Mr. Cooper lays off originators while mortgage servicing business booms
Sale of Xome subsidiary could be in the works as lenders boost foreclosure filings and auction platform's distressed property inventory swells to record levels
by Matt Carter May 3
Pending home sales keep falling as market conditions 'normalize': NAR
Pending home sales dipped for the 5th straight month in March, with the Pending Home Sales Index dropping 1.2% from February to 103.7, according to the National Association of Realtors
by Lillian Dickerson Apr 27
Mortgage rates climb to highest level since 2009
Demand for purchase mortgages was down 17 percent last week compared to the same time a year ago, according to a weekly survey of lenders by the Mortgage Bankers Association on Wednesday
by Matt Carter Apr 27
New home sales hit 4-month low
New home sales took an 8.6% hit in March as rising home prices and mortgage rates made homebuyers think twice before purchasing a new home, according to new data released Tuesday
by Lillian Dickerson Apr 26
Zillow changes tune on 2023 home values and sales. Here's why
Zillow now expects home value growth to reach 14.9% through March 2023, down from its previous estimate of 16.5% growth. What's with the downgrade?
by Lillian Dickerson Apr 22
Existing-home sales drop for second month as buyer demand stalls
Total existing-home sales dropped by 2.7% from February 2022 and by 4.5% from March 2021 to a seasonally adjusted annual rate of 5.77 million, according to the National Association of Realtors
by Lillian Dickerson Apr 20
'Modest recession' eyed in 2023, Fannie Mae economists predict
Home sales now expected to decline by 7.4% this year and 9.7% in 2023, a dramatic adjustment from March, when Fannie Mae forecast a 4.1% decrease in home sales this year and a 2.7% decrease in 2023
by Matt Carter Apr 19
US housing starts hit fastest pace in 16 years
Privately owned housing starts increased 0.3% from revised February figures to a seasonally adjusted annual rate of 1.79M, according to US Census Bureau data released Tuesday
by Lillian Dickerson Apr 19
Despite March’s home sale slump, prices grow at fastest clip since 2013
Nearly 4% fewer homes sold in March than did the month before, after accounting for seasonal factors. Prices rose by 6%, the largest monthly price increase since 2013
by Daniel Houston Apr 15
Wells Fargo warns it will cut costs as mortgage lending continues to slide
Although Wells Fargo executives did not explicitly mention impending layoffs during a Q1 earnings call on Thursday, the company has been closing branch offices
by Matt Carter Apr 15
Divyy Homes CEO: Rising home prices and rates are business drivers
'Our goal is not necessarily to expand a ton into new markets,' Divvy CEO Adena Hefets told Inman ahead of Inman Connect New York next week following company's latest $200M round
by Matt Carter Apr 15
Rising home prices expected to drive record purchase loan volume
High home prices are expected to drive a record $1.72 trillion in purchase mortgage originations in 2022, even though rising mortgage rates could put a dent in sales of existing homes
by Matt Carter Apr 13
RE/MAX enlists SUCCESS Coaching exec to lead West Coast operations
SUCCESS Coaching executive Ben Fairfield has joined RE/MAX as vice president of region development for the West Coast, overseeing franchise growth across 15 states
by Marian McPherson Apr 12
Would-be homebuyers rushed to lock in mortgage rates in March
Despite the fastest one-month rise in mortgage rates in nearly 13 years, purchase lock volume climbed 31% from February likely driven by borrowers moving to secure loans before rates rise
by Matt Carter Apr 10
Homebuyer sentiment hits record low
Only 24% of consumers think now is a good time to buy a home — the lowest reading ever recorded in a monthly survey conducted by Fannie Mae since 2010
by Matt Carter Apr 7