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News Updates

MCS CONTINUES EXPANSION OF SELF-PERFORMING SERVICES IN KEY U.S. MARKETS

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MCS self-performing network expands to 25 markets with more expected; Network includes regional Service Centers and dedicated MCS Project Managers   MCS, the national property services company founded in 1986, has continued the national expansion of its self-performing network, designed to support all facets of the company’s commercial, residential, default mortgage and property preservation business lines. Since first announcing plans a year ago to expand its self-performing capabilities nationwide, MCS

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U.S. Asking Rents Remained Sluggish in October Amid Rising Vacancy Rate

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Asking rents were little changed from a year earlier for the seventh-straight month as an increase in new units hitting the market drove up vacancies, making it harder for landlords to raise prices. The median U.S. asking rent in October was $1,978, little changed (-0.3%) from a year earlier, but down 3.7% from the $2,054 record high set in August 2022. That’s according to a new report from Redfin (redfin.com), the technology-powered

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SingleSource Announces SingleVue™ to Support Fannie Mae’s Value Acceptance + Property Data Initiative

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SingleSource’s appraisal modernization and data collection solutions help lenders reduce cycle times and increase efficiency. SingleSource Property Solutions, a leading provider of property services supporting the U.S. housing industry, announced it now offers data collection suites and a proprietary mobile app, SingleVue™ for the Fannie Mae Value Acceptance + Property Data Initiative. By utilizing SingleSource’s data collection solutions as part of the GSE’s appraisal waiver initiative, lenders can achieve shorter loan cycle times, lower

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Consumers Increasingly Sour on Economy, Blame Inflation

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Housing Market Frustrations Continue, Too, with Survey-Record 85% of Consumers Saying It’s a ‘Bad Time’ to Buy a Home The Fannie Mae Home Purchase Sentiment Index® (HPSI) remained largely flat in October, as consumer frustration toward housing unaffordability and an economy battling inflation continue to depress overall sentiment. Despite improvement in the share of consumers expressing greater job security and improved household income, 78% of respondents believe the economy is on the “wrong

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Buyers Remain Cautious of Housing Market Amidst Inventory Pressures

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Buyers Continue to Grapple with Low Affordability Driven by Seven Straight Weeks of Mortgage Rate Increases Inflation Levels Sit Above Targets as Further Rate Hikes Remain a Possibility New Listing Volume Continues to Lag Contract Volume, Putting Further Downward Pressure on Inventory HouseCanary, Inc. (“HouseCanary”), a national brokerage known for its real estate valuation accuracy, released its October Market Pulse report, showing market activity in terms of net new listing volume

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HOME EQUITY TRENDS MIXED ACROSS U.S. IN THIRD QUARTER DESPITE CONTINUED PRICE INCREASES

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Equity-Rich Portion of Mortgaged Homes Slips at Fastest Pace in At Least Four Years;But Seriously Underwater Level of Mortgages Improves;Overall Equity for Homeowners Holds Steady ATTOM, a leading curator of land, property, and real estate data, released its third-quarter 2023 U.S. Home Equity & Underwater Report, which shows that 47.4 percent of mortgaged residential properties in the United States were considered equity-rich in the third quarter, meaning that the combined estimated amount of

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