Housing Wire

MAY 18, 2023

We don’t have a massive credit boom as purchase application data is at historical lows; we haven’t had the same run-up in credit as we saw from 2002-2005. If we had a massive credit boom-to-bust, inventory would have skyrocketed in 2022. NAR Total Inventory Data going back to 1982. million, up from 1.03 million last year.

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Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. NAR Research : Unsold inventory sits at a 1.7-month

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Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

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Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Housing inventory issue with no booming demand. However, we haven’t had a credit sales boom like the one we saw from 2002-2005. million listings.

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Housing Wire

JUNE 22, 2023

I first used the term savagely unhealthy in March of 2022 because we had solid demand while inventory was at all-time lows. Credit channels and inventory channels both changed after 2010 because of the qualified mortgage laws and the 2005 bankruptcy reform laws. million would mean much better mortgage demand.

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Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Plus, available housing inventory remains near historic lows.”

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Inventory New Listings Housing Market Sellers 502

Housing Wire

APRIL 20, 2022

However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. Housing demand has been stable for the past few years; we have never had a credit boom in demand since 2002-2005. Unsold inventory sits at a 2.0-month

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Housing Wire

SEPTEMBER 8, 2022

When mortgage rates fall, the majority of homebuyers (including homeowners who need to sell to buy another home) are mostly employed, so lower rates greatly benefit them, and housing demand increases. This can lead to home prices getting out of control , especially when total inventory gets to all-time lows.

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Housing Wire

OCTOBER 12, 2020

Some of their biggest hits (or should I say misses) in the last 8 years have been the never-realized silver tsunami crash, the ever popular investor supply crash, the Airbnb supply crash, and this year, COVID-19 was for sure going to send prices crashing 30%-50%. Mortgage demand, too, is at an 11-year high.

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Inventory Housing Market Marketing Mortgage 545

Housing Wire

MAY 24, 2022

A few months ago, I wrote that the new home sales sector is at risk because of rising mortgage rates. As you can see, sales levels were never elevated like what we saw from 2002-2005. This housing cycle is and will always be based on real demand, versus the credit boom we saw from 2002 to 2005. Slow and steady wins the race.

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Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. in 2005, the MBA said. The mortgage industry is different from 14 years ago.

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Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. The chart below shows interest rates for the 30-year fixed-rate mortgage will end this year at about 3% and could hit around 3.3%

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Mortgage Inventory Housing Market Construction 380

Housing Wire

APRIL 8, 2021

As we enter the second quarter of 2021, it’s time for the mortgage industry to reflect on the past 12 months and think about how to plan for the same period ahead. Low mortgage rates, driven by quantitative easing by the Federal Reserve helped fuel a boom in both mortgage refinancing and purchases, making 2020 the second-best year in U.S.

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Development Lending Mortgage Marketing 412

Housing Wire

JUNE 8, 2022

2012: What they said: Shadow inventory will cause prices to fall. The reality: Inventory broke down in 2012, and the monthly supply data got below 6.0 The “shadow inventory” was not an issue as it took years to get rid of the distressed supply from the housing bubble years. million.

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Inventory Housing Market Marketing Mortgage 545

Housing Wire

JANUARY 20, 2022

From NAR: In the last few months of the year, existing home sales have been outperforming my sales ranges noticeably, and I talked about how sales could moderate, but mortgage demand ended 2021 on a solid note. million is if home prices accelerate above my five-year cumulative growth rate of 23% and mortgage rates rise. million to 6.2

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Inventory Housing Market Marketing Mortgage 453

Housing Wire

MAY 19, 2022

However, this year has seen one big game-changer: the 10-year yield finally cracked over 1.94%, which drove mortgage rates over 4%. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. Inventory is always seasonal. million and 1.93

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Housing Market Marketing Inventory Realtors 512

Housing Wire

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. More investors keep looking to flip homes … but are making less and less in the process “ ATTOM CEO Rob Barber said.

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Housing Wire

DECEMBER 22, 2021

It’s the same reason I have given for many years: the American bears who are typically housing crash addicts can’t read data correctly, and the mortgage purchase application data just proved my point once again. Then everyone went crazy on investors and iBuyers , suggesting that these people were holding up the entire housing market.

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Inventory Housing Market Investors Marketing 451

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Housing Wire

MAY 9, 2022

housing market is more tied to mortgage buyers. Just last month, Canada’s prime minister proposed a two-year ban on some foreign investors buying Canadian real estate to try to tame price growth. We are a monster compared to them in population and the majority of homebuyers in America use mortgages. While the U.S.

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Buyers Housing Market Mortgage Marketing 525

Housing Wire

APRIL 8, 2022

Home prices are skyrocketing, housing inventory is at all-time lows and homebuyers have to contend with multiple bids. One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy.

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Housing Wire

DECEMBER 20, 2021

Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. The 10-year yield and mortgage rates. That range dictated that mortgage rates would roughly stay between 3.5%-4.75%.

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Housing Wire

MARCH 28, 2022

Industry newsletters are reporting that mortgage lenders are tightening their belts as the cost to manufacture a loan peaks at a decade high of $9,299. mortgage loan originations, the largest annual volume on record since 2005. mortgage loan originations, the largest annual volume on record since 2005.

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Empire Appraisal Group

JUNE 2, 2022

The resulting fundamental-driven higher house prices may have fueled a fear-of-missing-out wave of exuberance involving new investors and more aggressive speculation among existing investors,” said researchers. We saw this around 2005 in Miami where people were buying and there was really no financial reason to buy.”.

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Lamacchia Realty

APRIL 15, 2022

Rates dropped to historic lows to keep buyers buying, prompting an influx of new applications and re-finances as obtaining a mortgage was more affordable than ever. Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever. Available Inventory.

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Appraisal Today

MAY 27, 2022

NOTE: Please scroll down to read the other topics in this long blog post on VA appraisals, appraisal modernization, eliminate VA panel, unusual homes, mortgage origination stats, etc. The market changing again with increasing interest rates, in the inevitable ups and downs of mortgage lending. Mortgage lending from the 1870s to today.

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Will Springer Realtor

DECEMBER 14, 2021

A majority of those said their home no longer meets their needs – space, features, location – and they want to take advantage of favorable mortgage rates. Buyers are seeing rates inch higher – currently at about 3.25% in Seattle/King County for a typical 30-year mortgage (rates vary based on an applicant’s circumstances).

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Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. It looks like the change is starting because of increasing mortgage interest rates. All cash and investors. My Comments on Market Changes. How many offers.

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