Freddie Mac: Mortgage rates tick up slightly to 3.58%

Freddie Mac | August 29, 2019

Although the average U.S. rate for a 30-year fixed mortgage rose this week, the rate still managed to hover near last week’s 3-year low, according to the latest Freddie Mac Primary Mortgage Market Survey. According to the company’s data, the 30-year fixed-rate mortgage averaged 3.58% for the week ending August 29, 2019, up from last week’s rate of 3.55%. A year earlier, the rate was 4.52%

Spotlight

Many investors are fearful of approaching private money. In this installment of our Private Money Series, I’m demystifying private money, and sharing three simple steps to approach a private investor.

Spotlight

Many investors are fearful of approaching private money. In this installment of our Private Money Series, I’m demystifying private money, and sharing three simple steps to approach a private investor.

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REAL ESTATE TECHNOLOGY

Lower.com Creates MortgagePass to Help Customers and Real Estate Agents Win

Lower | June 15, 2022

Amidst a growing number of cash offer products, Lower.com, the multi-channel fintech aimed at creating wealth through homeownership, is launching MortgagePass to help customers get their dream home with that it refers to as the ultimate cash offer, while continuing to work with their preferred real estate professional. We recognize the immense value real estate agents bring to this transaction. All too often, customers are forced to unhook from their agents or pay an additional fee to retain their agents in order to offer cash on a home. We want our customers to benefit from the expertise of their local agents while also gaining the competitive advantage of offering cash, as nearly a third of purchases are cash offers." Dan Snyder,co-founder and CEO Through the program, customers will be pre-approved for a mortgage through Lower.com. Then, they can shop for a home and place an offer that is backed by cash. They will continue to finance as normal, and if it gets delayed, Lower.com will purchase the house in cash. Once financing is complete, Lower.com will sell the home to the buyer for the original purchase price. Customers who use MortgagePass™ also have access to a simple application and tech platform, low fees, and the ability to choose their own loan term, in addition to their own agent. They'll also get access to extended rate locks and if rates drop, they'll be lowered for free. "Giving customers a smooth experience with more certainty is our top priority. We want them to feel at ease during the process and focus on finding the right house, not on financing," said Snyder. "We also want them to know that if the market changes, they'll still get the best deal and won't miss out on lower rates." MortgagePass™ is launching in Columbus with plans to quickly expand throughout 2022. About Lower Lower's multi-channel fintech platform helps consumers build wealth through homeownership, no matter where they are in their life's journey. Our products for mortgage, banking, insurance, and real estate provide customers with an intuitive ecosystem to simplify their homeownership goals, whether it's their first home or their last. Lower is a national and local best place to work, and the naming rights partner of Lower.com Field, home of the Columbus Crew.

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BROKERAGE,HOME AND DESIGN

HUB International Partners with RESAAS to Simplify the Home Insurance Process

HUB International and RESAAS | August 03, 2022

Hub International Limited (HUB), a leading global insurance brokerage and financial services firm, today announced its partnership with RESAAS Services Inc., a technology platform for the real estate industry, for clients of RESAAS agents to access VIU by HUB, a digital brokerage platform for transactional personal insurance created for customers who want a digital-first experience with human interaction and advice. HUB launched VIU by HUB in June 2022 and is quickly gaining interest and adoption by partners like RESAAS, which reflects a growing number of relationships in the real estate industry, financial services, and auto dealer sector. "VIU by HUB is a game changer, and our exclusive partnership with RESAAS and its network of 500,000 real estate agents is the type of relationship we had in mind when we first launched our innovative digital-first brokerage platform, VIU by HUB allows RESAAS agents across the U.S. to tap into the expertise and insurance relationships HUB has cultivated and offer their clients a streamlined digital experience to purchasing insurance -- adding value to RESAAS's already stellar real estate services." -Bryan Davis, EVP, Head of VIU With the ever-changing consumer landscape demanding choice, VIU by HUB meets customers where they are and gives them the freedom to secure insurance how they want. Tom Rossiter, CEO of RESAAS added, RESAAS continues to expand our offering beyond the real estate transaction to deliver value for our real estate professionals before, during and after a home purchase. When reviewing the insurance landscape, VIU by HUB's personalized approach offers the right experience for the 500,000 RESAAS agents and their clients. RESAAS is proud to partner with VIU by HUB as our exclusive insurance partner within the global RESAAS platform. Under the terms of the agreement, HUB has joined RESAAS's Ancillary Services division that enables RESAAS agents to generate additional, non-transactional recurring revenue by introducing their clients to select, nationwide and best-in-class partnerships endorsed by RESAAS. HUB and RESAAS will share in the commissions generated by sales from this partnership. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 14,000 employees in offices located throughout North America, HUB's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, please visit www.hubinternational.com. About RESAAS Services Inc. Headquartered in Vancouver, Canada, RESAAS (TSX-V: RSS,OTCQB: RSASF) is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations. For more information, please visit https://www.resaas.com.

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REAL ESTATE INVESTMENT

ExchangeRight Fully Subscribes 26-Property, $134 Million Net-Leased Portfolio

ExchangeRight | May 13, 2022

ExchangeRight, one of the nation's leaders in diversified real estate investments and strategies, has fully subscribed its $134 million Net-Leased Portfolio 52 offering, which features 449,424 square feet of retail, medical, banking and pharmacy tenants. The portfolio was structured to generate accelerating investor distributions starting at an annualized rate of 6.00 percent. Net-Leased Portfolio 52 launched with 10-year, fixed-rate interest-only financing at 3.465 percent. The $134,280,000 offering contains 26 single-tenant properties over 15 states ranging from the southwest to the northeast United States. CVS Pharmacy, Dollar General, Walgreens, Tractor Supply Company and Family Dollar stores as well as First Midwest Bank have multiple locations in the portfolio. Dollar Tree, Fresenius Medical Care, Hobby Lobby, Natural Grocers, Octapharma and Sam's Club also have locations in the 100-percent-occupied portfolio. We are pleased that the diversity and size of our newest DST allows us to accommodate the wealth management needs of investors seeking resilient passive income. We are honored by the trust that investors and their representatives and advisors continue to place in us for their wealth management and retirement needs with each offering we fully subscribe. We are proud to provide another ExchangeRight offering intended to produce stable income through economic cycles, defer taxes, preserve wealth and provide a strategic exit for our investors." Warren Thomas, a managing partner at ExchangeRight ExchangeRight and its affiliates' vertically integrated platform features more than $4.9 billion in assets under management, diversified across more than 1,100 properties, more than 20 million square feet and throughout 46 states. More than 6,800 investors have trusted ExchangeRight to manage their capital. All of the company's current and past offerings have met or exceeded targeted cash flow distributions to investors since the company's founding. The past performance of ExchangeRight and its previous offerings does not guarantee future results. About ExchangeRight ExchangeRight pursues its passion to empower people to be secure, free and generous by providing REIT, fund and 1031 DST portfolios that target secure capital, stable income and strategic exits. The company strategically syndicates net-leased portfolios of assets backed primarily by investment-grade corporations that successfully operate in the necessity-based retail and healthcare industries, as well as diversified value-add portfolios of inline and outparcel retail spaces shadow-anchored by strong-performing grocery tenants.

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