The report on the Home Equity Conversion Mortgage (HECM) book of business inside the Mutual Mortgage Insurance (MMI) Fund was another positive overall development for the program, with the estimated economic net worth of the HECM MMI at $15.368 billion, according to the Federal Housing Administration (FHA) Annual Report to Congress released in November. The […]
Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 5.94% this week, down from 5.96% during the […]
The Tech100 Mortgage award celebrates the most innovative and impactful organizations in housing. More than just an acknowledgment; the Tech100 award is a testament to the transformative impact these companies have made, propelling the mortgage sector into new realms of efficiency, transparency and accessibility. Now in its 12th year, the Tech100 program provides housing professionals […]
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
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
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’
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
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
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
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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
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
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
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,
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