According to new data from Verisk, the cost of home repairs and remodeling in Q3 2023 jumped year-over-year, as the costs of materials used in home repairs continue to rise.
Most Recent Articles
Number of Cities with Million-Dollar Starter Homes Nearly Triples Since 2019
"Home buyers are battling affordability and availability today. So much so that $1 million is the norm for a starter home in hundreds of cities," said Orphe Divounguy, a Senior Economist at...
National Median Mortgage Payments Drop
For the second consecutive month, homebuyer affordability conditions improved. A new MBA report breaks down the factors that led to this rise in purchasing power. The post National Median Mortgage...
South and Midwest Rank Highest for Rental Affordability
In light of the current surge in the number of prospective tenants, a new Realtor.com report titled “Top 10 Markets for Renters” indicates that cities in the Midwest and South rank highest for...
Fannie Mae: Tangled Titles Posing Challenges for Homeowners
In 2018, Fannie Mae‘s Disaster Recovery and Resilience team, together with their housing counselor partners, responded to Hurricane Maria in Puerto Rico by assisting homeowners in obtaining FEMA...
U.S. Housing Market Stability: Foreclosure Trends
While owning a home remains challenging—and those facing foreclosure are certainly encountering serious difficulties—a new report finds that the majority of homeowners are maintaining a relatively...
Schneiderman & Sherman Adds New Associate Attorney
Indra Pandiyaraj brings a wealth of real estate and legal experience to the firm where she will be responsible for providing strategic advice and counsel to both clients and staff on...
Flagstar Welcomes Nine New Execs
Bringing a blend of financial, commercial, private banking, IT, credit, and regulatory pedigree to Flagstar, the company adds nine new execs to enhance oversight of core businesses and...
Spotlight on Q2 2024 Commercial Property Mortgage Delinquency Rates
"The delinquency rate for most property types declined last quarter, with the exception of loans backed by office properties, which experienced an increase,” said Jamie Woodwell, MBA's Head of...
Luxury Home Prices Reach All-Time High
Redfin reports that in Q2, luxury home prices grew more than twice as fast as non-luxury homes, a market that was impacted little by rising rates and driven by international cash buyers. The post...
Q2 Profit Margins Improve as Home Sales Tick Up
According to ATTOM’s second-quarter 2024 U.S. Home Sales Report, typical single-family home and condo sales in the U.S. during Q2 yielded a profit margin of 55.8% for home sellers. This number...
Mr. Cooper Acquires Flagstar’s Servicing Business
The acquisition of Flagstar’s mortgage operations for approximately $1.4 billion by Mr. Cooper consists of MSRs, advances, subservicing contracts, and a third-party origination platform. The post...
Customer Satisfaction With Mortgage Servicers Improves
Mortgage servicers have improved overall client satisfaction this year by effectively overcoming the challenges of continuously high interest rates and financial instability, but there are still...
Easing Housing’s “Lock-In” Effect
“The hopes for lower interest rates need the reality check that 'lower' doesn't mean we're going back to 3% mortgage rates [again],” says Greg McBride, CFA, the Chief Financial Analyst for...
Home Insurance Premiums Surge as Buyers Adapt to Market Conditions
Matic has published its mid-year premium trends study, which examines trends in homeownership from 2024’s first half. The report highlights significant challenges faced by homeowners, mortgage...
Renting, But at What Cost?
In practically every significant U.S. metro region, average rents have reached all-time highs within the last five years. If rent increases continue at the current rate, the majority of major...
Fannie Mae Honored for Disability Inclusion
The GSE earns a top score from Disability:IN for the fifth consecutive year by empowering employees and ensuring the inclusion of individuals with disabilities. The post Fannie Mae Honored for...
Report: Houses Gathering Dust on Market as Unsold Inventory Grows
June was the fourth straight month in which the portion of homes sitting on the market for at least one month ticked up on a year-over-year basis. Less-desirable listings are sitting on the...
Flipping Homes Does Not Mean a Complete Remodel
Flipping a home does not necessarily mean gutting and demolition of the property—there are a number of relatively easy and affordable projects one can do that will boost the value of the home. The...
Existing Sales Drop as Median Home Price Jumps to Record High
According to the National Association of REALTORS, existing-home sales decreased in June while the median sales price increased to the highest amount ever recorded for the second consecutive...
After Nearly Two Years, Forbearance Volumes Rise
For the first time October 2022, the MBA reports that the number of loans in forbearance increased in June, as an uptick in severe weather events hit multiple regions of the country, and impacted...