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ALTA News: Headlines and news from various media sources, keeping you
"in the know" about issues impacting business and the real estate and
mortgage markets.
The Census Bureau's housing starts and permits data, which typically provide a snapshot of home construction, have been unavailable during the government shutdown. This leaves the quarterly earnings report from PulteGroup, one of the nation's top homebuilders, as one of the only windows into current building trends — and the news has some bright spots despite affordability challenges and weak buyer demand.
Spoofed versions of the FBI’s Internet Crime Complaint Center (IC3) website are now circulating online, and they lead straight back to the scammers. The FBI recently issued an advisory, warning that cybercriminals are setting up fake versions of their site to tempt people into entering their personal information: “Members of the public could unknowingly visit spoofed websites while attempting to find FBI IC3’s website to submit an IC3 report.”
The Federal Reserve is widely expected to lower interest rates by a quarter of a percentage point when policymakers meet next week, but concerns are mounting over the lack of reliable employment figures. Since the start of the federal government shutdown three weeks ago, the central bank has been cut off from vital economic data that the Fed typically relies on to guide its policy decisions. Analysts have compared the situation to a pilot attempting to land a plane blind.
Democrats are talking to their voters who are desperate to fight. Republicans rarely reach beyond their base. And President Donald Trump, supposedly the world’s greatest dealmaker, is tuned out. This Washington stasis explains why no end is in sight to a government shutdown now tied for the second-longest ahead of Trump’s expected departure for Asia at the end of the week for summits.
Investors can use cryptocurrency to buy commercial real estate assets, but it’s the blockchain, where crypto lives, that the commercial real estate industry is finally, albeit slowly, adopting. Tony Giordano, founder of the Opulent Agency, describes the blockchain as a great, big virtual filing cabinet, where billions of records can live into eternity without risk. That includes cryptocurrency, mortgage bonds, titles, deeds, literally everything.
The latest Builder Application Survey from the Mortgage Bankers Association (MBA) for September 2025 shows that mortgage applications for new home purchases increased 2% year-over-year. Month-over-month, compared to August 2025’s totals, applications decreased by 5%. “MBA’s estimate of new home sales for September showed a 7% decline to an annual pace of 680,000 units after reaching a 10-month high in August. Given the current delay of the U.S. Census new home sales release due to the ongoing government shutdown, MBA’s estimate provides a leading indicator of the direction of the new home sales market for September,” said Joel Kan, MBA’s vice president and deputy chief economist.
The Mortgage Bankers Association (MBA) projects that 30-year fixed mortgage rates will remain roughly between 6% and 6.5% through the end of 2028, a prospect that would keep affordability pressures in place for prospective buyers. The MBA’s outlook reflects expectations that long-term rates will be held up by fiscal pressures and inflation expectations even as short-term policy rates are trimmed modestly.
PennyMac Financial Services Inc. reported a 33% profit increase in Q3 2025, with net revenues up 42% quarterly. The growth was fueled by strong revenue gains and strategic initiatives, including new product launches and a focus on servicing and subservicing opportunities.
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Down payments are holding steady as the housing market cools, offering a bit relief for buyers—although some regions remain much more affordable than others. The typical down payment buyers paid from July to September 2025 was an average of 14.4%, or $30,400—up roughly $500 from the last quarter but nearly unchanged from a year ago, according to the latest quarterly report from Realtor.com.
For many, the dream of homeownership has always been tied to milestones like marriage and children. But Gen Z is beginning to upend that narrative through a broader trend of no longer waiting for life’s big events to buy property. They’re adapting to affordability challenges in ways that set them apart from the Millennials who bought before them.
Small-business owners want the government back to work, according to a survey of nearly 1,500 of the Goldman Sachs 10,000 Small Businesses participants. For the 20% of small business owner respondents to the survey who rely on government contracts, the duration of the shutdown is forcing them to pull back on spending to make payroll, including hiring, supplies and services.
The housing market in Florida is in the midst of a major change: Inventory is down for the first time in 110 weeks, according to Compass chief economist Mike Simonsen. But it’s not for the reason you might think. Florida’s housing market was one of the hottest during the pandemic due to the state’s appeal to remote workers, retirees, and investors who relocated from high-cost states like New York and California seeking more space, lower taxes and lenient COVID restrictions. But now, Florida’s inventory levels are dwindling for a very different reason.
A generational shift in real estate investment is emerging as $124 trillion moves from baby boomers to younger generations. The Manresa Wilds project in Norwalk, Connecticut, showcases this trend, prioritizing public access, sustainability and community benefits over traditional luxury development.
Single-family mortgage origination volume is expected to increase to $2.2 trillion in 2026, up 8% from $2.0 trillion expected in 2025, according to the Mortgage Bankers Association. Purchase originations are forecast to increase 7.7% to $1.46 trillion in 2026, while refinance originations are expected to increase 9.2% to $737 billion.
