In the latest market news, the dynamics of the housing sector have seen some interesting fluctuations. Here’s a comprehensive update for September 2023, shedding light on the notable trends and patterns. Slowing Sales of Existing Homes Among September 2023 Market Update Insights For the month of July, sales of existing homes experienced a slight dip […]
As you venture into the world of home buying in Illinois, there are various costs and taxes you should be aware of. One such cost is the Real Estate Transfer Tax. As a title insurance agency, we routinely assist our clients in navigating these costs, ensuring a seamless and transparent property transfer experience. What is […]
In the dynamic landscape of the housing market, recent data unveils a mixed bag of news that underscores the ongoing challenges and opportunities within the industry. Existing home sales for the month of June saw a decline of 3% compared to May, marking a 19% drop from the previous year at the same time. This […]
In a remarkable turn of events, the U.S. housing market has skillfully sidestepped the looming threat of a catastrophic crash, sparking widespread interest and fueling fervent discussions among experts and enthusiasts alike. This dynamic and ever-shifting terrain has emerged as a central focal point of contemplation and analysis, captivating the attention of those vested in […]
At the end of June 2023, the latest economic reports saw housing starts surge. Now, this presents a positive development that aims to combat the scarcity of existing homes for sale. The Housing Market’s Response Despite a slight increase in existing home sales from April to May, these figures still lag significantly behind last year’s […]
In the digital age, online transaction platforms have revolutionized the title insurance industry, offering a centralized hub for streamlined property transactions. These platforms bring together buyers, sellers, real estate agents, lenders, and title insurance professionals, providing efficient collaboration and seamless transaction management. Qualia: Simplifying End-to-End Title Insurance Solutions Qualia is a widely recognized online platform […]
In May, the housing market witnessed a glimmer of hope as mortgage activity rebounded following a period of decline. The Mortgage Bankers Association (MBA) reported a 5% increase in purchase applications compared to the previous month, indicating increased demand for housing. Refinancing applications also experienced a notable uptick, rising by 10%. However, it is important […]
Inflation has become a prominent concern in recent times, as rising costs have impacted various aspects of our daily lives. From grocery bills to housing expenses, consumers have felt the pinch of increasing prices. However, there are signs that the inflation peak may be within reach, offering a glimmer of hope for individuals and businesses […]
The real estate data for March 2023 had a significant impact on mortgage-backed securities (MBS) in April. Let’s explore how specific factors influenced MBS: Decline in Existing Home Sales and Low Inventory Levels Existing home sales decreased by 2% in March compared to February and 22% from the previous year. This decline indicates reduced demand […]
Climate change is causing significant disruptions to natural disasters and weather patterns worldwide, prompting mortgage lenders to acknowledge the implications of emerging threats on the American real estate market. This article explores the reasons why mortgage lenders are closely examining climate risk and its effects on the industry. Defining Climate Risk in Mortgage Lending In […]