Mortage News

An influx of new residents into the South Florida market is being balanced with an exodus of longtime residents who can no longer afford to live in this area
The Sun Shines on Miami's Q2 Housing Market
Miami single-family home sales rose 5.8 percent year-over-year in the second quarter, while luxury single-family home sales soared by 25.2 percent, according to data from the Miami Association of Realtors.   Also on the rise were median... Read more
Wells Fargo Drops 40 Mortgage Division Employees
Wells Fargo has quietly laid off 40 Des Moines-area employees in its home mortgage division.   The Des Moines Register obtained state records confirming the layoffs, which the San Francisco-headquartered company did not publicly announce... Read more
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Zillow Chief: Redfin is a "Threat" to Real Estate Agents
Zillow Group CEO Spencer Rascoff is accusing Redfin of being “a threat to organized real estate,” adding that it seeks to run many agents out of business.   According to a Geekwire report of a Zillow conference call that was designed to... Read more
Fewer Q2 Housing Affordability Options
Nearly 60 percent of new and existing homes sold during the second quarter affordable to families earning the median income of $68,000, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index.... Read more
A new study issued by the real estate brokerage Redfin has determined African-American and Hispanic middle-class families are having difficulty in obtaining affordable homeownership options in many major metro areas
Mixed Results on July Home Purchase Data
Mortgage applications for new home purchases in July were up 5.1 percent year-over-year but down 12 percent from the previous month, according to the Mortgage Bankers Association’s (MBA) latest Builder Applications Survey data.   The MBA... Read more
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30-Year Fixed Mortgage Rate Sinks Lower
The 30-year fixed mortgage rate fell to its lowest point in six weeks, according to the Freddie Mac Primary Mortgage Market Survey for the week ending Aug. 10. The 30-year fixed-rate mortgage (FRM) averaged 3.90 percent, down from last... Read more
2018: A Year With a Tighter Housing Inventory?
The housing inventory shortage could become tighter in 2018, according to a new study released by Realtor.com.   In a poll of 1,054 homeowners, the study found approximately 59 percent of respondents had no plans to sell their home in the... Read more
United Wholesale Mortgage (UWM) has announced the promotion of Sarah DeCiantis to Chief Marketing Officer
UWM Offers First Virtual E-Closing
United Wholesale Mortgage (UWM) has introduced the nation’s first virtual e-closing experience, where borrowers can complete a full mortgage transaction without ever leaving their home or wet signing a single document.   To make online... Read more
New Book Highlights Green Commercial Property Valuations
The Appraisal Institute has published a new book that enables commercial real estate professionals to better appreciate the complexities of the green building movement.   “The Valuation of Green Commercial Real Estate” by Timothy P. Runde... Read more
Mortgage application transactions are on the rise again, according to new data from the Mortgage Bankers Association (MBA) that traced activity for week ending July 14
Millennials Prefer Conventional Mortgages to FHA-Backed Loans
Millennials entering the housing market are mostly bypassing Federal Housing Administration (FHA)-backed mortgages, according to new data from Ellie Mae.   In an analysis of mortgage data culled during June, Ellie Mae found 63 percent of... Read more