Following a post-summer slowdown, homebuyers across the nation put a little more force on the accelerator in November. According to a recent report from Redfin, 27.2 percent of homes in 23 metros across the United States went under contract within two weeks of listing during the month of November. Despite being frustrated with a lack of selection, homebuyers are ready to move quickly when they find a home they like, the company says.
Read More »RIO Software Solutions Opens Free Online ‘Broker School’
RIO Software Solutions, the parent company of RIO Genesis Software system, has unveiled a new free online education series called """"Broker School."""" It offers lessons on how to open, grow, and manage a profitable real estate office, with topics ranging from basic operational fundamentals to lead management and agent recruitment.
Read More »Nation’s No. 3 Credit Union Adopts Mortgage Harmony’s ‘Rate Reset’
Mortgage Harmony Corp., the provider of Loan Retention Software (LRS) and the HarmonyLoan product, announced that its Rate Reset Protection software has been added to online applications on select mortgage products from Pentagon Federal Credit Union (PenFed), the country's third largest credit union.
Read More »Banks’ Quarterly Earnings Expected to Disappoint
Bank stocks were reportedly up in Q4 2013, but under current market conditions, the investment firm FBR Capital Markets doubts most banks will live up to the hype when quarterly earnings are reported. FBR says weak loan growth and margin pressures will likely drive down mortgage banking results. Based on secondary market observations, the firm estimates last quarter's mortgage activity to be down nearly 50 percent year-over-year.
Read More »GSE Forecasts ‘Continued but Measured Housing Recovery’ in 2014
Fannie Mae's forecast shows a mostly optimistic view of the coming year. The GSE expects the housing sector to double its contribution to overall GDP growth in 2014, which is predicted to come in at 2.9 percent. The 2014 forecast accounts for three key drivers: an acceleration in spending activity from the private sector, waning fiscal drag from the government, and the housing market's ongoing recovery.
Read More »Fed’s Beige Book Details Improvements in Regional Real Estate Markets
The Federal Reserve's 12 regional districts reported moderate economic expansion across most of the country during the final weeks of last year. What's more, indicators point to more steady growth ahead and widespread improvements in local real estate markets. According to the Fed, most districts saw increasing home sales, home prices, and construction activity. Some district contacts reported relaxed lending standards amid growing competition for credit.
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