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  • RE/MAX getting into the mortgage business; launches Motto Mortgage

    While most of the biggest names in mortgage lending are focused on the Mortgage Bankers Association’s annual conference, taking place right now in Boston, one of the biggest names in real estate revealed that it is getting into the mortgage business. On Tuesday, RE/MAX announced that it is launching Motto Mortgage, a mortgage brokerage franchise that the company plans to take nationwide. Click the headline to read more.


HW 30 stocks shaken by volatile rates, economic reports

mREITS stay in positive territory


The majority of the HW 30 components dipped slightly on Tuesday, after the S&P/Case-Shiller home price report showed a modest slowing in home price growth.

However, mREIT stocks, such as American Capital Agency Corp. (AGNC), Annaly Capital Management (NLY) and Redwood Trust, Inc. (RWT) seemed to buck this trend, ending the day on a positive note.

In fact, only four stocks on the HW index ended the day in positive territory, including the three mREITs. American Capital ended Tuesday trading up 1.32%, while Annaly and Redwood finished Tuesday, up 0.87% and 0.52%, respectively.

The move today was entirely driven by interest rates, a specialist with Compass Point observed.

"Despite the spike in mortgage rates, the general sentiment is that home prices and housing demand will be on the rise with an improving job market and consumer confidence," said Ron D'Vari, CEO and Co-Founder of NewOak.

Interestingly enough, real estate companies  Zillow (Z) and Trulia (TRLA were among the hardest-hit stocks. Zillow ended the day down 2.20% on the HW 30, while Trulia fell 4.16% for the day.

Home repair retail companies, Home Depot (HD) and Lowe's (LOW), also ended the day on a sour note. Home Depot was down 1.74% for the day, while Lowe's dipped 2.11%.


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