Real Estate News

AUGUST 24, 2023

For the fifth straight week, 30-year mortgage rates went up, hitting 7.23% — the highest level since 2001.

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Mortgage 191

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. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. The average interest rate on a 30-year-fixed mortgage was 7.07% in August.

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Housing Wire

JUNE 10, 2022

Consumer direct lender Wyndham Capital Mortgage is doing a new round of layoffs, according to a Worker Adjustment and Retraining Notification (WARN) notice filed with the North Carolina Department of Commerce. Purchase mortgage rates reached 5.23% this week – and some of those same lenders are making further cuts.

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Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. Another rate hike in September would move the target federal funds rate to its highest level since March 2001. By contrast, the 30-year fixed-rate mortgage was at 5.22% a year ago at this time.

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Housing Wire

MARCH 28, 2024

Pending home sales increased modestly in February despite rising mortgage rates , growing 1.6% For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. in February, up from 74.3 in January.

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Housing Wire

NOVEMBER 30, 2023

Pending home sales in October fell to their lowest level since 2001. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% in October on a month-over-month basis, according to data released Thursday by the National Association of Realtors (NAR). down from 72.6 in September.

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Housing Wire

OCTOBER 13, 2021

Chicago-based mortgage originator Interfirst Mortgage Co. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011. The post Interfirst Mortgage raises $175 million appeared first on HousingWire. The originations went from $14.1

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Housing Wire

MAY 25, 2023

“Elevated mortgage rates and economic uncertainty, along with still-low inventory, means that new pending sales were down more than 20% from a year ago, and were lower even compared to 2019 levels.” An index of 100 is equal to the level of contract activity in 2001.

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Housing Wire

JANUARY 7, 2022

Pink slips arrived for nearly three dozen loan officers at Wyndham Capital Mortgage on Wednesday, HousingWire has learned. The consumer direct mortgage lender, headquartered in Charlotte, North Carolina, said it laid off 35 LOs across its offices in Dallas, Charlotte, Salt Lake City, Kansas City, and Phoenix.

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Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that’s impacting home sales.” NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in January, down from 77.3 in December.

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Housing Wire

MAY 23, 2022

Full-service lender Cherry Creek Mortgage announced Rick Hogle has joined the company as its chief revenue officer. Hogle began his mortgage career in 2001 at New Century Mortgage , where he became a branch manager. How to make digital marketing easy and effective for mortgage professionals.

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Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000.

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Housing Wire

JULY 5, 2022

Less than a month after Wyndham Capital Mortgage said it planned to pink slip more than 40 employees, the consumer direct lender conducted another round of layoffs. Founded in 2001, Douglas positioned the company as a fintech-focused mortgage lender, and actively expanded during the refi boom.

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Housing Wire

MAY 9, 2022

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . Compared with the same period last year, the number of rate locks by mortgage volume was down 25.4%. .

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Inman

APRIL 25, 2024

Rising home prices and mortgage rates stifled pending home sales in February, according to the National Association of Realtors on Thursday. The maximum score on the scale is 100, which represents the contract activity seen in 2001. The Pending Home Sales Index, which is a forward-looking indicator based on contract signings, was 75.6

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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. On a year-over-year basis, pending sales were up 1.3%.

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Appraisal Buzz

MAY 18, 2022

Rick Hogle has joined Cherry Creek Mortgage , a nationwide, full-service mortgage lender, as chief revenue officer. He began his mortgage career in 2001 with New Century Mortgage, where he became one of the firm’s top originators in his first year and later a successful branch manager. He also served as a.

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Housing Wire

NOVEMBER 23, 2021

Chicago-based Interfirst Mortgage Co. To run the hub, the company hired Casey Nunn, a former Rocket Mortgage and Homepoint executive, as the vice president of wholesale lending. Interfirst was founded in 2001 as a retail originator and then expanded to the wholesale channel and the correspondent channel in 2008 and 2011, respectively.

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Mortgage Loan Officers Retail Technology 382

Housing Wire

SEPTEMBER 15, 2020

Real estate services and technology firm SitusAMC just acquired the parent company of compliance technology provider ComplianceEase , the latest in a series of mergers and acquisitions that are shaking up the mortgage tech space in the last year. The firm says it has processed audits for over 90 million loans in the last two decades.

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Housing Wire

OCTOBER 6, 2023

With 30-year fixed mortgage rates climbing to a 23-year high, the Mortgage Bankers Association (MBA) called on the Federal Reserve to bring some certainty to financial markets. “It to 5% – the highest level since 2001. Some economists forecast that the 10-year Treasury could hit 5% and an 8% mortgage rate does not seem unlikely.

