in their homes, including nearly 1.9 million who received permanent loan modifications.
Understanding First-Time Homebuyers: What to Know and How to Serve
The summer buying season is in full swing, and first-time homebuyers make up a sizeable portion of your firm’s potential clientele — 32 percent, according to the National Association of Realtors. What do we know about today’s first-time homebuyer?
ALTA Board Approves Modifications to Best Practices
ALTA’s Board of Governors on June 9 approved proposed changes to the association’s “Title Insurance and Settlement Company Best Practices” to better reflect market needs and trends.
Stay Safe Online: What Is Ransomware and How Can I Avoid It?
Reports of ransomware — an invasive software that demands ransom to access unlawfully locked digital files — have risen in the last year, according to the National Cyber Security Alliance (NCSA) (StaySafeOnline.org).
Pending Home Sales Skid in May
After steadily increasing for three straight months, pending home sales let up in May and declined year-over-year for the first time in almost two years, according to the National Association of Realtors. All four major regions experienced a cutback in contract activity last month.
Top 4 Ways to Build a Winning Prospecting Plan
It’s never too early or too often to take a close, strategic look at your prospecting plan. In addition to providing a wonderful experience for your homebuyers, your online property data program can be a rich and insightful resource for finding your next clients and buyers.
Are You Limiting Your Social Reach? Five Unique Ways to Break Through
If you search online for tips about increasing your social reach, you’ll probably find articles about posting useful information, following the 80/20 rule, and keeping your audience engaged by responding to their comments and questions. While these tips are important, what are some new ways you can boost the number of people seeing your social posts?
Housing to Stay on Track Despite Rising Prices
Freddie Mac released its monthly outlook for June, showing that low mortgage rates are helping to keeping housing on track despite rapidly rising house prices.
Commercial Drone Use Set to Take Flight with Release of FAA Rule
Commercial drone use in the real estate business got a boost with the release of the Federal Aviation Administration's final rule governing small unmanned aerial systems, or UASs, in the national air space.
Existing-Home Sales Grow 1.8 Percent in May, Highest Pace in More Than Nine Years
Existing-home sales sprang ahead in May to their highest pace in almost a decade, while the uptick in demand this spring amidst lagging supply levels pushed the median sales price to an all-time high, according to the National Association of Realtors. All major regions except for the Midwest saw strong sales increases last month.
8 Red Flags that Your Company Needs a Service Overhaul
Joseph Michelli — who worked with Mercedes-Benz USA to positively and dramatically transform its customer experience and who has written books on service giants like Zappos and Starbucks — knows just how hard it is for most organizations to keep customers happy for the long haul. Here, he shares eight service-related red flags that require your immediate attention.
Economic Growth Outlook Holds Steady for 2016
Encouraging signs from consumer spending and housing activity in early Q2 now tempered by labor market slowdown, according to Fannie Mae.
Helping Your Clients Understand Appraisals and Your Appraiser Understand the Property
There can be a lot of misunderstanding around the appraisal process, particularly with the new emphasis on appraisal independence. But real estate agents can actually play a powerful role in providing important information to the appraiser and in helping their clients understand the purpose and scope of the appraisal. Here are a few things real estate agents should keep in mind as they guide their clients.
Massive Actions Create Massive Results
Most of the time, the key to success is not the person or the market; rather, the activities we focus on each day are those that produce the greatest return on our time investment. I would go so far as to say it’s our massive actions that generate the greatest results.
Builder Confidence Rises Two Points in June
After holding steady for the past four months, builder confidence in the market for newly constructed single-family homes rose two points in June to a level of 60 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since January 2016.
Lenders: Purchase Mortgage Demand Expected to Grow, Credit Standards Unchanged
Lender attitudes toward the housing market are positive overall heading into Q3, having recovered from a significant decline in recent quarters, according to Fannie Mae’s second quarter 2016 Mortgage Lender Sentiment Survey.
Salmon Introduces Bill to Fine Tune CFPB Complaint Database
U.S. Representative Matt Salmon (R-AZ) introduced a bill on June 8 that would require the Consumer Financial Protection Bureau (CFPB) to verify and put into context the consumer complaints they are presenting.
71 Percent Believe Student Debt Delays Homeownership
Seventy-one percent of non-homeowners repaying their student loans on time believe their debt is stymieing their ability to purchase a home, and slightly over half of all borrowers say they expect to be delayed from buying by more than five years.
268,000 U.S. Homeowners Regained Equity in Q1
CoreLogic released a new analysis showing 268,000 homeowners regained equity in Q1 2016, bringing the total number of mortgaged residential properties with equity at the end of Q1 2016 to approximately 46.7 million, or 92 percent of all mortgaged properties.
Commercial/Multifamily Mortgage Delinquency Rates Low, Record Decline for CMBS Loans
Delinquency rates for commercial and multifamily mortgage loans remained low in the first quarter of 2016, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report.
Independent Mortgage Bank Profits Up from Previous Quarter, Down Year-over-Year
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $825 on each loan they originated in the first quarter of 2016, up from a reported gain of $493 per loan in the fourth quarter of 2015, the Mortgage Bankers Association reported in its Quarterly Mortgage Bankers Performance Report.
