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Ghost Town, USA: As Rates Rise ... Coming to a Town Near You


Zillow recently took a look at a few major metropolitan markets to highlight some areas that, should mortgage rates reach highs of six percent as many have predicted for 2014, many U.S. area would be essentially unaffordable to live in. Some individuals have highlighted that skyrocketing fees would lead to a more organic pricing structure in terms of homes, however; many others argue that Zillow’s estimates are correct, that certain neighborhoods would be unavoidably high.

On the list of neighborhoods facing devastation at the hands of increasing mortgage rates:Click to continue

Zillow Hosts Housing Forum

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Zillow Chief Economist Dr. Stan Humphries sat down with Barry Zigas, director of housing policy for the Consumer Federation of America and a commissioner on the Bipartisan Policy Center (BPC) Housing Commission, to discuss the BPC's plan for housing finance reform. A video of this discussion, entitled "Zillow Presents: Discussing Housing Finance Reform Options with Barry Zigas of the Bipartisan Policy Center Housing Commission, Facilitated by Zillow Chief Economist Dr. Stan Humphries," is now available on the Zillow Blog.Click to continue

Zillow Updates to iOS 7-Friendly Version

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Zillow Inc. has announced the launch of a new interface enhanced for iOS 7 and redesigned home shopping features for the Zillow Real Estate Apps for iPhone, iPad and iPod touch. The new Zillow Real Estate Apps bring simplicity to the time-consuming and complex process of finding the right home, taking advantage of iOS 7's design principles. In August alone, home shoppers spent over nine million hours on Zillow's mobile applications, viewing more than 320 million homes.Click to continue

Zillow Projects That Nearly Half of Homeowners to Undertake Remodeling Projects

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More than half (52 percent) of homeowners plan to make a home improvement or addition this fall, according to the Zillow Digs Fall Home Improvement Trend and Spending Survey, compared with 60 percent in the summer; homeowners plan to spend $1,000, which is $200 less than during the summer. While the percentage of homeowners planning remodels for nearly every room fell from the summer survey, homeowners will continue to focus on home office or playroom remodels in the fall.Click to continue

Negative Equity Tails Off in Second Quarter

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As home values continue to rise, the national negative equity rate continued to fall in the second quarter, dropping to 23.8 percent of all homeowners with a mortgage, according to the second quarter Zillow Negative Equity Report. However, millions of homeowners remain so far underwater that it will take years for them to regain equity, even as home values continue their recovery.Click to continue

Marksman Software Upgraded to Include New Organizational Functionality


Mortech has announced that it has rolled out a significant new functionality to its Marksman software that will make it a powerful tool for lenders to organize their day-to-day process. Marksman software is already used by hundreds of lenders across the country to source and manage leads, pre-qualify and match borrowers to specific loan products, and move those that don’t yet qualify to a warm leads program where they can be nurtured until they can be closed.Click to continue

Rates Drop to 4.37 Percent on Zillow Marketplace

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The 30-year fixed mortgage rate on Zillow Mortgage Marketplace hit 4.37 percent for the week, down 15 basis points from 4.52 percent at this time last week. The 30-year fixed mortgage rate hovered between 4.56 and 4.48 percent for the majority of the week before steadily declining near the current rate during the weekend.Click to continue

Home Value Appreciation Rate Rises 0.4 Percent in July

For Sale Sign/Credit: Medioimages/Photodisc

National home value appreciation rose again in July, up 0.4 percent from June to a Zillow Home Value Index of $161,600, according to the July Zillow Real Estate Market Reports. Home values were up six percent year-over-year in July, the 14th straight month of annual appreciation and the first time year-over-year appreciation rates have reached six percent since 2006. Monthly home values have risen in 20 of the past 21 months, beginning in November 2011 after the U.S. market bottomed in October of that year.Click to continue

Zillow to Host President Obama During Virtual Housing Roundtable Discussion

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President Barack Obama will answer questions from U.S. homeowners, renters and prospective buyers this Wednesday, Aug. 7, at 10:00 a.m. PDT/1 p.m. EDT in a live-streamed event entitled Zillow Presents: A Better Bargain for Responsible Homeowners: President Obama Answers Your Questions. The event will take place the day after President Obama's housing policy speech in Phoenix. Zillow Inc. will host the President during a virtual housing roundtable discussion.Click to continue

Zillow: Fixed Rates Back Down to 4.26 Percent

House For Sale/Credit: Jupiterimages

The 30-year fixed rate mortgage (FRM) on the Zillow Mortgage Marketplace is currently 4.26 percent, down 15 basis points from 4.41 percent at this time last week. The 30-year FRM hovered between 4.38 and 4.45 early last week, peaking at 4.48 last Thursday before declining near the current rate early this week.Click to continue