Bloomberg, Mar. 4, 2023–Alexis Leondis“Marry the house, date the rate.” That’s the advice realtors and mortgage lenders are giving worried homebuyers as mortgage rates reapproach the two-decade high of 7% …
Category: Top National News
Last Year’s Homebuyers Watch for Fleeting Chance to Refinance
Yahoo!Finance, Mar. 5, 2023–Gabriella Cruz-MartinezThe latest chance may have passed Dycus by. The average rate on the 30-year fixed mortgage increased to 6.65% this week, according to Freddie Mac, climbing …
Title Revenue Declines by 19% in 2022
HousingWire, Mar. 3, 2023–Brooklee HanTitle industry revenue dropped 19% year over year in 2022, according to data released Thursday by Fitch Ratings. This 19% decline is on a GAAP basis …
FHA May Loosen its Branch Registration Requirements
National Mortgage News, Mar. 3, 2023–Bonnie Sinnock (subscription)The Federal Housing Administration is proposing to scale back the office registration requirement for the mortgage companies making the loans it insures.https://www.nationalmortgagenews.com/news/fha-may-loosen-its-branch-registration-requirements
Redfin: 53% Fewer Affordable Homes For Sale In 2022
National Mortgage Professional, Mar. 3, 2023–David KrechevskyRoughly one in five (21%) U.S. homes for sale in 2022 was affordable for the typical household, down from two in five (40%) and …
Amazon Says It is Pausing Construction on HQ2 in Arlington
Washington Post, Mar. 3, 2023–Teo Armus, Rachel LermanAmazon will pause construction at the second headquarters it is building in Arlington, the company confirmed Friday, a major setback for the e-commerce …
Rocket Has a Plan to Drastically Cut Costs. Does It Go Far Enough?
HousingWire, March 3, 2023–Flávia Furlan NunesExecutives at Rocket Companies are engaged in a very tricky balancing act: they must drastically reduce expenses to return the company to profitability. And at …
Sorry, Fed, Most U.S. Mortgage Rates Were Locked in During Pandemic Lows
Bloomberg, March 3, 2023–Ben Holland (subscription)More than 40% of all U.S. mortgages were originated in 2020 or 2021, when the pandemic drove borrowing costs to historic lows. That’s good news …
Amazon Says it is Pausing Construction at HQ2
Washington Post, March 3, 2023–Teo Armus, Rachel LermanAmazon will pause construction at the second headquarters it is building in Arlington, Va., the company confirmed Friday. The tech giant said it …
Fraud, Fraud, Everywhere Fraud
The Housing Scene (UExpress), Mar. 3, 2023–Lew SichelmanWhile late-night TV scams and robocall schemes are coming under increased scrutiny by state and federal officials, new real estate-related swindles continue to …