Rebranding: Quicken Loans to Soon Become Rocket Mortgage
After July 31, Quicken will retire its name and start using Rocket Mortgage, a subsidiary it formed in 2015 in order to completely automate the lending process.
NAR Economic Forecast: Consumers Will Propel 2021 Growth
After the quickest recovery in the nation’s history, consumers with pandemic savings will “do more shopping, restaurant dining, traveling and in-person house hunting.”
Fla. No. 1 for Median List Price, Most Expensive Home Price Gap
Realtor.com study: The median asking price for a Fla. home in April was $367,450; the asking price for the most expensive listing was $95M – a 25,754% difference.
Mortgage Rates Down a Bit – But Can It Continue?
The average 30-year, fixed-rate mortgage dropped to 2.94% from last week’s 2.96%, but with inflation apparently rising, they’ll likely change direction soon.
Foreclosures Less Likely with Few Homes Underwater
Underwater homeowners – they owe more on their mortgage than their home’s value – are more likely to end up in foreclosure. But today, 1 in 3 owners with a mortgage (32%) have at least 50% equity, and only 1 in 21 (4.7%) owes 25% or more than their home’s current market value.
How Tight Is Inventory? 1 in 4 Listings is New Construction
Except for sky-high material prices, it’s a good time to be in the home construction industry. Of homes available to buyers today, one in four (25.7%) is brand new.
Condo Q&A: How Can We Raise Capital for Future Projects?
Also: Should a condo board send warning letters before issuing fines? A board does so, but some members now wonder whether that’s a good idea.
More Relocators than Locals Ask About S. Fla. Climate Change
Some agents say “elevation, elevation, elevation” is replacing “location, location, location” in S. Fla. But it still doesn’t top most buyers’ lists as a must-have.
What Type of Homeowner Opted for Forbearance?
About 4M owners chose to delay monthly mortgage payments using forbearance, and 1 in 3 (34%) used the money for essentials. Many now worry about what comes next.
Expanding Economy Makes Foreclosure Wave Less Likely
Two-thirds of homeowners in forbearance have already started making monthly payments – and March had the best single-month improvement in delinquencies in 11 years.