In today's ever-changing property market, decisions can be swayed by fluctuating interest rates, population shifts, affordability concerns, and climate challenges. However, one constant remains to provide a clear path forward: data-driven insights . From guiding high-level business decisions to shaping regulatory policies, data has become the cornerstone for professionals navigating the property market. But with the proliferation of data comes the challenge of harnessing its potential. Where doe...
Apr 03, 2024•25 min
In the telecommunications industry, navigating infrastructure investments to draft a road map for 5G success is a complex but necessary undertaking. Success requires both location intelligence and geospatial data. As the needs for 5G infrastructure increase in parallel with the demand for connectivity for everything from core networks to self-driving cars and wearable devices, it’s imperative to not only understand how much connectivity to provide today but also where it will be needed tomorrow....
Mar 20, 2024•21 min
Soaring U.S. rental prices have prompted discussions about the nation's trajectory towards a renter-centric society. From the exorbitant rental prices in Miami to the ongoing wisdom that homeownership is an advantageous financial decision, as renters and homeowners search for affordability and stability, they will need to navigate an increasingly complex market. With rental costs experiencing a staggering 30% increase over a three-year period, this episode of Core Conversations examines various ...
Mar 06, 2024•25 min
It already seems like 2023 is long ago, but the consequences of natural disasters and the lessons we’ve learned from them are far from the past. Record-breaking hailstorms; devastating wildfires in Lahaina, Hawaii; and other catastrophic events made global headlines , and for good reason. Historical patterns are changing – just look at the increasing rapid intensification of storms and sea-surface temperatures. However, changing climate patterns do not mean that there is no way to ensure resilie...
Feb 21, 2024•25 min
Insurance is a topic of perennial interest, but it is not often discussed for furthering cutting-edge technologies like generative AI and machine learning. However, Insurtech, with its ability to redefine business models and leverage cutting-edge technologies , has left an indelible mark on the insurance industry landscape. Whether it’s a homeowner navigating insurance policies or an industry professional charting the course for future business growth, Insurtech’s broad reach has enabled compani...
Feb 07, 2024•23 min
As the claims and restoration business adapt to pressures of surging inflation, persistent labor shortages and the escalating frequency of natural disasters, automation has emerged as an investment avenue to help streamline processes and enhance efficiency. However, not all technology solutions are created equal. In an industry when data fidelity is crucial for those in the field and automation is increasingly a stopgap amid ongoing staffing challenges, the insurance claims industry is increasin...
Jan 24, 2024•22 min
In the first episode of Season 4 of Core Conversations, Host Maiclaire Bolton Smith and CoreLogic Chief Economist Selma Hepp dive into the aftermath of the pandemic's influence on migration patterns and how remote work has reshaped the housing landscape. While the pandemic may no longer dominate headlines, it continues to exert its influence. Remote work opportunities flourished, prompting an exodus from high-cost coastal metros to more affordable regions. This migration then spurred home price ...
Jan 10, 2024•27 min
What is the future of the U.S. economy? Host Maiclaire Bolton Smith and CoreLogic Chief Economist Selma Hepp dive into this perennial question in the final episode of Core Conversations: Season 3. From incremental home sales increases to gradually declining mortgage rates, there is a lot that we can expect to happen in 2024. However, geopolitical risks, such as oil prices and inflation , have the potential to impact the trajectory of mortgage rates and change the development of the overall housi...
Dec 06, 2023•10 min
In the season finale of Core Conversations, host Maiclaire Bolton Smith and CoreLogic Chief Economist Selma Hepp dive into a discussion about the dynamic landscape of the U.S. housing market in 2023. This year, mortgage rates surged by almost 500 basis points, home prices catapulted by 42% over three years and mortgage payments witnessed a staggering 60% hike. This episode peels back the layers of the housing market, exploring the sometimes-contrasting contexts of the real estate sector with the...
Nov 29, 2023•24 min
Ever wondered why the U.S. mortgage market offers 30-year, fixed-rate mortgages and what impact this unique loan offering has on housing prices? This is a question that host Maiclaire Bolton Smith and CoreLogic Professional Economist Thom Malone dive into during part two of this episode on the differences between the U.S. and international housing markets. From the surprising benefits of the U.S. system for homeowners to the potential hazards in concentrating mortgage risk, this conversation exp...
