Update: This story was updated several hours after publishing to include comments from a Suburban spokesperson saying the company is exiting the mortgage business but not shutting down the company as a whole. Arizona-based mortgage lender Suburban Mortgage Inc.’s website is down and employees’ emails are disabled, indicating that the company apparently shut down its […more]
It’s becoming clear that the settlement services industry, long reluctant to adopt new technology, is finally moving in the direction of comprehensive automation. For an industry where processes, clientele and compliance requirements vary dramatically from state to state or even county to county, this is great news. That lack of national uniformity means that manual […more]
September 3, 2021: Gov. Kathy Hochul toured several homes in East Elmhurst, Queens that flooded from torrential rains brought on by Hurricane Ida. Photo by Kevin P. Coughlin / Office of the Governor on Flickr Ahead of the one-year anniversary of Hurricane Ida, Comptroller Brad Lander on Tuesday released a new report that lays the groundwork for legalizing New […more]
Summer is here with plenty of opportunities to explore different neighborhoods, enjoy music and food at street festivals, and discover new cultural opportunities. Here’s a round-up of five activities that we found most interesting for you this week! Coast Over to North Coast One of the last big music festivals of the summer is coming: […more]
Summer is here with plenty of opportunities to explore different communities, enjoy music and food at festivals, and discover new cultural opportunities. Here’s a round-up of five activities that we found most interesting for you this week! Take a Stroll on the Evanston Lakefront Join the Evanston History Center for a guided tour of the […more]
The 10-minute speech given by Federal Reserve Chair Jerome Powell last week continues to impact mortgage rates. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 5.66% with an average 0.8 points. (A point is a fee paid to a lender equal to 1% of the loan amount. […more]
Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. With the Rocket Pro TPO product, homeowners […more]
The average rate for a benchmark 30-year mortgage ticked up another 11 basis points (0.11 percentage points) over the past week to 5.66 percent, an average rate which is now 97 percent higher than at the same time last year and 114 percent higher than last year’s all-time low of 2.65 percent. At the same […more]
Want proof that Jay Powell has tamed the housing frenzy, and reversed the trend of buyers having to pay well over the list price to win a house? Here are examples of the list and sold prices of August home sales between La Jolla and Carlsbad – note the relationship to the days-on-market (DOML): So […more]
“Access Hollywood” co-host Mario Lopez is hosting the sale of his Glendale, CA, compound. It’s listed for $6.5 million.