Short sales sold at a smaller discount than foreclosures starting in January, the first time that’s happened since Realtor.com began tracking these valuations in 2018. Distressed homes earned about 9% more of their estimated value as a short sale than as a foreclosure. Processing Content Foreclosed homes have sold in a fairly steady range, 25%-30% […]
Short sales yield 9% more than foreclosures now Read More »
Mortgage rates reached their highest level since the end of August, following a week of heightened uncertainty over the Iran conflict, slightly moderated by positive news on inflation. Processing Content The 30-year fixed rate mortgage increased by 6 basis points to 6.55% as of July 16 from 6.49% one week prior, the Freddie Mac Primary
Should lenders prepare for mortgage rates moving even higher? Read More »
Andrew Harrer/Bloomberg Processing Content Key insight: A long-time Illinois banker has been banned from the industry for approving mortgages based on faulty appraisals. Expert quote: Burns “ignored inconsistencies and irregularities in the appraisals that should have called into question their accuracy.” —Federal Reserve enforcement action. Forward look: The prohibition order against Burns is indefinite and
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