Despite the risk, regulators will allow financial institutions to make loans that would typically require flood insurance, even though the authorization for the National Flood Insurance Program has lapsed. As explained in the Interagency Questions and Answers Regarding Flood Insurance, in Q&A Applicability 12, lenders may continue to make loans without flood insurance coverage during this time but must continue to make flood determinations; provide timely, complete, and accurate notices to borrowers; and comply with other applicable parts of the flood insurance regulations.
Also known as vacant lot fraud, this scheme has become one of the fastest-growing threats in real estate, and the scale of the problem is staggering. The average title insurance fraud or forgery claim exceeds $143,000. While seller impersonation fraud is sophisticated, it’s still preventable. With the right awareness and protocols, title professionals can spot the warning signs and stop criminals before they reach the closing table. Read on for seven strategies to put into practice to protect yourselves and your clients, including resources developed by ALTA to help protect against seller impersonation.
A Cleveland woman says her late mother’s home was sold more than a decade after her death through a forged property deed — one of a growing number of real estate fraud cases nationwide.
Title insurance is often one of the least understood costs at closing, and for budget-conscious buyers, it can look like an easy place to cut corners. After all, if the title search came back clean, why spend extra on insurance you might never need? But what seems like a harmless way to save a few hundred dollars upfront can create major, sometimes deal-breaking, headaches when it comes time to sell.
International finance chiefs are returning home with a measure of relief over the surprising resilience of the global economy to the cascade of policy shocks through the first nine months of Donald Trump's second U.S. presidency but also drained by seemingly never-ending uncertainty over what lies ahead.
Nine months after devastating wildfires scorched a path of destruction through parts of Los Angeles and surrounding areas, most displaced residents are still struggling to rebuild—with some relying on alternative housing placed on their burned lots.
Property taxes are surging due to increased home values and changes to local tax rates. The good news is that some states have significantly lower property taxes than others. The median tax bill in the U.S. in 2024 was $3,500, up 2.8% from 2023, according to Realtor.com data.
The housing market has stabilized since mid-June 2025, driven by lower mortgage rates and shifting demand dynamics. Despite previous predictions of higher rates, the market has seen increased demand and inventory changes, highlighting the importance of tracking real-time data.
Realtor.com recently polled 1,000 Gen Z American adults (ages 18-27) regarding pursuit of the American dream of homeownership. The study found that Gen Z is united in their concerns over affordability, as 82% of those Gen Z’ers polled who own a home or hope to own a home think buying a home is harder for their generation compared to previous generations. In terms of overall housing affordability, 16% of those Gen Z’ers polled found housing affordability as one of their highest concerns in life.
Applications for new-home purchase mortgages ran ahead of last year's pace in September, but various factors have the leading industry trade group preparing for a near-term slowdown. Purchase applications for new single-family properties increased 2% on a year-over-year basis last month, picking up some momentum after August's flatter 1% rise, according to the Mortgage Bankers Association's survey of homebuilder lending units.
The prospect of a half-point interest rate cut by the Federal Reserve gained momentum this week, as traders ramped up bets on an outsized move and a key central bank official openly backed a more aggressive approach. US Federal Housing will be collecting comments through Nov. 5 on the new plan for its operations, two GSEs it oversees that are in conservatorship, and the Federal Home Loan Banks. (USFH is the new branding the Federal Housing Finance Agency uses.)
The California Mortgage Association recently published an article discussing how title insurance assists lenders in ensuring lien priority. This information is valuable for lender clients, highlighting why title insurance is the most effective product for reducing risk.
A government-sponsored enterprise oversight agency floated a new strategic plan on Wednesday that includes an emphasis on the supply side of the housing market in one portion of three overarching goals.
Mortgage rates drifted slightly lower this week as fresh trade tensions rattled the global bond markets. The average 30-year mortgage rate was 6.27% through Wednesday, down from 6.3% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was 5.52%, from 5.53%.
Now entering its third week and with no end in sight, the effects of the government shutdown are being felt across the country. But some states are feeling the hurt far more than others. While places like Virginia and Maryland are feeling the pain due to the most federal jobs and most federal contract dollars lost, five other states are being most affected due to the decrease in real estate activity in the area.
The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal year, despite a $118 billion increase in revenues from President Donald Trump's tariffs, the Treasury Department reported on Thursday. The results for the year ended Sept. 30, which include nearly nine months of Trump's second term in the White House, compared to a $1.817 trillion deficit in fiscal 2024.
In recent years, many American homebuyers have snatched up new properties with the help of mortgage "buydowns." These incentives from builders temporarily lowered interest rates while the sticker price remained elevated. What seemed like a workaround for high borrowing costs is becoming a cautionary tale as the housing market softens and rates remain high.
