Pandemic speeds remote online notarization
To date, 26 states have authorized some form of RON legislation. The Mortgage Bankers Association and American Land Title Association have championed uniform RON legislation, which includes a model bill. Due to the pandemic, several states of have temporarily authorized RON or accelerated the implementation of enabling legislation.
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US long-term mortgage rates fall to low; 30-year at 2.81%
U.S. long-term mortgage rates fell this week as the key 30-year loan reached a new all-time low for the tenth time this year. Home loan rates have marked a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year mortgage fell to 2.81% from 2.87% last week. By contrast, the rate averaged 3.69% a year ago.
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U.S Mortgage Rates Slide to another All-Time Low
Mortgage rates fell to another all-time low in the week ending 15th October. Following a 1 basis point fall in the week prior, the 30-year fixed rate fell by 6 basis points to 2.81%. Compared to this time last year, 30-year fixed rates were down by 88 basis points.
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A $13.5 Billion SPAC Sensation Will Buy Your House
Opendoor buys houses, refurbishes them and sells them a few months later. Essentially, it flips homes. The company rejects that description, however, and would prefer you called it an "iBuyer" - a technology-enabled, one-stop shop for homeowners who want to sell quickly with as little friction as possible. You enter your home address on the website, and some details about the state of the property and its features, and it makes you an offer.
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Compass expands into title and escrow with Modus deal
Compass is getting into the title and escrow business - two ancillary service lines that could boost its earnings as it works toward profitability. On Monday, the residential firm said it signed a definitive agreement to buy Modus, a title and escrow startup that's raised $12.5 million.
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Record-low mortgage rates boost buying power, but home prices cancel that out
Record-low mortgage rates have spurred homebuying in recent months. For those who qualify, rates below 3 percent bring buying power - and rock-bottom rates help ease the affordability squeeze that has gripped the housing market. This welcome trend comes with a wrinkle, however: Home prices have surged so much that the savings from historically low rates are a wash. The National Association of Realtors says the median home price jumped 11.4 percent from August 2019 to August 2020.
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This local company aims to level the playing field in Denver's hypercompetitive housing market
In the midst of possibly the toughest market to buy a home in the Denver metro's history, one local company aims to level the playing field for buyers competing against all-cash offers. Accept.inc is a Denver-based fintech lender that allows homebuyers to essentially turn any offer into an all-cash one, giving some buyers a fighting chance in a Denver-area market that has turned hypercompetitive as the pool of available listings shrinks.
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