article thumbnail

Mortgage rates surge to highest level since 2000

Housing Wire

“The 30-year fixed-rate mortgage has hit the highest level since the year 2000,” Sam Khater, Freddie Mac’s chief economist said. These headwinds are causing both buyers and sellers to hold out for better circumstances.” Other indices showed significantly higher mortgage rates this week.

Mortgage 466
article thumbnail

Risks of nonbank mortgage sellers and servicers revisited

Housing Wire

The origination period of the analysis was 2000-2015 to allow for loan seasoning and two models were estimated: one with a definition of default as a loan becoming 90 days past due or worse, and the second a loan becoming 180 days past due or worse. These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015. Specifically, the 1.9

Sellers 421
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

You can’t buy what’s not for sale in the housing market

Housing Wire

And there’s another thing that separates the housing market from other markets — the buyer is often also the seller. In most markets, the seller, or supplier, makes their decision about adding supply to the market independent of the buyer, or source of demand, and their decision to buy. Homer Simpson or Spock?

article thumbnail

Lower mortgage rates are stabilizing the housing market

Housing Wire

These were forced credit sellers, which means these sellers don’t sell to buy a home like a traditional seller does. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. As we can see below, none of that is happening today because the seller isn’t stressed.

article thumbnail

Annual home-price growth cooled further in February

Housing Wire

Inventory has remained low as sellers are locked into their low mortgage rates, even as many home buyers are turned away from this market due to affordability constraints amid volatile mortgage rates,” Nicole Bachaud, Zillow ’s senior economist, said in a statement. The 10-city home price index also posted a 0.4%

Inventory 383
article thumbnail

Tight credit, high rates and low inventory add to buyers’ affordability struggles 

Housing Wire

According to the report, purchase credit scores in April were the highest on record, dating back to 2000, when Black Knight first started tracking the metric. This is compounding the challenges for potential home buyers and the origination market alike, Walden said.

Inventory 397
article thumbnail

Illinois homebuyer files commission lawsuit against @properties

Housing Wire

However, the suit is seeking both national and Illinois class action status for all persons who purchased a home listed on a NAR MLS with a buyer’s agent and or seller-agent employed or affiliated with @properties or any of its franchises, subsidiaries, or agencies between March 17, 2000, and the present.