Housing Wire

DECEMBER 5, 2022

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. So when I talk to loan originators today, I harken back to my early days when fixed mortgage rates were over 14% and there were absolutely no refinances to be had.

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Housing Market Marketing Supply Chain Mortgage 513

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!)

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Housing Market Marketing Real Estate Agent Real Estate 490

Housing Wire

SEPTEMBER 19, 2023

Obviously, mortgage rates have been stubbornly over 7% for a couple of months. That’s a change in expectation of mortgage rates. Buyers early in 2023 had slightly lower rates than now and were optimistic that mortgage rates would go lower still. We’re hearing people imagine 8% mortgage rates. What’s happening?

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Housing Market Marketing Inventory New Listings 405

Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. at the end of 2022.

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Housing Market Marketing Inventory Buyers 353

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3%

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Buyers Mortgage New Listings Real Estate Agent 390

Housing Wire

MARCH 27, 2023

Housing markets in tech hubs were in high demand during the pandemic, with potential buyers facing fierce competition on homes in cities like San Jose and Austin. But with the tech sector in turmoil, a looming recession, and consistently elevated mortgage rates, that trend is now making an about-face.

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Housing Wire

FEBRUARY 20, 2024

Mortgage rates are back over 7%. The housing market data has been changing very rapidly this year. The economy has continued to be strong, so mortgage rates have defied expectations and remained very high. New listings rise New listings continue to show us that more sellers are interested in this market this year.

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Mortgage Inventory Sellers New Listings 481

Housing Wire

APRIL 30, 2024

Mortgage rates inched higher last week ahead of the Federal Reserve ’s Federal Open Markets Committee on Wednesday and the national jobs report on Friday. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market.

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Mortgage New Listings Inventory Sellers 351

Housing Wire

APRIL 17, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. It is keeping the pressure on buyers to shop wisely,” Kent Redding, a local Berkshire Hathaway Home Services agent, said.

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Housing Market Marketing Inventory Buyers 344

Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Overall, annual mortgage origination levels are expected to be $2.8

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Housing Market Marketing Supply Chain Real Estate 393

Housing Wire

OCTOBER 10, 2023

The same trends in the housing market in recent weeks are still dominant this week. Mortgage rates continue to climb. It’s not uncommon to hear rates quoted over 8% for a 30-year fixed mortgage. To find out more of my weekly housing market insights backed by Altos Research data, watch the video above.

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Mortgage Inventory Contracts Sellers 391

Housing Wire

MAY 30, 2024

in April compared to March as rising mortgage rates weighed on the market, according to data released Thursday by the National Association of Realtors (NAR). New-home sales , which are also based on contract signings, fell 4.7% Pending home sales sales dropped 7.7% Year over year, pending transactions fell 7.4%. All four U.S.

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Real Estate Agent Inventory Realtors Buyers 326

Housing Wire

FEBRUARY 5, 2024

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. When the economy and job growth are stronger than expected, the bond market assumes that fewer rate cuts are coming. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. There are more buyers than sellers.

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Mortgage Inventory Sellers New Listings 403

Housing Wire

AUGUST 14, 2023

Mortgage rates have been stubbornly above 7% for two months and it sure looks like home buyers are growing weary. We can see signs that buyers are slowing, both in the sales volume and in the sales price data. This slowdown is not like last year, instead, it’s just slightly fewer buyers each week. That’s the Altos Rule.

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Housing Wire

DECEMBER 1, 2022

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. In the New York and San Francisco districts, potential homebuyers opted to rent instead of purchasing due to elevated prices and higher mortgage rates.

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Housing Wire

OCTOBER 1, 2022

The real estate market has shifted, and we are in a new housing paradigm. Mortgage interest rates have risen quickly in the past few months further eroding affordability. It is always good to know where we are with the real estate market, but it is essential to keep all data in historical perspective. . Historically 2.5

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Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. But now sellers are coming back into the market. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. Everyone knows it’s been a very dry 18 months for home sales.

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Inventory New Listings Contracts Sellers 457

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers. in the second year.

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Buyers Marketing Sellers Loan Officers 463

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. million and a 15.8% million units.

