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Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Housing Wire

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. What I tell all loan officers, no matter who I talk to, is that there’s no foreclosure crisis coming on the horizon,” Saghafi said.

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How Andrew Marquis plans to close more loans in a low-inventory market  

Housing Wire

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. The inventory put a cap on how much business Marquis’ team can do, which is one of the reasons why Marquis is now licensed in 22 states. In our market here in Boston, we have incredibly low inventory.

Inventory 331
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How LOs are dealing with a mortgage rate lockdown

Housing Wire

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. million, below the 2019 range of 1.52 million, below the 2019 range of 1.52 million to 1.93

Mortgage 378
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Appraising Well in a Fast-Changing Market

Appraisal Buzz

months less than what it was in 2019. I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers. This month’s supply measurement remains 0.9

Appraisal 370
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Baret Kechian, top loanDepot LO, sees bidding wars returning to his market

Housing Wire

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. But of course, we have a lot of clients that move out of condos once they have kids and get married. While there’s still a lack of inventory, we’re seeing more deals happening.

Marketing 357
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DataDigest: What happens when insurance carriers abandon America’s biggest housing markets

Housing Wire

When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We Tight inventory and soaring home prices have pushed more homebuyers to more affordable areas in California.

Insurance 354
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How good is your real estate or mortgage CRM software?

Housing Wire

More recently, the buzz surrounds bidding wars due to extremely low inventory, purchase over refinance and the fluctuation of mortgage rates. In late 2019, Google announced a phase-out of third-party cookies across its platforms in a move claimed to protect consumers asking for more privacy. Client engagement is a struggle.