Home buyer affordability—a measurement of the overall affordability of homes in certain areas compared to average income—is steadily improving in thirty-two states across the country. The median payment applied for by applicants decreased from $1,844 to $1,839, dropping for the third consecutive month. All of this is according to the Mortgage Bankers Association’s Purchase Applications Payment Index (PAPI).PAPI measures new monthly mortgage payments across time relative to income. Though these are modest improvements, any positives in such a volatile and unpredictable market are good signs for the future.

On July 27th, 2022, Senate Majority Leader Chuck Schumer announced that the House reached an agreement pertaining to the Inflation Reduction Act of 2022. After months of contentious debates between Democrats and Republicans, the latest Act intends to lower inflationary pressures throughout the country. Furthermore, President Joe Biden signed the Act into law mid-August 2022. But how does this impact the United States economy?

In response to the work-from-home movement, remote notarization in Illinois came to fruition. Along with numerous other states, these notions sidestep the face-to-face commute for the closing process.

While initially inspired by the COVID-19 pandemic, remote notary laws stay in place. Now, they play a big role in the future of the title insurance industry and real estate as a whole.

With the recent Fed testimony, Federal Reserve Chairman Jerome Powell assured lawmakers about their plans to bring down inflation. Not only does Fed Chair Jerome Powell seek to avoid a recession, he believes the Federal Reserve has the tools to do so.

As inflation soars and loan applications plummet, real estate analysts are starting to see evidence of a buyers’ market in 2022. For the past several years, many real estate analysts considered the housing market to be a ‘seller’s market’. In the real estate world, home prices rose, interest rates fell, and demand reached one of the highest points in decades. Now, though, that trend may be changing. As the United States housing market shows a slowdown in purchasing, the tide shifts towards buyers instead.

After last year’s record-setting real estate year, 2022 is displaying declining loan originations and refinancing activity. Since the start of the coronavirus pandemic, the housing market has taken center stage while home demand has skyrocketed. As the dust settles, the numbers now point in the opposite direction. As demand wanes, prices surge, and mortgage, refinancing, and loan applications begin to decline.

Owner’s title insurance contains a fascinating history, dating back over 150 years to 1868. In the case of Watson v. Muirhead, the transaction conveyancer discovered that the property in question was under lien. Although an attorney advised the conveyancer that the lien was invalid, a court ruled that it was in fact valid, after all.

As a direct result of the case outcome, a consortium of Philadelphia conveyancers banned together to form the first title insurance entity. With a clear goal in mind, the group set out to prevent innocent home buyers from falling victim to matters such as the aforementioned.Today, many in the real estate industry debate the merits of an owner’s title insurance policy. While lenders typically require their own policy to protect their interests, the same as generally not said for the end homeowner. However, as the real estate market progressively grows in its complexity, we firmly believe that an owner’s policy represents a saving grace for many.

With the United States continuing to witness record-setting inflation levels, Chicago home prices see massive appreciation. Of course, this market correction comes after a two-year period of record-low mortgage rates and a lackluster 2020 real estate year. Hot off the trail of 2021’s real estate market rebound, Chicagoland real estate affordability grows farther out of reach for first-time buyers.

After years of record-low figures, mortgage rates turn volatile as we progress into 2022. With the onset of the novel coronavirus pandemic, mortgage rates plummeted alongside the global economic uncertainty. However, last year, the United States generated a much faster than anticipated economic rebound. In fact, 2021 home sales achieved their best year on record since 2006. One month into 2022, analysts already predict higher mortgage rates before the end of the year.

2021 represented a banner year for real estate, leaving many to inquire about 2022 mortgage rates. Last year, mortgage rates hovered around record low numbers. Real estate experts largely attributed this to the prevalence of the coronavirus pandemic, and its numerous variants.

With 2021’s low interest rates, real estate analysts noticed a surprising trend: demand for second homes. In today’s competitive real estate market, buying one home can be challenging enough. This is especially true in the era of COVID-19. However, analysts did not originally predict current homeowners to lead the charge on purchasing that second property.

Last month, the US Supreme Court pass a vote, which lifted the eviction moratorium. Previously, the Biden administration expanded the eviction moratorium.

The Delta variant spurred a startling mortgage rate plummet as of late. Mortgage rates declined as a result of the increasing economic uncertainties. Analysts attribute the uncertainty to the COVID-19 Delta variant and its mutations. As a result, the average 30-year loan rate fell to a five-month record.

An owner’s title insurance policy is critical for protecting you from all types of issues you might have with the title of your home. It is essential and should never be overlooked by homeowners who want to make sure they are fully protected from title issues that could arise. Here, we will go over some top reasons to never pass on title insurance.

Public record errors have a tremendous impact on property titles. Imagine this. You spend months searching for that perfect dream home. You gain preapproval and sign the contract. The closing process is going smoothly. All of the hard work was worth it, and it’s time to reap the fruits of your labor. Then, all of a sudden, you smash into a major wall.

The property title has public record errors. This wasn’t your fault. But what are the negative consequences?Usually, real estate industry professionals trust public records to be completely true and accurate. But mistakes do happen from time to time. Sometimes, those mistakes affect a homeowner’s title.

First-time home buyers search high and low for real estate closing advice. The real estate closing process generates unfathomable stress, especially for first-time home buyers. Prospective home Buyers await news regarding appraisals, property inspections, and title searches. With so many moving pieces, it is challenging to maintain constant vigilance over the process.

Plymouth Title Guaranty Corporation seeks to mitigate that. Some key pieces of advice (and information) help ease home buyers through their first foray in the world of property ownership.

To most people, the words ‘deed’ and ‘title’ are interchangeable. But there are actually major differences between the two that are important to understand before you start the process of a real estate transaction.

Real estate transactions can be exciting for all parties involved, but without proper research and protection, you can find yourself on the bad end of a title issue that could challenge your rights as a homeowner. Here are a few of the most common real estate title issues and what you can do to protect yourself or prevent them altogether.

What happens when a property owner cannot pay back their debts or fail to pay taxes? Property liens. Though many have heard of them, few know exactly how they work, how to get rid of them, and even how a smart investor can profit from them.