Inflation slows to 7.1% in November, a boost for the housing market
Slower-than-expected inflation rate is good news for the housing market, which has suffered greatly from the affects of rate hikes.
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30-Year Fixed Mortgage Rates Up Slightly
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.47 percent, up from 3.46 percent.
Housing Market Tracker: Housing inventory falls once more
The Housing Market Tracker shows that housing inventory decreased by 6,468 units, a more pronounced decline from the previous week.Â
What is Inflation and How Can It Hurt You?
Concerns over inflation continue to be a hot issue in the economic recovery from the COVID-19 pandemic. But what is inflation? And should you be worried about it?
Point of Sale, Appraisal, Outsourcing, Appraisal Products; Mergers and Lender Closures Continue
Every lender or investor with an âaâ in their name seems to be subject to rumors and news in recent months. (More on Flagstar and American Pacific below.) Know anyone named âBernadetteâ? The name is actually Latin for, âThe act of torching a mortgage.â (Yes, it is cutting edge humor like that which brings you back.) Burning liens isnât a topic, but paying them off early is, and with mortgage rates off of their highs, early pay offs, or EPOs, were a conversation topic at the conference this week. And with it, loan officer compensation follows. Can a lender pay an originator based on pull through? Yes. Can lenders pay different originators under different payment plans, as long as the originator sticks with one plan? Yes. Can a lender, if they comply with state labor law, ask for compensation back after an EPO or EPD? Yes, and it may depend on the contract signed by both parties at the beginning of employment. As always, consult your in-house counsel or a lawyer well-versed in mortgage banking. While weâre on originators, occasionally I am asked about training for brand-spanking-new loan officers. No, this is not a paid ad, but veteran LO Tanya Blanchard has created Madison Chase Academy, â6 Months to 6 Figures: A Loan Officerâs Guide to a Profitable Businessâ with a sneak peak on the website. (This weekâs podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking.)
Dave Stevens on understanding this housing market
Dave Stevens discusses the psychology of this housing market and five things loan originators need to remember if they want to succeed now.
30-Year Fixed Mortgage Rates on the Rise Again After Recent Decline
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.45 percent, up from 4.37 percent.
Long-term mortgage rate hits lowest level in 4 months – Fort Worth Business Press
Long-term mortgage rate hits lowest level in 4 months Fort Worth Business Press
Decades of Zero Return
I came across this chart two weeks ago and I stopped in my tracks.
Apartment market weakens as Fed rate hikes impact rent and financing
“The Fed’s interest rate hikes are having their intended effect on prices, as monthly apartment rents decreased nationwide,” Obrinsky said. He added that although rents are still higher than year-ago levels, this reflects past, not current rent inflation. NMHC’s sales volume index was also below the break-even level at 10. Around 82% reported lower sales … [Read more…]