Real Estate Marketing & Beyond

Home inventory grows as more listings come onto the market

By Mike Wheatley | July 2, 2022

tiny home

San Jose announces tiny homes initiative to house city's homeless

By Mike Wheatley | June 30, 2022

San Jose’s city council has approved a number of new “tiny home villages” that will provide housing for homeless residents of the city, but it’s expecting to face a backlash from worried neighbors who oppose the projects. The councilors voted 8-2 to move forward with plans to build six sites, which include two existing projects […]

JPMorganChase cuts hundreds of mortgage staff as business dwindles

By Mike Wheatley | June 28, 2022

JPMorganChase has said it’s cutting jobs in its mortgage lending business amid tightening monetary policy that has seen mortgage rates pushed above 6%. The nation’s biggest bank said last week that the decision was the result of “cyclical changes” in the mortgage market. “We were able to proactively move many impacted employees to new roles […]

Pending home sales rose in May, but economists say it's just a blip

By Mike Wheatley | June 28, 2022

Pending home sales increased in May, breaking a streak of six successive monthly declines, but the National Association of Realtors said it is likely a blip and that sales will continue to fall as the year progresses. The NAR’s latest data shows that contract signings, which are a forward indicator of home sales based on […]

Housing, Mortgage, Real Estate

Mortgage applications rise amid strong demand for ARMs

By Mike Wheatley | June 24, 2022

Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association. However, applications are still down 10% compared to one week ago. The MBA said that last week’s jump in mortgage rates may have actually increased homebuying demand, as consumers […]

Home affordability crumbles, causing demand to finally pull back

By Mike Wheatley | June 24, 2022

Ballooning mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007. Demand for homes has pulled back in response, easing price growth, slowing sales and boosting inventory, according to the latest market report from Zillow. Mortgage rates shot up in early June, averaging […]

Existing home sales fell in May as rising rents and low supply weigh on affordability

By Mike Wheatley | June 22, 2022

Existing home sales declined again in May, falling by 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to new data from the National Association of Realtors. On a yearly basis, existing home sales were down 8.6% compared to May 2021. The NAR said the market is now at its weakest reading […]

Notarize makes a quarter of its staff redundant

By Mike Wheatley | June 19, 2022

Just days after two of the industry’s biggest online brokers announced job cuts, the remote online notarization firm Notarize has gone and laid off workers too. The announcement came directly from Notarize Chief Executive Pat Kinsel, who revealed on Twitter that the company had laid off 25% of its workforce. It is the second time […]

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