Increase in Consumers' Household Income Growth Perceptions Boosts HPSI
Fannie Mae’s Home Purchase Sentiment Index increased 1.6 points to 85.3 in May, reaching a new all-time survey high and rebounding from an 18-month low in March. Three of the six HPSI components increased in May, led by a 7 percentage point increase on net in the share of consumers reporting that their income was significantly higher than it was 12 months ago.
NAR Member Survey Shows Younger Realtors Entering the Industry
The median age and years of experience of Realtors has decreased as new and younger professionals enter the industry, according to the 2016 National Association of Realtors Member Profile.
10 Top Senior Housing Trends for 2016
The shape of senior living communities across the world has changed drastically over the past several years. Baby boomers have their own unique ideas of what their retirement years are going to look like, and the industry must change in order to fit the shape of their unique preferences. This year’s anticipated trends don’t look like your grandmother’s retirement!
Talking Tech with Tyler Smith
Seth Kaplan interviews Tyler Smith, the Founder and CEO of SkySlope, a real estate industry leader in digital transaction management software. Having been a top-producing agent himself, Tyler offers a unique perspective from both sides of equation.
5 Ways to Wow Your Clients
It’s the little things you do to show your clients you care, that you appreciate them as people and want to establish the trust that prompts them to work with you again in the future and refer you to their family and friends.
FHA Looks to Strengthen Reverse Mortgages
The Federal Housing Administration (FHA) recently proposed a new rule to strengthen its Home Equity Conversion Mortgage (HECM) Program. In addition to formalizing many of the structural improvements announced recently, FHA’s proposed rule is intended to make certain FHA-insured reverse mortgages remain a viable and sustainable resource for senior homeowners.
Reasons You Shouldn’t Hide from Competitors
A real estate agent recently asked whether he should do anything about his competitors following his Facebook business page. He thought it could be prudent to ban or remove them. I understood the reasoning of the question; a competitor might steal his great marketing ideas. But as I thought it through, I honestly couldn’t come up with a single legitimate reason to ban anyone from a Facebook page.
The Ultimate Listing Strategy
Many top performers will tell you that one of the keys to their success is their ability to control and dominate listings. We teach our coaching clients that each listing should result in 1.5 buyer-side transactions, so every time you list a home, you should close 2.5 real estate sides.
Pending Home Sales Lift Off in April to Over 10-Year High
Pending home sales rose for the third consecutive month in April and reached their highest level in over a decade, according to the National Association of Realtors. All major regions saw gains in contract activity last month except for the Midwest, which saw a meager decline.
Housing Starts up 6.6 Percent in April
Nationwide housing starts rose 6.6 percent to a seasonally adjusted annual rate of 1.17 million in April, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.
Existing-Home Sales Rise in April for Second Straight Month
Despite ongoing inventory shortages and faster price growth, existing-home sales sustained their recent momentum and moved higher for the second consecutive month, according to the National Association of Realtors. A surge in sales in the Midwest and a decent increase in the Northeast offset smaller declines in the South and West.
Economic Growth Subpar, But Late Year Surge Anticipated
Fannie Mae lowered its full-year economic growth forecast to 1.7 percent, but expects economic growth to bounce back through the remainder of the year amid improved financial conditions, with consumer spending remaining an engine for growth and the housing and government sectors making positive contributions.
3 Top Tips for Effective Online Farming
With your audience’s constant smartphone use, it can be tough to get people to notice the billboards or bench signs that would have been easily recognizable during a standard geo-farming campaign. That raises the question, how can you reach buyers and sellers in your area when everyone is glued to their phones and tablets? You’ve heard a lot about geographic farming, but what do you know about digital farming?
Millennials Changing Face of America, Heavily Impacting Homeownership
Millennials are bucking trends, changing the landscape of America, and sharply different from previous generations in many different ways. One of the most visible and consequential ways is through millennial homeownership numbers, according to experts on generational trends and homeownership presenting at the 2016 Realtors Legislative Meetings & Trade Expo.
Real Estate Agents, Appraisers Voice Concerns over FHA Appraisal Policies
While the Federal Housing Administration’s overhaul of its Single-Family Housing Policy Handbook last year offered loan originators more clarity on lending policies and loan underwriting standards, some changes made to the property valuation policies are causing confusion and delays, according to speakers at a real property valuation forum at the 2016 Realtors Legislative Meetings & Trade Expo.
Prepping Foreign Sellers Early in the Process on FIRPTA Requirements Can Prevent Closing Table Issues
Recent changes to FIRPTA have shone a spotlight on the challenges facing real estate agents and settlement service providers when handling transactions for non-U.S. citizens selling their U.S. property. While there are indeed a few extra hoops to jump through, the requirements don’t have to be closing-table deal-killers, if all parties understand the rules and put procedures in place that will ensure a smooth closing.
ALTA Survey Shows More Homebuyers Reviewing Mortgage Disclosures
More homebuyers are reviewing their mortgage documents prior to their real estate closing under new federal regulations, according to results of a Home Closing Survey conducted by the American Land Title Association.
The Age of Innovation: 3 Facts Agents of the Future Must Face Today
One thing we can always count on is change, and today we are on the cusp of big events in the world of real estate. Five years from now, the way agents engage with the market will be markedly different than it was five years ago.
ABA Reports Rise in Demand for Commercial Real Estate Loans
Eighty-two percent of banks plan to increase capital concentration in commercial real estate, according to the American Bankers Association’s first annual Commercial Real Estate Lending Survey.
