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Wire Fraud Alert

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Realtors®, Real Estate Brokers, Buyers and Sellers are targets for wire fraud and many have lost hundreds of thousands of dollars because they simply relied on the wire instructions received via email.

A hacker will break into a licensee’s email account to obtain information about upcoming real estate transactions. After monitoring the account to determine the likely timing of a close, the hacker will send an email to the buyer, posing either as the escrow agent or as the licensee. The fraudulent email will contain new wiring instructions or routing information, and will request that the Buyer send funds accordingly.

>> Learn how to be WireSafe

Local Real Estate Trends

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Monterey County is home to one of Fidelity National Title Group’s most dynamic title brands and real estate teams. Chicago Title Monterey serves the residential and commercial real estate industry. Our offices are strategically located throughout Monterey County, and include teams that live and work in 4 offices located in: Salinas, Carmel and Monterey.

Our team of professionals works in all facets of the real estate industry, providing best-in-class real estate services to buyers and sellers in the area, as well as the real estate professionals, lenders, builders and attorneys that work alongside them. In addition to our commitment to the residents of Monterey County, we provide commercial services to investors who help keep our economy strong.
Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the Newsdesk.

The Latest Articles From the Newsdesk:

Reverse mortgages see steep monthly pullback in September
...mortgages only and excludes proprietary products.  At the same time that mortgage rates have climbed, reverse mortgage lenders find themselves facing a growing list of nonbank originators offering...

By August 2023 home price growth will slow to 3.2%
...0.7% from July.  The increased cost of homeownership is dampening home buyer demand, thereby stalling home price growth, the report said. Concurrently, high mortgage rates are pushing down the...

Coming CPI Inflation Reports Could Spike According To Most Recent Forecasts
...further concern for markets and perhaps more risk for the U.S. housing market too.

LoanDepot has cut its funding capacity by $1 billion
...of the past seven weeks, according to the Mortgage Bankers Association, and mortgage rates are approaching 7% after climbing 41 basis points last week to 6.7%, according to Freddie Mac. The turbulent...

Home Buyers Getting 9% Less Space Than Last Year Thanks To Spiking Mortgage Rates
...American home buyers are getting significantly less bang for their buck as mortgage rates hover at their highest level in 16 years, according to a Tuesday report from real estate broker Redfin...

Best Jumbo CD Rates for October 2022 - CNET
...are plenty of traditional CDs insured by the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) up to $250,0000 that offer a higher APY than those marketed...

High Mortgage Rates Mean Smaller Homes For Many Buyers
...conversation bubble to join the conversation Got it! The sharp increase in mortgage rates to their highest level in 15 years is not only cutting into home buyer budgets across the country, but...

Manhattan's housing market is starting to cool with sales stalling prices set records and vacancies stay low. Ismail Ferdous/Bloomberg The Manhattan housing market is calming down.  Sales of co-ops and condos dropped 3.7% in the third quarter from the...

Housing Letter: Changing The Narrative On Housing
...there is to be any success in the effort to stabilize the housing market, to create a housing economy that isn’t so volatile that it creates prices swings that truly hurt people with less money...

Current national mortgage and refinance rates, October 4, 2022 | Rates rise
...Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans increased. Mortgage rates have been on a wild ride as of late, with the 30-year fixed now past 6 percent as the Federal Reserve...