Jun 3, 2020
How brokerages are responding to racial injustice and inequality??
KW- task force of IALC
eXp - pouring more resources and money in to eXpOne
Offerpad wants to list your client’s home
Consumers can now choose a direct, quick-close sale or a more traditional listing process. The move may rankle many in the real estate industry, who have long worried about technology companies moving into the space traditionally served by real estate agents
Mortgage rates hit another all-time low
The average U.S. rate for a 30-year fixed mortgage dropped to 3.15% this week
The average U.S. rate for a 30-year fixed mortgage fell to 3.15% this week, the lowest ever recorded in a Freddie Mac data series that goes back almost five decades.
The rate fell from 3.24% last week, setting a new record low for the third time in three months, according to the report.
Realogy is bringing back some furloughed employees
Realogy CEO Ryan Schneider told Fox Business that Realogy is 'making other moves to meet the increasing demand we’re seeing in the market'
The housing market is seeing a “snap-back,” Schneider confirmed in the appearance, after hitting a peak drop in the middle of April. But since that low, Realogy has seen increases in pending home sales, year-over-year, every single week since then. It was not immediately clear how many of the furloughed employees would be returning to work.
Even some of the hardest-hit areas like New York and New Jersey are starting to see some improvement. Certain geographies — like Connecticut and Atlanta, for example — are actually seeing more sales than the same time period in 2019.
Mortgage forbearance requests slow to a trickle, Black Knight says
7.2% of mortgages back by Fannie Mae and Freddie Mac have suspended payments
Requests for help from borrowers have slowed with the total number of mortgages in forbearance at about 4.8 million, Black Knight said on Thursday.
Only 7,000 mortgages entered forbearance this week, Black Knight said.
The overall share of home loans with suspended payments stands at 9%, Black Knight said. Broken out by investor types, 7.2% of mortgages backed by Fannie Mae and Freddie Mac are in forbearance. That’s a total of 2 million mortgages.
The forbearance share for home loans backed the Federal Housing Administration and the Veterans Administration was 12.6%, or 1.5 million mortgages.