Choose your path
A shortage of residential appraisers could create a situation where, in the next 5-10 years, lenders won’t be able to have their volume of home appraisals sufficiently handled, National Mortgage News reported May 20. The result could be higher appraisal fees and longer closing times. (Log-in required)
Single-family mortgage seller/servicers that want to continue doing business with Fannie Mae and Freddie Mac will have to comply with new operational and financial requirements, including a minimum net worth of $2.5 million, the Federal Housing Finance Agency reported May 19.
Low mortgage rates helped keep homebuyer affordability high during the first quarter, but housing markets likely will see increased volatility for the remainder of the year as market participants try to determine the Federal Reserve's timing on short-term interest rate increases, Freddie Mac reported May 19.
Average fixed mortgage rates during the past week were little changed amid positive housing news, moving lower by .01 percent following three consecutive weeks of increases, Freddie Mac reported May 21 in its Primary Mortgage Market Survey.
The U.S. Census Bureau’s County Business Patterns study, which analyzes post-recession employment data, showed that employment is lower in major metro areas than in newer suburbs, which have seen a 25 percent increase in jobs, New Geography reported May 13.
One of the best home-selling seasons in recent years is underway, according to Wall Street firms, but they noted that such factors as student loan debt and rental trends mean the market has not yet returned to normal, MBA NewsLink reported May 20.
An increase in luxury units with rents in the top 20 percent of the market are taking a big bite out of the rental market and leaving middle- and low-income renters with fewer housing options, The Wall Street Journal reported May 20. (Log-in required)
The commercial real estate market continues its “remarkable” recovery with prices and deal volume rising and cap rates compressing, according to online marketplace Auction.com, MBA NewsLink reported May 21.
Industrial property construction increased nearly 16 percent compared to the same point last year, with the momentum spilling into Canadian markets as both countries position themselves to take advantage of the next phase of recovery by delivering modern distribution and warehouse facilities, MBA NewsLink reported May 21.
The Appraisal Institute announced May 27 that it attended several high-profile events throughout the month, which helped the organization enhance its role as the valuation profession’s thought leader.
Pop up content here.