Mortgage applications ground to a halt for the week ending Sept. 29, falling 6% from the week prior as mortgage rates jumped to a 23-year high of 7.53%, according to…
Category: Real Estate
Why are mortgage rates surging?
This statement from the Fed is classic Fed at work. The Fed has not helped its own cause here, as Austan Goolsbee, president and CEO of the Federal Reserve Bank…
DOJ announces $9M settlement with Washington Trust Company in redlining case
Rhode Island-based chartered bank Washington Trust Company has agreed to pay $9 million to settle a redlining case with the U.S. Department of Justice (DOJ), the parties announced Wednesday. The agreement requires court approval. Washington…
Housing Market Tracker: Good Week for Inventory
A modest increase in home inventory this year has made the existing home sales market seriously unhealthy again. But last week was good. Inventory growth was not as high as…
Keller-Williams mega-team Rivian hires former side exec John Boehler as president
Rivian, Vermont-based mega team Keller Williams, a new president was born. Rivian said in a statement that former side boss John Boehler had taken over from Monday. Boller is responsible…
Why are home builders so happy?
In 2022, housing demand collapsed, and homebuilder confidence surveys collapsed in a cascade similar to that seen during Covid-19 and the Great Financial Crisis. But something changed towards the end…
Percentage of mortgages on moratorium fell in June
According to financial institutions, the proportion of mortgages in repayment fell by 5 basis points from 0.49% to 0.44% in June 2023 compared to May 2023. Mortgage Bankers Association(MBA) Monthly…
Seattle area residents lost tens of billions of wealth to racist housing policies: report
Colored-headed households in King County, Washington (where Seattle is located) have lost an estimated $12 billion to $34 billion in wealth since 1950 due to racist housing policies. That’s according…
Anaid Chacón Joins Argyle as Senior Vice President of Products
ArgyleAnnounced the appointment of Anaid Chacón, a startup in the digital income and proof of employment industry, as Senior Vice President of Products. Chacón brings more than a decade of…
Purchase offers are increasing but remain at very low levels
Mortgage applications rose slightly as mortgage rates peaked in 2023, but were still very low last week. Data from the Times showed that mortgage applications rose 0.9% in the week…