REI INK

News Updates

U.S. FORECLOSURE ACTIVITY SETS POST PANDEMIC HIGHS IN FIRST QUARTER OF 2022

  • by
  • Comment Off
  • 628 views

Foreclosure Starts, Bank Repossessions at Highest Numbers in Two Years, But Still Well Below Normal Levels ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosure and distressed properties, released its Q1 2022 U.S. Foreclosure Market Report, which shows a total of 78,271 U.S. properties with a foreclosure filing during the first quarter of 2022, up 39 percent from the previous quarter and

Read More

WORD OF THE DAY: Hermitage

  • by
  • Comment Off
  • 905 views

[HER-mih-tij] Part of speech: Noun Origin: Greek, 14th century Definitions: A secluded residence; the home of a hermit Examples of Hermitage in a sentence “We bought our lake home with five acres of land because we needed a hermitage to escape to. “ “While walking through the woods, the kids discovered a hermitage that seemed abandoned.” About Hermitage Hermit, one who lives in seclusion, plus the suffix “-age,” meaning place of living or business, gives you

Read More

Redfin Reports Nearly One-Third of Homeowners Have a Mortgage Rate Far Below Today’s Level, Prompting Some to Stay Put

  • by
  • Comment Off
  • 617 views

With mortgage rates surging, some homeowners who would otherwise be selling are staying put, as moving could mean losing their ultra-low rate and getting stuck with a heftier housing bill About half (51%) of U.S. homeowners with mortgages have a mortgage rate under 4%—substantially below today’s level of 5%, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. About one-third (32%) of all homeowners—including those without mortgages—have a mortgage rate

Read More

Economic Growth Forecast Downgraded as ‘Soft Landing’ Appears Increasingly Unlikely

  • by
  • Comment Off
  • 387 views

Higher Mortgage Rate Environment Expected to Slow Housing Activity Expectations of aggressive monetary policy tightening through 2023 by the Federal Reserve are likely to further soften economic output already being weighed down by decades-high inflation and the ongoing effects stemming from the Russian invasion of Ukraine, according to the April 2022 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group’s latest forecast includes downgrades of 0.2 and 2.4

Read More

WORD OF THE DAY: Approbate

  • by
  • Comment Off
  • 706 views

[AP-rə-beyt] Part of speech: Verb Origin: Latin, 15th century Definition: Approve formally; sanction. Examples of Approbate in a sentence “In order to build a shed, the city council needed to approbate my project with a building permit.” “My boss approbated my expenses from my trip to the trade show.” About Approbate “Approbate” is derived from Latin, mingling “ad-” (meaning “to”), “probare” (meaning “try” or test”), and “approbat,” meaning “approved.” Together the term suggests the kind

Read More

Property Taxes on Single-Family Homes Rise Across U.S. in 2021, to $328 Billion

  • by
  • Comment Off
  • 289 views

Average Property Tax Also Up 2 percent, to $3,785, as Effective Rate Declines Slightly; Highest Effective Tax Rates in Illinois, New Jersey, Connecticut, Vermont, Pennsylvania ATTOM, a leading curator of real estate data nationwide for land and property data, released its 2021 property tax analysis for almost 87 million U.S. single family homes, which shows that $328 billion in property taxes were levied on single-family homes in 2021, up just 1.6 percent from

Read More