As the National Association of Realtors (NAR) and its members prepare for Monday’s board of directors meeting, leaders are asking members and directors to consider some proposed changes to both the code of ethics and MLS rules. Repeals are the name of the game When it comes to MLS rules, according to Merri Jo Cowen, […]
NAR proposes MLS rule repeals, updates to code of ethics Read More »
While much of the U.S. housing market faces affordability pressures and elevated mortgage rates, the luxury sector continues to expand. A new Mordor Intelligence report projects the high-end residential market will exceed $338 billion by 2030, up from roughly $289 billion today. The firm reports that although the West accounted for a third of luxury
Luxury real estate market projected to exceed $330B by 2030 Read More »
Most home improvement contractors are still optimistic about the future of the market, but headwinds such as material costs and reined-in consumer spending are weighing down expectations. The Q3 Contractor Activity Tracker, released by The Farnsworth Group and Home Improvement Research Institute, found that home improvement contractors are less optimistic than they were a year
The Supreme Court could decide on the legality of many of the Trump administration’s tariffs within months, but the ruling won’t impact many of the administration’s levies on imported construction materials such as lumber, steel, aluminum and copper. The case before the Supreme Court contests the legality of the president’s use of the International Emergency
The Trump administration is preparing a major overhaul of its homelessness strategy, moving away from long-term housing support and reducing funding for those programs. The plan redirects Continuum of Care program resources toward short-term shelters that tie participation to employment and substance-abuse treatment. According to a statement from the U.S. Department of Housing and Urban
HUD announces drastic changes to homelessness strategy Read More »
A 50-year mortgage sounds like the next big innovation in housing finance, a way to make homes “affordable” again in an era of high prices and stubborn interest rates. But the way I was raised and educated, financial independence and straight talk count. Having studied economics at Texas A&M, I see this for what it
The 50-year mortgage: I’m not buying the “forever loan” Read More »
Mortgage rates were only modestly higher on Friday, but because of the narrow prevailing range and previous increases this week, that brings us right in line with 2-month highs. Bonds (which dictate rates) began the day with promise. There was heavy buying (good for rates) in the 7am hour. This coincided with stocks challenging their
Rates Rise on Friday, Now Near 2-Month Highs Read More »
Mortgage delinquencies increased by 6 basis points from the second quarter, as the performance of Federal Housing Administration-insurance loans declined, the Mortgage Bankers Association National Delinquency Survey found. Recently, ICE Mortgage Technology executive Andy Walden said FHA loan performance trends were a yellow flag for the mortgage industry. Delinquent mortgages made up 3.99% of all
Mortgage delinquency levels rise on softer FHA performance Read More »
Bayview Asset Management and three affiliates have agreed to a settlement with plaintiffs over a data breach lawsuit for a hack that affected 5.8 million people in 2021. The sides agreed to basic terms of a class action settlement, subject to court approval and the final dismissing of the case, according to a court document
Servicers OK data breach settlement after long legal battle Read More »
Left to righ: Bryce Bradley, Rosegate Mortgage; Craig Freel, Rice Park Capital Management Private investment firm Rice Park Capital Management will acquire a retail and consumer-direct lender one year after the two businesses signed an initial partnership agreement. As in several recent mergers, the servicing pipeline potential figured prominently behind the Minneapolis-based financial firm’s decision
Rice Park acquires Rosegate Mortgage in recapture push Read More »