Housing Wire

SEPTEMBER 22, 2020

With that in mind, I would like to revisit my 2020 thoughts on the U.S. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market. The big question for the rest of 2020 is whether or not we will get total home sales of 6.2 The February housing data, pre-COVID, was juicy indeed.

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Housing Wire

DECEMBER 22, 2020

Retail lender Movement Mortgage has invested $200 million to expand its nonprofit Movement Foundation , and to accelerate the development of its growing charter school network. Movement Foundation uses dividends from the mortgage company for affordable housing and related projects to support community stability through homeownership.

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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. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Housing Wire

MAY 19, 2022

Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. Mortgage applications for new home purchases dropped 10.6% in April from the same period last year, according to the Mortgage Bankers Association builder application survey. Homebuilders constructed about 1.23

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Housing Wire

JANUARY 31, 2024

CoreLogic Principal Economist Molly Boesel told HousingWire the 2022 price boom was largely “a spillover from the for-sale market,” which has been stuck in a prolonged inventory crunch in the present high-mortgage-rate environment. Nationally, multifamily construction has grown at a faster rate than single-family construction.

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Housing Wire

APRIL 2, 2021

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. The Mortgage Bankers Association expects this heightened pace to drop unemployment numbers to below 5% by the end of the year.

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Housing Wire

AUGUST 17, 2021

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. Like so many other production pipelines, the construction of new homes, along with shortages in building materials like concrete and lumber , caused a significant decrease in new homes for purchase. Push for tech.

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Housing Wire

NOVEMBER 16, 2022

Homebuilder confidence continued to drop in November, hitting its lowest level since June 2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday.

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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. Since the summer of 2020, I have genuinely believed the housing market could change once the 10-year yield broke over 1.94%. “I don’t expect a boom in housing construction.

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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 or higher during 2020-2024. The demographic bump in 2020-2024 is giving us a push in demand. percent (±11.9

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Housing Wire

JULY 18, 2022

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Recruiting battles for LOs remain fierce, mortgage executives and LOs told HousingWire.

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Housing Wire

AUGUST 31, 2022

In 2019, they teamed up to make a $450 million equity commitment to develop 2,000 new “build-for-rent” homes. Tricon notes in announcing the latest joint venture with ASRC that it “has already invested $1 billion in developing new, high-quality rental housing and has a pipeline of over 7,000 new homes currently under development.”.

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Housing Wire

AUGUST 3, 2023

Aerial drone inspection of Lennar’s Westview housing development Miami, Florida. In a recent earnings call, Sheryl Palmer, chairman and CEO of national homebuilder Taylor Morrison , said about two-thirds of homeowners now have mortgage interest rates below 4%. Taken by Felix Mizioznikov. We need to build above 1.1

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Housing Wire

MARCH 1, 2024

While Fischer attributes some of the uptick in activity to typical seasonality, he noted that the recent relative stability and even slight decreases in mortgage rates have also contributed. 23, 2024, the 90-day average for single family listings in the state was 9,927, down from 14,314 single family listings in late February 2020. “It

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Housing Wire

MAY 16, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. Overview of findings The report was released to the public in November 2023.

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Housing Wire

APRIL 28, 2022

Ohio-based Union Home Mortgage is the latest in a string of lenders this week to institute workforce reductions. The multichannel lender, which originated roughly $13 billion in residential mortgage last year, declined to provide any details about the layoffs. from 2020 to 2021, to $13 billion. billion, up 65.5%

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Housing Wire

JANUARY 9, 2023

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers. This will be particularly true as mortgage interest rates remain elevated and increase.

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Housing Wire

MAY 7, 2021

Of that $93,870, $41,330 is attributable to regulation during development, and $52,540 is due to regulation during construction. The study was filed out by 2,071 NAHB members and 57 developers, and nearly all of the builders — 98.9%, per the study — reported experiencing some type of regulatory cost during construction.

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Housing Wire

JANUARY 19, 2022

Department of Housing and Urban Development and the U.S. Construction of single-family homes dropped 2.3% from November to 1.172 million units, the construction of multifamily units again posted a sizable increase of 13.7% increase from 2020. above the 2020 figure. 2021 was a strong year for construction.”. “The

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Housing Wire

OCTOBER 19, 2022

As mortgage rates rose to nearly 7% and builder sentiment dipped to painfully low levels in September, housing starts also declined, dropping 8.1% Department of Housing and Urban Development. The new construction industry was not blind to the impacts this will have on housing demand. Census Bureau and the U.S. in the West.

