By CHUCK GREEN
As the traditional spring homebuying season begins, a lack of inventory, high interest rates, and economic uncertainty due to banking troubles have dominated the news. So what can people expect?
Rick Sharga, president and CEO of CJ Patrick Company in California, told The Mortgage Note that it’s “unlikely to be a banner period for home sales. Extremely low inventory of homes for sale coupled with poor affordability are likely to keep sales activity fairly weak, even though seasonal trends usually see sales and prices increase during the spring and summer months.”
Although the second quarter is typically the peak season for home sales, that has been disrupted in recent years, noted Sharga.
“This seasonal trend didn’t happen…
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 on these loans.
Fawaz said they want to make sure that they listen to their broker partners and their feedback.
“This is something we have been extending every single month since December. And the feedback continues to be incredible and positive and broker partners want it,” Fawaz said.
Fawaz explained the philosophy behind the promotion.
“When you think about it, we are very competitive when…
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 data from the Bureau of Labor Statistics, and sales deed data in 1,154 counties to find that home ownership will be more affordable in a majority of the country again in 2022. Todd Teta, Chief Product Officer at ATTOM, said home ownership still remains the more affordable option for average workers because it takes up a smaller portion of their pay when the math is…
By Kimberley Haas Veterans throughout the country are being gifted homes or renovations to their existing houses as lenders and other business leaders come together to honor the service and sacrifices of the men and women who served in the U.S. military. On Wednesday, Veterans United Home Loans in Columbia, Mo., announced they are giving away 11 homes to 11 veterans to celebrate Veterans Day. Actor, comedian, and retired United States Marine Officer Rob Riggle has teamed up with Veterans United to be part of the project. “These veterans have continued to live the military value of ‘selfless service’ even after they’ve hung up their uniforms,” Riggle said in a statement. Veterans United is surprising 10 veterans with new houses…
