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Redfin Report: May Real Estate Market the Fastest on Record; Prices Up 6.3%
The typical home that sold in May went under contract in 34 days, according to Redfin (www.redfin.com), the next-generation real estate brokerage. May broke April's record of 36 days, which was the fastest month Redfin had recorded going back to 2010. Amid the speed, the national median home sale price rose to $305,600, a 6.3 percent increase from May 2017 across the 174 markets that Redfin tracks.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 5.1 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 15, 2018.
Existing-Home Sales Backpedal, Decrease 0.4 Percent in May
Existing-home sales fell back for the second straight month in May, as only the Northeast region saw an uptick in activity, according to the National Association of Realtors®.
AccuSearch Company
Appraisal Institute Releases GuiAppraisal Institute Releases Guide to Residential Green Addendumde to Residential Green Addendum
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today released a guide to complete and use the organization’s “Residential Green and Energy Efficient Addendum.”
Housing Starts Reach Post-Recession High in May as Permits Soften
Total housing starts rose 5 percent in May to a seasonally adjusted annual rate of 1.35 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. This is the highest housing starts report since July 2007.
NAR Applauds Rule Making Realtors® Eligible to Participate in Association Health Plans
The U.S Department of Labor today finalized its rule to expand the definition of “employer” to include “working owners,” allowing real estate professionals and other self-employed individuals to participate in association health plans.
Builders Discuss Rising Lumber Prices with Commerce Secretary Ross
Randy Noel, chairman of the National Association of Home Builders (NAHB) and a custom home builder from LaPlace, La., issued the following statement after the NAHB leadership met today with Commerce Secretary Wilbur Ross to discuss the growing problem of escalating lumber prices that are being exacerbated by tariffs on Canadian lumber imports into the U.S.
FirstClose partners with Chicago Title Insurance Company to provide wider range of services to customers
FirstClose, a provider of technology solutions for mortgage lenders nationwide, today announced a partnership with Chicago Title Insurance Company.
May New Home Purchase Mortgage Applications Decreased 0.5 Percent Year over Year
The Mortgage Bankers Association Builder Application Survey (BAS) data for May 2018 shows mortgage applications for new home purchases decreased 0.5 percent compared to May 2017. Compared to April 2018, applications decreased by 4 percent.
Statement from NAHB Chairman Randy Noel on Congressional Lumber Letter
Randy Noel, chairman of the National Association of Home Builders and a custom home builder from LaPlace, La., today issued a statement on a congressional lettersigned by 171 members of Congress urging the Trump administration to restart lumber trade talks with Canada.
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Here's what is known about the surprising choice to lead the CFPB
In a surprising move, President Donald Trump over the weekend nominated Kathy Kraninger, a protégé of Office of Management and Budget director Mick Mulvaney, to lead the Consumer Financial Protection Bureau where Mulvaney is now acting director.

In May's red-hot housing market, homes sold in record time
If a "for sale" sign goes up in your neighborhood, don't blink, you might miss it. The average home sold in May went under contract in just 34 days, according to real estate brokerage Redfin.

The 0.25% Fed Rate Increase Doesn't Mean Mortgage Rates Will Increase 0.25%
Just because the Fed rate went up 0.25% doesn't mean the 30-year fixed-rate mortgage rate will go up 0.25%.

Higher home, mortgage prices mean first-time buyers are paying 19 percent more each month
Nationwide home prices are almost 7 percent higher than a year ago. And the average long-term mortgage cost has risen by seven tenths of a percentage point interest compared with this time in 2017, according to CoreLogic.

'I Backed Out of Buying My Dream Home'-and You Won't Believe Why
"Apparently, no one else had bothered to get a survey, so this only came up when we decided to do one just to be safe," she says. "We couldn't get title insurance unless the entire neighborhood went through an entire resubdivision, which could take years!"

Hammond likely victor in deeds Democratic primary
A long time title researcher, Hammond is senior title insurance underwriter and closer at Atlantic Coast Title, LLC and has worked for the company for more than three decades.

Two Michigan Libertarian governor candidates walk into a bar.
Longtime Libertarian activists Bill Gelineau, a title insurance agent and former party chairman, and John Tatar, a retired Army Reserve lieutenant colonel and teacher, are running to be their party's candidate for governor.

Feds arrest dozens in sweeping action against hackers targeting wire transfers
The "Nigerian prince" who emailed you and offered millions of dollars in exchange for helping them get money out of the country may have just been arrested on wire fraud charges.


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Top Consumer Watchdog Places Bureaucracy Ahead of Consumers... Literally.
Source of Title Blog
2018/04/26
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