Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. Concerns over the existing VA policies have been echoed among mortgage professionals.

Buyers 440

Buyers Real Estate Agent Inventory Real Estate 440

Housing Wire

OCTOBER 5, 2021

home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. Typical sellers received two offers, which is the same as the past three years. Most sellers (74%) received at least one offer on their property that was all cash or did not include a financing contingency.

Sellers 545

Sellers Inspection Buyers Finance 545

Housing Wire

NOVEMBER 9, 2020

Though prospective buyers revealed slight wariness in September, Fannie Mae reported buyer morale gained 6% in October, with 60% of respondents saying it is a good time to buy a home while those who believe it is a bad time fell to 35%. Low mortgage rates fuel the demand for valuation and settlement services.

Housing Market 543

Housing Market Sellers Buyers Marketing 543

Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. Zillow posits that this shift is driven by higher mortgage rates in the post-pandemic era.

Sellers 375

Sellers Buyers Real Estate Inventory 375

Housing Wire

NOVEMBER 20, 2023

The Sitzer/Burnett trial out of Kansas City found the National Association of Realtors (NAR) guilty of conspiring to inflate agent commissions — sparking a debate over agent commission fees and the longstanding role of buyer agents in real estate transactions. But what happens if consumers pivot away from buyer agents altogether?

Agents 382

Agents Buyers Real Estate Agent Loan Officers 382

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. “With BUY+, Rocket Mortgage is making this process a lot easier to achieve, lowering a hurdle for those who are ready for a home of their own.”

Agents 383

Agents Buyers Real Estate Agent Mortgage 383

Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And And with rising home prices and the growing burden of traditional mortgage debt, homeowners are looking to tap into their home equity without taking on additional debt.”

Finance 372

Finance Investing Real Estate Agent Real Estate 372

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Buyers 449

Buyers Mortgage Loan Officers Retail 449

Housing Wire

APRIL 25, 2024

Buyers are really struggling.” Agents say they are also seeing a lot of appraisal gap clauses , inspection waivers and free leasebacks popping up in offers as buyers look to improve their chance of winning a house in the current market. But rising prices are not the only financial challenge buyers are having to contend with right now.

Buyers 376

Buyers Marketing Inventory Investors 376

Housing Wire

MAY 14, 2024

“Most of the demand is coming from first-time buyers,” Trevor Levin, a local agent with Los Angeles-based Nourmand & Associates , said. Nationwide, the share of buyers who are first-time buyers has risen in recent months. Nationwide, the share of buyers who are first-time buyers has risen in recent months.

Buyers 360

Buyers Inventory Landlords Real Estate 360

Housing Wire

NOVEMBER 30, 2023

Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. After a very difficult market for buyers who have had to contend with an atypical housing market in 2023, home shoppers will find more listings to choose from in 2024,” Lisa Sturtevant, Bright MLS chief economist, said in a statement.

Buyers 432

Buyers Housing Market Sellers Inventory 432

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

Mortgage 383

Mortgage Sellers New Listings Buyers 383

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

Buyers 374

Buyers Agents Loan Officers Real Estate 374

Housing Wire

MARCH 8, 2024

At the height of the pandemic there were bidding wars and all that, but it didn’t seem impossible, but now it seems impossible to get our buyers into homes,” said Heather Corrigan , a RE/MAX Signature Homes agent based in Closter, a borough that is 24 miles north of Manhattan and renown for its schools.

Housing Market 392

Housing Market Buyers Agents Marketing 392

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

Lending 389

Lending Mortgage Government Finance 389

Inman

APRIL 17, 2024

Fannie, Freddie and FHA say sellers can continue to pay the buyer's agent's commission. But it remains to be seen if buyers will be allowed to finance their agent's commission into their mortgage.

Mortgage 170

Mortgage Sellers Finance Agents 170

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

Sellers 361

Sellers Buyers Agents Real Estate Agent 361

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

Agents 438

Agents Sellers Buyers Finance 438

Housing Wire

MARCH 28, 2024

The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home purchase transactions. Sellers or buyers can pay the buyer’s agent’s fees. NAR also sent a letter to the U.S.

Real Estate Agent 405

Real Estate Agent Sellers Buyers Agents 405

Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. CBC Mortgage Agency is the provider of the Chenoa Fund, a national DPA program that comes in a repayable and forgivable option.