Overall Builder Confidence in the 55+ Housing Market Remains Positive in Q1
Builder confidence in the single-family 55+ housing market remains in positive territory for the first quarter of 2016 with a reading of 56, according to the National Association of Home Builders' 55+ Housing Market Index.
Home Purchase Sentiment Index Increases to 83.7 in April
Fannie Mae’s Home Purchase Sentiment Index increased 3.5 points to 83.7 in April, bouncing back from an 18-month low in March, yet overall consumer housing sentiment has remained generally flat.
Metro Home Prices Maintain Steadfast Growth in First Quarter
An uptick in sales activity amidst meager supply levels upheld the trend of unwavering price gains in an overwhelming majority of metro areas during the first quarter of the year, according to the latest quarterly report by the National Association of Realtors.
CFPB Seeks Comment on Proposal to Ban Arbitration Clauses
The Consumer Financial Protection Bureau is seeking comments on proposed rules that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court.
Flood Insurance Legislation Offers Flexibility for Consumers
The National Association of Realtors applauded the passage of H.R. 2901, the Flood Insurance Market Parity and Modernization Act, saying it goes a long way to alleviating concerns for property owners who opt to purchase flood insurance in the private market. Under the current rules, owners who returned to the National Flood Insurance Program risked paying higher fees.
Active Military Homebuyers Purchase at Younger Ages, Buy Larger and More Expensive Homes
Differences in household demographics and affordable financing options spur homebuying demand for young active-service military members, causing them to significantly outpace the share of non-military homebuyers under the age of 35, according to the first-ever 2016 Veterans & Active Military Home Buyers and Sellers Profile.
Industry Welcomes News of Proposed TRID Adjustments
The Consumer Financial Protection Bureau’s announcement that it was planning a Notice of Proposed Rulemaking (NPRM) in July to make needed adjustments to the TILA RESPA Integrated Disclosures Rule was well received by industry organizations that have been calling for clarification.
3 Top Tips for Effective Online Farming
Loan Application Defect and Fraud Risk Emerging in Southern States
The First American Loan Application Defect Index, which estimates the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications, increased 1.3 percent in March as compared with February and decreased by 2.6 percent as compared with March 2015. The Defect Index, which reflects estimated mortgage loan defect rates over time, by geography and by loan type, is down 25.5 percent from the high point of risk in October 2013.
Pending Home Sales Maintain Momentum in March
Pending home sales increased slightly in March for the second consecutive month and reached their highest level in almost a year, according to the National Association of Realtors. Only the West region saw a decline in contract activity last month.
Consumer Inflation Expectations Decline
The March 2016 Survey of Consumer Expectations (SCE) results, recently released by the Federal Reserve Bank of New York, indicate a decline in median inflation expectations at both the one-year and the three-year ahead horizons.
Likelihood of Climate Change Flood Impact Must be Addressed
Freddie Mac released today its monthly Insight for April with a focus on the flood challenges the industry faces, the current system in the United States for dealing with flood risk, and some questions that will have to be addressed if climate change raises sea levels significantly.
ALTA Posts 2015 Year-end Market Share Executive Summary
Title insurance industry net income was almost the same in 2015 as in 2014, although title insurance premiums written were up 15.8 percent from the prior year and total operating Income was up 11.8 percent, according to ALTA's Title Insurance Industry Market Share, Statistical Analysis and Financial Statement compilations for 2015.
Why Email Marketing Must Be a Priority for Real Estate Agents
Email is easily the most ubiquitous digital communication technology. Ninety-five percent of online consumers have at least one email address and most check their email every day. If you are not incorporating this valuable tool into your real estate marketing, you are missing out on valuable leads. Here are a few items that make email so important and ways you can leverage it for marketing success.
Existing-Home Sales Spring Ahead in March
Bolstered by big gains in the Northeast and Midwest, existing-home sales bounced back in March and remained slightly up from a year ago, according to the National Association of Realtors.
Why to List, and 13 Ways to Generate More Listings
You’ve heard it said that you must list to last. While that’s not entirely true, having a great listing business and strategy can give you an unfair competitive advantage in any market. Here are several areas you can focus on to generate more listing inventory.
Instagram Is Ch-Ch-Changing! Here's What You Need to Know
Big changes are coming for Instagram users and the news alone has sent ripples throughout the world of social media. Acquired by Facebook in April of 2012, it's not totally surprising that Instagram's feed will soon begin to work like Mark Zuckerberg's original tour de force.
Builder Confidence Holds Firm in April
Builder confidence in the market for newly-built single-family homes remained unchanged in April at a level of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
Five Ways Your Team Can Break through a Plateau
It was Einstein’s definition of insanity that stated, “You can’t keep doing the same thing over and over and over the same way and expect a different result.” If a business does not continue to grow it risks being sidelined and left behind as the market around it changes. So, it’s time to shake things up, tweak your plan and watch the outcome change.
Federal Reserve Reports Moderate Expansion Continues
Reports from the 12 Federal Reserve Districts suggest that national economic activity continued to expand in late February and March, though the pace of growth varied across districts. Construction and real estate activity generally expanded in late February and March, and contacts across districts maintained a positive outlook for the rest of the year.
Independent Mortgage Banker Profits Up in 2015, Driven by Higher Volume, Larger Loan Balances
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,189 on each loan they originated in 2015, up from $747 per loan in 2014, the Mortgage Bankers Association reported today in its Annual Mortgage Bankers Performance Report.
