Reporters discuss bombshell story on Better.com’s CEO

An exclusive interview with the Forbes reporters who recently wrote a bombshell article about Better.com CEO Vishal Garg’s controversial workplace culture.

Now is the time to double down on diversity and inclusion efforts

Quicken Loans Mortgage Services is proud to partner with a diverse set of brokers, which broadens the pool of potential clients they serve together.

How to Accelerate Closings in 2021

In this webinar, we’ll provide you with actionable insights to help you accelerate your closing process from point-of-sale through post-closing.

Why are sellers sitting on the housing market sidelines?

Why aren’t more homeowners selling in this hot housing market? According to new research from Zillow, a number of factors are at play.

Mortgage

Low mortgage rates will push home lending to 12-year high

Lenders will fund $2.07 trillion of mortgages in 2019, MBA says

Low mortgage rates will push home lending this year to a 12-year high of $2.07 trillion, the Mortgage Bankers Association said in a forecast.

The volume for mortgages to purchase homes probably will total $1.27 trillion, the highest since the peak of the housing bubble in 2006, according to the group’s Nov. 20 forecast.

Refinancing probably will reach $796 billion, the most since 2016, MBA said.

Mortgage rates unexpectedly tumbled for the first nine months of 2019 as a slowing economy sent investors flocking to bonds. The monthly average rate for a 30-year fixed mortgage dropped to 3.61% in September before rising eight basis points in October, according to Freddie Mac data.

Even at 3.69%, the October rate is more than a percentage point lower than a year earlier.

Sales of existing homes probably will total 5.36 million in 2019, up from 5.34 million last year, the trade group said. New-home sales probably will reach 681,000, up from 615,000 in 2018, MBA said.

The average U.S. rate for a 30-year fixed mortgage likely will remain low at 3.7% in 2019 and 2020, the trade group said. That’s more than a percentage point lower than the 4.8% average in 2018, MBA said.

Home prices probably will gain 4.3% in 2019 from a year earlier, the group said. That’s a slower pace than the 6.1% annual increase in 2018.

MBA bases its home-price forecast on the Federal Housing Finance Agency’s index that measures sales of single-family homes with mortgages backed by Fannie Mae and Freddie Mac.

The homebuilding industry this year will have the highest output in more than a decade, according to the forecast. Builders probably will break ground on 878,000 new single-family homes, up from 873,000 last year, MBA said. That would be the most since 2007, according to data from the Department of Commerce.

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

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