As Federal Reserve policymakers meet this week amid a high likelihood they’ll keep benchmark interest rates unchanged, the recent downward movement in mortgage rates leveled off.HousingWire‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was at 7.01% on Tuesday. That fig

Perchwell, a New York City-based real estate data firm that works with MLSs, brokers and agents, announced Tuesday that it has raised $25 million in a Series B financing round. The financing round was led by Lux Capital, which also participated in the company’s Series A round. The newest round also

As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. This is according to a new report published by U.S. Mortgage Insurers (U

Rate has hired a new head coach. The Chicago-based mortgage lender announced Tuesday that it’s bringing on Daniel Manginelli to lead its sales coaching program, which is designed to help mortgage professionals implement best practices and improve performance.According to the company, the coaching pr

Officials in Montana continue to promote the specialized Reverse Annuity Mortgage (RAM) program for the state’s seniors, with one official saying that it could be a big difference-maker for those in Montana looking to age in place while gaining access to additional cash.The program was passed by the

A payroll tax in Washington state that is designed to establish a fund for older residents’ long-term care needs could be undone by voters this fall through a ballot initiative.“WA Cares” is a payroll tax that is described as a “public long-term care insurance program” in which all working Washingto

A coalition of Democratic lawmakers in the U.S. Senate and House of Representatives have reintroduced a bill designed to address housing issues by rehabilitating or constructing millions of additional units in an effort to bring down costs for renters and homeowners.Known as the American Housing and

Any sales growth momentum in the real estate market we might have had early in the year is gone. New home sales contracts are coming in pretty consistently fewer than last year — 4.9% fewer in the most recent week. Our Immediate sales measure of homes that get listed, take offers and go into contrac

Home equity lending in 2023 grew by only 1.5% compared to the prior year, while outstanding debt increased by 8.3% in the same time period, according to a study released Monday by the Mortgage Bankers Association (MBA).The data includes total originations of open-ended home equity lines of credit (H

There are plenty of challenges for renters and homebuyers this year, especially when it comes to affordability. But technology — particularly leveraging generative AI — can help solve these challenges in new ways. At least, that was the premise of the FHFA’s 2024 TechSprint last week, which focused

The rising supply of homes for sale has yet to put a serious dent in affordability concerns, but it might be starting to.That’s according to First American’s monthly Real House Price Index, which shows a national price decline of 1.3% from May to June. The index measures nominal home prices and adju

Warmer summer weather has brought cooler housing market conditions to Montana.“The market right now just feels like it’s a bit lukewarm,” said Brian Huskey, a Billings, Montana-based ERA American Real Estate agent. “There is still moderated demand from buyers, but there are a lot of people just sitt

Mortgage lenders loanDepot and Movement Mortgage have agreed to end a one-year dispute over the poaching of employees, according to a document filed Friday in a district court in Delaware.  In June 2023, California-based loanDepot accused its competitor of damaging its business by hiring more than 2

The mortgage world is fast-paced and constantly evolving, driven by shifts in laws and economic conditions. Both lenders and borrowers need to grasp these changes to skillfully move through the maze of mortgage regulations. This guide will walk you through the need-to-knows, helping you thrive in to

One of my critical forecasts for 2024 was the growth of new listings data and active inventory, even with higher mortgage rates. However, the new listings data has slightly disappointed me. Many of my CNBC interviews, starting from late last year and just last week, have been on this theme, and new

If handled correctly, selling your home to a family member can be a good way to help a loved one save money on a home and build wealth. However, an off-market transaction between family members requires careful planning and transparent communication to avoid misunderstandings and ensure a seamless p

Coinciding with the effective date for a previously announced reverse stock split, the price for shares of leading reverse mortgage lender Finance of America (FOA) stood well above the minimum threshold the New York Stock Exchange (NYSE) requires to maintain trading activity.As of the close of tradi

The bipartisan duo that leads the U.S. Senate Special Committee on Aging — Sens. Bob Casey, D-Penn., and Mike Braun, R-Ind. — introduced a bill this week that is designed to make it easier for U.S. seniors to qualify for the Program of All-Inclusive Care for the Elderly (PACE) program.The program, w

The HousingWire Pulse Survey for Q3 2024 provides a detailed snapshot of current housing market sentiments and challenges faced by real estate agents, brokers, and mortgage professionals. The survey reveals a generally cautious optimism among these sectors, despite varied expectations regarding mark

The U.S. Senate appropriations committee this week approved full funding for the fiscal year 2025 Transportation, Housing and Urban Development, and Related Agencies Appropriations Act (T-HUD), which provides $98.737 billion in total discretionary funding for agencies including Ginnie Mae.The commit