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Buyers viewed just eight homes before making their purchase

Housing Wire

Right after the Great Recession, between 2009 and 2011, buyers viewed a median of 12 homes before purchasing, as inventory was plentiful. From 2004 to 2006, during the housing boom years, even though homes were moving at a rapid pace, buyers typically looked at nine homes. month’s supply of homes. month’s supply of homes.

Buyers 421
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Cash-out refis are in high demand as equity levels skyrocket

Housing Wire

Black Knight said that elevated prices will continue into the foreseeable future, as inventory shortages continue to put upward pressure on home prices. Additionally, the report said that the monthly mortgage payment (principal and interest) to purchase an average-priced home with 20% down increased by close to 25% since the start of 2021.

Inventory 450
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Will mortgage lending get tighter in the next recession?

Housing Wire

I don’t think it’s shocking that people have never seen this index dated from 2004-2021. We just lend to the capacity to own the debt, and the index is correct to stay low since 2008 because we can’t legally loosen up lending standards as happened from 2004-2005. NAR Total Inventory Data from 1982-2022. Why is this?

Lending 485
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How analysts see 2024 shaping up for mortgage lenders

Housing Wire

The macro challenge: Still not much inventory Analysts unanimously agree that inventory will continue to be a significant issue entering 2024. ” George agrees that inventory will remain a problem. Given these distinct macro forecasts for 2024, what should originators keep in their playbook for next year? million homes.

Mortgage 508
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Title insurance industry premiums spike $7B year over year

Housing Wire

According to ALTA, the cost of title insurance coverage has decreased 7% since 2004, meaning for each dollar of premium a consumer purchases, they get an extra $26 in coverage, comparatively. There’s no denying 2021 was a strong year for title insurers and underwriters.

Insurance 370
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Redfin makes its big rental play with RentPath acquisition

Housing Wire

It’s only the second acquisition Redfin has made since its founding in 2004. In today’s low-inventory environment, complicated by external factors such as forbearance and foreclosure moratoriums, it’s crucial for real estate agents and brokers to be proactive in order to grow their business.

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This Isn’t a Bubble

Empire Appraisal Group

Housing inventories are low, credit remains tight, and lenders aren’t issuing risky loans at rates like they did back then. Product risk—such as from mortgages with introductory periods, teaser rates, or balloon payments—comprised about 40% of the mortgage market between 2004 to 2006. But this isn’t 2006.