Renters Feel Bad About Their Finances, But It’s Cheaper Than Owning

By ERIN FLYNN JAY Compared to homeowners, renters feel bad about their finances, but in most of the country renting is the more affordable option right now. A recent Axios Vibes survey by The Harris Poll shows that homeowners are nearly twice as likely to say they are getting ahead financially when compared to renters. 57% of renters and 29% of homeowners described their financial situation as “poor.” According to Emily Peck, a markets correspondent at Axios, part of the problem is that the median asking rent in the U.S. is up 40% from the first quarter of 2020. With average hourly earnings rising only 20% during the same time period, wages did not keep up with costs. Homeowners were…

One-On-One: Guild Mortgage CMO Talks About Modern Marketing

The senior vice president and chief marketing officer at Guild Mortgage has a message for loan officers: You are your brand. Adam O’Daniel joined Guild Mortgage at the end of last year and has 15 years of experience in the mortgage and financial services industries. He has served in leadership roles at Open Mortgage and Movement Mortgage, where his high-performing marketing teams focused on brand storytelling, borrower education, social media, and innovation, according to a press release. Terry Schmidt, CEO of Guild Mortgage, said in a statement that they are growing and are ready to connect with clients in new and innovative ways. Headquartered in San Diego, the company has more than 4,000 employees and over 250 retail branches in…

Are You Ready To Fall In Love With A Home?

By KIMBERLEY HAAS This Valentine’s Day, if you are ready to get off the sidelines and into the housing market, you are likely not alone in your quest to find a place you love. Potential buyers are coming out of the woodwork and touring homes, according to Redfin’s Homebuyer Demand Index, which measures requests for tours and other buying services from Redfin agents. And although that hasn’t translated into home sales yet, they expect this increase in tours to convert into an improvement in pending sales over the next few months. Dana Anderson, a data journalist at Redfin, explained that more buyers are touring homes now because mortgage rates are holding steady at below 7% and some of these people…

Young Americans Are Settling In Their Hometowns

By CHUCK GREEN While many Millennials and some Gen Zers have flown the coop, a number of them don’t have to save up their frequent flyer miles to get back home. As it turns out, a hefty portion of both groups aren’t straying far. In a survey of nearly 2,000 U.S. Millennials and Gen Zers to determine how close they live to their parents and why, LendingTree found that the majority of them are choosing to lay down a welcome mat of their own in their hometown. 57% of Millennials and Gen Zers have settled in their hometowns. 42% of those who never uprooted felt it was incumbent upon them to remain close to family, while convenience compelled 36% to…

Bringing Families Together: Could ADUs Help Millennials Get The Housing They Need?

By ERIN FLYNN JAY and KIMBERLEY HAAS A recent report from Redfin shows that Baby Boomers with empty nests own double the amount of large homes compared to Millennials with kids. So what if Grandma and Grandpa moved into an accessory dwelling unit and the three generations lived together so everyone could have some space? According to the report, Millennials with kids own 14% of the nation’s large homes, which are defined as having three or more bedrooms. Baby Boomers living by themselves or with one other person own 28% of these properties. Partially to blame is affordability. 2023 was the least affordable year for homebuying on record, with median-priced homes costing about $410,000, according to Redfin. Additionally, 54% of…

Is Investing In Real Estate Or The Stock Market Better In 2024?

By CHUCK GREEN Where should you stow at least some of your hard-earned cash this year? Under the mattress? Hmm…. you might want to consult your financial advisor first. Of course, there are lots of options. Despite a landscape rife with unpredictability, perhaps real estate’s your cup of Java. Or maybe the stock market, for all its maddening ups and downs, floats your boat. The choice isn’t exactly as simple as deciding on one or two Splendas with your Latte, so The Mortgage Note set out to find out where experts expect to see the most returns in 2024. Taylor Kovar, CEO and founder of Kovar Wealth Management in Lufkin, Texas, doesn’t think people can go wrong investing in both. …

To Buy Or Not To Buy? Homeowners Offer Insights

By NICOLE MURRAY As more people consider jumping into the housing market this year, what do they need to know? The Mortgage Note set out to answer this question, talking to industry leaders and three people who recently purchased a home to get their opinions. Kevin Wu, who bought his first home in 2020, started looking at potential properties with his fiancé just as the real estate market started to transform. The couple looked at almost 15 houses and found their forever home when interest rates were 3.3% in a rather unique experience. “The home we bought was under contract with an approved offer but for whatever reason, they allowed us to look and even place an offer,” said Wu.…

Avoid The Doom And Gloom: How To Survive To 2025

By NICOLE MURRAY A number of real estate industry professionals experienced a painfully slow 2023 and it is predicted this trend will continue in 2024. With high interest rates and low inventory expected, people are encouraged to use this year to prepare for an explosive 2025. The Mortgage Note spoke with industry professionals to see what they expect and what tactics they plan on utilizing to be successful until the inevitable market boom everyone eagerly awaits. “2024 is going to be another stubborn year for originators,” says Jason Perkins, president of CRM company Bonzo. “We might get some relief with rates, but tight inventory and rising home prices will continue to be a burden for potential homebuyers for quite some…

The Mortgage Note Podcast: Moving Into 2024 With Motivation

It’s time to shake off 2023 and move into 2024 with a fresh perspective. Editor Kimberley Haas spoke with industry leaders who have tips for finding success in the new year and insights into the latest technology. If you would like to participate in future episodes, please email us at [email protected]. Read articles featuring the guests: Overcoming Objections And Winning Business With Ron Vaimberg Embracing Technology: One-On-One With Rocket Homes President Sam Vida Sign up for our free newsletter.…

Embracing Technology: One-On-One With Rocket Homes President Sam Vida

Artificial intelligence is changing how people buy homes and leaders at Rocket Companies are leaning in and embracing the latest technology. In December, it was announced that the Rocket Homes app is now available to potential buyers while they are driving through Apple CarPlay. Homes listed for sale can be seen in the “Nearby” tab. By tapping the vehicle’s screen, drivers can get directions to a home, call an agent, or save listings to their “Favorites.” Doug Seabolt, CEO of Rocket Homes, said at the time that the app is making house hunting more convenient for busy homebuyers on the go. “When looking for a new home, the search never stops – even when you are driving around town. That…