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Google brings real estate listings back to mobile search

After disappearing for a time after the launch of the initial test last December, real estate listings are back in mobile Google search results in some markets.  Just like the initial test, listings appear under sponsored search results, and they include a full property detail page, links to request a tour, contact an agent and, in some markets, a map of all available listings. The launch markets...

FHA turns attention to the ‘flipping rule’ and AVMs

The Federal Housing Administration (FHA) would like to review its anti-flipping rule and reforms to automated valuation models (AVMs), according to Matt Jones, deputy assistant secretary for the FHA’s Office of Single-Family Housing. “We think our AVM, our valuation technology, has improved significantly since that rule was put in place a couple decades ago,” Jones said. “We’d like to take a...

Ginnie Mae’s Joseph Gormley sounds the alarm on ‘risk-layered’ FHA portfolios

Ginnie Mae President Joseph Gormley, who is also serving as acting commissioner of the Federal Housing Administration (FHA), said the counterparties participating in Ginnie Mae’s program have evolved significantly since the Great Financial Crisis, with greater exposure to independent mortgage banks (IMBs) that have invested heavily in governance and risk management. Still, he cautioned that some...

Greater Palm Beach Area Residential Market Extends Recovery in April

Cash Buyers Propel Sales Amid Tighter Supply Palm Beach County's housing market posted another month of gains in April, with home sales rising for the eighth straight month as affluent cash purchasers, severely constrained inventory and ongoing migration into South Florida sustained prices despite persistently high mortgage rates. Total residential closings in the county climbed 4.7% from a year earlier...

Mortgage rates are at yearly highs, but housing demand is still positive

Mortgage rates and the 10-year yield both hit yearly highs after the Friday massacre in the bond market, as we didn’t get any positive news on ending the conflict in Iran. Even with all that, our weekly pending home sales data is still positive year over year, for now. The weekly mortgage purchase application data was positive year-over-year and week-over-week. However, when mortgage rates rise above...

How loan officers are saving deals as mortgage rates cross 6.6%

Loan officers are shifting their playbooks to keep deals alive as mortgage rates climb north of 6.6%. Originators are encouraging borrowers to ask for more seller credits, recalibrate their home search criteria and rush to close deals as quickly as possible. Rates for 30-year fixed mortgages reached 6.62% on Friday afternoon, up 5 basis points from the prior day, according to Mortgage News Daily. At...

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