Mortgage Credit Availability Decreases Slightly
Mortgage credit availability slightly decreased in March according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association which analyzes data from Ellie Mae's AllRegs Market Clarity business information tool.
Commercial/Multifamily Originations Rise to Near-Record $504B in 2015
Commercial and multifamily mortgage bankers closed $503.8 billion of loans in 2015 according to the Mortgage Bankers Association's 2015 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
HUD Makes $174M Available through New Housing Trust Fund
The U.S. Department of Housing and Urban Development announced that nearly $174 million will soon be made available through first-ever allocations of the National Housing Trust Fund. The fund is a new affordable housing production program.
Vacation Home Sales Retreat, Investment Sales Leap in 2015
Vacation home sales cooled off in 2015 but remained at the second highest amount in nearly a decade, while investment purchases increased for the first time in five years, according to an annual survey of residential homebuyers released April 6 by the National Association of Realtors.
Bridging the Gap between Relationships and Technology
Brian Buffini challenges agents to take a hard look at the source of their closed transactions and invest more time and money in 2016 on what’s making the biggest impact. "Too often I see agents get caught up in the latest technology trap, neglecting the fundamental, unsexy habits that are crucial to sustainable success," he said.
Retail, Construction, Healthcare Feed 215,000 Jobs Increase in March
Total nonfarm payroll employment rose by 215,000 in March, and the unemployment rate was little changed at 5.0 percent, the U.S. Bureau of Labor Statistics reported. Employment increased in retail trade, construction, and health care. Job losses occurred in manufacturing and mining.
How to Be the CEO of Your Business and Life
If you’re like many real estate agents, you may spend the day putting out fires instead of tackling the tasks on your to-do list. Instead of feeling productive, you feel frustrated, overwhelmed and uninspired. Great CEOs run their day; they don’t let their day run them. Want to be the CEO of your business and life? Here’s how to make it happen.
Survey Gauges Early Consumer Reaction to New TRID Rules
Consumers are finding it more difficult to get a mortgage since TRID took effect but are finding the forms easier to understand than the old GFE, according to recently released ClosingCorp findings from a new national consumer survey of repeat homebuyers that provides insight into how the new TRID rule is impacting the customer experience.
'Come in and Shut the Door:' Communication Breach in the Workplace Revealed
In the workplace, “come in and shut the door” usually precedes a tough conversation and is a phrase known to strike terror in the hearts of employees. But the manager on the other side of the desk is likely feeling just as apprehensive about delivering the news, according to a recent survey by Harris Poll on behalf of communications consultancy Interact.
Pending Home Sales Post Healthy Gains in February
Pending home sales rose solidly in February to their highest level in seven months and remain higher than a year ago, according to the National Association of Realtors. Led by a sizeable increase in the Midwest, all major regions except for the Northeast saw an increase in contract activity in February.
How User Behaviors Are Changing SEO Forever
With constant changes and updates to search algorithms and SEO best practices, it can be tough for real estate agents to ensure their websites are optimal for both search engine visibility and users searching for their next home. How can agents keep up with the newest trends? Below are three areas where agents should interact and invest.
MBA Creates the Task Force for a Future Secondary Mortgage Market
The Mortgage Bankers Association has created the Task Force for a Future Secondary Mortgage Market, with the objective of developing a proposal that will address the future of the Secondary Mortgage Market, and in particular, an end-state model that can also fulfill an affordable housing/duty to serve mission.
Fewer Lenders Report Easing of Credit Standards
Fannie Mae’s first quarter 2016 Mortgage Lender Sentiment Survey, conducted in February, shows that the share of mortgage lenders reporting easing credit standards over the prior three months fell for the second straight quarter. Also, the share of lenders who expect to ease credit standards over the following three months fell from last quarter for all mortgage types.
New Home Sales Rise 2 Percent in February
Sales of newly built, single-family homes rose 2 percent in February from an upwardly revised January reading to a seasonally adjusted annual rate of 512,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Home Builders Urge Congress to Pursue Regulatory Reform to Ease Housing Affordability
Citing an acute shortage of affordable rental housing and severe regulatory burdens that drive up the cost of single- and multifamily housing for home builders and consumers alike, the National Association of Home Builders called on Congress to pursue regulatory reforms that will help improve affordability and promote new development.
Wells Fargo tops MBA’s 2015 Rankings of Commercial/Multifamily Mortgage Firms’ Origination Volumes
According to a set of commercial/multifamily real estate finance league tables prepared by the Mortgage Bankers Association (MBA), Wells Fargo; Eastdil Secured; JP Morgan Chase & Company; HFF, L.P.; Meridian Capital Group, LLC; Bank of America Merrill Lynch; CBRE Capital Markets, Inc.; PNC Real Estate; Key Bank; and Capital One Financial Corp. were the top commercial/multifamily mortgage originators in 2015.
Sales Tumble Amid Low Inventories, Winter Woes
Existing-home sales dropped 7 percent month-over-month in February as the number of homes for-sale continued to be severely limited and home prices accelerated, according to the latest housing report released by the National Association of Realtors. NAR also cited adverse weather and the stock market slump as contributors to the soft closings number.
Economic Growth Outlook Little Changed Despite Improving Financial Market Conditions
According to Fannie Mae, financial market conditions appear to be improving as 2016 progresses, but economic growth is expected to remain flat at 2.0 percent this year. However, positive indicators, including strengthening domestic consumer and business spending and a healthy labor market, should outweigh negative factors.
