Daily Dose

On Tuesday, the S&P Dow Jones published its data from the S&P CoreLogic Case-Shiller Indices, a trio of indexes that measure change in the prices of residential homes on a national composite average, a 10-city composite average, and a 20-city composite average. March’s data shows a slow but steady rise in the price of homes on all three of the indexes measured, a trend which David Blitzer, the Managing Director and Chairman of the Index Committee at S&P Dow Jones, thinks will continue in the months ahead.

New data shows that Baby Boomers may be just as saddled with student loan debt as millennials—maybe even more. Between 2005 and 2015, people aged 60 or older saw their student debt increase eight times, while debt for those under 30 increased just twice. Many Boomers are taking out loans and refinancing their homes to either return to school or help their children and grandchildren with college tuition.

The Federal Housing Finance Agency has released its monthly index on mortgage interest rates, surveying 17 lenders and a total of 4,437 loans closed during the last 5 business days of April. Lenders report a decline of 14 to 15 basis points on all loan interest rates as well as a slight decline in the average loan amount. April marks the second straight month the FHFA’s survey has reported a drop in interest rates.

According to the Redfin Housing Demand Index, the amount of customers requesting home tours and writing offers is on an incline. This large demand has lead to housing price increases and shortages in inventory, which has caused experts to wonder if the result will be a cooling of the market. Of the 15 markets Redfin covers, Seattle is currently on track to be the metro with the least inventory.

After the 59th straight month of appreciation, home prices have hit a new peak of $272K. They also reached a new peak in eight states, including Indiana, Massachusetts, New York, North Carolina, Pennsylvania, Tennessee, and Washington. Fifteen metro markets also peaked, with San Jose, California, seeing the biggest jump year-over-year.

As the technology conversation in the mortgage industry heats up, many companies are attempting to meet industry demands and adopt streamlined industry processes. Today’s companies are driven by creativity and innovation and are fostered by client success. MReport spoke to James Vinci, VP and Chief Technology Officer at Equator, about what mortgage professionals can learn from other industries and what technology trends are having the most impact today.

Mat Ishbia, President and CEO of United Wholesale Mortgage, spoke with MReport on how mortgage lenders and brokers can adapt to the changing climate. According to Ishbia, the industry is not in the same place it was just five years ago, and drastic changes are sure to continue into the coming years. How has wholesale mortgages changed, and what can we expect in the future?

Financial professionals in the digital age are able to do something that was once impossible: see into the future. Using predictive analytics, a blend of statistical analysis and computer science, today’s financial professionals solve problems, improve processes, and understand trends in consumer behavior. Editor's note: This select print feature originally appeared in the May issue of MReport, available now.

Though many of today’s homebuyers are looking for a more automated, high-tech mortgage process, that doesn’t mean they want to be left to their own devices. Most buyers—even the tech-savvy millennials—still want a good amount of handholding throughout the process. Striking a balance between those high-tech and high-touch demands can make lenders stand out in today’s marketplace.

Houston, Chicago, and San Antonio are ranked as the top domestic markets for incoming movers. Its job opportunities and diverse industries keeps Houston at the top of the list for the eighth year in a row. Data trends also list the other top 10 cities movers are headed to.