What does the fix-and-flip market look like right now?

By: ameer@trustedteam.com

The fix-and-flip market has seen a boom in recent years, with more than 407,000 homes flipped in 2022, a 14% increase from 2021 and a 58% increase from 2020,...

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Job gains slow in June, but are probably still too hot to sway the Fed

By: ameer@trustedteam.com

The labor market is moderating gracefully, but conditions remain too hot for the Fed’s liking. Job gains were relatively solid yet again in June, with total nonfarm payroll employment...

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Will labor data send mortgage rates to 8%?

By: ameer@trustedteam.com

From the St. Louis Fed: Initial claims for unemployment insurance benefits increased by 12,000 in the week ended July 1, to 248,000. The four-week moving average fell, to 253,250. Mortgage...

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FHFA rule change could expand the number of suspended counterparties

By: ameer@trustedteam.com

The Federal Housing Finance Administration is looking to make it easier to put entities and people into its Suspended Counterparty Program, a proposed rule change states.This would require Fannie...

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HMBS issuance reaches a high point for 2023

By: ameer@trustedteam.com

While the year got off to a rocky start for Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS), issuance in June was at the highest point for 2023. While that’s...

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Unemployment rate rises to 5.4% despite job growth. BoC rate hike still on track

By: ameer@trustedteam.com

The creation of 60,000 new jobs in June wasn’t enough to keep the national unemployment rate from rising to a seven-month high. The June employment report released by Statistics...

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Fixed mortgage rates keep rising, and could continue as bond yields near 4%

By: ameer@trustedteam.com

Bond yields ended the week sharply higher, flirting with a key technical level of 4% following the release of overall strong employment data in both Canada and the U.S. In...

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MJ Gleeson sees home sales fall 14%  

By: ameer@trustedteam.com

Housebuilder MJ Gleeson said it sold 1,723 homes over the last year, a 13.8% fall on the previous 12 months, “reflecting the downturn in the wider economy and the...

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HSBC pulls new customer resi range

By: ameer@trustedteam.com

HSBC will halt new residential applications through brokers at 5pm today (7 July).   The high street lender says it will come back with higher new rates on Monday morning....

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Dudley BS reports 58% rise in new mortgage lending

By: ameer@trustedteam.com

Dudley Building Society has reported 58% increase in new mortgage lending following a year of growth across the business. Mortgage lending before repayments totalled £112.3m in 2022/23 – the society’s...

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