Airbnb vacation rentals took over one city in Arizona, frustrating its citizens and causing business leaders to speak out. It is now estimated that about 1,000 homes, or 20% of the city’s total housing inventory, are being used as short-term vacation rentals.
Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements. Today we take a look at the latest fintech news from AIME, LoanScorecard and Shape Software.
The Federal Reserve released the minutes Wednesday from its July Federal Open Markets Committee meeting, showing that more rate cuts are likely through the end of 2020. But one expert points out the decision was not without its opponents. In fact, the Fed minutes reveal … Continue readingFed minutes show more rate cuts likely through 2020
Mortgage rates and bond yields have plummeted recently. As a result, the economics of mortgage lending have shifted. In this guest contribution, former MBA CEO David Stevens asks whether the time is right for lenders to consider retaining the mortgage servicing rights on their loans.
Potential existing-home sales fell in July as inventory concerns continued to threaten the market’s overall growth, according to First American’s Potential Home Sales Model. According to the company’s analysis, the market potential for existing-home sales fell by 1.2% from 2018, equating a loss of 63,000 … Continue readingAmerica's growing home tenure is threatening potential home sales growth
Existing-home sales rose in July from the prior month, increasing nearly 2.5%, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said falling mortgage rates are improving housing affordability and nudging buyers into the market. However, Yun warns … Continue readingLow mortgage rates spur gain in July's existing home sales
Do mortgage lenders have their hands full right now thanks to the recent surge in refinances? It looks like that may be the case, as new data from the Mortgage Bankers Association shows that refinances remained at three-year highs in the last week. According to the MBA … Continue readingAre mortgage lenders maxed out? MBA survey shows refinances remain at 3-year high
Douglas Elliman Real Estate, the top brokerage in the New York metro area, is expanding into Texas. On Tuesday the brokerage announced a joint venture with Sudhoff, a company based in Houston that specializes in luxury high-rise condominiums. Jacob Sudhoff, president of Sudhoff, was named … Continue readingDouglas Elliman launches in Texas
Another day, another set of data that shows that Millennials are now officially in the housing market. Earlier this year, data from realtor.com showed that Millennials were responsible for more new mortgages in 2018 than any another generation. Now, new data from the same source shows that Millennials’ … Continue readingHere's more proof that Millennials have officially entered the housing market
On September 16, Lacey Dingman will join the Federal Reserve Bank of New York as executive vice president, head of the human resources group and chief human resources officer. Formerly a senior leader at the Securities and Exchange Commission and most recently a senior associate director … Continue readingNew York Fed Names Lacey Dingman as Chief Human Resources Officer