Housing Wire

AUGUST 26, 2021

The average 30-year fixed-rate mortgage held steady at 2.87% for the week ending in August 26, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates declined slightly to 2.86%. This week’s near constant mortgage rates may not yet reflect a rise in U.S.

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Mortgage Inventory Government Construction 464

Housing Wire

FEBRUARY 16, 2023

The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates. This is why construction workers haven’t been laid off while other jobs in the housing market have been.

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Construction Housing Market Inventory Mortgage 470

Housing Wire

APRIL 23, 2024

Three of the biggest topics in housing right now are mortgage rate movements tied to Federal Reserve policymaking, the day-to-day moves in key housing data and forward-looking trends for the housing market. So, if all of you are looking for a sustained lower move in mortgage rates, that’s what you’re going to see.”

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Inventory Housing Market Sellers Marketing 403

Housing Wire

JULY 26, 2022

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. We talked about this in March , and even last year, when I wrote about the problem with the housing construction boom premise. “I don’t expect a boom in housing construction.

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Construction Housing Market Inventory Marketing 498

Housing Wire

MAY 23, 2023

Last year, sale levels were meager and once mortgage rates fell and the builders were buying down rates to get more homes sold, the data stabilized and moved higher slowly. This is different from the 2007 housing market when the builders’ sales were still collapsing and monthly supply spiked with rising cancellation rates.

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Inventory Housing Market Construction Marketing 516

Housing Wire

JUNE 18, 2023

Mortgage rates were near 7% last week but purchase applications were still able to pull out an 8% week-to-week gain. Active housing inventory grew while new listing data fell. Mortgage rates hardly budged last week, even with the Federal Reserve ‘s announcement it was pausing rate hikes and CPI inflation reports.

Housing Market 451

Housing Market Marketing Inventory New Listings 451

Housing Wire

AUGUST 18, 2021

in July compared to the prior month, an indication that construction supply lines are still choked and near record-high home prices are shutting out scores of buyers. “There are now almost 690,000 single-family homes under construction – the largest number since 2007. Housing starts in the U.S. million units. .

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Supply Chain Construction Inventory Buyers 483

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. “I higher than last year.

Mortgage 375

Mortgage Loan Officers Inventory Retail 375

Housing Wire

DECEMBER 29, 2022

The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Housing inventory.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

Housing Wire

JUNE 16, 2021

The total number of homes under construction increased 1.2% — the 12th consecutive monthly increase and its highest level since 2007. Permits for new construction by homebuilders dropped 3%, largely because lumber and building material costs kept prices high. Single-family housing starts in May were at a rate of 1.1 from April.

Real Estate Agent 464

Real Estate Agent Construction Real Estate Inventory 464

Housing Wire

JUNE 27, 2023

In 2007, we had more than 4 million total active listings, which was too much supply for the builders to compete effectively. NAR total active listings data going back to 1982 : This explains why the builders and new homes are doing better than the existing home sales market, which deals with higher mortgage rates and low active listings.

Construction 480

Construction Inventory Marketing Buyers 480

Housing Wire

NOVEMBER 17, 2022

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. months and above.

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Contracts Construction Supply Chain Marketing 536

Housing Wire

MAY 3, 2023

The Federal Reserve (Fed) raised its key federal funds rate for the 10th consecutive time, announcing a 0.25% rate hike Wednesday to 5% to 5.25%, a level they have not reached since 2007. ” The Fed reiterated that it would continue to reduce its holdings of Treasury securities, agency debt and agency-backed mortgage-backed securities.

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Real Estate Agent Inventory Loan Officers Mortgage 370

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%

Mortgage 383

Mortgage Inventory Housing Market Construction 383

Housing Wire

DECEMBER 29, 2020

Home prices have continued to increase this year as a result of low inventory and high demand for homes. How the mortgage industry is working together to make housing more affordable. Larger homes have become more popular as more homeowners are working from home, becoming a main driver for construction. respectively. “The

Buyers 542

Buyers Construction Realtors Inventory 542

Will Springer Realtor

SEPTEMBER 8, 2021

Builders began construction on just under a million single-family homes in 2020. That’s the most since 2007. Some mortgage companies are helping RSU holders to include this potential future income in the formula to determine a buyer’s credit worthiness. And many of the new projects are larger than in years past. That’s fair.