Single-Family Housing Starts Reach Highest Level since November 2007
Nationwide housing starts rose 5.2 percent to a seasonally adjusted annual rate of 1.178 million units in February, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.
FHA’s New Lender Certifications Welcomed by Industry, Consumer group
Industry organizations as well as consumer groups posted generally favorable comments in response to the Federal Housing Administration’s (FHA) updated lender and loan certification requirements issued this week.
4 Simple Life Hacks of Super Producers
Master your day and you’ll master your life. That’s the simple secret of "Super Producers," says two-time, best-selling author and real estate professional Michael Maher. While Super Producers might look superhuman to the average salesperson, they’re not. “All that these incredibly successful people have done is learned the ‘life hacks,’ or shortcuts that make life easier, to be more productive.”
Commercial/Multifamily Mortgage Debt Outstanding Grew at a Strong Pace in 2015
The level of commercial/multifamily mortgage debt outstanding increased to $2.83 trillion in the fourth quarter of 2015, an increase of $59.7 billion, or 2.2 percent, over the third quarter, according to data collected by the Mortgage Bankers Association.
Mortgage Applications for New Home Purchases Increased 24% in February
The Mortgage Bankers Association Builder Application Survey data for February 2016 shows mortgage applications for new home purchases increased by 24 percent relative to the previous month.
How Can Real Estate Agents Maintain Client Relationships After the Sale?
Being a successful real estate agent requires a constant two-pronged approach: marketing yourself to bring in new leads and maintaining relationships with past clients. While many real estate agents double down on the former by spending an arm and a leg on a state-of-the-art website, mobile apps and even old-school newspaper ads, the truth is that you could be betting on the wrong horse.
NAR: Millennials Moving to the ‘Burbs
A growing share of homebuyers are millennials, and more of them are purchasing single-family homes outside of urban areas, according to the 2016 National Association of Realtors Home Buyer and Seller Generational Trends study, which evaluates the generational differences of recent home buyers and sellers.
CoreLogic Reports National Foreclosure Inventory Down 21.7 Percent from January 2015
CoreLogic released its January 2016 National Foreclosure Report which shows the foreclosure inventory declined by 21.7 percent and completed foreclosures declined by 16.2 percent compared with January 2015.
Economy Adds 242,000 in February
Total nonfarm payroll employment increased by 242,000 in February, and the unemployment rate was unchanged at 4.9 percent, the U.S. Bureau of Labor Statistics reported Friday. Construction employment continued to trend up in February (+19,000), with a gain of 14,000 in residential specialty trade contractors. Employment in construction was up by 253,000 over the past 12 months.
Information Central: How Brokers Can Solve Agent Content Needs Once and for All
Finally, we’re all on the same page about what matters most to today’s real estate consumers: relevant, consistent and timely information. In today’s Google-it-get-it world, it’s become paramount for agents to step up their content game to stand out as a credible source of the real estate information buyers and sellers need…and more importantly, expect.
Federal Reserve: Economic Growth Continues to Expand
Reports from the 12 Federal Reserve Districts continued to indicate that economic activity expanded in most districts since the previous Beige Book report. Residential sales, construction and loan demand increased moderately in most districts, and labor markets strengthened. Across the nation, business contacts were generally optimistic about future economic growth.
Four Twitter Mistakes That Are Holding You Back
Because of its ability to connect you with more influencers than any other social network, Twitter is a platform you should be focusing on. According to Chris Smith in a recent Watercooler episode, Twitter is a “bigger pond,” but not as many people are fishing in it. What this means for you is more untapped potential.
Pending Home Sales Cool Down in January
Following the highest average year for the index in nearly a decade, pending home sales declined to begin 2016 but remained slightly higher than a year ago, according to the National Association of Realtors. Only the South saw an uptick in contract activity in January.
Technology Helps, but Master the Basics First
While technology may help you become more organized and productive, it’s useless if you don’t have the basics down first. With that said, here are three basic marketing principles to master and tech solutions to help you go deeper with each.
What You Should Know about Foreign Clients and FIRPTA
The United States continues to be a desirable location to own real estate for people from all corners of the globe. With the increase in foreign buyers and sellers, it is important to understand what might be the impact on your clients of the recent changes in Foreign Investment in Real Property Tax Act of 1980, otherwise known as FIRPTA.
Cybercrime Hitting Real Estate
Online criminals are targeting the real estate industry and stealing large sums of money from unwary homebuyers. This fraud can destroy real estate transactions, so the National Association of REALTORS is urging real estate professionals across the country to immediately implement safety measures to reduce the risk of becoming a victim.
Blogging for Your Real Estate Business Can Be a True Advantage
Most real estate agents today are realizing that having a web presence is a must if they want to be successful. The reality is, anyone looking to buy a home is going online first. If you want to appeal to a wide audience, you have to be online. One of the keys to an online presence is blogging.
Affordability Edges Up in Fourth Quarter
Modest home price and interest rate decreases resulted in a slight increase in nationwide housing affordability in the fourth quarter of 2015, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released today.
Existing Home Sales Inch Forward in January, Price Growth Accelerates
Existing-home sales crept forward in January to the highest annual rate in six months, and subpar supply levels propelled price growth to the fastest increase since last April, according to the National Association of Realtors. The West was the only region to see a decline in sales in January.
