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. Pressure on demand.

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Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. million, and in 2007, it peaked at 4 million. from the previous year ($375,300). All four U.S. million in March.

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Inventory Housing Market New Listings Buyers 483

Housing Wire

MAY 2, 2023

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. years in March 2023, according to recent data.

Housing Market 387

Housing Market Marketing Sellers Inventory 387

Housing Wire

DECEMBER 21, 2022

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. . Confused by this?

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Inventory New Listings Housing Market Sellers 525

Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% across U.S. Covid challenges.

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Lending Mortgage Sellers Technology 437

Housing Wire

APRIL 30, 2023

The other focus should be where mortgage rates go; only a little happened last week. Mortgage rates, once again, didn’t move too much this last week; the bottom level range was 6.50%, while the top was 6.67%; we ended the week at 6.59%. In 2007, when sales were down big, total active listings peaked at over 4 million.

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Inventory Housing Market Marketing New Listings 516

Housing Wire

APRIL 16, 2023

Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number. Mortgage rates didn’t move too much last week but ended the week on a higher note at 6.50%. This is one reason housing inventory has taken so long to bottom out.

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Inventory Housing Market Marketing New Listings 537

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

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Housing Wire

JANUARY 16, 2023

Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. With mortgage rates also falling, I am hopeful that more people will list their homes and buy another, so we can get back to a more functional housing market. This is a small number but could be the start of an important trend.

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Inventory Housing Market Marketing Mortgage 531

Housing Wire

JANUARY 25, 2023

in December 2022, its highest level since 2007 and its fastest rise in more than 40 years. Long-term mortgage rates responded by rising from 3.25% in early 2022 to over 7.25% in October 2022, more than doubling. As inflation eases, so will long term mortgage rates. Higher mortgage rates have severely impacted demand.

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Housing Market Marketing Inventory Sellers 423

Housing Wire

JULY 15, 2022

Brian Gubernick: While I do not think I have a favorite article, I definitely have a favorite section right now…and that’s “Mortgage” ! In order to be more effective in my role at Homeward, I’ve had to deepen my understanding of mortgage. HW+ has been a major resource in getting my knowledge base to where it needs to be!

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Real Estate Realtors Brokerage Business 388

Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

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Housing Market Finance Marketing Mortgage 375

Housing Wire

FEBRUARY 16, 2022

The mortgage servicing rights market took off like a rocket in January and it has continued to accelerate into the stratosphere in February, according to industry experts who follow the MSR market closely. He said the outlook for MSR assets “remains very strong, driving [price] multiples to very attractive levels for prospective sellers.”. “As

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Marketing Mortgage Sellers Valuation 379

Housing Wire

NOVEMBER 18, 2022

As mortgage rates rose more and more, the October to January data was going to show big negative prints. A traditional seller is primarily a homebuyer, so not only do we lose the inventory for sale when this happens, but we also lose a buyer. million, with a peak in 2007 a tad over 4 million. million in October. months to 3.3

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Inventory Marketing Housing Market New Listings 464

Housing Wire

JUNE 25, 2023

Mortgage rates were again in a small range, hanging near 7%. The affordability hit with higher mortgage rates has impacted new listings data since most sellers are buyers, thus facilitating an all-time low in new listings data. million The peak in 2007 was a bit over 4 million Currently we’re at 1.08

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Inventory Housing Market Marketing New Listings 404

Housing Wire

APRIL 9, 2023

The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. Mortgage rates started last week at 6.44% and fell to a low of 6.16% , then ended the week at 6.34%.

Housing Market 539

Housing Market Marketing Mortgage Inventory 539

Listing Spark

JUNE 27, 2023

National Landscape: Indications of a Seller’s Market As detailed in a recent article by Matt Carter published on June 9, 2023, a national sentiment heavily favoring sellers prevails 1. “The housing market has tilted sharply in favor of sellers amid increasing demand and ongoing low housing inventory.”

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Real Estate Sellers Inventory Marketing 69

Housing Wire

JANUARY 27, 2023

On the other hand, mortgage rates have gone down more than 1% since Oct. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving products. months of supply. But since Oct.

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Mortgage Construction Buyers Inventory 544

Housing Wire

AUGUST 30, 2022

One of the issues with existing home inventory has been that, for the most part, a traditional seller is usually a buyer of a home. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime. New listings are declining now.

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Inventory New Listings Law Housing Market 382

Housing Wire

DECEMBER 29, 2022

The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Production falls.

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Housing Market Marketing Inventory Sellers 545

Lamacchia Realty

OCTOBER 25, 2023

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Fewer sellers need to adjust their price because, again, it’s a seller’s market.

