Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. Today, however, the purchase application data is actually down to levels we saw in 2009 ! How can housing inventory be so low today when it skyrocketed back in 2009?

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Housing Wire

DECEMBER 7, 2021

“That works out to nearly $178,000 available in tappable equity to the average homeowner with a mortgage before hitting a maximum combined loan-to-value ratio of 80%.”. Overall, mortgage holders withdrew more than $70 billion in equity in the third quarter, equivalent to just 0.8% will result in the tightest affordability since 2009.

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Housing Wire

AUGUST 15, 2023

Despite persistent inflation challenges, a volatile mortgage market and limited inventory, Keller said it was still a good time to buy a house. “It million sales in 2021, but roughly the same as 2009 to 2012. “If To illustrate his point, Keller highlighted that the industry is projected to see 4.3

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Housing Wire

JUNE 10, 2022

His recent article, “Purchase apps are at 2009 level: where’s the inventory?” takes a deep dive into what the heck is going on with purchase applications, housing demand and inventory levels. This article, for example, asks why, if purchase applications are down to 2009 levels, are inventory levels still so freaking low?

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Miller Samuel

FEBRUARY 12, 2019

When Jeff and Marie asked me to be formally interviewed for their blog " The Apple Peeled " I was happy to do so, especially because I could veer off the road into issues about the current mortgage and appraisal process. The 10-year Challenge (2009 vs. 2019). In 2009, the average discount from listing was 10.2%.

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Housing Wire

MAY 18, 2021

. “I started as an agent up here in 2009, and I’ve been saying since then the only thing that would slow down the market would be some sort of national or international event,” said Pullin, a managing broker at Skyline Properties. But when inventory dropped to a third of its normal amount, everything changed.

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Housing Wire

JANUARY 12, 2022

Early in 2021, when I was talking about how people should worry about home prices overheating, I had a glimmer of hope that maybe toward the end of 2021 we would be spared another seasonal collapse of inventory. Inventory always falls in the fall and winter, but I hoped it wouldn’t be a repeat of 2020.

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Housing Wire

JANUARY 8, 2021

In the new year, Mortgage Bankers Association chief economist Mike Fratantoni said the lack of inventory is the biggest constraint to further growth in home sales for 2021. Despite builder confidence hitting a 35-year-high in November , the census bureau still estimates new home sales have just over a four-month supply.

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Housing Wire

JUNE 18, 2021

In an economic outlook panel at HousingWire’s Engage.marketing event on Thursday, Duncan explained that in the 2007 to 2009 downturn, the industry went from building 2.2 It’s going to take all of them. million units to 600,000, and stayed around that level for three years.

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Housing Wire

JULY 1, 2021

Servicers should also be sharing the mathematics of mortgage forbearance. Being in mortgage forbearance won’t hurt a homeowner’s credit score but exiting forbearance and going into mortgage default will seriously impact their credit score and adversely affect their ability to purchase another house for many years.

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Lamacchia Realty

JANUARY 31, 2024

One of the biggest factors affecting inventory levels in 2023 was listings as they were the lowest since 2009 in Connecticut. Home sales should increase, especially if mortgage rates continue to trend downward or stay as they are now. Southington proved to be no different, with homes listed down substantially year over year.

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Housing Wire

MAY 28, 2021

“I honestly haven’t seen this kind of market for homes in San Jose since 2009.” When potential buyers look at listings in Sacramento, they realize their big-city rent costs more than a mortgage here,” White said. ” Existing San Jose home sales were up 47.9% Active listings in the area have declined by 16.6%

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DW Slater Company

JANUARY 30, 2023

The rocket soon turned and begin its descent in May as mortgage rates began to rise in March. Mortgage rates impact housing as they affect buying power. Mortgage interest rates peaked in November and have been hovering around 6 % for the 30-year fixed rate. As we look at the housing market for 2022, a clear shift has occurred.

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Empire Appraisal Group

JULY 6, 2022

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. Still, most economists are not predicting the catastrophic housing crash of 2007-2009 when there was a surplus of homes nationwide and a market saturated with bad mortgages.

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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

MAY 15, 2024

A lot has been said about the ‘silver tsunami,’ with predictions that baby boomers will move in droves , suddenly unlocking tons of inventory for younger homebuyers. For example, our data shows that Boomers are mostly mortgage rate agnostic — but about half are factoring the upcoming election into their selling timeline.

