Fannie Mae lowers mortgage rate forecast and says home-price growth will accelerate
Fannie Mae issued a new forecast that predicts the average U.S. rate for a 30-year fixed mortgage will be 3.7% in the second half of 2019, down from the 3.9% the mortgage financier called for a month ago. Unemployment probably will average 3.7% this year ...
MoxiWorks hires two new directors of business development
Real estate technology company MoxiWorks has taken on two new recruits with extensive backgrounds in the mortgage and housing industry. Kirsten “Kiki” Wanshura and Heather Glass are the two new directors of business development at MoxiWorks....
Former Freddie Mac CEO says GSEs should be regulated like utilities
Two weeks into his new gig as a senior fellow at Harvard University’s Joint Center for Housing Studies, Donald Layton, who was the CEO of Freddie Mac until the end of June, is speaking out – in favor of utility-style regulation of the GSEs. He also st...
Homebuilder confidence rises slightly, but cost concerns threaten future growth
Although homebuilder confidence inched forward one point to 65 in July, many builders still report rising construction costs as a major cause of concern, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief E...
Americans spent an average of $9,081 on home improvements in 2018 alone
Digital marketplace HomeAdvisor indicates that consumer spending on home improvement projects has increased by 17% since last year. According to the company’s State of Home Spending Report, American homeowners are now spending more money on home improve...
Realogy slapped with class-action suit for securities fraud
For nearly six months, the ongoing debate over buyer broker compensation has loomed large over the real estate industry, with two lawsuits taking the practice to task. Now, a third lawsuit has been filed that touches on the issue. This time, it’s a clas...
Rental prices hit a median of $1,465 in June
As rent prices continued to climb in June, RentCafé indicates that the nation’s mid-year average rent spiked $37 from the previous year. According to the company’s Mid-Year Rent Report, the national average rent in June totaled $1,465. Not only is th...
Kanye West investing in Star Wars-themed low-income housing
Now that he’s got the sneaker market thoroughly cornered, Kanye West is apparently moving on to his next project: affordable housing. A recent profile of the rapper-turned-designer revealed that West is working on designing prefabricated, low-income hou...
Mortgage Tech Rundown: Optimal Blue, FundingShield, Finastra and more
This week's mortgage tech rundown highlights the latest news in mortgage technology, featuring product updates, integrations and announcements....
Opendoor and Redfin join forces to begin buying houses in Phoenix and Atlanta
In what may seem like a surprising partnership between two would-be competitors in the burgeoning iBuyer market, Opendoor and Redfin are joining forces to buy homes in Phoenix and Atlanta. The companies announced this week that homeowners in those two cit...