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Aug 22, 2024 | 
themortgagepoint.com | Kyle Horst
The number of zombie foreclosures in the United States has reached its lowest level since 2021, according to a new report from ATTOM Data, a property data provider. The third-quarter 2024 Vacant Property and Zombie Foreclosure Report reveals a significant decline in abandoned homes in foreclosure, reflecting the continued resilience of the U.S. housing market.
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Aug 21, 2024 | 
themortgagepoint.com | Kyle Horst
Congresswoman Maxine Waters (D-CA), Congressman Sean Casten (D-IL), and Senator Sheldon Whitehouse (D-RI) have called on the National Association of Insurance Commissioners (NAIC) to expedite the integration of climate-related financial risks into the U.S. insurance industry’s regulatory framework. In a letter addressed to NAIC President Andrew M.
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Aug 21, 2024 | 
themortgagepoint.com | Kyle Horst
The slight uptick in rental affordability is attributed to a combination of stagnant rents and a modest increase in teacher salaries.
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Aug 20, 2024 | 
themortgagepoint.com | Kyle Horst
A significant shift in the real estate industry is drawing mixed reactions from the professionals most affected. The new commission rules, which took effect on August 17 following a landmark federal court ruling earlier this year, have disrupted a long-standing practice in the industry.
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Aug 20, 2024 | 
themortgagepoint.com | Kyle Horst
Despite the vast expanse of the United States and the freedom to move across its 3.8 million square miles, most Americans prefer to stay close to home, according to a new analysis by LendingTree. The study, based on data from the U.S. Census Bureau’s 2022 American Community Survey (ACS), reveals that only 11.21% of Americans moved within a year of the survey, with the majority of those who moved staying within their own state.
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Aug 19, 2024 | 
themortgagepoint.com | Kyle Horst
The Federal Home Loan Bank System (FHLBank System) has expressed strong support for efforts to streamline the Affordable Housing Program (AHP) application process, as outlined in a recent comment letter submitted in response to the Federal Housing Finance Agency’s (FHFA) Request for Input. However, the FHLBanks also argue that more comprehensive changes to the program’s regulatory framework are necessary to maximize its effectiveness.
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Aug 19, 2024 | 
themortgagepoint.com | Kyle Horst
As housing prices continue to rise, the age-old question of whether it makes more financial sense to rent or buy has become more complex. However, recent analysis by First American Financial Corporation suggests that in 27 of the top 50 U.S. real estate markets, the financial scales have tipped in favor of homeownership, largely due to the wealth-building benefits of equity accumulation.
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Aug 16, 2024 | 
themortgagepoint.com | Kyle Horst
Investor activity in the U.S. housing market saw a significant uptick in the second quarter of 2024, with purchases rising 3.4% year-over-year—the largest increase since mid-2022, according to a new report by Redfin, a real estate brokerage. Investors bought approximately one out of every six homes sold in the quarter, representing $43 billion in transactions, marking a 13.7% increase from a year earlier.
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Aug 15, 2024 | 
themortgagepoint.com | Kyle Horst
The U.S. foreclosure market experienced a notable uptick in July 2024, with foreclosure filings increasing by 15% from the previous month, according to the latest report from ATTOM Data, a land, property, and real estate data firm. A total of 31,929 properties across the nation faced foreclosure actions, which include default notices, scheduled auctions, or bank repossessions. This marks a slight 0.2% increase from the same period last year.
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Aug 15, 2024 | 
themortgagepoint.com | Kyle Horst
The U.S. Department of Housing and Urban Development (HUD) has announced its participation in a coordinated federal initiative aimed at addressing the escalating threats of extreme heat and climate change. The agency will collaborate with more than 25 federal partners as part of the National Integrated Heat Health Information System (NIHHIS), joining the White House in the launch of the first-ever National Heat Strategy for 2024-2030.
