Category Archives: Mortgage & Real Estate

FHFA report shows mortgage rates increasing as year ends

The most recent data from Freddie Mac showed that mortgage rates have been trending up over the last few weeks, nearly surpassing 4% in the last week of the year.

In fact, the most recent Freddie Mac report showed that interest rates rose to five-month high during the week ending Dec. 29, 2017.

A new trailing index report from the Federal Housing Finance Agency backs up the Freddie Mac data and shows that interest rates are indeed on the rise as 2017 ends.

The FHFA report, released this week, shows that interest rates on conventional purchase mortgages increased from October to November.

According to the report, the “National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index” checked in at 4.05% for loans closed in late November, up 7 basis points from 3.98% in October.

The FHFA report also showed that the average interest rate on all mortgage loans rose above 4% in November, climbing to 4.03%, up 6 basis points from 3.97% in October.

Additionally, the report showed that the average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.17% in November, up 6 basis points from 4.11% in October.

In November, the average loan amount for all loans was $307,800, up $300 from $307,500 in October.

(Click to enlarge)

Article source: https://www.housingwire.com/articles/42173-fhfa-report-shows-mortgage-rates-increasing-as-year-ends

The Money Source adds Kirstin McMullen as chief financial officer

Growing financial services company The Money Source announced recently that it is adding Kirstin McMullen as the company’s new chief financial officer.

In this role, McMullen will help to oversee The Money Source’s expansion plans, as the company is seeking rapid growth on multiple fronts, including mortgage servicing, correspondent lending, wholesale lending, and retail lending.

McMullen brings more than 25 years of experience to her new role.

Before joining The Money Source, McMullen served as the chief financial officer for Computershare Loan Services, where she managed finance and accounting for the company’s various mortgage-related products.

Earlier in her career, McMullen held executive-level positions at Real Mortgage Systems and Rosemont Realty.

“The Money Source is committed to hiring the best talent in the industry,” said Darius Mirshahzadeh, CEO of The Money Source.

“Kirstin is a remarkable financial mind, possesses true leadership skills and has an impressive track record of accomplishing industry-leading results at scale,” Mirshahzadeh added. “We’re pleased to have her join our leadership team as we build TMS into the most loved fintech brand in the nation.”

McMullen said that she is excited to join TMS as it grows.

“I am excited to join a growing company with true employee engagement at all levels, creating an energy special to TMS,” McMullen said. “I hope to help TMS evolve into a fintech company of the future for years to come.”

Article source: https://www.housingwire.com/articles/42174-the-money-source-adds-kirstin-mcmullen-as-chief-financial-officer

The role of a healthy marketplace in real estate sales

SPONSORED CONTENT

More and more, buyers and sellers are recognizing the value of consumer-facing technology in the real estate market. With these tools, buyers are gaining unprecedented levels of intelligence when looking into properties for sale, while sellers are better understanding what buyers are willing to bid on.

However, not all real estate marketplaces are the same. Marketplaces such as Auction.com, which is the largest in the market in terms of the number of registered users and assets listed, can accommodate the specific needs of buyers and sellers while also promoting an active, engaged market in which all parties find success.

Investing in a healthy marketplace

The core of any real estate marketplace is the ability to provide an accurate read on pricing paired with the ability to efficiently support the selling of real estate in any market condition. Yet, many marketplaces are unable to achieve this.

A healthy marketplace, such as Auction.com, will consist of buyers who continually find attractive opportunities, sellers that receive market prices and qualified bids early and often, and the process of transferring ownership through the marketplace will be effective and risk-free.

Auction.com invests heavily into technology that operates within changing market conditions, but more importantly, consists of over 1,000 knowledgeable and experienced professionals throughout the United States that understand the real estate industry and how to maximum the tools at hand to provide the best disposition strategies.

This team is made of both in-house professionals and on-the-ground partnerships, such as local sheriffs and real estate professionals, to provide solutions to some of real estate’s most complex challenges. These relationships help accurately — and quickly — process assets through the system, from the onboarding of an asset onto to the platform to the successful closing of sale while ensuring all seller and legal requirements are met.

Transparency in a healthy marketplace

While buyers and sellers have unique individual needs, both parties require greater levels of transparency and access to market intelligence and information relating to individual properties. Auction.com’s marketplace enables buyers to gain access to information specific to a property’s condition, the neighborhood it’s located in, and, if it’s inhabited, the tenants themselves.

This level of insight enables buyers to make more informed decisions about which properties to bid on and how to best leverage the asset should they win. In doing so, buyers gain confidence to bid early and bid often, helping ensure the health of the marketplace.

On the seller side, increased transparency takes the form of providing greater insight into buyer interest on a particular property. A seller’s ultimate goal is to sell the asset quickly, efficiently and profitably, resulting in the best outcome on the investment. To achieve this, Auction.com’s client management team helps sellers gain a better understanding of the types of properties buyers are looking to bid on, how much buyers are willing to pay and the length of time comparable assets tend to remain on the market through leveraging proprietary data analytics.

With these resources, Auction.com helps sellers more confidently manage their disposition portfolios through the marketplace.

Healthy marketplaces foster continuous improvement
 

A healthy, successful marketplace also requires a culture that fosters continuous improvement. The market changes rapidly and buyers and sellers often lack the time and resources to keep up-to-date on every facet of change. This is why Auction.com employs a team of experienced and dedicated industry professionals with proven industry expertise to lead this charge and support the needs of buyers and sellers.

Additionally, healthy marketplaces should be scalable, with the capacity to support increased levels of demand from an increasing population of both buyers and sellers.

Technology, experienced staff and the ability to understand the market are at the foundation of a healthy real estate marketplace. These elements work together to form the best experience for buyers and sellers alike. Truly healthy marketplaces are those in which buyers and sellers are continually able to find success —ones that help sellers sell of properties more quickly and profitably, while enabling buyers to gain unprecedented access to market insight and property information in multiple counties and states without the requirement of physically being present.

Ultimately, a healthy marketplace enables more qualified buyers to compete in a way that aligns with both seller and buyer objectives, creating an environment where both parties thrive and achieve success at the end of the process.

 

Article source: https://www.housingwire.com/articles/42175-the-role-of-a-healthy-marketplace-in-real-estate-sales

Bunk Beds