Guaranteed Rate will host a free financial education day in Chicago, the first of its “RateUniversity” offerings. The event will take place on May 19, 2024, at the Ramova Theatre in Chicago. Attendees will learn about homeownership through presentations on critical topics like credit and differing mortgage products. Bilingual workshops, in both English and Spanish,…
Markets in the Northeast and Midwest once again dominated the list of hottest markets for the year. In a ranking produced by the Wall Street Journal and Realtor.com, Rockford, Illinois took first place for 2024. The ranking considered affordability, cost of living, and the city’s overall attractiveness. Rockford has homes under $250,000 within commuting distance…
Guild Mortgage has acquired Illinois-based First Centennial Mortgage, the company announced in a press release. Founded in 1995 by brothers Steven and David McCormick, First Centennial operates predominantly in the Midwest. It recently ranked 64 of 75 in Scotsman Guide’s Top Mortgage Lenders of 2023 list and has been recognized as one of the fastest-growing…
By KIMBERLEY HAAS Leaders at Rocket Pro TPO are extending their promotion on 30-year conventional purchase loans at or under $200,000 as they gear up to be more competitive in that market this year. During an IGNITE: Live! webinar on Monday, Executive Vice President Mike Fawaz announced that they are continuing their 37.5 BPS credit…
By KIMBERLEY HAAS Industry leaders are sharing their thoughts as 2022 winds down and they are expressing gratitude despite challenges in the current market. Bill Banfield, EVP of Capital Markets at Rocket Mortgage in Detroit, Michigan, said he appreciates the mental stimulation of navigating a tough market because people are forced to get creative in…
As the housing cooldown continues, New Jersey, Illinois, and inland California have the highest concentration of at-risk markets, according to a new report from ATTOM. The Special Housing Risk Report spotlights county-level housing markets that are more or less vulnerable to declines, based on affordability, unemployment, and other measures from Q2 2022. The largest clusters…
U.S. home prices have broken another record: 8% of homes (6 million) are now worth $1 million or more, according to a new report from Redfin. That is nearly double the share from before the pandemic when the share was only 4.8% (3.5 million). The Bay Area has the biggest share of million-dollar homes, with…
The total number of loans in forbearance fell from 1.67% of servicers’ portfolio volume to 1.41% in December 2021, according to the Mortgage Bankers Association’s (MBA) Loan Monitoring Survey. The pace of monthly forbearance exits is at its lowest point since MBA began tracking exits in June 2020. MBA estimates 705,000 homeowners are currently in…
By KIMBERLEY HAAS A report released this month suggests that despite rising home prices it is more affordable to own a median-priced house than to rent a three-bedroom property in a majority of the United States. ATTOM’s 2022 Rental Affordability Report used fair-market rent data from the U.S. Department of Housing and Urban Development, wage…
A new study from United Van Lines found Americans moved to lower-density areas to be closer to their families in 2021. The study, which uses data from the migration patterns of United Van Lines customers, found Vermont and South Dakota had the highest inbound migration, at 74% and 69%, respectively. South Carolina (63%), West Virginia (63%), and…
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