A recent Zillow analysis suggests it would take a drop of more than one percentage point—to 4.43%—for the median-income U.S. homebuyer to comfortably afford the median-priced U.S. home. And that assumes a 20% down payment, which many first-time buyers are unable to make.
Wire fraud has become the boogeyman of real estate transactions—ever present, evolving and capable of unraveling deals in seconds. For title and settlement professionals, safeguarding client funds isn’t just a best practice—it’s a duty central to maintaining trust.
Most of the nation’s fastest-growing cities are in Texas, with several outpacing the U.S. average population growth rate of 2.6%, according to a new analysis from RealPage. Among U.S. cities with more than 20,000 residents, 12 of the 15 fastest-growing are located in the Lone Star State — and over half of those are within the Dallas-area apartment market.
Mortgage applications across the US declined in the week ending October 10, 2025 as the pace of both home purchases and refinancing slowed, the Mortgage Bankers Association (MBA) reported.
An overwhelming majority of young adults ages 18 to 27 believe buying a home is more difficult now than it was for previous generations, according to a new survey from Realtor.com.
The story of the 2025 housing market hasn’t been as positive as many industry professionals would like, but the last three months of the year could serve as a warm blanket to an otherwise chilly environment.
U.S. economic activity was little changed and employment was largely stable in recent weeks even as more businesses reported headcount reductions, the Federal Reserve said on Wednesday, reinforcing concerns about labor market softening.
The U.S. Department of Housing and Urban Development has delivered layoff notices to hundreds of workers, including deep cuts in the office dedicated to investigating discrimination in the housing market. Last week, 442 HUD staffers received layoff notices as part of a broader purge of more than 4,100 federal workers across multiple agencies, according to a government declaration in court filings this week.
ALTA ONE 2025 pulsed with the energy of Times Square. That was fitting, considering that this major conference for the title & escrow industry occurred just a few blocks from the iconic New York City landmark. Held Oct. 7-10 at the New York Hilton Midtown, ALTA ONE drew a record-breaking number of attendees—approximately 1,300. Missed the conference? Qualia has you covered with five key takeaways.
America’s real estate is “aging in place” much like its population. The generational wealth transition and the wave of retirements have long been expected as the baby boomers pass on their $80 trillion of net worth. But something unexpected has happened along the way—the housing market froze and older owners stayed where they were or downgraded to compete with younger generations for “starter homes” that were also perfect for retired grandparents to be close to their families.
The American Land Title Association, Washington, D.C., announced that David Townsend has been inducted as ALTA president for the 2025-2026 association year. Townsend has more than 20 years of experience in the title insurance industry.
Before the September Federal Reserve rate cut was even official, mortgage rates began to fall in anticipation, and, as a result, recently hit a three-year low. Some slight upticks followed before mortgage rates decreased again. Rates are now at an average of 6.49% for 30-year fixed-rate mortgages, according to the latest data. That's down significantly from the recent highs of 7% or more that we've seen over the last year. And, there could be more good news on the horizon.
Federal Reserve Chair Jerome Powell has said the central bank will not intervene in secondary mortgage markets to ease mortgage rates, ruling out an idea some have floated to increase affordability for homebuyers.
The federal government shutdown, which began on October 1, is now in its third week with no resolution in sight. It has far-reaching consequences that affect millions of Americans, federal workers and critical services. On Monday, Republican House Speaker Mike Johnson said it could become the longest federal government shutdown in history, adding that he wouldn’t negotiate with Democrats unless they dropped their demands and passed a budget to reopen the government.
The sudden surge in demand for data is fast creating new commercial real estate sectors – not just data centers, but so-called quantum real estate and powered land. The former refers to structures designed to house specialized quantum computers. The latter is land prepared and ready for data center operations, with a focus on obtaining a reliable and sufficient power supply.
New-home sizes have shrunk over the past decade, except in the Northeast – The average size of new single-family homes sold nationwide decreased by 11.2% from 2014 to 2024, from 2,707 square feet down to 2,404. The South experienced the steepest decline (-13.2%), followed by the West (-10.4%) and Midwest (-10.0%). Only the Northeast saw a modest increase (2.1%).
As the government enters its second week of shutdown and Congress continues to seek a resolution, the Trump administration has issued layoff notices to several key agencies. Among them, the U.S. Department of Housing & Urban Development reportedly issued layoff notices to staffers late last week, further reducing the government’s workforce.
A record stock market might have a link to the unaffordable housing market, based on how younger Americans are thinking about their finances. Owning a home has traditionally been the way for U.S. households to build wealth. But today’s high property prices mean younger people either can’t afford to get on the property ladder or think they can earn a better return elsewhere.
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