Housing is more affordable now—but not because of home prices. According to a new index, it’s low mortgage rates that are driving affordability upward for buyers.
Read More »Defect Risk Continues to Climb
Loan defects are on the rise—and have been for seven months running. Can you guess which state comes with the highest risk?
Read More »What Can Change Homeownership Rates?
According to a new study, there are several factors that will dictate the homeownership rates of tomorrow. But will those help or hurt?
Read More »Builder Confidence Shaky as Labor, Lot Shortages Continue
Home builders are plagued with labor and lot shortages, and it’s causing their confidence in the single-family market to waver, according to new data released this week. Overall, builder confidence in the single-family residential market has dropped by two points in June. Single-family production fell 3.9 percent for the month of May, while multifamily construction dropped 9.7 percent. Overall, housing starts declined 5.5 percent across the nation.
Read More »Defects on the Rise, Highest in North Dakota
Loan application defects are on the rise across the country, particularly in North Dakota, Montana, and Vermont. According to an expert economist, it’s riskier lending practices—both on purchases and refinances—that are to blame. McAllen, Texas, and Knoxville, Tennessee, came in the with highest frequency of defaults in terms of metro markets.
Read More »Affordability Dips Year-Over-Year
Real house prices have jumped significantly over the past year, rising more than 8 percent since January 2016. According to First American, these pricing jumps coupled with low inventory spell a seller’s market for spring. “Despite the monthly increase in affordability and continued strong wage growth, homes are less affordable across the country compared to a year ago,” said First American Chief Economist Mark Fleming.
Read More »First American Executive Awarded as ‘Valuation Visionary’
The Valuation Visionary award recognizes a standout collateral valuation professional every year who has demonstrated outstanding leadership, innovation and professionalism. Winners are nominated by their peers within the Collateral Risk Network. The recipient will be awarded at the Valuation Expo East on March 20, 2017, in Orlando, Florida.
Read More »PathSoftware and First American Mortgage Solutions Announce Integration
The integration gives lenders the assurance to originate compliant loans, which allows them to provide homebuyers with a faster loan approval and a better customer experience.
Read More »Wage Growth and the Affordability Crisis
Economists have cited gains in hourly wages as one of the keys to improving affordability in housing. Are wages finally starting to keep up with home price appreciation?
Read More »RedVision Acquired by First American
First American Financial Corporation announced it has signed an agreement to acquire New Jersey-based RedVision Systems, Inc.
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