Mortgage 332

Mortgage Sellers Finance Housing Market 332

Housing Wire

APRIL 11, 2024

Jamie Dimon evidently believes in the KISS principle when it comes to mortgage — keep it simple, stupid. In his annual letter to shareholders , the influential head of JPMorgan Chase wrote that “we can fix the housing and mortgage” markets. ”

Mortgage 331

Mortgage Finance Business Insurance 331

Housing Wire

APRIL 25, 2023

Rocket Central ‘s new vice president of public policy, Karan Kaul, plans to prioritize homeownership opportunities for first-time homebuyers , households of color, low- and moderate-income households that have historically found it difficult to access mortgage credit.

Buyers 313

Buyers Finance Real Estate Agent Government 313

Housing Wire

APRIL 17, 2024

Expect 2024 to be mildly better than 2023 with mortgage rates falling in the second half of the year, housing experts opined in their forecasts at the end of the year. The pessimism is visible in mortgage rates. Freddie Mac ‘s weekly Primary Mortgage Market Survey is climbing back towards 7%.

Mortgage 450

Mortgage Brokerage Real Estate Tenants 450

Housing Wire

OCTOBER 20, 2022

Despite this drop, investment returns for home sellers is still up from 48.8% ATTOM says these factors are raising homeownership costs for buyers, which it says “cuts into resources available for down payments on purchases” and impacts overall household budgets. Metro results for home sellers. FHA-financed purchases.

Sellers 367

Sellers Investing Housing Market Real Estate 367

Housing Wire

SEPTEMBER 13, 2023

New York-based mortgage platform Roam has secured a $1.25 Roam focuses on a distinctive niche within the mortgage industry: assumable mortgages. Assumable mortgages, the company’s primary bet, were relatively commonplace a few decades ago. The platform advertises sellers listing to qualified buyers.

Mortgage 389

Mortgage Government Advertising Buyers 389

Housing Wire

JANUARY 11, 2024

Mortgage rates ticked up this week as the 10-year Treasury yield made its way back above 4%. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, a slight increase from last week’s 6.62%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Mortgage 373

Mortgage Sellers Inventory Buyers 373

Housing Wire

JANUARY 5, 2024

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. How interest rates impact your clients Let’s look at how interest rates can impact buyers, sellers or homeowners looking to refinance.

Real Estate 422

Real Estate Agents Marketing Sellers 422

Housing Wire

SEPTEMBER 28, 2023

Mortgage rates climbed again this week as investors braced themselves for ‘higher-for-longer’ conditions following last week’s Fed meeting. By contrast, the 30-year fixed-rate mortgage was at 6.70% a year ago at this time. These headwinds are causing both buyers and sellers to hold out for better circumstances.”

Mortgage 431

Mortgage Inventory Sellers Investors 431

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

Business 403

Business Mortgage Loan Officers Inventory 403

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgage 476

Mortgage New Listings Loan Officers Inventory 476

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 431

Mortgage Loan Officers Finance Buyers 431

Housing Wire

DECEMBER 4, 2023

As leaders of a non-profit, the Association of Independent Mortgage Experts ( AIME ), we advocate for over 65,000 wholesale mortgage brokers and homebuyers nationwide. Below, we shed light on the potential unintended consequences to mortgages and specific consumer groups should buyers be compelled to cover their agent’s commissions.

Real Estate Agent 401

Real Estate Agent Agents Real Estate Sellers 401

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

Inventory 499

Inventory New Listings Sellers Real Estate 499

Housing Wire

JANUARY 12, 2024

homeowners with mortgages had an interest rate below 6%. To conduct this study , Redfin analyzed data from the Federal Housing Finance Agency ’s National Mortgage Database as of the third quarter of 2023. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%.

Real Estate Agent 458

Real Estate Agent Sellers Inventory Mortgage 458

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75 year-over-year.

Mortgage 401

Mortgage Loan Officers Buyers Inventory 401

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgage 439

Mortgage Loan Officers Inventory Business 439

Housing Wire

NOVEMBER 7, 2023

The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market. The proposal would make it more expensive for large banks to hold, sell or service mortgages, reinforcing their now decade-long retreat from mortgage lending.

Mortgage 406

Mortgage Marketing Finance Lending 406