Low mortgage rates and low inventory resulted in more bidding wars in July, Redfin says

As mortgage rates and housing inventory continue to hit record lows, potential homebuyers face an increasingly competitive environment. For the third consecutive month, Redfin said that more than half of its home offers faced competition in July. Last week, average U.S. mortgage rates for a 30-year fixed mortgage fell to an all-time low of 2.88%,…

People Movers: FundingShield, North American Title Company, Valligent Technologies, Garris Horn and Azimuth GRC

Patricia Suazo has joined FundingShield as its vice president of technology operations and integrations. Suazo has over 15 years of leadership experience in the mortgage lending space with firms including Stearns Lending, Bank of America, Carrington Holding Company and CloudVirga. Suazo specializes in software systems implementation, migrations, and integration, with experience in digital platforms and…

How did brokerage giants RE/MAX and Keller Williams fare in the second quarter?

Brokerage giants RE/MAX and Keller Williams announced second-quarter numbers Friday, reflecting a business environment that had its share of ups and downs as a result of COVID-19. RE/MAX, a public company, released earnings, while Keller Williams reported agent numbers and other stats. RE/MAX RE/MAX reported total revenue in Q2 of $52.2 million, with net income…

With 20% market share, independent mortgage brokers are competing directly with retail lenders

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: “Taking the Mortgage Boom to the Next Level.” Independent wholesale brokers on the webinar included Mike Kortas, CEO…

Fannie Mae survey confirms: It’s a seller’s market

After two consecutive months of advances, Fannie Mae’s Home Purchase Sentiment Index, a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, fell 2.3 points in July to 74.2. Year over year, the HPSI is down 19.5 points but still sits above April’s near-record low. According to the report, 53% of Americans now believe…

New York extends eviction moratorium again

New York Gov. Andrew Cuomo has extended the state’s eviction moratorium again, as many fear being kicked out of their homes after the federal eviction moratorium and unemployment benefits ended late last month. In March, the State of New York Unified Court System put in place the first eviction moratorium, effective through June. In May,…