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Housing Wire

JANUARY 27, 2023

Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.” An index of 100 is equal to the level of contract activity in 2001. “We The new normal for mortgage rates will likely be in the 5.5% Despite the monthly increase, pending home sales are down 33.8%

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Housing Wire

JANUARY 3, 2023

An index of 100 is equal to the level of contract activity in 2001. Yet, mortgage applications point to a thawing, but still cold, housing market as mortgage rates come down.”. On a month over month basis, all four of the major U.S.

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Inman

JULY 26, 2023

Federal Reserve policymakers keep their options open for another rate hike in September, but futures markets investors and some economists think the Fed is probably done hiking rates.

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Housing Wire

OCTOBER 28, 2022

An index of 100 is equal to the level of contract activity in 2001. or lower mortgage rate they locked in at. The new normal for mortgage rates could be around 7% for a while,” Yun added. “On Only when inflation is tamed will mortgage rates retreat and boost home purchasing power for buyers.”. in September.

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Contracts New Listings Realtors Housing Market 521

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said. For others, the higher mortgage rates and general economic uncertainty are simply making them more cautious.”

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Housing Market Contracts Government Buyers 471

Housing Wire

JULY 29, 2021

An index of 100 is equal to the average level of contract activity during 2001, the first year examined. The volume of existing-home sales in 2001 was within the range of 5 to 5.5 ” Yun said he expects the 30-year fixed mortgage rate to increase to 3.3% Mortgage applications increased 5.7% rise from a year ago. .

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Housing Wire

OCTOBER 14, 2022

The Mortgage Bankers Association announced Thursday it promoted Joel Kan to vice president, deputy chief economist. In his new role, Kan will lead the macroeconomic and mortgage market forecasts and oversee MBA’s industry surveys, including the Weekly Applications Survey, Builder Application Survey and the Mortgage Credit Availability Index.

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Housing Wire

AUGUST 30, 2023

An index of 100 is equal to the level of contract activity in 2001. However, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many.” Sales activity is expected to remain slow for the rest of the year, as inventory remains low and mortgage rates remain high, noted Sturtevant.

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Inventory Contracts Buyers Realtors 414

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

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Housing Wire

JUNE 29, 2023

An index of 100 is equal to the level of contract activity in 2001. The spring market will extend into summer as buyers face limited choices and are waiting for mortgage rates to come down. Year over year, pending home sales were down 22.2%, a larger decrease than the 20.3% annual drop recorded in April.

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Contracts Inventory Housing Market Realtors 370

Housing Wire

NOVEMBER 30, 2022

An index of 100 is equal to the level of contract activity in 2001. October was a difficult month for home buyers as they faced 20-year-high mortgage rates,” Lawrence Yun, NAR’s chief economist, said in a statement. In recent weeks, however, mortgage rates have dipped back into the 6.0%

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Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. In addition, NAR forecasts that mortgage rates will drop to 6.0% Sales in the second half of the year should be notably better than the first half as job gains continue and more favorable mortgage rates are expected,” Yun said. year over year. in 2023 and 5.6%

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Inventory Realtors Contracts Construction 424

Housing Wire

FEBRUARY 27, 2023

“Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. An index of 100 is equal to the level of contract activity in 2001. For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall.

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Housing Market Realtors Contracts Buyers 424

Housing Wire

MAY 9, 2022

a direct-to-consumer mortgage lender acquired by Guaranteed Rate in February 2021 , is planning a workforce reduction amid higher mortgage rates and lower refinance volumes. The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals.

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Human Resources Lending Retail Mortgage 393

Housing Wire

FEBRUARY 5, 2021

Fresh off its acquisition of Stearns , Guaranteed Rate has picked up Owning Corporation , a direct-to-consumer mortgage lender. Like virtually all residential mortgage lenders, Chicago-based Guaranteed Rate had its best-ever year in 2020, originating about $73 billion in mortgages. Presented by: Black Knight.

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Loan Officers Retail Technology Mortgage 414

Housing Wire

SEPTEMBER 29, 2022

An index of 100 is equal to the level of contract activity in 2001. The direction of mortgage rates – upward or downward – is the prime mover for home buying, and decade-high rates have deeply cut into contract signings,” Lawrence Yun, NAR’s chief economist, said in a statement. “If year over year in 2022, to 5.19 million units.

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Contracts Realtors Inventory Marketing 393

Housing Wire

MAY 2, 2022

Six months ago Interfirst Mortgage Co. The workforce reduction is also focused on mortgage loan production. The lender is scheduled to lay off 26 processors, 20 originators, and 15 mortgage account executives in junior and specialist job positions. The company is also laying off four people with the title of vice-president.

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