Many in the real estate industry lauded President Donald Trump’s victory in the 2024 presidential election as they anticipated his win would usher in a new wave of weaker antitrust scrutiny on an industry that had spent the past four years battling its fair share of antitrust suits. However, these hopes and dreams were put […]
Is the real estate industry getting its antitrust enforcement wish? Read More »
Pittsburgh and Cleveland rank as the world’s most affordable major housing markets, but a new report finds that not a single metro area among 95 studied actually qualifies as affordable. The annual Demographia International Housing Affordability report — released by Chapman University — measured affordability by dividing median home prices by median household incomes. Pittsburgh
Pittsburgh, Cleveland top global metro affordability list Read More »
From business practice changes, to a slowing housing market, to rapidly advancing technology, real estate agents have had to adapt quite a bit over the past few years. Still, homebuyers find them more important than ever. Data from Cotality shows that while more than 500,000 agents have entered the industry over the past decade, home
Homebuyers seek independent research, but still want a real estate agent Read More »
Federal Reserve Chair Jerome Powell’s speech on Friday at the Jackson Hole Economic Symposium left real estate and mortgage professionals cautiously optimistic. While expectations are building for lower interest rates, volatility remains a concern. In his final address as Fed chair at the Federal Reserve Bank of Kansas City’s annual conference, Powell signaled the possibility
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The U.S. Department of Agriculture (USDA) announced this week that it has awarded technology services firm Phoenixteam a $49 million contract to modernize its mortgage underwriting platform, the Guaranteed Underwriting System (GUS). The Arlington, V.A.-based company will overhaul GUS, which supports USDA’s guaranteed loan program for rural and farming communities. Phoenixteam said the updates will
USDA is automating its loan application uploading Read More »
We’ve reached fresh new year-to-date lows in mortgage rates after Jerome Powell, speaking at the Jackson Hole Economic Summit on Friday, suggested that the labor market may be more important than inflation for the time being. If only someone had been saying that for a few years! All jokes aside, mortgage rates have been trending
Mortgage rates hit year-to-date lows after Powell comments Read More »
Nearly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract during the month, according to a Redfin analysis of MLS data. That marks the highest July cancellation rate since the company began tracking the metric in 2017 — and up from 14.5% a year ago. Analysts point
Home purchase cancellations hit 8-year high Read More »
Heading into the week, Fed Chair Powell’s speech at the Fed’s annual Jackson Hole Symposium was only event on the calendar that held much promise for motivating any major movement in mortgage rates. Not only did it deliver on that promise, but it did so in everyone’s favorite direction. Powell didn’t pivot too much from
Lowest Rates of The Year (Barely) After Powell Speech Read More »
Glen Burnie Bancorp When Mark Hanna told his banker friends that the Maryland-based community bank he leads was planning to buy a mortgage lender, they “looked at me as if I had five eyes,” he recalled this week. The underwhelming reaction came as little surprise, said Hanna, who is the president and CEO of Glen
Maryland community bank bucks trend, pins hopes on mortgages Read More »
Federal Reserve Gov. Lisa Cook.Bloomberg News President Donald Trump said Friday morning that he would terminate Federal Reserve Gov. Lisa Cook from her post “if she doesn’t resign” over allegations that she claimed a secondary home was her primary residence in a 2021 mortgage application. “Yeah, I’ll fire her if she doesn’t resign, yeah,” Trump
Trump says he will fire Fed Gov. Cook ‘if she doesn’t resign’ Read More »