By ERIN FLYNN JAY As mortgage rates drop, some industry leaders are hopeful that home sales will pick up moving into the fourth quarter, but it looks like 2024 won’t meet expectations. Although applications are ticking up, refinances may be hitting their ceiling, and according to the August economic forecast from the Mortgage Bankers Association,…
By ERIN FLYNN JAY As home flipping rates went up at the start of this year, profits kept improving for investors who buy and quickly resell homes. Last month, ATTOM released its first-quarter 2024 U.S. Home Flipping Report, which showed that 67,817 single-family homes and condominiums in the United States were flipped in the first…
By ERIN FLYNN JAY In the past year, 1% down payment options have become popular. United Wholesale Mortgage has even announced a 0% down plan with a second lien loan as opposed to a grant. But do these programs disincentivize buyers who would otherwise feel pressure to put money aside for a house? Matt Walsh,…
By ERIN FLYNN JAY Home flipping activity is down across the nation as people who work in the industry see reduced returns on investments due to high interest rates and inflation. Last month, ATTOM released its 2023 U.S. Home Flipping Report, which showed that 308,922 single-family homes and condos in the United States were flipped…
By ERIN FLYNN JAY The concept of mortgage porting, or transferring the terms of an existing loan over to a new property, has gained popularity as Americans locked into low interest rates try to figure out ways to navigate the current housing market. It is estimated that trading up to a 25% more expensive home…
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….
By ERIN FLYNN JAY Gross profits and profit margins remained near record levels for sellers last year but they decreased for the first time since 2011 in what could be seen as a sign of a cooling housing market. ATTOM released its Year-End 2023 U.S. Home Sales Report on Jan. 24, which shows that home sellers…
By ERIN FLYNN JAY As 2023 comes to a close, industry leaders say there were some highs, but leaving this year behind won’t be a problem for many mortgage professionals. ATTOM CEO Rob Barber said in the spring, as the peak homebuying season heated up, lenders nationwide enjoyed their first quarterly increase in mortgage activity…
By ERIN FLYNN JAY As artificial intelligence plays an increasingly important role in the mortgage business, industry leaders are figuring out ways to harness its power to revolutionize homebuying. Dan Weisman, director of innovation strategy at the National Association of Realtors, said AI brings enhanced automation, efficiency, and transparency to the process. People who can…
By ERIN FLYNN JAY Mortgage loans have some risks, as do student loans. But the two don’t add up to a toxic combination that threatens to cause a price crash in the housing market, and trillions of dollars of damages for taxpayers to clean up. A recent WSJ opinion piece by Allysia Finley claims taxpayers are…
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