Real estate news

• Vista Equity Partners merges D+H with Misys to form Finastra

  14-06-2017 23:54
  
  Earlier this year, Vista Equity Partners acquired D+H in a $3.6 billion deal. At the time, Vista Equity said that it planned to merge D+H with Misys, a global software provider for retail and corporate banking, lending, treasury and capital markets, investment management and enterprise risk based in the United Kingdom. And Wednesday, that’s exactly what happened.
  
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• New Orleans cracks down on Airbnb rentals

  14-06-2017 23:32
  
  New Orleans is cracking down on its Airbnb rentals as it sent out more than 400 notices to 382 properties. However, cracking down is turning out to be difficult, and the coming week will bring more changes to the city’s procedures.
  
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• Industry reacts: While June rate hike expected, rest of year remains uncertain

  14-06-2017 23:21
  
  While Wednesday’s interest rate hike didn’t come as a surprise to the market, the rest of the year doesn’t look quite as certain, as industry reactions start to pour in on the news. There are four meetings left for this year. Will there be another rate hike announcement from any of them? Industry economists share their thoughts on the news.
  
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• Stearns Lending begins offering $1 million+ loans with only 10% down

  14-06-2017 23:15
  
  Last week, Stearns Lending announced that is was expanding by acquiring the mortgage production channels of Primary Capital Mortgage. On Wednesday, Stearns Lending announced another expansion, but this one isn’t an acquisition. Rather, Stearns is expanding its loan offerings to include a new mortgage offering for borrowers looking for million-dollar houses.
  
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• Rate Rises Again in Second of 3 Expected Hikes

  14-06-2017 23:00
  
  The Federal Reserve voted on Wednesday to raise the key interest rate one-quarter percentage point, ticking off the second of three hikes slated for this year. Analysts largely predicted the outcome, even as lagging inflation gave cause for concern.
  “In view of realized and expected labor market conditions and inflation, the [Federal Open Market] Committee decided to raise the target range for the federal funds rate to 1 to 1-1/4 percent,” according to a statement by the Fed. “
  
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• Home Prices: Fast Times in Florida, Even as South Slows

  14-06-2017 22:49
  
  Fast times in Florida. High home price growth in Jacksonville has made The River City the fastest-growing metropolitan housing market in the nation, with prices up 2 percent quarter-over-quarter, according to Clear Capital’s recently released Home Data Index (HDI) Market Report. Quarter-over-quarter prices nationwide, by comparison, are slowing, up 0.8 percent.
  Home prices in the South overall are following national movement, slacking to 0.6 percent quarter-over-quarter, with plodding grow
  
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• Homeowners Miss Mark When It Comes to Appraised Value

  14-06-2017 22:40
  
  Homeowners again overvalued their homes in May, missing the mark by 1.93 percent, according to the latest Quicken Loans’ National Home Price Perception Index (HPPI). The gap has now widened six months in a row.
  The latest Quicken Loans National Home Value Index (HVI) shows appraised values rose 4.92 percent year-over-year in May.
  “It’s important for consumers to see the HPPI and not only think about the difference in perceptions, but the different perceptions across the country
  
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• Refis could see uptick in second and third quarters

  14-06-2017 22:30
  
  Refinances dropped in the first quarter by a full 45%, and savings from refis hit the lowest level since 2008. Since then, however, refinances began an uptick and total savings jumped once again as mortgage rates fell.
  
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• LendingTree unveils its own Zestimate-style home valuation tool

  14-06-2017 21:20
  
  Consumer-facing home valuation tools, especially Zillow’s “Zestimate”, has long been a source of consternation in the housing industry. And while Zillow’s tool is mainly designed for people looking to buy or sell a home, there’s a new home valuation tool on the market for people looking to buy, sell, or mainly to refinance their mortgage. The company behind the new valuation tool: LendingTree.
  
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• It’s official: Fed raises interest rate for the second time this year

  14-06-2017 19:41
  
  As predicted, the Federal Open Market Committee announced after its June meeting that it is raising the federal funds rate for the second time this year. Up until this meeting, the common consensus was that the Fed would raise interest rates in June, but there still was some doubt in the market. Click the headline to read more.
  
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• Economist: Fed rate increase doesn’t matter to housing market

  14-06-2017 19:06
  
  The industry is abuzz about the June rate hike, however one economist predicted it will have hardly any effect on the housing market. He explained changes to short-term interest rates have little influence on mortgage rates.
  
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• Capital Economics: A seller's market won’t cure inventory shortages

  14-06-2017 18:21
  
  It’s finally a seller's market, but according to a new Capital Economics report, the increased selling sentiment doesn’t guarantee a boost in much-needed housing inventory. So, if people think it’s a good time to sell, what’s stopping them from listing their homes?
  
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• Open Mortgage expands into wholesale lending

  14-06-2017 17:50
  
  Open Mortgage, an Austin, Texas-based mortgage lender, announced Wednesday that it is expanding its mortgage offerings and adding a wholesale lending channel for purchase and reverse mortgages. Here are the details.
  
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• Fannie Mae: Here’s how to bridge the gap on homeowner education

  14-06-2017 17:12
  
  Homeownership education should be high on the list of priorities for borrowers when purchasing a home, according to Fannie Mae. However, many homebuyers are not getting that education. A new blog from the GSE explains the greatest benefit to homeownership education.
  
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• MBA: Mortgage applications rise again thanks to increasing refinance demand

  14-06-2017 13:05
  
  Mortgage applications continued to rise last week as refinance applications rose to their highest level since November 2016, per the latest data from the Mortgage Bankers Association. Per the MBA report, the refinance share of mortgage activity rose to 45.4% of total applications from 42.1% in the previous week.
  
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