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Housing Wire

SEPTEMBER 27, 2021

“Since history has shown us that fourth quarters are usually the strongest quarter for construction, 2021 is still projected to finish with 40,000 completions, which is falls right in line with years past,” David Caputo, an analyst with Moody’s, said. “As In the second quarter, the national average asking rent increased.8% 8% to $986.

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Housing Wire

APRIL 28, 2023

The announcement comes a year after Bloomberg reported that only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of white homeowners. The partnership represents Wells Fargo’s largest minority home lending and development initiative to date.

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Housing Wire

JUNE 17, 2021

Mortgage applications for new home purchases fell 9% month-over-month in May at a seasonally unadjusted pace ? the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Censes Bureau releases each month.

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Housing Wire

MAY 18, 2021

million — proof that builders are delaying housing starts due to the marked increase in costs for lumber and other materials, said Mike Fratantoni, Mortgage Bankers Association ‘s chief economist. above the April 2020 rate of 1.09 Housing completions were at a rate of 1.045 million in April, just 0.1% above the March rate of 1.04

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Housing Wire

FEBRUARY 6, 2023

Michigan-based United Wholesale Mortgage (UWM) has named Andrew Hubacker as its chief financial officer, the company announced on Monday. Hubacker joined the mortgage lender in October 2020 as chief accounting officer. billion and injected $925 million into UWM to develop new technology and grow the broker channel.

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Housing Wire

AUGUST 22, 2022

July was another rough month for homebuilders, with mortgage applications for new home purchases dropping 16.1% from a year ago, according to the latest Mortgage Bankers Association ‘s builder application survey. The MBA’s estimate of new home sales came in at a 591,000-unit sales pace in July, the slowest since April 2020.

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Housing Wire

MARCH 1, 2021

Department of Housing and Urban Development for the Housing Trust Fund, an increase from the $326.4 According to Calabria, the $1 billion disbursement will help construct and preserve affordable housing nationally. However, refis, which made up nearly 70% of mortgage activity for the GSEs, are showing signs of slowing down.

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Appraisal Buzz

SEPTEMBER 24, 2021

Sales of newly constructed homes performed better than expected in August but remain well behind the pace set in August 2020. Census Bureau and Department of Housing and Urban Development say that sales during the month were at a seasonally adjusted annual rate of 740,000 units. It was the second.

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Housing Wire

MAY 13, 2021

Mortgage applications for new homes dropped 9% in April from March, however, overall applications are still up a whopping 30.8% year over year for homebuilders, according to the latest survey report from the Mortgage Bankers Association. The MBA’s mortgage credit availability index increased in April to 128.1

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Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

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Housing Wire

APRIL 25, 2023

According to this theory, we have more homes under construction than any time in history. population growth means we will become Japan, but I’ve been focused on demographics and how that will affect housing from 2020-2024. Census Bureau and the Department of Housing and Urban Development. percent (±15.2 percent (±12.7

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Housing Wire

FEBRUARY 24, 2022

It gives an idea of what to expect for housing construction. months and above, the builders will pull back on construction. The real question is how much higher mortgage rates will bite the most sensitive sector to rates: new homes. The builders will pull back on construction growth if new homes sales start to head lower.

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Housing Wire

JUNE 16, 2021

. “We now view stronger and persistent inflation as the principle risk to our forecast, though uncertainties over consumer behaviors related to reopening and COVID-19 developments remain,” Fannie Mae’s ESR Group said. Thus, we expect refinance volume will pull back from the 2020 peak throughout our forecast horizon.”

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Housing Wire

APRIL 13, 2022

of GDP in 2020. As a driver of the economy, housing should be bolstered by: Non-bank lending institutions to lend in lower-income areas and to minorities in the same way that CRA provides for banks Reducing government-insured and guaranteed mortgage loan fees. Incentivizing developers is necessary.

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Housing Wire

NOVEMBER 4, 2020

As results trickle in following a historic 2020 general election, results seem to be leaning toward a Joe Biden presidency, but potentially also a Republican-led Senate. For the mortgage industry, a split government might be the best possible outcome,” said Rick Sharga , senior vice president at RealtyTrac.

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Housing Wire

SEPTEMBER 9, 2021

For the third year, Tech Trendsetters is honoring the individuals behind the technology that is driving mortgage and real estate. Last year’s impressive list of winners used the challenges of 2020 to propel the housing economy into a digital era and made some industry-changing advancements along the way.

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Housing Wire

AUGUST 23, 2022

Tuesday’s new home sales report missed expectations and had negative revisions, which isn’t surprising given this sector of our economy simply can’t handle higher mortgage rates. Census Bureau and the Department of Housing and Urban Development. This time, we have less production of homes and more multifamily construction.

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