DIY projects to increase your home value

In the past year, there’s been an upturn in home improvement projects. According to a survey completed by Bid-On-Equipment, 89% of American homeowners made some sort of improvement to their homes during the pandemic. 58% of those individuals did the work themselves. With so many American’s spending time at home, this really shouldn’t come as…

What a dismal jobs report means for the housing market

April was supposed to be the month that proved America’s economy had definitively kicked back into full gear. After all, roughly one million jobs were added in March, roughly 40% of the population had achieved vaccination, and key sectors of the economy planned large-scale reopenings. Instead, the U.S. Labor Department reported that a mere 266,000…

Home Point Capital reports decrease in 1Q revenue

Home Point Capital reported $29 billion in origination volume in the first quarter of 2021 and a net income of $149 million, per the company’s earnings report. That origination volume is a 260% increase year over year, said Willie Newman, CEO and president of Home Point Capital, parent company of wholesale lender Homepoint, and up 23% over…

Fannie Mae: Consumers still wary of housing market

Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, decreased by 2.7 points to 79 in April 2021 after four of the survey’s six components decreased month over month. Notable was the drop in sentiment towards homebuying conditions, which…

The past, present and future of real estate commissions

The following Q&A comes from the HW+ exclusive Slack channel, where HousingWire Senior Real Estate Reporter Matthew Blake answered questions about his three-part HW+ series on the past, present, and future of real estate commissions. After talking to some of the biggest stakeholders in the industry about real estate commissions, he shares his findings and…

Bay Area team bolts Compass for Side

Another group of California agents has left Compass for Side, this time in the luxury, coastal environs of Marin County. OWN Marin, a veteran team of five agents, announced last week that they switched from the New York-headquartered brokerage to the San Francisco-based outfit. Created in 2004 by Barr Haney and Whitney Potter, OWN Marin…

Mortgage rates remain under 3% for third week in a row

For the third consecutive week, mortgage rates managed to remain under 3%, dropping three basis points last week to an average of 2.96%, according to Freddie Mac‘s PMMS. Despite consistent forecasts of a market with rising rates, the 30-year fixed rate mirrored more closely numbers borrowers saw back in February. Sam Khater, Freddie Mac’s chief…

Rocket Mortgage prepares for a slowdown

Rocket Mortgage originated more than $100 billion in mortgages for yet another quarter, but profit margins are trending down. And the country’s largest mortgage lender expects a good-sized slowdown in the second quarter of 2021. All told, the Detroit lending powerhouse originated $103.6 billion in closed loans in the first quarter of 2020, more than…