Home prices are up 18% on average across the United States. Mortgage lenders anticipate increased refinance volumes, but they’re more cautious when it comes to purchase demand. There was a 9% increase in pending home sales in August—the slowest growth since June 2020. Manufactured…
Homebuying demand begins to ease up a bit, with 5% of home sellers dropping their price in recent weeks. Builder confidence sinks to a 13-month low. The FHFA proposes housing goals for the GSEs to boost minority homeownership. Appraisers are urged to pay attention…
The Chairwoman of the House Financial Services Committee asks agencies to prolong pandemic homeowner protections. Pandemic-driven migration drives up home prices in popular cities. New home sales fall to the lowest pace in a year. Despite low rates, only 22% of homeowners refinanced their…
March was the hottest month for housing since at least 2012. With home-sale prices hitting a record high, the appraisal gap has created friction among agents, lenders, and appraisers. Appraisal waivers have exploded during the COVID-19 pandemic. The President of The Appraisal Foundation discusses…
FHFA extends relaxed lending and appraisal standards to the end of April. A record-breaking 36% of homes sold above list price in February, due to historic homebuyer competition. Housing is expected to remain resilient despite low inventory, with accelerated U.S. economic growth predicted this…
At its public meeting on February 19, 2021, the Appraisal Standards Board of The Appraisal Foundation voted to extend the expiration date of the 2020-2021 USPAP publication by one year. Instead of expiring on December 31, 2021, the current USPAP will remain in effect…
We’re excited to announce the release of the 2020-2021 Appraisal Income Guide, the second annual Income Guide to be published by McKissock Learning. Inside the guide, you’ll find how appraisal income breaks down by license level, insights on career satisfaction, areas where top earners…
The 2020 housing market will end the year as the highest performing sector of the U.S. economy. Next year’s 2021 housing market will remain strong as the economy recovers from the COVID-19 recession. The Mortgage Technology sector is growing rapidly, modernizing and digitizing what…
Appraisers are notoriously busy, which is why we’ve scoured the internet for the latest appraisal-related news and information to help our followers stay up-to-date. Here are some of the highlights in appraisal news from the past two weeks. Fannie Mae Extends Deadline Date on…
On May 5, 2020, Fannie Mae announced that the temporary appraisal flexibilities that were outlined in Lender Letter 2020-04 (LL-2020-04) have been extended until June 30, 2020. The revised Lender Letter can be found here. Freddie Mac made a similar announcement, also extending their…
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