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Mortgage credit availability tightened in May

Housing Wire

Mortgage credit availability dropped in May, a consequence of a tougher mortgage landscape that has resulted in lender consolidation as well as high rates and limited inventory that has stretched consumer budgets. With this decline in availability, the MCAI is now at its lowest level since January 2013.”

Mortgage 337
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How to grow housing supply in 2021

Housing Wire

For now, though, the low inventory means housing starts have legs to move higher. Existing home inventory is also at all-time lows. Existing home inventory is also at all-time lows. Unsold inventory sits at an all-time-low 2.5-month In 2013/2014, when the economic data was improving, mortgage rates rose.

Inventory 543
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MBA economists: The overcapacity that still needs to be cut

Housing Wire

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. The first category is real estate credit, which covers most establishments focused on lending with real estate as collateral. By comparison, we are forecasting total volume of about $2.3

Lending 382
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OK to average adjusted comps on appraisals?

Appraisal Today

In Sacramento, Invitation Homes went on a rampage in 2012 and 2013, and purchased more steadily in subsequent years. ”… Question 2: does the lending industry owe the appraiser a living? Next is, “Does the real estate mortgage lending industry owe the real estate appraiser a living?” percent from 7.37

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UAD and Forms Redesign Update for Appraisers

Appraisal Today

fair lending laws has been on regulators’ radar in recent years. The American Enterprise Institute (AEI) publishes data tracking the mortgage and appraisal production numbers of both Fannie Mae and Freddie Mac (the GSEs) going back to 2013. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.67

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Appraisal Risk, Reviews, and Revisions

Appraisal Today

While that number may seem high to some, in the context of lending and property complexities, that is a 54% improvement in performance cited earlier in this article (from 35% 10 years ago). Excerpts: Completed in 2013, the 50,738-square-foot compound has six bedrooms, 8.5 The average contract interest rate for 5/1 ARMs increased to 5.56