MBA Reports Foreclosure Starts Lowest Since 2003
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.77 percent of all loans outstanding at the end of the fourth quarter of 2015. This was the lowest level since the third quarter of 2006. The rate at which new foreclosures were started decreased to 0.36 percent, the lowest rate since 2003.
CFPB Finalizes Policy to Facilitate Consumer-Friendly Innovation
The Consumer Financial Protection Bureau has finalized a policy to facilitate consumer access to innovative financial products and services. The new policy establishes a process for companies to apply for a statement from CFPB staff that would reduce regulatory uncertainty for a new product or service that offers the potential for significant consumer-friendly innovation.
Consumer Spending, Healthy Labor Market Could Offset Financial Market Turmoil
Despite a forecasted pickup in consumer spending, a relatively healthy labor market, and strengthening residential investment and government spending, economic growth appears to be hindered by deteriorating financial conditions and increasing global concerns.
Freddie Mac Expects Multifamily Market to Remain Strong in 2016
Steady economic growth and key drivers will keep the multifamily market moving forward in 2016, according to Freddie Mac’s Multifamily Outlook, released Feb. 10.
Applications for New Home Purchases up 14% in January
The Mortgage Bankers Association Builder Application Survey (BAS) data for January 2016 shows mortgage applications for new home purchases increased by 14 percent relative to the previous month.
Moderate Commercial Expansion, Easing Prices Expected in 2016
Despite various global and domestic hurdles hindering economic growth, steady job gains and stable leasing demand should help keep commercial real estate activity expanding in 2016, according to the authors of an annual report published jointly by Situs Real Estate Research Corporation, Deloitte and the National Association of Realtors.
Homeowner expectation of value nearing appraiser valuation
Quicken Loans said average home appraisal values in January were 1.75 percent lower than what homeowners were anticipating, according to the company’s Home Price Perception Index. This continues the trend of nearing equilibrium between expectations and actual appraisal values.
Metro Home Prices Accelerate in the Q4 2015
A moderating pace of sales had little impact on the trajectory of home prices during the final three months of the year, which picked up speed and showed continued growth in most of the U.S., according to the latest quarterly report by the National Association of Realtors.
Mortgage Credit Availability Decreased in January
Mortgage credit availability decreased in January, according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association. The MCAI decreased 0.4 percent to 123.8 in January.
Fannie Mae: Fewer Households Report Income Growth
Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased 1.7 points to 81.5 in January, with housing affordability constraints reflected in the downward movement of two of the HPSI components.
Millennials to Shape Housing Preferences Once They Start Buying
The millennial generation is poised to make a significant impact on home design with their strong preferences for energy efficiency and smart home technology; comfortable, workable kitchens; and more casual spaces, said representatives from the National Association of Home Builders and Better Homes and Gardens at a recent press conference.
Make 2016 the Year You Sell More Real Estate
Regardless of how your 2015 went, in 2016, you want your business to increase even more. A savvy real estate agent won’t rest on the success of a previous year or give up hope just because of a down year. There is plenty one can do to increase business and sell more real estate in the year ahead.
FHA to Cut Insurance Rates on Multifamily Mortgages
In an effort to help preserve and increase the amount of affordable, quality rental housing across the country, the Federal Housing Administration announced a multifamily insurance rate reduction designed to encourage capital financing of affordable and energy-efficient apartments.
Underwater Properties at 6M+, Down 50% from 2012 Peak
RealtyTrac released its Year-End 2015 U.S. Home Equity & Underwater Report, which shows that as of the end of 2015, there were 6.4 million U.S. properties seriously underwater representing 11.5 percent of all properties with a mortgage. This is down from 12.7 percent of all properties with a mortgage at the end of the third quarter of 2015 and down 50 percent from the Q2 2012 peak of 28.6 percent of all properties with a mortgage.
Pending Home Sales Tick Up in December
Pending home sales were mostly unchanged in December, but inched forward slightly, fueled by a large increase in the Northeast that outpaced declines in the other three major regions, according to the National Association of Realtors.
New Breed of House Hunter Commands Pet Perks, Parks and More
Pets have found their way into the hearts — and homes — of over 125 million households across the country. Now, more than ever before, pets are warranting consideration beyond that of their owners. On the house hunt, pets are playing a foremost role in the homebuying and renting decisions their owners make.
Learn How to Establish an Unbeatable Value Proposition
Whether you are a seasoned veteran of the industry or new to real estate, it’s always wise to evaluate your value proposition because the market is ever changing. You need to change with it to keep relevant.
AICPA Reports Substantial Increase in Financial Satisfaction
Spurred by significant reductions in inflation and loan delinquencies, the 2015 fourth quarter Personal Financial Satisfaction Index released by the American Institute of CPAs shows that Americans personal financial satisfaction has increased substantially from a year ago.
Existing-Home Sales Surge Back in December
Existing-home sales snapped back solidly in December as more buyers reached the market before the end of the year, and the delayed closings resulting from the rollout of the Know Before You Owe initiative pushed a portion of November's would-be transactions into last month's figure, according to the NAR.
2015 Tax Extenders Set to Have a Positive Impact on the Real Estate Industry
Each December, close to 50 tax extenders — aptly-named extensions of tax breaks — come into play in Congress. Included in those that were passed in 2015 are several that stand to have a positive impact on those looking to enter the housing market this year.
