Fannie Mae, the largest issuer of single-family mortgage bonds, said its net income fell 26% in the second quarter from a year ago as lending for home purchases slowed in the early months of the pandemic. Net income for the
U.S. GDP plunges a record 32.9% as jobless claims rise
U.S. GDP contracted a record 32.9% in the second quarter from a year ago, the Commerce Department said on Thursday, while a separate report showed jobless claims rising for the second consecutive week as the COVID-19 pandemic spins out of
Zillow announces partnership with homebuilder D.R. Horton
Zillow has announced a partnership with homebuilder D.R. Horton, allowing buyers of new construction homes to sell their current homes directly to Zillow through its iBuying solution, Zillow Offers. D.R. Horton customers selling their current home through Zillow Offers receive
Average U.S. mortgage rate breaks the 3% threshold again
The average U.S. rate for a 30-year fixed mortgage fell to 2.99% this week, the second-lowest on record, as investors worried about the economic fallout of the COVID-19 pandemic piled into the bond markets. The rate fell from 3.01% last
Survey: Almost Half of Recent Homebuyers Made an Offer Sight-Unseen, the Highest Share on Record
45% of surveyed homebuyers said they made a bid on a home without first seeing it in person, up from 28% in 2019. Redfin agents cite health concerns around the pandemic and competition fueled by a worsening housing shortage as
How Much Does a Home Inspection Cost?
You may be surprised to know that home inspection costs can vary widely from state-to-state. What it costs for a house in New York, NY to be inspected most likely will be different than a home in Portland, OR. Quite
Los Angeles Real Estate Market & Investment Overview 2020
We will discuss the latest Los Angeles housing market trends & news and find out how they can affect the investors and homebuyers. The shutdown due to coronavirus pandemic had an impact on the California economy and the real estate sector
Portland Real Estate Market And Investment Overview 2020
Let’s take a look at the current state of the Portland real estate market amid the coronavirus pandemic. Then we’ll discuss the investment opportunities in Portland for real estate investors. When COVID19 hit Oregon hard in March of 2020 the
Shellpoint hiring for over 130 positions across Texas, Arizona and South Carolina
Shellpoint Mortgage Servicing is currently hiring for over 130 positions mixed between remote work and its three southern branches. The company is looking to bring team members into its headquarters in Greenville, South Carolina and its branches in Houston and
Q&A: Why it’s important to make real estate websites accessible to all
This week marks the 30th anniversary of the Americans with Disabilities Act, creating opportunities for the disabled community. According to AP News, disabled workers still face higher unemployment than other adults, even 30 years after the act was passed. By
Fate of the economy depends on virus control, Fed says
The future of the U.S. economy depends on how well the coronavirus pandemic is controlled, the Federal Reserve’s rate-setting committee said on Wednesday. That’s not good news for a nation that leads the world in COVID-19 infections and deaths. “The
HEROES vs HEALS Act and what they would mean for housing
The HEROES Act, a bill introduced and passed by House Speaker Nancy Pelosi (D-CA) in May, could be signed this week, offering homeowners and renters much-needed relief in light of the COVID-19 pandemic. On the other hand is the Health,
Above, Below, or At List Price? How Much to Offer on a House
So, you’ve spent weeks house hunting and you’ve finally found the perfect home for you and your family. But how much should your initial offer be? Should your offer start above, below, or at list price? Figuring out how much
20% of Winning Home Offers Waived the Inspection Contingency in June, Up From 13% Last Year
More buyers are making concessions to win bidding wars amid a deepening housing shortage, record-low interest rates. In June, 19.9% of successful offers submitted by Redfin agents in select major U.S. markets waived the inspection contingency, compared with just 13.2%
Homeownership Hits Highest Level Since 2008 Driven by Younger, First-Time Buyers
Homeownership rates surged to 67.9% in the second quarter, the highest rate since 2008. The 3.8 percentage point increase from 64.1% a year earlier is the largest annual increase in homeownership rates on record. A word of caution about the
Art: This time, it’s personal
Commissioning artwork for your new house is a fantastic way to personalize your space and establish the style of your home. With the purchase of a new house comes a whole lot of wall space to fill. Rather than shoehorning
Sacramento Real Estate Market And Investment Overview 2020
Let’s get an overview of the Sacramento real estate market. This article has been updated to reflect recent changes in the housing market of Sacramento due to the coronavirus pandemic. The Sacramento housing market remains healthy and strongly skewed to sellers.
Home Sellers’ Asking Prices up 13% from Last Year as Demand Keeps Soaring
Key takeaways for the 4-week period ending July 12: Final prices for homes that sold during the period (meaning they likely went under contract in May and June) were up 6% year over year; for homes actively listed during the
8 Backyard Privacy Ideas to Create the Perfect Outdoor Escape
From soaking in the sun during the summer to cozying up by a fire pit in the fall, outdoor living spaces are oftentimes the favorite part of any home. But, unless you live on a large lot of land, chances
More than 27% of Homebuyers Are Searching Out of Town, with Phoenix, Sacramento and Las Vegas the Most Popular Destinations
The coronavirus pandemic is causing homebuyers to rethink what they want in a home, with more people relocating to places where they can afford more outdoor space and room for home offices, according to Redfin agents. A record 27.4% of
Bank of America settles alleged disability discrimination violations
A civil complaint and proposed settlement agreement were filed on Friday by the Department of Justice and the U.S. Attorney’s Office for the Eastern District of New York to resolve claims that Bank of America, N.A. participated in discrimination on
Here are HousingWire’s 2020 Women of Influence
The 2020 Women of Influence winners represent 100 of the most influential women in leadership in the housing industry. From tech advancements to mentoring to their engagement in nonprofits, these women are showing true leadership inside and out of the
Pelosi calls out Trump’s repeal of Obama’s fair housing rule
House Speaker Nancy Pelosi issued a scathing critique of the Trump administration’s decision to overturn an Obama-era fair-housing rule, noting it comes at a time when the nation is having a reckoning on racial issues. “The Trump Administration’s elimination of
Sales of new houses jump to a 13-year high
Low mortgage rates and pent up demand from buyers drove sales of new houses to a 13-year high in June, according to a government report. Builders sold 776,000 houses at an annualized and seasonally adjusted pace, a gain of 14%