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Annarbor Appraisal

APRIL 9, 2020

Not that long ago, the United States in general experienced a significant decline in property sales prices due to the Great Recession and the mortgage market fallout. This information clearly shows a declining trend from the 2005 data down to a low point between 2009 and 2011. What happens if the unemployment rate tops 30%?

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Housing Wire

JULY 19, 2023

The extent of the ongoing lack of inventory has exceeded our prior expectation,” the ESR group said in its July commentary. This ongoing lack of inventory, in part due to mortgage lock-in effects, has driven significantly stronger home price appreciation over the first half of 2023 than we had previously anticipated.”

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Lamacchia Realty

DECEMBER 28, 2022

You can infer from the subtitle “ 2023 Will be 1982 all over again” that I’m clearly expecting an early 1980’s scenario, when inflation ran up causing interest rates, including mortgage rates, to spike. But there’s also a lack of sellers because people are reluctant to give up their low mortgage interest rates.

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Appraisal Today

FEBRUARY 9, 2024

Appraisers Riding the Waves of Up and Down Mortgage Rates Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! Construction also jumped during the pandemic as builders responded to surging homebuyer demand fueled by record-low mortgage rates.

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Appraisal Today

JUNE 10, 2022

The Inevitable Cyclicality of Mortgage Lending. NOTE: Please scroll down to read the other topics in this long blog post on declining mortgage loans, real estate market, unusual homes, mortgage origination stats, etc. ==. The hangar was built in 2009, and the home was completed in 2014. Purchase vs. refi appraisals.

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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 A three-year renovation, ending in 2009, converted the upper floors into the 7,000-square-foot penthouse.

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Will Springer Realtor

JULY 11, 2023

The slippage in listings under contract – which is currently at the third-slowest annual pace this century (after 2008 and 2009) – is a barometer for future sales. Mortgage rates higher than in recent years exacerbate the lock-in effect in the resale housing market. The number of Pending listings fell 3.9% This is nothing new.

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Housing Wire

AUGUST 1, 2023

Even as mortgage rates rose, and affordability was pushed out of reach for many potential homebuyers, there are still sufficient buyers who can afford these prices and these rates. After the mortgage rate spike in September 2022, we got significantly more bearish on home prices for 2023. If mortgage rates increase to the 7.5%

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Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. In some ways, 2023 was the year of the homebuilder. There wasn’t much competition from existing homeowners.

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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.

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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. . Mortgage applications increased 6.6 Mortgage applications increased 6.6

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Appraisal Today

JUNE 24, 2022

NOTE: Please scroll down to read the other topics in this long blog post on Changing real estate market, rate increases, desktop appraisals, USPAP and state boards, unusual homes, mortgage origination stats, etc. When mortgage rates last soared this much. Mortgage applications increased 4.2 Click here for more info!

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Housing Wire

JANUARY 19, 2022

Housing demand has outstripped supply since 2009,” First American deputy chief economist Odeta Kushi said in a statement. Experts are attributing the stability of housing starts this year to a slowly improving labor market, low mortgage rates, high demand for housing and an extremely low level of existing housing inventory.

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Housing Wire

APRIL 5, 2021

In its most recent annual report to Congress, November 2020, the Federal Housing Administration ( FHA ) published its “capital ratio,” a measure of capital reserves to insurance-in-force held within the Mutual Mortgage Insurance Fund (MMI Fund). The same report revealed FHA had amassed capital reserves in the amount of $78.9

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Listing Spark

DECEMBER 15, 2022

It usually involves wrapping the existing mortgage and obtaining title insurance from a title company. Because if you’re gonna take over that mortgage in a wrap situation and that’s at a Chase bank or whatever it may be they more than likely they have a due on sell call. Key takeaways. [00:03:41]

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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%. Falling new inventory is constraining transaction volumes while also supporting higher home prices. Check out the listing’s lookbook and cinematic video flythrough.

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Housing Wire

FEBRUARY 5, 2021

But Mike Fratantoni, chief economist at the Mortgage Bankers Association , said he expects construction to grow later in the year. “While it was little changed in January, we do anticipate further growth in the sector this year, which will help to address the critical shortage of housing inventory on the market,” Fratantoni said.

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