Housing Wire

APRIL 16, 2024

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. 3 in retail, so when combined it gave them a nice boost month over month,” McCue said. effectively “masked” a gain of 3.9%

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Housing Wire

APRIL 26, 2023

Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. for the week ending April 21 compared to one week earlier on a seasonally adjusted basis. of the total applications last week compared to 27.6%

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Housing Wire

MARCH 12, 2024

It wasn’t enough to bring the California-based lender company profitability, but it narrowed its losses. million in 2023, compared to a $457.6 million in legal expenses regarding the expected settlement of outstanding litigation, compared to $2 million in Q3 2023. million in Q4 2023, compared to $25.4 billion to $5.5

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Housing Wire

JANUARY 29, 2024

But you also project that the decline in rates won’t be enough to incentivize existing homeowners to move. We have home prices increasing 3% in 2024. There are seven or eight things that we watch that are still pointing that way, but the combination of all of them has not been enough to tip the market over.

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Housing Wire

FEBRUARY 2, 2023

The Federal Reserve Chairman Jerome Powell maintained a hawkish tone during his speech at a press conference on Wednesday afternoon — but it wasn’t hawkish enough to keep optimism from spreading across the markets as mortgage rates dropped closer to 6%. In turn, mortgage rates started a free fall. Is the market overreacting?

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Housing Wire

FEBRUARY 5, 2024

Another one-third would be borrowers who took out loans more than 15 years ago and did not refinance when rates dipped below 3%, making them unlikely to refi at 6%. trillion, or 11%, compared to the end of 2022. million to 3.8 Nearly 60% of that growth would come from loans originated in 2023, ICE projected.

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Housing Wire

JUNE 8, 2022

Mortgage application volume for the week ending June 3 dropped 6.5%, sliding to the lowest level in 22 years, driven by weakness in purchase and refinance applications. While rates were still lower than they were four weeks ago, they remained high enough to still suppress refinance activity. after three consecutive declines.

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Housing Wire

OCTOBER 6, 2021

The MBA’s overall mortgage application index decreased by 15% compared to one year ago, showed the survey published today. According to Kan, it was not enough to bring down the average loan balance of $410,000. Applications declined last week as mortgage rates increased above 3% for the first time since June. from 10.2%

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Housing Wire

SEPTEMBER 7, 2022

As mortgage rates climb to the mid 6% range and home values continue to increase, the new conforming loan purchase limit will offer better pricing, require a smaller down payment for home purchases and easier documentation compared to a jumbo loan, Rocket said. . Rocket Mortgage and Homepoint made their announcements the following week. .

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Housing Wire

AUGUST 11, 2021

That was enough to drive mortgage rates up slightly to 3.08%, according to the latest report from the Mortgage Bankers Association. That was enough to drive mortgage rates up slightly to 3.08%, according to the latest report from the Mortgage Bankers Association. Rates have struggled to surpass 3% for most of this year.

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Appraiserblogs

JUNE 14, 2023

Appraisers, on Thursday, before the Memorial Day holiday, I circulated across the US an email asking for response to a simple two question survey about how you “adjust” the GLA square footage between the Subject and Comparables. So that’s enough to validate the percentage of both responses, and report the trends.

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Appraisal 142

Housing Wire

NOVEMBER 10, 2023

Economists pointed out that the market interpreted Federal Reserve Chair Jerome Powell ’s comments at the latest Federal Open Market Committee (FOMC) press conference as dovish compared to his previous remarks. Is this enough to prop up mortgage origination? They’ve also re-entered the home-buying process,” Mettle told HousingWire.

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Housing Wire

JUNE 9, 2022

in the second week of May, they recently rebounded, according to the Freddie Mac PMMS, and remained high enough to still suppress refinance activity. MBAs index for refinance applications dropped 6% for the week ending June 3 from the previous week. Compared to the same week a year ago, the index was 75% lower.

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Housing Wire

MAY 2, 2022

It was not enough: the Rosemont, Illinois-based business plans to lay off 140 more employees in May, a Worker Adjustment and Retraining Notification Act (WARN) the company filed in early March reveals. Interest rates are rising fast, reaching 5.10% last week , compared to 2.98% a year ago, according to the latest Freddie Mac PMMS.

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Housing Wire

FEBRUARY 3, 2021

from one week earlier, though the unadjusted purchase Index increased 8 percent compared with the prior week and was 16 percent higher than the same week in 2020. As rates begin to creep up closer to 3% in recent weeks, the number mortgage applications had begun to slip before last week’s jump. the week prior.

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Housing Wire

AUGUST 25, 2022

It may even be enough to dissuade some from initiating the home equity loan process. Compared to the full appraisal process which historically takes several weeks to complete and costs several hundred dollars, these options are far more appealing to your bottom line, and to the homeowner’s timeline.

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Housing Wire

FEBRUARY 22, 2024

The DOJ said it supported this method as it makes it “straightforward for a seller to compare offers that include a request for the seller to pay the buyer’s broker with offers that do not include such a request.” Right now, first-time buyers have enough of a problem trying to come up with a 3.5% down payment for an FHA loan.

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Housing Wire

DECEMBER 21, 2021

20, the sun set in Anchorage, Alaska at 3:41 p.m. But the struggle of having enough homes on the market is not new to the city. “In months supply of homes, which was down 48% compared to a year ago,” Michael Droege, an Anchorage-based Century 21 agent said. Anchorage, Alaska. Things are still going strong here.

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Housing Wire

DECEMBER 5, 2022

On the other end of the spectrum, 41% of respondents said their order volume was “average,” while 20% said their volume was “above average,” and 3% noted that their volume was “far above average.” With homebuyer demand having cooled considerably since the survey was distributed in August, PropLogix believes that this trend has only worsened.

