Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

Real Estate

How Trump’s election influences New York real estate

People are realizing that the world’s not ending

President-elect Donald Trump is making waves in the real estate market as his election affects not only the stock markets, which reached record highs late last week, but also caused mortgage rates to shoot up.

According to data provided by Zillow, the 30-year fixed mortgage interest rate spiked in the aftermath of Trump’s election, rising from 3.38% on Tuesday to 3.8% on Monday morning.

So what does that mean for the real estate market in New York? At first, many buyers began canceling their views and delaying contracts, according to an article by Ronda Kaysen for The New York Times.

As it turns out, it didn’t take long for this uneasiness to subside.

From the article:

But even a few days can make a difference. By the end of the week, potential buyers were rescheduling appointments they had canceled on Wednesday, Mr. Kliegerman [president of Halstead Property Development Marketing] said. Others who had spent the summer cautiously eyeing apartments were finally signing contracts, relieved that the election was over. “The phone has been ringing a lot this week,” Mr. Debbas [partner at the boutique law firm Romer Debbas] said. “People are realizing that the world’s not ending.”

Some say that Trump’s victory will be good for New Yorkers due to his proposed tax breaks aimed toward the wealthiest Americans that could reinvigorate the luxury housing market. On the other hand, affordable housing advocates worry that the most vulnerable Americans could suffer under future policies.

But this is only taking into account Trump’s economic policy. If he begins the deportation of millions of immigrants, everything could change.

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3d rendering of a row of luxury townhouses along a street

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