Fewer Homes Being Flipped, But Profits Are Up
One out of every 15 home sales in the second quarter of the year were defined as “flips” by ATTOM Data Solutions. A flip is any arms-length transaction that occurred in the quarter where a previous arms-length transaction on the same property had occurred within the last 12 months. ATTOM’s second quarter report on flipping […]
Construction Slows after Three Busy Months; Rates Vary Widely–Nothing To Do With Fed
Residential construction activity took a breather in August. The U.S. Census Bureau and the Department of Housing and Urban Development reported this morning that all three measures, housing permits, starts, and completions, were lower than their unexpectedly high July rates. Permits for residential construction were issued during the month at a seasonally adjusted annual rate […]
Landlord Statistics from the 2018 Rental Housing Finance Survey
Understanding the profile of landlords is important because any policy pertaining to renters also impacts landlords and their ability to provide rental housing supply. www.nar.realtor – Research
Housing Affordability Drops Modestly in July 2020 as Median Family Prices Reach All Time High
At the national level, housing affordability showed signs of improvement in July 2020 compared to a year ago but dipped compared to June. www.nar.realtor – Research
New Claims for State Unemployment Benefits Increased Last Week
Unadjusted new jobless claims totaled 857,148 in the week ending September 5, an increase of 20,140 (2.4%) from the previous week. www.nar.realtor – Research
Consumers Care About the Environment
American property owners and communities are more concerned about the environment than ever before, and consumer inclinations for walkable communities and energy-efficient homes are on the rise. www.nar.realtor – Real Estate Story Ideas
Manhattan rental market plunges, leaving 15,000 empty apartments in August
Hopes for a rebound in the fall or the end of 2020 look increasingly unlikely. Although rental prices have come down, the discounts are not steep enough yet to lure new renters back to the city….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to […]
CRM, Marketing, Fraud Products; Mortgage Apps Move Higher; LO Jobs
Posted To: Pipeline Press Tom Petty sang, “There’s somethin’ good comin,’ just over the hill, somethin’ good comin’, I know it will. And I’m in for the long run, wherever it goes, ridin’ the river, wherever it goes .” Lenders always walk a knife-edge between wanting good economic times for their customers, and having them […]
CFPB Goes After 6 VA Lenders for Shady Practices
The Consumer Financial Protection Bureau (CFPB) has been on a two-month enforcement tear aimed at mortgage lenders employing deceptive practices in the VA mortgage lending area. The Bureau has issued consent orders against six companies since late July in what it terms a “sweep” in response to concerns about potentially unlawful advertising in the market […]
Forbearances Decrease by 4%; CFPB Goes After VA Lenders; Strong Case For Locking a Rate
The number of homeowners with mortgages in COVID-19 related forbearance plans dropped during the week ended September 1 after several weeks when there was little change. Black Knight said its weekly survey found 147,000 fewer borrowers in plans than the previous week, a decline of about 4 percent. The company says last week’s decrease means […]