Nov 15, 2023•16 min
Property is the world’s largest asset class, so any fluctuation within this market has far-reaching effects. Just consider how property values in countries like Australia, New Zealand, Canada, the U.K., and the U.S. have sent ripples throughout the global economy. There are many factors that affect the housing market, and one is the amount of investment activity. Investors contributed to the dramatic home price growth seen in recent years. The surge in investor activity significantly impacted ho...
Nov 08, 2023•23 min
Instances of mortgage fraud have remained relatively stable in recent years. In the second quarter of 2023, CoreLogic estimates that 1 in 134 applications contained fraud, up from 1 in 131 during the same period in 2022. But that doesn’t mean that lenders shouldn’t be on the lookout for warning signs. In the 2023 Mortgage Fraud Report , researchers found that suspected occupancy loans have nearly tripled since 2020. This type of fraud, which is difficult to spot during origination, typically occ...
Oct 25, 2023•14 min
Elevated interest rates have had ripple effects across the U.S. property market. From the appearance of the lock-in effect, which has slowed down home purchases , to increasing questions of affordability , the climbing cost of taking out a mortgage has spurred many to consider how to lower the price tag. One trend that CoreLogic® has spotted in the property market is an increase in suspected occupancy fraud. In the 2023 Mortgage Fraud Report , researchers found that suspected occupancy loans hav...
Oct 18, 2023•18 min
Wildfires are an annual occurrence in many areas of the U.S. However, as our climate changes, fires are beginning to ignite in areas that are traditionally at low risk. Just look at the Hawaiian island of Maui . Despite the increasing number of regions experiencing wildfires, only about 9% of U.S. properties meet the threshold for high or extreme wildfire risk. So how exactly is this risk measured and what role can mitigation play in reducing this natural danger? In this episode host Maiclaire B...
Oct 04, 2023•11 min
Knowing the wildfire risk of a home is becoming increasingly important — both for homeowners and insurers. However, it is insufficient to simply know that there is a probability of a wildfire occurring at a certain property. It is imperative to understand the development of historic risks into current risks and how this score will evolve in the future. After all, low risk today does not mean no risk tomorrow. While only about 9% of U.S. properties meet the threshold for high or extreme wildfire ...
Sep 27, 2023•20 min
El Niño has undoubtedly impacted the 2023 hurricane season. But it is not the only weather pattern that is exerting influence. Ocean temperature — also known as sea surface temperature — is also driving the storms swirling in the Atlantic Ocean. As reports of record-breaking temperatures in the Atlantic appeared this summer, scientists at the National Oceanic and Atmospheric Administration (NOAA) began to postulate that this season will be an above-average one. As the season progresses, the ques...
Sep 13, 2023•9 min
The 2023 hurricane season has so far been a wild ride — but that shouldn't be a surprise. With the El Niño Southern Oscillation (ENSO) swinging into an El Niño pattern and reports of triple-digit ocean temperatures in the Gulf of Mexico , June through November was bound to bring some noteworthy activity, and that pattern could continue. But what does the combination of El Niño — which is known to dampen hurricane activity — and record-breaking sea surface temperatures in the Atlantic have to do ...
Sep 06, 2023•16 min
More and more people live in high wildfire-risk areas across the United States. In fact, according to CoreLogic’s 2023 Wildfire Risk Report , California, Colorado and Texas lead the nation in the number of at-risk homes and their total reconstruction cost value. The influx of people into these areas means that there is continued demand for insurers to provide coverage, even though climate change is increasing the potential for and the severity of these wildfires. While some insurance companies h...
Aug 23, 2023•11 min
Home insurance is a critical consideration when applying for a mortgage. Without insurance, it’s exceedingly difficult to purchase a property. However, with climate change influencing weather patterns and contributing to the increasing severity of natural disasters, some insurers are reassessing their coverage to better manage their risk. Insurance risk management is a topic that has cropped up in several U.S. states. This summer, Allstate and State Farm announced that they would no longer write...
Aug 16, 2023•14 min
In the ever-evolving landscape of the property market, recent years have been marked by volatility and unprecedented challenges. However, amidst this shifting environment, there is an opportunity for lenders to reassess their back-of-house operations and embrace the transformative potential of modern technology. As the market cools, the stage is set for lenders to revolutionize their processes and cater to the demands of today's discerning consumers. The key lies in embracing automation and digi...
