Wells Fargo Cuts Back on Mortgage Lending
The company strived to be No. 1 and once churned out a third of all U.S. mortgages. But it’s cutting ties to outside lenders after years of regulatory struggles.
FHFA Wants Advisory Board to Oversee Policy
The agency that oversees most U.S. mortgages wants an advisory board to help FHFA achieve its goal to create affordable, equitable and sustainable housing.
Struggling Americans Will Decide if It’s a Recession
Bank of America’s CEO says it doesn’t matter if the U.S. is officially in a recession because most consumers are in good shape and can withstand economic turbulence.
Fannie Mae Lowers 2022 Home Sales Projection
Fannie Mae expects a 16.2% drop in home sales year-to-year in 2022; one month earlier it predicted 15.6%, but “housing remains clearly on the downtrend.”
NAR: Pending Home Sales Slip 1.0% in July
While small, 1% is the second monthly sales drop in a row, with 8 in the past 9 months. Year-to-year, contract signings fell by double digits in all four U.S. regions.
July New-Home Sales Down 12.6% Month-to-Month
The 29.6% year-to-year decline is slowest pace since 2016. NAHB says “higher prices and increased interest rates are generating a notable slowing” in the market.
Is Homeownership Via a Land Contract Worth It?
Seller-financed land-installment contracts give low-income buyers a shot at homeownership, but they don’t get the deed for 30-plus years and seller abuse is common.
Home Affordability Hits Lowest Point since 1989
NAR: Housing affordability reached a 33-year low in June, according to NAR data – but an inventory increase and stabilizing mortgage rates may help.
Vacation Home Markets with the Highest Demand?
The U.S. has 1.1M vacation rental properties and while investors seeking top returns often focus on tourist destinations, some smaller unexpected cities also work.
A Two-Way Street: Show Appreciation, Get Leads
Clients who feel appreciated – especially over and over again – often feel a bond and recommend their Realtor to family, friends and others.