In the Know

Zillow: Median Home Value at New High
Posted Friday July 21, 2017 in Industry News

The national median home value has reached $200,400, a 7.5 percent increase from last year. Zillow attributed this new peak to a higher buyer demand and a shrinking housing inventory. In some markets, year-over-year gains have been in double-digit figures: Seattle’s home values are up 13 percent year-over-year to a median home value of $447,100,… Read more »

Big Boomers vs. Minimal Millennials
Posted Monday July 17, 2017 in Mortgage + Real Estate Tips

Even in a seller’s market, some baby boomers are having a hard time selling their big homes. The primary reason: millennials prefer more minimalistic living. Realtor.com recently reported that boomers who are trying to sell the big home they’ve had for years are out there house hunting for the same type of home new homebuyers… Read more »

Average FICO score reaches 700 for first time ever
Posted Wednesday July 12, 2017 in Industry News

The average FICO score reached an all-time high, hitting 700 for the first time ever. And scores are expected to continue climbing even as mortgage lenders prepare to ease credit standards over the next few months. Average credit scores bottomed out at 686 during the housing crisis after a sharp increase in foreclosures, FICO vice… Read more »

CFPB finalizes updates to TRID
Posted Friday July 7, 2017 in Industry News

After much anticipation, the CFPB officially released the finalized updates to the Know Before You Owe mortgage disclosure rule, also known as the TILA-RESPA Integrated Disclosure rule. The newly amended rule finally answers industry calls for greater clarity and certainty. But it’s not over. The CFPB also announced a follow-up proposal, seeking information on closing… Read more »

Prices Start to Rise as Supply Tightens
Posted Thursday July 6, 2017 in Mortgage + Real Estate Tips

The first quarter of 2017 saw a see-saw pattern in housing indexes. What’s going down? The supply of homes on the market. Job growth is firing up demand for real estate, pushing buyers into bidding wars for the tight supply of homes on the market. There were 1.83 million previously owned homes available for sale… Read more »

Lending, Reimagined
Posted Monday July 3, 2017 in Mortgage + Real Estate Tips, Recruitment

Ever wonder what the future of mortgage lending will look like? We’ve got a pretty good idea, since Skyline envisioned and created that future. Imagine a mortgage process without any issues submitting documents. Borrowers can view the status of their loan from start to finish, giving them complete clarity on the biggest purchase of their… Read more »

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