Originally published on September 23, 2021, by Angela Waugaman for Freddie Mac.
MCLEAN, Va., Sept. 23, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.88 percent.
Originally published on September 13, 2021, by Huo Jingnan, Rebecca Hersher, Tegan Wendland, Steve Newborn and Daniel Rivero for NPR.
The first thing Larry McCanney fell in love with was the tree in the front yard. It cast shade on the porch of a house that, if he were honest, needed some work. But McCanney is handy, the price was right and the location was perfect, just a couple of miles from his childhood home in Burlington, N.J.
Originally published on September 23, 2021, by Joe Hernandez for NPR.
Home appraisers are more likely to undervalue homes in Black and Latino areas than those in white ones, a new report by Freddie Mac has found.
Originally published on July, 2021, by Brian Fluhr for Veros.com.
Today Veros Real Estate Solutions, an industry leader in enterprise risk management and collateral valuation services, released its Q2 2021 VeroFORECASTSM data that anticipates home prices will continue to appreciate at high levels during the next 12 months in the 100 most-populated markets at a rate consistent with our previous update one quarter ago. Veros is committed to the data science of predicting home value based on rigorous analysis of the fundamentals and interrelationships of numerous economic, social, and geographic variables as they pertain to home value. This data-driven approach indicates that many of the top-performing cities are trending upwards at a double-digit rate.
Originally published on July 6, 2021 by Beth Mattson-Teig for WealthManagement.com.
Although the pandemic caused tenants in other real estate sectors to hit the brakes on a new leasing, that was not the case in industrial. The industrial market saw a robust year of leasing activity in 2020 that has carried over into 2021. According to Cushman & Wakefield, net absorption for 2020 reached 268.4 million sq. ft., surpassing the 240.9 million sq. ft. reported at year-end 2019 by 11.4 percent. Demand roared into the first quarter with 82.3 million sq. ft. of net absorption—a record high for the first quarter. Cushman & Wakefield also reported a healthy national average vacancy rate of 4.9 percent and annual rent growth of 7.8 percent.
Originally published on June 30, 2021 for Freddie Mac.
A new white paper pdf from Freddie Mac (OTCQB: FMCC) Multifamily studies the impact of the end of eviction moratoriums and role of rental assistance as the nation recovers from the economic impact of COVID-19. As eviction moratoriums and renter protections lapse, Freddie Mac is encouraging renters and property owners to proactively understand and seek available rental assistance to help mitigate the remaining economic challenges as the country emerges from the pandemic.
Originally published on June 28, 2021, the Consumer Financial Protection Bureau.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today finalized amendments to the federal mortgage servicing regulations to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out and which will help protect mortgage borrowers from unwelcome surprises as they exit forbearance. The amendments will support the housing market’s smooth and orderly transition to post-pandemic operation. The rules issued today will establish temporary special safeguards to help ensure that borrowers have time before foreclosure to explore their options, including loan modifications and selling their homes. The rules cover loans on principal residences, generally exclude small servicers, and will take effect on August 31, 2021.
Originally published on June 17, 2021, by Erin Osgood for Redfin.
SEATTLE, June 17, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — The national median home-sale price hit a record high of $377,200 in May, up a record 26% year over year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The housing market also set new records for home-selling speeds and competition, but seasonally adjusted home sales and new listings flattened from April. Leading indicators of housing market activity are also declining into June, according to the latest weekly data, signalling that the pace of the market may be slowing.
Originally published on June 7, 2021, by Robert Dietz for the National Association of Home Builders.
Ending a period of volume decline that began at the end of 2019, the volume of residential construction lending posted an increase during the first quarter of 2021. Nonetheless, overall residential construction loan volume ended the year lower due to accelerated sales growth, which reduced outstanding loans at a faster rate.
Originally published on June 8, 2021, by Tom Acitelli for The Commercial Observer.
Call it another benefit of education.
Originally published on May 26, 2021, by George Ratiu for Realtor.com.
