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More than a week after it shut down systems to combat a cybersecurity incident, title insurance giant First American Financial says it has restored some key systems and “contained the threat.” Though details about the hack — which has delayed closings across the country — remain sparse, a filing was made with the Securities and Exchange Commission […]
Happy Twixmas, kids! First of all, let’s unpack this precious time between Christmas and New Year’s when real estate pros are left wondering, what the heck do I do with myself and all of this unclaimed time?! Yes, you can (and definitely should) follow the lead of your friends who are on salary by kicking […]
In some ways, 2023 was the year of the homebuilder. There wasn’t much competition from existing homeowners. And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. The business appears durable, […]
The decline in mortgage rates in November helped financially strained homebuyers, according to ICE Mortgage Technology‘s latest Home Price Index data. It took $279 less per month to purchase the median-priced home in November compared to October, according to ICE Vice President of Enterprise Research Andy Walden. As a result, mortgage demand ticked up as […]
As companies gradually enforce back-to-the-office policies, the share of homebuyers trying to relocate to a different metro area decreased in November for the third month in a row. The share dropped to 23.9%, the lowest level seen in a year-and-a-half, according to Redfin. Compared to November 2022, the share of homebuyers trying to relocate fell […]
Rocket Companies expanded its board of directors from seven to eight, giving its chief executive officer Varun Krishna a newly-created seat. Krishna was voted to serve as a Class III director, effective December 21, 2023, according to an 8-K filing with the Securities and Exchange Commission (SEC) on Thursday. Krishna will serve “for a term […]
After nearly two years of trudging through a frozen housing market, the consensus among mortgage professionals is that the worst of it is over. The Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It finally seems like we are turning a […]
