By ERIN FLYNN JAY Foreclosure activity could rise in 2025 but industry leaders say there likely won’t be a dramatic increase. Last year, foreclosure activity declined. Foreclosure filings — default notices, scheduled auctions, and bank repossessions — were reported on 322,103 U.S. properties. That represented 0.23% of all housing units, down slightly from 0.25% in…
By ERIN FLYNN JAY Among real estate investors across the country, optimism has dropped. Limited inventory, increasing home prices, high finance costs, and insurance issues are to blame. Investors also worry that tariffs and mass deportations could impact the market. The Winter 2024 RCN Capital/CJ Patrick Company Investor Sentiment Index shows that in the fourth…
By ERIN FLYNN JAY Severe storms cause billions of dollars in damage each year in the United States and climate risks are forcing property owners, mortgage lenders, and insurance companies to rethink their strategies. According to the National Oceanic and Atmospheric Administration, from 1980 to 2024, there were 403 confirmed weather/climate disaster events with losses…
By ERIN FLYNN JAY The cost and availability of home insurance is an issue across the country, and things are likely to get worse as the number and severity of extreme weather events continue to increase. Rick Sharga, president and CEO of CJ Patrick Company, said the challenge of finding affordable insurance – or any insurance…
By ERIN FLYNN JAY As mortgage rates rise heading into the holiday season, potential buyers are holding off on home purchases hoping for more favorable conditions in the new year. Officials at Freddie Mac reported Thursday that last week the 30-year fixed-rate mortgage averaged 6.72%, up from 6.54% the week prior. This is the fifth consecutive…
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…
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