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Housing Wire

AUGUST 19, 2021

Mortgage rates, for most of 2021, have stayed below 3%, in part because of aggressive monthly asset purchases by the Federal Reserve. For the time being, rates are low enough for a substantial portion of borrowers to refinance their mortgage. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.99%. This week, the U.S.

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Housing Wire

OCTOBER 7, 2020

Compared to this time last year, the HPSI is down 10.5 According to Doug Duncan, senior vice president and chief economist at Fannie Mae, going forward, the wild card will be whether enough sellers enter the market to continue to meet the strong home-buying demand. points in September to 81. Presented by: NAMB. record spike.

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Housing Wire

JUNE 15, 2022

Compared to the beginning of the year, it rose almost three fold from 3%. The surprising surge in rates – up from 3% in January to over 6% in June – breathed new life into ARMs on the demand side, especially for loans with large balances. Not a one-size fits all”.

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Housing Wire

MARCH 3, 2023

The question is whether it goes far enough. “If we look at the fourth quarter of 2022 compared to that quarter of 2021 on an annualized basis, we have reduced our expense base by almost $3 billion, or more than 40% of total costs,” Brian Brown, Rocket’s CFO, told analysts on the Tuesday night fourth quarter earnings call.

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Housing Wire

OCTOBER 1, 2021

In a report published last month, Black Knight showed that of homeowners still in forbearance as of mid-August, 98% have at least 10% equity, compared to 28% during the last downturn. Meanwhile, 5% remain in loss mitigation, and 3% are delinquent or referred to foreclosure. The number of active forbearance loans fell below 1.6

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Housing Wire

OCTOBER 27, 2022

Borrowers are now seeking options to reduce their initial mortgage payments while hoping that rates will decline enough to warrant a refinance in the next few years. The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage rose 14 basis points from last week to 7.08%, accelerating its upward trajectory. “The

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Housing Wire

FEBRUARY 28, 2023

The fourth quarter production also represents a 75% decline compared to the same period in 2021. Like virtually all of its competitors, Rocket’s performance last year dramatically declined compared to 2021, when refinancing business was still plentiful. . 31, compared to $531 billion as of the end of September.

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Housing Wire

OCTOBER 21, 2020

Fratantoni pointed out that the job losses seen in 2020 have been unprecedented, even when compared to the Great Recession. Yes, it’s come down to 10 million, but look at how that compares again to the peak in 2009 of 6.6 But while inventory is increasing, it is not happening fast enough, putting upward pressure on home prices.

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Housing Wire

JUNE 21, 2022

“In terms of the mortgage originators, refis are already largely gone, so the question is whether this rate move is enough to slow purchase more meaningfully. The stock market has not been kind to mortgage lenders – some are now trading in the $1-a-share range. billion in market capitalization. ” Who was hit harder?

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Housing Wire

JANUARY 9, 2024

If rates drop far enough, demand for home equity loans could subside, particularly HELOCs, as more homeowners opt for cash-out refinancing, according to Toohig. So, until mortgage rates get down to the 5% range … they really have to drop a lot to change that [lock-in effect] dynamic,” she added. 16 in the most recent rankings.

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Housing Wire

APRIL 20, 2022

Demographics and employment levels were much different at that time, so it isn’t the best comp to use compared to 2020-2024, which has the most significant housing demographic (ages 28-34) running at 32.5 Week to week: -3% —Year over year: -14% —4 week moving average YoY: -9.75%. million to 4.98 million in January 2019.

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Housing Wire

NOVEMBER 2, 2022

increase year over year compared to September 2021, when the median home price was $355,100, according to the NAR. . “Even with the Federal Reserve raising its short-term fed funds rate by another large amount, longer-term interest rates look to move only slightly,” Lawrence Yun, chief economist at National Association of Realtors , said.

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Housing Wire

APRIL 14, 2022

By the fourth quarter of 2021, rates had climbed into the high 3% range, several top originators reported thinning margins and shed thousands of jobs. Pennymac estimates it has 17% market share in the correspondent channel, compared to 1.4% compared to 2020. But things change quickly in mortgage. billion volume in 2021, up 33.7%

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Housing Wire

MAY 23, 2022

Setting aside an appropriate amount of capital, and charging enough to earn a market rate of return on that capital, should do that. MBA ’s Purchase Application Payment Index (PAPI) has increased by 32% thus far this year, indicating that payments have risen much faster than personal income.

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Housing Wire

JULY 28, 2022

Still, mortgage rates are significantly higher now compared to one year ago, which is why home sales have been falling.”. Still, mortgage rates are significantly higher now compared to one year ago, which is why home sales have been falling.”. annual gain compared with a 20.4% in mid-June,” Yun added. “It

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Housing Wire

AUGUST 3, 2022

In less than a year, we went from 2.78% on the 30-year fixed to as high as 6.28% , then recently got as low as 5% — only to have another move higher this week to 5.30%. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% However, as we all know, after 2020, things are just more intense. . million to 5.12

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Mortgage Inventory Sellers Housing Market 504

Housing Wire

FEBRUARY 10, 2023

Kechian – who was Scotsman Guide ’s eighth top LO in 2021 – saw demand for mortgages triple after the first week of January compared to a month ago as mortgage rates declined and people adjusted to seeing rates at 6%-levels. Buyers seem like they can’t get a break,” Kechian said. “I They move to the suburbs and they take us with them.

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Housing Wire

JULY 22, 2022

As of mid-July, according to Freddie Mac ’s purchase mortgage-market survey , the 30-year fixed mortgage stood at 5.54%, compared with 3.22% as of the first week of January 2022 and 2.88% in July 2021. So, they are going to babysit now,” Yoon said, adding that from a business standpoint, it will slow down the loan originators’ processes.

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