Real Estate Agents Get New Resource From Freddie Mac
Freddie Mac has launched an online Real Estate Professionals Resource Center, a comprehensive resource designed to keep real estate agents, brokers, housing counselors and other practitioners on top of the latest affordable mortgage products, training and networking opportunities, and customizable promotion tools from Freddie Mac.
Most Construction Loans Are Covered by TRID, CFPB Advises
Most construction loans that are closed-end consumer credit transactions secured by real property are covered by the Know Before You Owe mortgage disclosures, according to the Consumer Financial Protection Bureau (CFPB), which released an advisory on the subject last week. A construction loan that is an open-end transaction or a loan for a commercial purpose is not covered, the bureau said.
Freddie Mac Is Top Multifamily Lender
Freddie Mac announced that it has become the nation's leader in multifamily lending for the first time, with $47.3 billion in loan purchase and bond guarantee volume for its multifamily business in 2015, up from $28.3 billion the previous year.
Bradshaw Testifies in Support of HR 2901 Flood Insurance Bill
Steven Bradshaw, Executive Vice President of Standard Mortgage Corporation, testified on behalf of MBA Jan. 13 before the House Financial Services Subcommittee on Housing and Insurance in support of H.R. 2901. Bradshaw lauded the bill for providing a new pathway to encourage the growth of a competitive private flood insurance market, increase private sector involvement, expand available insurance options, lower costs for consumers and reduce taxpayer exposure to flood losses.
ALTA Makes Recommendations to FinCEN to Clarify GTO
In a letter to the Financial Crimes Enforcement Network on Jan. 13, the American Land Title Association asked the agency to clarify recent a Geographic Targeting Order that imposes additional recordkeeping and reporting requirements designed to deter money laundering in New York City and Miami.
FinCEN Requires Title Companies to Identify High–End Cash Buyers in Targeted Areas
The Financial Crimes Enforcement Network has issued orders that will temporarily require certain title insurance companies to identify the natural persons behind companies used to pay “all cash” for high-end residential real estate in the Borough of Manhattan in New York City, New York, and Miami-Dade County, Florida.
Broker Strategies: Leading With Faith, Skill and Purpose
Good instincts and business savvy are reliable achievement indicators. Add great leadership skills, unshakeable faith, and a commitment to work-life balance, and the recipe for success is complete. Meet Tom Tognoli, co-founder, president and CEO of Intero Real Estate Services that in the 12 years since its launch, has become the regional market leader.
Top Must-Have Apps for Real Estate Pros in 2016
As 2016 begins, so do many plans and resolutions. This year, whether your resolutions revolve around your business, yourself or something else, there are a number of tools that can help you achieve your goals.
Commercial and Multifamily Lenders Expect Strong 2016
Commercial and multifamily mortgage lending is expected to increase in 2016, as lenders' and borrowers' appetites for new loans remain strong, according to a new Mortgage Bankers Association survey of the top commercial and multifamily mortgage origination firms.
Economy Adds 292,000 Jobs in December
Total nonfarm payroll employment rose by 292,000 in December, and the unemployment rate was unchanged at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment gains occurred in several industries, including construction, which showed strong job growth for the third consecutive month, gaining 45,000 jobs in December
HPSI Closes Year on Positive Note Driven by Reported Income Growth
Fannie Mae’s Home Purchase Sentiment Index increased 2.4 points to 83.2 in December, capping off its strongest year thus far, as Americans’ household income prospects bounced back to levels of three months ago.
Start the New Year Strong with These Five Must-Do Tasks
Whether it’s meeting with a new client, creating a social content calendar or drafting paperwork to finalize a transaction, real estate agents are constantly on the move. With so much to do, it can be difficult figuring out where to start. There will always be a long list of tasks you should complete, but prioritizing the crucial ones can help you get organized and start the year off strong.
Pending Home Sales Decline Modestly in November
Pending home sales in November slightly declined for the third time in four months as buyers continue to battle both rising home prices and limited homes available for sale, according to the National Association of Realtors.
CFPB Responds to MBA’s Request for TRID Clarifications to Allay Investor Concerns
The Consumer Financial Protection Bureau, responding to a request from the Mortgage Bankers Association to address investor liability concerns, advised that the risk of private liability to investors is negligible during the early days of the mortgage disclosure implementation period, citing existing provisions already in place to mitigate issues during this “corrective and diagnostic” period.
2015 Business Trends You Should Adopt to Ensure a Successful 2016
This has been a crazy year full of excitement, change and opportunity for the real estate industry. The new year promises to provide more of the same; I want to dedicate some time to this year’s highlights and how you can leverage them in 2016.
Eight Gadgets to Add to Your Real Estate Wish List
As the year closes, it’s time to look back and think about everything that’s happened in 2015. Technology is even more necessary, wearables are more popular and smart phones are getting smarter. We’ve reached the golden age of gadgets, and it’s time to begin planning for what will come in 2016. We’ve made a list with the top gadgets to add to your holiday wish list to help drive your business forward in 2016.
Q3 2015: Foreclosure Prevention Actions Approaching 3.6 Million
The Federal Housing Finance Agency recently reported that Fannie Mae and Freddie Mac completed 54,744 foreclosure prevention actions in the third quarter of 2015, bringing the total number of foreclosure prevention actions to just under 3.6 million since the start of the conservatorships in September 2008.
