Sales of Large Homes Skyrocket as Homeowners Seek More Space

Homebuyers who are juggling work and school from their home want more space, triggering an increase in the number of sales of large homes. According to Redfin, sales for large homes were up 21.2% year over year nationwide in July, compared to a 10% increase for medium-sized homes and a 2.3% increase for small homes. Redfin […]

Fannie & Freddie: Borrowers and Servicers Have Options as Natural Disasters Rage On

As the nation grapples with the effects of an ongoing pandemic, Mother Nature has shown little mercy as wildfires have been burning in parts of Northern California since last week and residents of the Gulf Coast face evacuation orders with Category 4 Hurricane Laura making its debut. Last year, the National Oceanic and Atmospheric Administration said there were at […]

Growing a Housing Startup During a Pandemic and Recession

In January, our team at Knox Financial felt like we had the wind at our backs. Knox was approaching its first full year in business, and every month more homeowners and landlords were putting their properties onto our platform that makes investment property ownership a hands-off experience. We were also just named Boston’s most promising new startup, […]

TransUnion: Consumer Credit Delinquencies Level off in July

For the first time since March, the total percentage of accounts in “financial hardship” for auto, credit card, mortgage and personal loans fell across the board in July, according to a consumer credit snapshot by TransUnion. In particular, the percentage of accounts with mortgage loans in financial hardship declined from 6.79% in June to 6.15% in […]

DataTrace Launches Market Insight Platform for Title Companies

DataTrace Information Services announced on Thursday its launch of MarketView – a platform that will provide title companies with accurate market insights including existing market share. Title companies will have the ability to search market data nationwide by state, county, city and ZIP code as well as timeframe and transaction type, the release said. The platform […]

U.S. Mortgage Rates Rise on Risk Assessment

Average U.S. mortgage rates for a 30-year fixed mortgage rose to 2.99% this week from 2.96% last week, Freddie Mac said in a report on Thursday. The average 15-year rate rose to 2.54% from 2.46%, according to the mortgage financier. The upward moves come after the Federal Housing Finance Agency approved a new “adverse market” fee for refinancings to compensate Fannie Mae and Freddie Mac for the additional […]

Mid-August Rent Payments Tick Up to Near-Normal Levels

The National Multifamily Housing Council‘s Rent Payment Tracker reports that 86.9% of renting households had paid rent as of Aug. 13, a significant increase from Aug. 6, when just 79.3% had made rent payments. Year over year, this is just 2% less than rent payments collected Aug. 13, 2019. RealPage said that although the gradual increase in collections over the course […]

Housing Starts Report Confirms Housing Market Recovery

The Census report on new construction showed a whopping 22.6% increase above the revised June estimate in housing starts in July. Year-over-year starts are up 23.4%. This means we can add housing starts to our growing collection of V-shaped recovery charts for the 2020 housing market. From the report: Privately-owned housing starts in July were at a […]