Michael McFadden from OptiFunder discusses recent advances in Artificial Intelligence.
Category: News and Trends
MBA Launches Upgraded CONVERGENCE Site
The Mortgage Bankers Association announced a revamped version of the CONVERGENCE section of its website, aiming to benefit its members and a broader audience.
Investor Home Purchases Down Record 49% Year-Over-Year, Redfin Finds
Redfin, Seattle, reported real estate investors purchased nearly 49% fewer homes year-over-year in the first quarter, the largest annual decline on record.
Construction Spending Climbs Slightly
Construction spending rose 1.2% during April, the Census Bureau reported Thursday.
Quote: June 5, 2023
“Job growth was stronger than anticipated in May, with growth averaging 341,000 per month over the last 12 months, adding to the momentum thus far in 2023. This includes upward revisions to already strong job growth in March and April.”
–Mike Fratantoni, Chief Economist of the Mortgage Bankers Association.
Ksenia Potapov from First American: First-Time Home Buyer Affordability Outlook Mixed, but Affordable Markets Remain
The affordability outlook is mixed, but there are markets that remain affordable for the potential first-time home buyer, like Buffalo, Pittsburgh and Detroit, despite the turbulence of today’s housing market.
MISMO Launches New Version 3.6 of the Reference Model
MISMO®, the real estate finance industry’s standards organization, today announced that Version 3.6 of the MISMO Reference Model has reached “Candidate Recommendation” status, meaning that it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry.
Ron Vaimberg on Relationship-Building
MBA NewsLink interviewed sales trainer Ron Vaimberg about the relationship between a loan officer and other real estate professionals.
Zillow: 82% of Adults Support Building More Housing in Neighborhoods to Address Affordability
Zillow, Seattle, found 82% of adults support building at least one type of multifamily housing in their neighborhood to address problems with home affordability.
MBA Weekly Survey May 31, 2023: Mortgage Applications Decrease
Mortgage applications fell again last week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending May 26.