
Industry News
Industry news plays a vital role in understanding the latest trends in housing, title insurance, and escrow services. From monthly housing market updates to practical tips and best practices, staying informed can help navigate the complexities of real estate with confidence. Plymouth Title Guaranty Corporation shares insights and updates designed to keep professionals and homebuyers prepared for every step of the process.
Powerful Job Gains Drive Economic Growth
With COVID numbers growing but unemployment aid ending, it’s possibly very unstable for the economy as experts continue to monitor the ever-changing situations across the country concerning inflation, job growth, and the housing markets.
Delta Variant Spurred Startling Mortgage Rate Plummet
The Delta variant spurred a startling mortgage rate plummet as of late. Mortgage rates declined as a result of the increasing economic uncertainties. Analysts attribute the uncertainty to the COVID-19 Delta variant and its mutations. As a result, the average 30-year loan rate fell to a five-month record.
Housing & Employment Pulled Off a Remarkable Rebound
Housing and employment pulled pulled off a remarkable rebound after a tumultuous 2020. Last year, both sectors saw numerous setbacks as homes sat idle on the market while businesses laid off hundreds of thousands of workers. Taking a look at July’s data, we see that 2021 is singing a different tune.
Owner's Title Insurance: Why You Should Get a Policy Now
An owner’s title insurance policy is critical for protecting you from all types of issues you might have with the title of your home. It is essential and should never be overlooked by homeowners who want to make sure they are fully protected from title issues that could arise. Here, we will go over some top reasons to never pass on title insurance.
July 2021 Market Updates
The latest data shows that inflation continues its epic climb while home sales rapidly recover across the country. As a result, the outlook on economic growth and future Fed policy remains stagnant. The Fed stated that their core PCE target is 2.0%. In May 2021, core PCE rose 3.4% higher than a year ago. While this is slightly below the consensus forecast, core PCE jumped up from an annual rate of increase of 3.1% in April.
Public Record Errors Have a Tremendous Impact on Property Titles
Public record errors have a tremendous impact on property titles. Imagine this. You spend months searching for that perfect dream home. You gain preapproval and sign the contract. The closing process is going smoothly. All of the hard work was worth it, and it’s time to reap the fruits of your labor. Then, all of a sudden, you smash into a major wall.
The property title has public record errors. This wasn’t your fault. But what are the negative consequences?Usually, real estate industry professionals trust public records to be completely true and accurate. But mistakes do happen from time to time. Sometimes, those mistakes affect a homeowner’s title.
June 2021 Market Updates
Many reports have revealed numbers below expectations as investors begin to look into what the rest of the year has in store as the economy continues to recover from the COVID pandemic.
Real Estate Closing Advice & Actually Understanding What Happens Before
First-time home buyers search high and low for real estate closing advice. The real estate closing process generates unfathomable stress, especially for first-time home buyers. Prospective home Buyers await news regarding appraisals, property inspections, and title searches. With so many moving pieces, it is challenging to maintain constant vigilance over the process.
Plymouth Title Guaranty Corporation seeks to mitigate that. Some key pieces of advice (and information) help ease home buyers through their first foray in the world of property ownership.
May 2021 Market Updates
The economy gained 916,000 jobs in March 2021; revisions added 156,000 more. Strength was seen in the hospitality and construction sectors. The unemployment rate dropped from 6.2% to 6.0%. Average hourly earnings, an indicator of wage growth, fell slightly. They were 4.2% higher than a year ago, down from 5.2% last month. Last week's key employment data revealed that companies are hiring back workers who were let go due to the pandemic even quicker than anticipated. At the end of February, job openings jumped to 7.4 million, well above the consensus forecast. The Department of Labor releases the total number of new claims for unemployment insurance each week; the latest reading was 547,000, the lowest level in over a year.
The Difference Between a Title and a Deed
To most people, the words ‘deed’ and ‘title’ are interchangeable. But there are actually major differences between the two that are important to understand before you start the process of a real estate transaction.
April 2021 Market Updates
Recent reports have continued to show reasons for positivity related to the economy in job growth and inflation, but many investors continue to worry about the long-term effects leading into the rest of the year.
Top 3 Real Estate Title Issues
Real estate transactions can be exciting for all parties involved, but without proper research and protection, you can find yourself on the bad end of a title issue that could challenge your rights as a homeowner. Here are a few of the most common real estate title issues and what you can do to protect yourself or prevent them altogether.
March 2021 Market Updates
With more information and reports released, we can learn more about how the economy is continuing to move during a hectic start to 2021.
What You Need To Know About Property Liens
What happens when a property owner cannot pay back their debts or fail to pay taxes? Property liens. Though many have heard of them, few know exactly how they work, how to get rid of them, and even how a smart investor can profit from them.
February 2021 Market Updates
With constant change and uncertainty surrounding much of 2021 from the ongoing pandemic, potential COVID stimulus, and volatile mortgage rates, the latest reports share their positives and negatives.
United Wholesale Mortgage Goes Public to Start 2021
In major mortgage industry news to start the new year, one of the country’s largest mortgage companies has officially gone public on the New York Stock Exchange (NYSE) after a multibillion-dollar merger.
The Difference Between Owner’s and Lender’s Title Insurance
Most people understand the necessity behind purchasing title insurance, but few know that there are two distinct kinds of title insurance, and even fewer know the differences between them. Owner’s and Lender’s title insurance are similar in nature but cover two different sides of a real estate transaction.
January 2021 Market Updates
The end of 2020 was an eventful one for the economy and its potential rebound after the pandemic.Vaccinations began to roll out, the holiday season showing positive signs, and the U.S. market continued its growth.
End of Year Refinancing
Like many Americans, you have probably wondered if end of year refinancing would result in a better monthly payment, lower interest, and an overall better financial situation for you and your family. However, December might truly be the best time to consider your options and decide if refinancing is the right next step.
December 2020 Market Updates
The world is in a state of change as the most recent reports are released. Though a lot is still uncertain, there were positive signs for job recovery and in the housing market.