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…
A new tool from Zillow will attempt to predict whether users will qualify for a loan when shopping with a budget. BuyAbility is an affordability tool from Zillow Home Loans that gives buyers a personalized estimate of the home price and monthly payment they can afford, as well as the likelihood of qualifying for a…
Zillow’s president, Susan Daimler, is leaving the company, along with her husband and senior VP of product, Matt Daimler. The Daimlers joined Zillow in 2012 when it acquired Buyfolio, Susan’s startup. She went on to head its New York operations and manage StreetEasy, then moved to the company’s Premier Agent business before becoming president. “When…
The value gap between white- and Hispanic-owned homes is slowly closing, seeing another significant decrease in the last two years. Hispanic-owned homes are now worth 11.9% less than homes owned by non-Hispanic white households. While any gap isn’t ideal, this is the narrowest it’s ever been, and down from a recent high of 12.4% in…
The U.S. Department of Housing and Urban Development and Zillow are teaming up to expand homeownership for a new generation of buyers. Alongside a series of new actions expanding housing counseling services, HUD tapped Zillow to display ads for its “Let’s Make Home the Goal” campaign on its digital platforms. The campaign is a multi-year…
By KIMBERLEY HAAS Chief Operating Officer Jeremy Wacksman has been promoted to chief executive officer at Zillow Group. He succeeds co-founder Rich Barton, who remains on the board of directors and becomes co-executive chair alongside Zillow co-founder and current Executive Chair Lloyd Frink. Wacksman was also appointed to the company’s board of directors. Wacksman left…
Mortgage rates fell further last week but buyers are waiting to see how far they’ll go before jumping into the market. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.77%, down 12 bps from the week prior’s 6.89%. A year ago at this time, the 30-year FRM averaged 6.78%. This is…
Residential construction slumped by more than expected in May, reaching its lowest level in four years. Housing starts were down 5.5% from April to 1.28 million annual pace, well below analyst expectations of 1.38 million and down from April’s revised 1.35 million, according to new data from the U.S. Census Bureau. These are the worst…
By KIMBERLEY HAAS Advances in artificial intelligence and other technologies are changing the game for homebuyers and real estate professionals. Ondrej Linda, a director leading Zillow’s Discovery AI team, said because of advancements in technology consumers today have a better understanding of what is on the market and they can be better matched with a…
Mortgage applications spiked after a few tough weeks on lower mortgage rates, though the bump didn’t last long. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 15.6%, reversing last week’s 5.2% dip. Adjusted purchase applications increased by 9%, while…
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