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Contracts Housing Market Construction Inventory 445

Housing Wire

SEPTEMBER 14, 2023

Mortgage rates inched back up this week and remain anchored north of 7% as investors focus on the impact of rising headline inflation ahead of next week’s Fed rate decision. By contrast, the 30-year fixed-rate mortgage was at 6.02% a year ago at this time. Other indices showed different mortgage rates this week.

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Mortgage Inventory Buyers Investors 418

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. As a result, there may be a light at the end of the tunnel in this crazy market cycle. To get the weekly picture of the housing market, watch the video above. This has been a supply-constrained market, and it’s not just a demand thing.

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Housing Wire

JANUARY 19, 2023

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

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Housing Wire

OCTOBER 23, 2020

And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now. Contracts during this time also skyrocketed 62%. The National Association of Mortgage Brokers has been advocating for mortgage brokers for almost 50 years.

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Housing Market Marketing Real Estate Agent Real Estate 534

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said.

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Housing Wire

DECEMBER 19, 2023

The defining characteristic of the 2023 housing market has been dramatically fewer home sellers than any recent year. The inventory picture There are now 539,000 single-family homes on the market unsold, which is up 3.2% Housing inventory climbed late in the year as mortgage rates rose. than last year at this time.

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Housing Wire

MARCH 3, 2021

Mortgage applications recovered slightly from last week , increasing 0.5% 26, 2021 according to the latest report from the Mortgage Bankers Association. The refinance share of mortgage activity decreased to 67.5% The housing market is entering the busy spring buying season with strong demand,” Kan said.

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Mortgage Contracts Government Housing Market 522

Housing Wire

MARCH 24, 2021

Mortgage applications decreased for the third straight week – this time down 2.5%, according to the latest report from the Mortgage Bankers Association. He added that mortgage rates have moved higher in tandem with Treasury yields. Inadequate housing inventory continues to put upward pressure on home prices,” Kan said.

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Mortgage Contracts Inventory Buyers 467

Housing Wire

MAY 6, 2024

Inventory increases aren’t occurring at a super fast pace, but the number of homes on the market across the country keeps expanding. That can change if mortgage rates fall dramatically, but the current trends show weakening home prices, not strengthening. housing market as we roll into May 2024.

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Inventory Contracts Sellers New Listings 392

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

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Inventory Mortgage New Listings Sellers 373

Housing Wire

AUGUST 31, 2023

Mortgage rates ticked down modestly after job openings data for July came out yesterday, but rates remain elevated. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Aug. 31, down from last week ’s 7.23%.

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Mortgage Housing Market Contracts Buyers 367

Housing Wire

APRIL 22, 2024

After a couple weeks of big jumps for mortgage rates , we’re still seeing relatively surprising strength in the housing market. We’re watching a few key factors to see if homebuyers are backing off in the face of increased mortgage rates. housing market for the week of April 22. Now we’re at 69,000.

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Inventory New Listings Sellers Contracts 474

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

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Mortgage Real Estate Inventory Construction 346

Housing Wire

MAY 28, 2024

More people coming off the sidelines to sell their homes is a healthy signal for the market. No one wants a scenario in which there’s a flood of sellers but no buyers. But, basically, inventory is still climbing everywhere as mortgage rates are still north of 7%. There were also 68,000 new contracts started this week.

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Inventory New Listings Contracts Sellers 511

Housing Wire

JANUARY 22, 2024

For several weeks, I’ve been reporting data that shows the housing market growing in 2024. Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. New listings and new contracts both still show a bit of improvement over 2023, but the growth rates have slid back down.

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Real Estate New Listings Contracts Inventory 387

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. It is possible that the 30-year fixed mortgage rate may settle down at 5.5%

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Housing Market Marketing Loan Officers Buyers 300

Housing Wire

APRIL 30, 2021

But if you can afford it, notes Redfin Agent Melanie Miller, building a new home is still the preferred route to take for many versus entering the shark-infested waters of the current housing market. A healthy housing market is considered roughly six months of supply. ” However, the U.S. ” However, the U.S.

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Buyers Construction Inventory Housing Market 441

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S.

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