Maleesa Smith is the online editor at HousingWire. Smith has a degree in journalism with a concentration in news-editorial from Baylor University. She previously wrote for Southlake Style and Star Local Media.
Last month, we reported that Phoenix led the nation in multifamily rent growth. Now, according to a recent report from CoreLogic, single-family homes are following suit as rent prices are increasing the fastest in the Southwest. Phoenix had the highest year-over-year rent growth for the seventh consecutive month this June, with an increase of 7.1%.
On September 16, Lacey Dingman will join the Federal Reserve Bank of New York as executive vice president, head of the human resources group and chief human resources officer. Formerly a senior leader at the Securities and Exchange Commission and most recently a senior associate director at the Federal Reserve Board, Dingman brings more than 20 years of experience in the public sector to the role.
For the last two weeks Freddie Mac reported 30-year, fixed-rate mortgages averaging 3.6%, a three-year low. These rates, combined with tight housing inventory will lead to an increase in home prices, Capital Economics said in a report on Monday. The report predicts a 3% rise in prices for 2019.
Only a few months after merging with Farmers Exchange Bank, Gateway First Bank has appointed Jeff Schmidt as its chief mortgage operations officer. In this new role, he will manage underwriting, appraisal, closing and funding, post-closing and construction lending departments. Schmidt will also be working to expand of Gateway’s mortgage call centers based in Dallas and Frisco, Texas.
Community Preservation Corp., a nonprofit affordable housing and community revitalization finance company, announced the hire of real estate finance veteran Jaime Tuozzolo. In her new role as vice president and mortgage officer, Tuozzolo will be responsible for sourcing and originating business in the region across all loan products, as well as monitoring projects through construction and conversion.
A recent study by Urban Institute shows that only two U.S. cities have successfully closed the gap between Hispanic and non-Hispanic white ownership. In order to analyze the disparity, Urban Institute studied the 100 U.S. cities with the largest number of Hispanic households. Here's what they found.
In March, Austin’s employment growth rate climbed to 2.5%, far above the nation’s average of 1.6%. With Apple and Amazon both announcing further job expansions within Austin, there doesn’t seem to be an end in sight with regard to job growth. In the midst of it all, rent growth rose at a 3.7% rate through April.
According to a report by the U.S. Green Building Council, the number of LEED, or Leadership in Energy and Environmental Design, certified homes has increased by 19% since 2017. USGBC's report stated that there are more than 400,000 single-family, multifamily and affordable housing units that are LEED certified.
In 2013, Freddie Mac and Fannie Mae established Common Securitization Solutions to design and implement the single GSE bond through the Common Securitization Platform. David Applegate was appointed CEO at the jointly owned company’s launch. But on Thursday, Fannie and Freddie announced that he is stepping down.
According to a recent report from Capital Economics, the slowdown in home sales is feeding the rental demand. The amount of rental households nationwide rose to 600,000 in the second quarter of 2019, according to the Census Bureau, and accounted for the largest gain in three years. Even with the increase, rental vacancies have stayed low, Capital Economics reports.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.