The past year has seen a noticeable seesaw in real estate activity, as markets traversed the challenges of the COVID pandemic. Housing started in 2020 with a significant shortage of new homes and an inventory of existing ones. As 4.7 million millennials turned 30 and embraced homeownership, the demand for homes was driving prices higher at a healthy clip. The mid-March 2020 quarantines put a stop to most transactions, leading to a sharp drop in activity until June. As the lockdowns were lifted, Americans reacted to the trifecta of social distancing, remote work, and dropping mortgage rates by rushing out of downtowns and into suburbs, as well as smaller cities and towns across the country. People focused on communities with a higher quality of life, larger homes, and a more affordable cost of living.
Originally published on May 26, 2021, by Redfin.
SEATTLE, May 26, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Nationwide, 30.6% of Redfin.com users looked to move to a different metro area in April, down slightly from 31.5% in the first quarter but up from 26% at the same time last year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage.
Originally published on May 11, 2021, for Redfin.
SEATTLE, May 11, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Redfin forecasts a record $2.53 trillion worth of home sales in America in 2021—a 17% year-over-year gain that would mark the largest annual increase in percentage terms since 2013. Redfin (www.redfin.com), the technology-powered real estate brokerage, made the prediction in a new report out today. To put $2.53 trillion into perspective, it's roughly equal to the value of Amazon.com Inc. and Facebook Inc. combined, or the 2020 gross domestic product (GDP) of France.
Originally published on May 13, 2021 for Freddie Mac.
MCLEAN, Va., May 13, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.94 percent.
Originally published on April 27, 2021 by Isabelle Novak for Redfin
SEATTLE, April 27, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Prices of urban single-family homes are rising nearly 20% year over year—faster than any other type of home—according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. But this year's hot housing market doesn't discriminate: Urban condo sales are up nearly 30% year over year, more than any other home type.
Originally published on April 28, 2021, by the Federal Housing Finance Agency.
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today Fannie Mae and Freddie Mac (the Enterprises) will implement a new refinance option for low-income borrowers with Enterprise-backed single-family mortgages. Eligible borrowers will benefit from a reduced interest rate and lower monthly payment. FHFA estimates that borrowers who take advantage of the new refinance option could save an average of between $100 and $250 a month.
Originally published on April 27, 2021, by the Consumer Financial Protection Bureau.
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022. The CFPB is taking this action to help ensure access to responsible, affordable mortgage credit, and preserve flexibility for consumers affected by the COVID-19 pandemic and its economic effects.
Originally published on April 22, 2021, by ATTOM Staff for ATTOM Data Solutions Blog.
IRVINE, Calif. — Apr. 22, 2021 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its first-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic that continues to impact the U.S. economy. The report shows that states along the East Coast, as well as Illinois, were most at risk in the first quarter of 2021 – with clusters in the New York City, Chicago and southern Florida areas – while the West continued to face less risk.
Originally published on April 8, 2021, by Freddie Mac.
MCLEAN, Va., April 08, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.13 percent.
WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) increased in March by 5.2 points to 81.7. Four of the HPSI’s six components increased month over month, including the components related to homebuying and home-selling conditions, household income, and home prices. The mortgage rate outlook component experienced only a decline, and the latest results indicate that only 6% of consumers believe that mortgage rates will decrease over the next 12 months. Year over year, the HPSI is up 0.9 points.
“The significant increase in the HPSI in March reflects consumer optimism toward the housing market and larger economy as vaccinations continue to roll out, the third round of stimulus checks was distributed, and the spring homebuying season began – perhaps with even more intensity this year since 2020’s spring homebuying season was limited by virus-related lockdowns,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “Home-selling sentiment experienced positive momentum across most consumer segments – nearly reaching pre-pandemic levels and generally indicative of a strong seller’s market. Consumers once again cited high home prices and tight inventory as primary reasons why it’s a good time to sell. Alternatively, while the net ‘good time to buy’ component increased month over month, it has not recovered to pre-pandemic levels, as the home buying experience continues to prove difficult for many of the same reasons, namely high prices and a lack of supply.”
