Homebuyer Activity Picks Up Pace in Mid-September U.S. mortgage rates tumbled this week, posting their largest weekly decline in more than a year and providing a boost to prospective homebuyers. According to Freddie Mac's latest Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage fell to 6.35%, down from 6.50% the previous week, marking the most significant single-week drop since at...

Griffin Funding has launched an internal artificial intelligence-driven platform designed to help loan officers navigate the complex world of non-QM lending. The tool, known internally as “LIA,” pulls hundreds of pages of program guidelines into a single system and uses AI to deliver tailored answers to loan qualification questions, according to Chloe Shubin, vice president of strategy for Griffin...

U.S. real estate investors bought about 52,000 homes in the second quarter, the lowest level for that period since 2020, according to a report from Redfin. Purchases were down 6% from a year earlier — the largest drop since late 2023. Redfin, which analyzed purchase records across 39 major metropolitan areas, defines an investor as any institution or business buying residential property, covering...

Recent efforts to cut down on vacant residential properties in Baltimore have proven to be effective, according to new Urban Institute data. By 2020, the city had more than 16,000 vacant buildings and a residential vacancy rate of 7.7%. In parts of east and west Baltimore, the rate was nearly one in three houses. “Vacancy not only blighted the city but also imposed upwards of $210 million in...

Christie’s International Real Estate has appointed G. Scott Hurlock as senior vice president of strategic growth, a new role at the company. Hurlock will oversee network expansion for the luxury real estate brand by pursuing new partnerships and working with affiliates on organic growth, mergers and acquisitions. “Scott comes to us with an incredibly impressive track record, deep industry...

A bill on Texas Gov. Greg Abbott’s desk could give county clerks new tools to combat deed fraud, but one industry expert says the measure doesn’t go far enough to protect against scams carried out online. Senate Bill 15 — approved by the Texas Legislature in August — would require clerks to ask for identification when property transactions are filed in person. It also imposes stiffer...

Forget cookie-cutter houses — this $4.5 million Cleveland compound is a full-blown countryside village with three residences and 27 acres of land. A true one-of-a-kind property, the 27-acre compound in Waite Hill (a charming rural suburb of Cleveland) has just hit the market for $4.5 million, bringing with it three distinct dwellings, a barn-turned-blacksmith shop, a private squash court, and enough...

Versailles on 57th Street? This Sutton Place duplex comes close. With 18-foot ceilings, marble fireplaces, and a 27-foot-square living room that feels straight out of a palace, this home has all the grandeur of Old World Europe — in prime Manhattan. Owned by author and fashion designer Carolyne Roehm, the duplex takes up the 12th and 13th floors of a historic 1929 limestone building. It’s a...

This California couple with two teenagers love to cook and bake, but the traditional kitchen in their 2009 luxury spec home didn’t support their lifestyle. Short dark cabinets, a bulky island without seating, an awkward corner pantry and an overall gloomy feel made the space less than...

Image Stacey McEvoy notes that REIT capital raising is a positive sign for activity...