Rocket Innovation Studio goes straight to the source for tech talent

The partnership between Rocket and University of Windsor will introduce coders to Rocket Mortgage and Rocket Homes. Hiring can be tough right now, particularly if you’re looking for coders. So Rocket Innovation Studio — which serves the tech needs of sister companies including Rocket Mortgage and Rocket Homes — is connecting with computer science students … Read more

Mortgage rates continue to ease despite inflation worries

Markets concur with the view that inflation increases are temporary, according to a Freddie Mac economist. Mortgage rates continue to ease despite worries that the Federal Reserve will eventually have to take measures to fight inflation, with rates on 30-year fixed-rate mortgages continuing to inch further below 3 percent. Sam Khater | Photo credit: Freddie … Read more

JPMorgan Chase commits $400M to affordable housing

JPMorgan Chase is undertaking new initiatives aimed at helping close the housing affordability gap for Black and Latino families. The New York City-based international banking company said it’s committing $400 million toward the five-year philanthropic effort, and will also implement new data-driven business practices and policy recommendations. Jamie Dimon “We’re trying to address some of … Read more

Ryan Schneider shares the blueprint for Realogy’s digital future

From virtual title closing services and staging to iBuying, Ryan Schneider is banking on Realogy’s ability to lead the real estate industry into the digital age. Day 2 of Inman Connect is underway with an all-star lineup, including Opendoor’s Eric Wu, Keller Williams’ Wendy Papasan, and many more. Register now to watch the rest of the day … Read more

Fed will keep buying mortgage bonds — for now

Tapering could happen sooner rather than later, with most policymakers open to short-term rate hikes in 2023. Policymakers at the Federal Reserve on Wednesday restated their commitment to keeping a lid on long-term interest rates, saying they’ll continue buying $80 billion in long-term Treasurys and $40 billion in mortgage-backed securities each month “until substantial further … Read more

Demand for mortgages rebounds after 3 weeks of declines: MBA

Demand for mortgages bounced back last week after three weeks of declines, with applications for both purchase loans and refinancing climbing as mortgage rates retreated to the lowest levels since early May. The Mortgage Bankers Association’s Weekly Mortgage Applications Survey showed demand for purchase loans growing by a seasonally-adjusted 2 percent week over week, while … Read more

Home sale-leasebacks are surging, but are they good for homeowners?

The coronavirus pandemic hit many U.S. homeowners hard, leading them to opt into national mortgage forbearance plans while struggling to stay afloat. About 2.2 million homeowners are now enrolled in forbearance plans, according to the New York Federal Reserve. In addition, approximately 1.77 million U.S. households have serious mortgage delinquencies, or are more than 90 … Read more

Fannie Mae has ‘meaningfully downgraded’ its forecast for 2021 home sales

As listing shortages and supply constraints on homebuilders drive up prices, risk of inflation grows, economists with Fannie Mae said. Listings shortages and constraints on homebuilders are denting home sales and driving up home prices and rents, which could fuel inflation and force the Federal Reserve to adopt a more aggressive monetary policy stance, economists … Read more

Homeowners are losing their enthusiasm for refinancing

Mortgage lenders faced a double-whammy in May, with demand for both purchase loans and refinancing falling despite the fact that mortgage rates came back down after surging in February in March. Mortgage lenders faced a double-whammy in May, with demand for both purchase loans and refinancing falling despite the fact that mortgage rates came back … Read more

Flyhomes lands $150M to bring end-to-end homebuying to more markets

Flyhomes says it’s helped close $2.6 billion in home sales to date, with sales prices ranging from $150,000 to $5 million. The company provides end-to-end homebuying services through brokerage, mortgage and closing subsidiaries. Flyhomes, a pioneer of the end-to-end homebuyer model, has landed $150 million in funding that it says will allow it to meet … Read more

Tampa Bay News