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Bracketing Marketing Sellers Buyers 65

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm.

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Mortgage Construction Lending Real Estate 382

Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

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Housing Market Bracketing Marketing Sellers 65

Housing Wire

APRIL 23, 2024

Three of the biggest topics in housing right now are mortgage rate movements tied to Federal Reserve policymaking, the day-to-day moves in key housing data and forward-looking trends for the housing market. So, if all of you are looking for a sustained lower move in mortgage rates, that’s what you’re going to see.”

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Inventory Housing Market Sellers Marketing 456

Appraisal Today

JULY 21, 2023

Often, the MLS mentions that the sellers will fill in the pool, but I don’t know if that has ever happened. The sellers originally bought the land for $12 million back in 2010. The national foreclosure activity total in Q2 2023 was 65 percent below the pre-recession average of 278,912 per quarter from Q1 2006 to Q3 2007.

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Appraisal Real Estate Contracts Business 90

Listing Spark

JUNE 16, 2023

.” [00:04:36] Austin real estate sales volume and velocity in April 2023 Austin’s housing market in April saw a decline in new listings and sales volume, but the market remains a seller’s market. Texas home sellers are hesitant to list, while existing median home prices have dropped slightly.

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Real Estate Marketing Inventory Sellers 36

Lamacchia Realty

AUGUST 3, 2021

Buyers have had more money to work with due to the low mortgage rates , and sellers who actually listed their properties were given the pick of the litter in multiple offer situations where most of the time, the homes were selling for over asking. If a month goes by, contact your REALTOR to discuss an adjustment on the list price.

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Bracketing Sellers Buyers Inventory 68

Listing Spark

OCTOBER 27, 2022

The real estate market is ever changing for buyers, sellers, and investors. Should you be offering concessions if you are a seller? We’ll dive into how the current real estate market is affecting buyers, sellers, and investors with Ellen Steele, a Realtor with ListingSpark that has had over $10M in sales in the last 12 months.

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Real Estate Sellers Buyers Real Estate Agent 36

Housing Wire

FEBRUARY 16, 2023

The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates. economy isn’t in recession today, and mortgage rates have risen almost 1% from the recent lows.

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Construction Housing Market Inventory Mortgage 511

Housing Wire

MAY 23, 2023

Last year, sale levels were meager and once mortgage rates fell and the builders were buying down rates to get more homes sold, the data stabilized and moved higher slowly. This is different from the 2007 housing market when the builders’ sales were still collapsing and monthly supply spiked with rising cancellation rates.

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Inventory Housing Market Construction Marketing 516

Housing Wire

DECEMBER 20, 2023

However, this time around, the Federal Reserve rate hike cycle is over, and we don’t need to worry about Fed presidents going on CNBC in 2024 crying about 6% mortgage rates making their lives difficult. In 2023, we had one big bounce in sales and then sales trended lower all year long as mortgage rates went from 6% to 8%.

Housing Market 449

Housing Market Marketing Inventory Realtors 449

Housing Wire

JUNE 27, 2023

They’re effective sellers and don’t want to create a backlog of completed units for sale because that would ruin their business model. In 2007, we had more than 4 million total active listings, which was too much supply for the builders to compete effectively. Now on to the report.

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Construction Inventory Marketing Buyers 501

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Homelight , a platform for homebuyers and sellers, was No. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. 5000 edition.

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Real Estate Real Estate Agent Technology Investors 369

Housing Wire

MAY 26, 2022

As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. But we should ask: Why is inventory so much lower now if purchase application data is at 2009 levels — a period in time when inventory was rising noticeably in 2006, 2007, 2008 and 2009? The housing market shifted in March of this year.

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Inventory Housing Market Construction Marketing 517

Housing Wire

JULY 19, 2023

From NAR data: 2007 total active listings: 4 million 2023 total active listings: 1.08 So the builders went to work making deals — they’re very efficient sellers. When they need to, they will cut prices and provide lower mortgage rates than what existing homebuyers are getting to move their product.

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Housing Market Inventory Sellers Marketing 273

Appraisal Today

AUGUST 5, 2022

My comments : The big push to cut down on appraisal turn times because of the appraisal shortage is Very Old News since mortgage volume has plummeted. NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, real estate market, unusual homes, mortgage origination stats, etc.

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Appraisal Valuation Contracts Modernization 59

Housing Wire

APRIL 20, 2023

million before we saw the massive stress spike in supply from 2005 to 2007. One thing higher mortgage rates have done for sure is that home-price growth is cooling down noticeably since the big spike in rates. As we can see below, from 2000, total active housing inventory rose from 2 million to 2.5 economy.

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Inventory Housing Market Marketing New Listings 525