Construction 36

Construction Inventory Buyers Real Estate 36

Empire Appraisal Group

JULY 6, 2022

s rising demand and lack of construction will probably offset a potential cooldown. The average interest rate on a 30-year fixed mortgage was 5.48% Thursday, an increase of 7 basis points over the past week, according to Bankrate.com. Unlikely to Feel Impact from Slowing Market. markets, but Fla.’s WEST PALM BEACH, Fla. –

Marketing 78

Marketing Landlords Real Estate Tenants 78

Will Springer Realtor

JULY 11, 2023

While the boost in available inventory in King County is welcome, it’s important to note that the number of new listings is 26% lower than in June 2019 when the housing market was red hot. Mortgage rates higher than in recent years exacerbate the lock-in effect in the resale housing market. This is nothing new.

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Housing Market Buyers Inventory Real Estate 36

Appraisal Today

MAY 26, 2023

NOTE: Please scroll down to read the other topics in this long blog post on appraisal “modernization”, bias hearing, bad appraiser, USPAP, unusual homes, mortgage origination stats, etc. == Appraiser pleads guilty in $1.3B Varies widely around the country. == Mortgage applications decreased 4.6 billion tax fraud scheme.

Easement 52

Easement Contracts Appraisal Inspection 52

Will Springer Realtor

DECEMBER 8, 2021

housing starts, when builders break ground and lay a foundation, are forecast to finish this year at 1.04M single-family homes, the first time since 2007 the figure will exceed a million. Amid rising land and construction costs, permits for single-family homes in King County slowed in the third quarter to 940, down 7.8%

Sellers 36

Sellers Marketing Supply Chain Construction 36

Will Springer Realtor

JUNE 9, 2021

Adjustable-rate mortgages were cheap and easy to acquire, home prices were artificially inflated and supply plentiful. Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. Then the housing bubble burst.

Housing Market 36

Housing Market Marketing Inventory New Listings 36

Will Springer Realtor

MAY 9, 2022

All this tech construction gives new meaning to IT architecture! “A Another 1350 are under construction with delivery in the next two years, including the high-end Avenue Bellevue. This looks a lot like the housing boom that we saw prior to the 2007–09 financial crisis.” million sq. The potent combo of rising U.S.

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Architecture Design Buyers Construction 36

Assurance Financial

NOVEMBER 9, 2021

Because in a buyer’s market, there’s more housing inventory and lower prices, giving power to the buyer. This economic decline can cause homeowners to sell their houses if they can no longer afford to pay their mortgages, increasing housing inventory and shrinking the buyer pool. Marketing Strategies.

Marketing 36

Marketing Sellers Buyers Real Estate 36

Will Springer Realtor

MAY 12, 2021

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. Today, 37% of all buyers are Millennials and they comprise about 54% of all mortgage applications. Now, home builders would need to construct as many as 1.2 points at 34.

Real Estate 36

Real Estate Inventory Buyers Construction 36

Will Springer Realtor

OCTOBER 11, 2022

At what point will mortgage interest rates peak? While investors of mortgaged securities help dictate their interest rates, the Federal Reserve is behind the scenes influencing the overall lending environment. When you raise [mortgage] rates to the point they’re at today, it breaks the back of housing.”.

Housing Market 36

Housing Market Marketing Buyers Real Estate 36

Appraisal Today

OCTOBER 21, 2022

Inventory levels. NOTE: Please scroll down to read the other topics in this long blog post on unusual homes, mortgage origination stats, etc. The vault is constructed with 4-foot-thick, reinforced concrete walls and is plumbed for a fire suppression system. It started in 2007 in Vacaville, near Sacramento, CA.

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Appraisal Marketing Contracts Insurance 52

Houston Properties

JANUARY 13, 2021

Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007. In addition, mortgage rates are at an all-time low. Some companies are offering 30-year fixed-rate mortgages for less than 2.3%. How Is My Neighborhood Doing?

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Housing Market Marketing Real Estate Realtors 68

Houston Properties

JANUARY 12, 2022

The buying frenzy and low inventory we saw last year and will continue to see for better parts of this year may push buyers (specially if driven by bad advice from an unseasoned Realtor) to make bad decisions. Case Study #2: Buying “Pretty” New Construction, Overlooking Limited Land & Freeway Proximity. Quality of construction.

Real Estate 36

Real Estate Marketing Real Estate Agent Realtors 36

Will Springer Realtor

MAY 9, 2023

Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%. years, according to recent data, when it was only about five years just before the housing market crash of 2007. They include Nexus , The Emerald , KODA and Spire.

Real Estate 36

Real Estate Modernization Construction Supply Chain 36