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Homeowners May Be Willing to Relocate After SCOTUS Overturns Roe v. Wade
Last week, the Supreme Court ruled to overturn Roe v. Wade, which could potentially change where people want to live. A previous report from Redfin, the technology-powered real estate brokerage, states about 1 in 7 people (15%) who recently moved at the time say they would not live in a place where abortion is fully legal.
Real Document Solutions
Baby Boomer Homeowners' Mortality Expected to Have Minimal Impact on Housing Supply and Prices
More than 4 million existing-homes for sale annually over the next decade will come from the aging and mortality of older homeowners, but sustained homebuyer demand from population growth and younger-generation households should lead to minimal excess housing supply and have no measurable reduction in home prices.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 0.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 24, 2022. This week’s results include an adjustment for the observance of the Juneteenth holiday.
Pending Home Sales Edge Higher 0.7% in May
Pending home sales crept higher in May, ending a six-month streak of declines, according to the National Association of Realtors®. Regionally, month-over-month results were mixed as the Northeast and South experienced increases while the Midwest and West posted decreases. Year-over-year contract activity slid in all four major regions.
LodeStar Integration with Vesta's LOS Powers Automated Closing Costs
The new integration, which takes advantage of Vesta’s first-class open APIs, will provide mortgage lenders using Vesta’s LOS technology seamless access to LodeStar’s closing fee calculator. The integration will streamline and accelerate the generation and delivery of cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE) with guaranteed accuracy.
New Home Sales Increase in May Before Fed June Rate Rise
After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike.
Redfin Reports Homebuying Demand Dips Further as Rates Approach 6%
“Mortgage rates near 6% have put a big chill on demand for homes,” said Redfin chief economist Daryl Fairweather. “With home prices still at record highs, the affordability crisis has been dialed up to an 11 out of 10. Home sellers are aware of this as well; a record share are dropping their asking price. Even though there are fewer home sales, prices have not declined any significant amount yet. But if the housing market continues to cool, prices could fall in 2023.“
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Inflation likely to force rise in home, car insurance rates
There really doesn't seem to be any good news about inflation for consumers on the horizon. Now, when they receive their homeowner and auto insurance renewal contracts this year, they're likely to find their rates have risen significantly.

The Fed Keeps Raising Rates. But That's Only One of Many Factors Driving Rising Mortgage Rates
Mortgage rates are averaging around 5.9% nationwide, and they're likely to go up again. That's because the U.S. Federal Reserve issued its largest rate hike in nearly 30 years as it tries to combat inflation. The Fed's base rate, however, isn't the only thing that will determine your mortgage rate. It has an impact, but so do plenty of other factors - like the overall state of the economy, or the type of mortgage - as well as your personal financial profile.

Today's mortgage rates are still relatively low - here's why you may want to apply for one sooner than later
When comparing all this to 2020 and 2021, rates have certainly gone up. However, putting today's 30-year rate in context with how the average rate has trended over the last few decades shows us that it's still relatively low - and relatively affordable. According to Freddie Mac data going back to 1971, the long-term average for 30-year mortgage rates is just under 8%, with the record-high average reaching a whopping 16.64% in 1981. All in all, in context, today's 30-year 5.81% rate still falls below the historical average rate.

RON technology does not replace notarial duties - the lesson from Fang vs. Nexus Development Holdings LLC
Identity fraud exists in in-person and remote interactions. Notaries are used to protect against identity fraud and are responsible to verify the identity of a principal as the person the principal purports to be. However, fraudsters may succeed when notaries fail to fulfill their duties when conducting in-person or remote notarizations. Identity fraud forms the basis of the first lawsuit filed in connection with a notarial act performed using remote online notarization (RON).

New Citi GPS Report Looks at Opportunities to Drive Efficiency in the Housing Market
The housing market has missed the technology wave of the past few decades. But tight supply/demand and affordability concerns following the pandemic are leading to increasing PropTech solutions that drive efficiency throughout the real estate transaction.

Mortgage rates rise again, pricing more buyers out of the housing market
"Fixed mortgage rates have increased by more than two full percentage points since the beginning of the year," said Sam Khater, Freddie Mac's chief economist, in a statement. "The combination of rising rates and high home prices is the likely driver of recent declines in existing home sales. However, in reality, many potential homebuyers are still interested in purchasing a home, keeping the market competitive but leveling off the last two years of red-hot activity."


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Arizona E-Recording
May 11 2022
Data Services, Inc. is offering E-recording in all Arizona Counties directly from our website. No contract, no setup. ...[more info]

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