Aug 02, 2023•17 min
The last several years have been volatile for the property market. However, as the market is slowing, that is freeing up space for lenders to consider their back-of-house processes and rehabilitate them to accommodate the demands of modern consumers. Largely, that means automating and digitizing processes. Think automated underwriting of the borrower and the property, think about a fully digital experience to close alone. And this is really where the future lies for the mortgage industry. By sep...
Jul 26, 2023•19 min
When it comes to financing a home in the current real estate market, the interest rate on a loan is of chief concern for buyers. That has resulted in a growing interest in rate locks from buyers, sellers, builders and lenders. In fact, rate locks as a negotiation technique have bubbled up to the surface as another tactic for lenders looking to secure loans in the current economy. In Part 2 of this episode, host Maiclaire Bolton Smith continues the conversation with CoreLogic Principal Economist ...
Jul 12, 2023•14 min
Anyone who is buying a home with a mortgage almost certainly talks to their lender about interest rates. With real estate market trends defined by some of the highest interest rates in decades and annual home price growth reaching its lowest level in more than a decade , purchasing a property is an undertaking that requires buyers to look at the data and do the math. The current environment is also opening up rate locks to become a negotiation tactic — a technique that falls in and out of favor ...
Jul 05, 2023•18 min
Modernization can be boiled down to an equation. The more data and automation available to improve the overall mortgage origination process, the more the overall cost to originate the loan goes down. In fact, one of the industry’s largest organizations, the Mortgage Industry Standards Maintenance Organization (MISMO), is working steadily to streamline the mortgage origination process by replacing paper forms with digital processes. In this episode, host Maiclaire Bolton Smith sits down with Sage...
Jun 21, 2023•13 min
The word “mortgage” evokes myriad responses depending on one’s relationship with homeownership. But one thing is certain: Mortgages are a big deal for the U.S. — and global — economy. These property payment plans support a large portion of one of the world's largest asset classes and are, therefore, highly scrutinized. This has led to the mortgage industry garnering a reputation for slow processes and a hesitation to adapt to modern technological innovations. However, reputations are not always ...
Jun 14, 2023•15 min
As climate change continues to influence weather patterns, not all areas of the U.S. will be equally exposed to natural hazard risks. While some locations may not be ideal choices for property investment in the future, there are other areas that data scientists have demonstrated will be sheltered from the damaging effects of natural catastrophes. In Part 2 of this episode, host Maiclaire Bolton Smith continues the conversation with CoreLogic Chief Scientist Howard Botts to see where the safest p...
May 31, 2023•18 min
Natural catastrophes have long been of concern to the housing and property markets. However, as these events increase in severity and frequency, climate change data science is projecting that not all areas of the U.S. will be equally exposed to these risks in the future. Despite the popularity of some migration destinations with Americans, data analysis indicates that, depending on how dramatically current climate patterns change, many of these locations may not be ideal choices for property inv...
May 24, 2023•13 min
As annual home price growth reached its lowest level in more than a decade , all eyes are on the housing market as a bellwether for the larger economy. In Part 2 of this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what is really happening in the housing market and what low inventories, high interest rates and lack of upcoming supply mean for real estate. Up Next: Listen to Molly Boesel talk about myths in the housing market on Core Co...
May 10, 2023•16 min
The real estate market is one of the largest asset classes in the world. So, when economics shift in the sector, the larger economy feels the ripple effects. Recently, interest rates have been the highest in decades, home prices have seen the lowest recorded rise since 2019 and nearly 60% of homes sold below list price in March 2023. However, zooming out and looking at the bigger picture reveals that some of these trends shouldn’t be as surprising as they seem, and, maybe, they were even predict...
May 03, 2023•15 min
In Part 2 of this episode, host Maiclaire Bolton-Smith continues the conversation with CoreLogic’s Senior Catastrophe Response Manager Jon Schneyer to explore the ongoing impact of Hurricane Ian on Florida’s insurance and reinsurance industries. In this installment, the two will talk about what the CoreLogic team actually saw when they went to southwestern Florida to observe the hurricane damage and how this helps improve models that can better secure the future of homeowners and insurers that i...
Apr 19, 2023•14 min
