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Annual Existing-Home Sales Hit Highest Mark Since 2006
Existing-home sales declined in December, snapping a streak of three straight months of gains, according to the National Association of Realtors®. Each of the four major U.S. regions witnessed sales fall in December from both a month-over-month and a year-over-year basis. Despite the drop, overall sales for 2021 increased 8.5%.
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December New Home Purchase Mortgage Applications Decreased 7.1 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2021 shows mortgage applications for new home purchases decreased 7.1 percent compared from a year ago. Compared to November 2021, applications decreased by 5 percent.
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New Appraisal Institute Dictionary Updated to Advance Appraisers' Knowledge
“The Dictionary of Real Estate Appraisal,” seventh edition, published this week by the Appraisal Institute, is a landmark text that reflects the depth and breadth of appraisal knowledge. Each entry, definition and reference has been painstakingly researched and designed to express an expert understanding of issues that currently impact the profession.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 2.3 percent from one week earlier,according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending January 14, 2022.
Single-Family Starts Post Double-Digit Percentage Gain in 2021
While single-family starts dipped in December due to ongoing supply-side challenges, they still managed to post double-digit gains in 2021. Overall housing starts increased 1.4% in December to a seasonally adjusted annual rate of 1.70 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Share of Mortgage Loans in Forbearance Decreases to 1.41 Percent in December 2021
The Mortgage Bankers Association's (MBA) new monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 26 basis points from 1.67% of servicers' portfolio volume in the prior month to 1.41% as of December 31, 2021. According to MBA's estimate, 705,000 homeowners are in forbearance plans.
Builder Confidence Edges Lower on Inflation Concerns
Growing inflation concerns and ongoing supply chain disruptions snapped a four-month rise in builder sentiment even as consumer demand remains robust. Builder confidence in the market for newly built single-family homes moved one point lower to 83 in January, according to the National Association of Home Builders/Wells Fargo Housing Market Index released today.
DataTrace Leverages AI to Add Over 1,000 New Title Plants to Industry-Leading Footprint to Support Growth in Automated Title Production
DataTrace Information Services LLC, the nation’s largest provider of data and automation solutions to the title and settlement services industry, announced today the addition of over 1,000 new geographic title plants across the United States, increasing the company’s total number of title plants to more than 1,600, covering 80% of the U.S. population.
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Atlanta woman warning others after she says her deed was stolen and home torn down
An Atlanta woman wants to warn homeowners after she says someone stole her deed. She told Channel 2 investigative reporter Ashli Lincoln that she had no idea this had happened until her home was torn down. Linda Willis says her home in Old Fourth Ward was targeted by strangers because of the prime location of where her home once stood on Ralph McGill Blvd.

Bad news for first-time buyers: Mortgage rates rise to pandemic-era high
For home buyers, this means that the monthly mortgage bill will be significantly higher than it was a year ago. According to an analysis from Realtor.com, at today's rates buyers can expect to pay $238 more per month on their mortgage than they would have if they had bought property at this time in 2021. That adds up to nearly $3,000 more per year, on account of the higher interest rate.

Mortgage rates just spiked the most in 9 years-and that should slow down home price growth
Fed Chair Jerome Powell made it clear while speaking to Congress earlier this month that taming stubbornly high inflation will require the U.S. central bank to both halt its asset purchase programs and raise rates multiple times in 2022.

Mortgage delinquency rate reaches prepandemic levels
Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline during 2022. In October, 3.8% of mortgages were delinquent by at least 30 days, including foreclosure, close to the 3.7% rate registered in the same period of 2019. In October of 2020, the delinquency rate was at 6.1%.

Millennial Demand Continues to Fuel Housing Market, According to First American Potential Home Sales Model
The strength of the housing market is not surprising given the ongoing wave of millennial demand propelled by historically low rates and greater geographic flexibility due to work-from-home arrangements," said Fleming. "Yet, home buyers face a historic and worsening housing supply shortage - you can't buy what's not for sale."

How long does a title search take?
There is one common element to all real estate purchases. It would be best to make sure that the property you are interested in has a clear title. As obvious as this step seems, many seem to ignore it. However, always keep in mind that problems with the property titles generate most issues experienced during real estate transactions. Taking this home buying step seriously is critical.

Feds seek to enlist real estate agents in anti-corruption push
FinCEN's proposed regulation, outlined in an "advanced notice of proposed rulemaking" published in the Federal Register, seeks to create general recordkeeping and reporting mandates - now authorized under the Bank Secrecy Act - for persons involved in all-cash real estate transactions. FinCEN is a law enforcement arm of the U.S. Treasury Department charged with safeguarding the nation's financial system against illicit activities, such as money laundering.

Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
A title insurance company co-founder and his wife bought a waterfront Miami Beach house that spec home developer Barry Brodsky flipped for $15.3 million.

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