With inflation gradually easing and builders anticipating mortgage rates will moderate, builder sentiment moved higher for a second consecutive month, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Category: News and Trends
Provident Bank: First-Time Buyers Finding Homes in Under a Year
Provident Bank, Iselin, N.J., recently released the results of its First-Time Home Buyer Survey, finding, despite challenges in the market, first-time buyers are largely finding homes in less than a year.
Altus Group: Commercial Real Estate Industry Expectations Mixed, but Show Signs of Optimism
Altus Group, Toronto, released its Q3 Commercial Real Estate Industry Conditions and Sentiment Survey, finding that the number of respondents who cited “deploying capital” as a primary focus over the next 6 months grew to 31%.
Home Sellers’ Profit Margins Dip, ATTOM Finds
The ATTOM third-quarter 2024 U.S. Home Sales Report showed that sellers’ profits dipped by one percentage point from the second quarter of 2024 and two points from a year ago.
September New Home Purchase Mortgage Applications Increased 10.8%
The Mortgage Bankers Association Builder Application Survey (BAS) data for September 2024 shows mortgage applications for new home purchases increased 10.8% compared to a year ago.
Quote of the Day
“Applications for new home purchases declined in September, consistent with seasonal patterns, and continued to run ahead of last year’s pace.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist
FundingShield: Fraud Risk Report Shows Slight Drop
FundingShield, Newport Beach, Calif., found that during the third quarter, 46.43% of transactions on an $82 billion portfolio of residential, commercial and business purpose loans had issues leading to a risk of wire and title fraud.
ValuePenguin: Winter Weather Property Damage Already at $61.8M in 2024
As we head into the winter months in much of the United States, ValuePenguin, a division of LendingTree, Charlotte, N.C., put out a report on winter weather damage. So far, winter weather has caused an estimated $61.8 million in property damage in 2024.
ICE’s Damien Weldon and John Holbrook: New Federal Guidelines for AVMs Elevate Bias Testing, Give Consumers a Stronger Voice
In today’s environment, it’s important to have a transparent, objective and credible valuation process to establish a value for a property that all parties can agree on–but also a way to challenge and test those value assessments when warranted.
Vaultedge CEO Murali Tirupati–Fed’s Rate Cuts Signal Growth: Positive Outlook for Mortgage Lending in 2025
The Federal Reserve’s recent decision to reduce rates by 50 basis points, with further cuts expected through 2025, offers a key turning point for the mortgage industry.