TransUnion's 2016 Forecast Expects Consumer Credit Markets to Complete Recovery
TransUnion’s 2016 mortgage and credit card forecasts predict that the consumer lending market will have fully recovered by the end of next year from both the mortgage crisis and the ensuing Great Recession that concluded more than six years ago.
Single-Family Starts Reach Seven-Year High in November
Nationwide housing starts rose 10.5 percent to a seasonally adjusted annual rate of 1.173 million units in November, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Single-family production increased 7.6 percent to a seasonally adjusted annual rate of 768,000 units, its highest reading since January 2008.
November Existing-Home Sales Drop Off Blamed on Slower Closing Timeframes
Existing-home sales dropped off considerably in November to the slowest pace in 19 months, but some of the decrease was likely because of an apparent rise in closing timeframes that may have pushed some transactions into December, according to the National Association of Realtors. All four major regions saw sales declines in November.
Further Easing of Mortgage Credit Standards on the Horizon, According to Lenders
Mortgage lenders continue to report that they have eased and expect to continue easing their credit standards, according to Fannie Mae's fourth quarter 2015 Mortgage Lender Sentiment Survey.
NAR: Desire to Buy Strong despite Affordability and Economic Concerns
Although only half of surveyed households believe the economy is currently improving, nearly all young renters eventually want to buy a home, and a convincing majority still view homeownership as part of their American Dream, according to a new quarterly consumer survey released today by the National Association of Realtors
Eight Ways to Deliver a Higher Level of Service
Brokers and agents are famous for creating catchy slogans about their quality service; however, they quickly become empty statements without a specific plan. So, how do we actually deliver a higher level of service that exceeds client expectations?
Freddie Mac, ABA Renew Alliance to Help Banks Compete in Mortgage Market
Freddie Mac and the American Bankers Association, through its Corporation for American Banking subsidiary, have renewed their Freddie Mac alliance to provide ABA members with endorsed solutions which provide benefits to assist in their mortgage lending business.
Five Ways to Get More Out of Your Pop-Bys
Who doesn’t love a small token of appreciation? Pop-Bys are small gifts you give to your clients to express gratitude for their business and referrals. They’re a fun surprise and offer an excuse to get in front of your clients. Make your Pop-Bys stand out with the following tips.
2016 Housing Forecast: New Construction to Drive Highest Home Sales since 2006
New home construction and moderate gains in the existing home market will deliver the necessary one-two punch to push total home sales to the highest levels since 2006, according to the 2016 housing forecast issued this week by realtor.com. The forecast also identifies the top 10 markets for growth, as well as expectations for home prices and sales, interest rates and new home sales and starts.
Applications for New Home Purchases Decrease in November, but Remain at Healthy Levels
The Mortgage Bankers Association Builder Application Survey data for November 2015 shows mortgage applications for new home purchases decreased by 6 percent relative to the previous month, but remain at highly elevated levels compared to a year ago.
Email Marketing Tactics to Bring Your Dead Leads Back to Life
As a busy real estate agent, it’s likely you don’t have time to sculpt the perfect email marketing strategy for each new lead, prospect and client you have in your database. However, this doesn’t have to be the case. A drip email campaign is an easy way to keep in contact with everyone on your list. While these campaigns may seem complicated, there are a number of easy tactics that, if implemented correctly, can ensure a successful drip email strategy.
Raising Appraisal Limits Could Hurt Consumers
More than 80 percent of bank appraisers think reducing the number of loans requiring an appraisal could increase risk to borrowers, according to a survey of its professionals released today by the nation’s largest professional association of real estate appraisers.
Tom Ferry's Top Tactics for a More Profitable 2016
If you’re in the real estate game, you always want to do better than the previous year. Now, you can increase your business in 2016 by following some savvy planning tips from master trainer and coach Tom Ferry.
Trade Associations call for Homebuyers Assistance Act Inclusion in House Spending Bill
Title insurance, real estate and lender associations have banded together to encourage the U.S. House of Representatives to include the Homebuyers Assistance Act (H.R. 3192) in the year-end spending bill.
Fed reports economic activity continues to increase at modest pace
The 12 Federal Reserve District reports indicate that economic activity increased at a modest pace in most regions of the country since the previous Beige Book report. The districts reported increases in consumer spending, residential construction and loan demand.
Pending Home Sales Nudge Forward in October
Pending home sales were mostly unchanged in October, but shifted marginally higher after two straight months of declines, according to the National Association of Realtors. Gains in the Northeast and West were offset by declines in the Midwest and South.
U.S Credit Report Card: National Credit Score Up, Lending Increasing, Late Payments Down
Key findings released this week from Experian’s sixth annual State of Credit study, which provides national insights, ranks top and bottom cities, and introduces a new element, of political preference of ranked cities, show that the national credit score increased by three points over the last year and by five points since 2013.
Brokers Ready for Long-awaited Interest Rate Increases
After years of speculation about interest rates, it appears the Federal Reserve is finally poised to raise them in December. The move – which sets the cost of borrowing for banks and, consequently, the price of mortgages for homebuyers – has been one that brokers across the nation have been bracing for ever since the rates were lowered to near-zero levels during the financial crisis.
Moderate Expansion, Easing Prices Expected for Commercial Real Estate Markets
Sustained job growth throughout the country and improving credit conditions a