Housing Wire

JANUARY 20, 2023

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S.

Inventory 540

Inventory Housing Market New Listings Marketing 540

Housing Wire

JANUARY 9, 2023

The housing market saw inventory fall 4% last week from the week before. Does that mean we are heading back to all-time lows in inventory again for 2023? During the last four weeks and especially this past week, we are seeing inventory decline faster than expected. Weekly housing inventory. Weekly inventory change: (Dec.

Inventory 532

Inventory Housing Market Marketing New Listings 532

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. However, we are going to see if 6% mortgage rates are good enough to create some growth in the future or if the housing market needs rates near 5%. Weekly inventory change (Jan.

Inventory 478

Inventory Housing Market Marketing New Listings 478

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. However, I knew the years 2020-2024 would see better demand from the bump in demographics.

Inventory 491

Inventory Marketing Housing Market New Listings 491

Housing Wire

MARCH 31, 2021

After eight months of consecutive gains, the consequences of low inventory finally caught up with the housing market in February. Gradually increasing mortgage rates, heightened home prices and inventory levels at historic lows finally coalesced in February to depress in-contract deals. and West (96.9) respectively.

Inventory 511

Inventory Contracts Housing Market Buyers 511

Housing Wire

OCTOBER 8, 2021

home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. Despite average 30-year mortgage rates that have remained below 3% for most of 2021, the rapid home price increases are eroding affordability for average wage earners.

Renovations 543

Renovations Inventory Marketing Property Taxes 543

Housing Wire

AUGUST 18, 2021

I have often said that both purchase applications and housing starts would be limited until we hit the period of favorable housing demographics from 2020 to 2024. Specifically, I said that purchase applications would not get to 300 in the MBA index until 2020 to 2024. The post Why aren’t builders creating more housing inventory?

Inventory 524

Inventory Buyers Business Mortgage 524

Housing Wire

APRIL 8, 2021

Mortgage credit showed signs of loosening up in March, and with it, more availability for lower credit scores and high LTV products to enter the housing market, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index rose.6%

Buyers 521

Buyers Mortgage Housing Market Government 521

Housing Wire

DECEMBER 30, 2020

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries. Quite the opposite. Sales of new homes spiked 18.6% bond market.

Mortgage 545

Mortgage Investors Housing Market Marketing 545

Housing Wire

APRIL 2, 2021

The Mortgage Bankers Association expects this heightened pace to drop unemployment numbers to below 5% by the end of the year. . Despite increased rate of tech adoption, the mortgage industry still has room for continued development and processes. Total construction employment remains 182,000 below its February 2020 level.

Inventory 513

Inventory Construction Housing Market Business 513

Housing Wire

MARCH 2, 2023

Nationwide, pre-pandemic the first week of February typically marks the lowest point for housing inventory during the year, as sellers return to the market in time for spring, but since the onset of the pandemic this predictable trend has been thrown out the window. “ What happened to ‘normal’?

Real Estate Agent 404

Real Estate Agent Inventory Real Estate Agents 404

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter.

Mortgage 524

Mortgage Inventory New Listings Sellers 524

Housing Wire

MARCH 5, 2024

Mortgage assumption is a niche option that gained momentum in 2023. An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. trillion in mortgages were originated in 2020 and 2021, the Mortgage Bankers Association (MBA) reported.

Mortgage 443

Mortgage Buyers Agents Real Estate Agent 443

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

Housing Market 543

Housing Market Mortgage Marketing Inventory 543

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

Mortgage 436

Mortgage Sellers New Listings Buyers 436

Housing Wire

AUGUST 17, 2021

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. Inventory issues. Emerging out of the pandemic, the first half of 2021 showed that there is a historically low housing inventory across multiple markets in the U.S. All about the rates. Push for tech.

Mortgage 518

Mortgage Inventory Real Estate Technology 518

Housing Wire

JUNE 25, 2021

Per a recent report from Redfin , the typical iBuyer-owned home found a buyer after 13 days on the market — the quickest pace since at least 2015, when Redfin began recording iBuyer data. That number then steadily dropped, bottoming out at 825 in the second quarter of 2020 after COVID-19 was officially declared a pandemic.

Renovations 398

Renovations Marketing Buyers Inventory 398

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. But high mortgage rates and high home prices proved too much for the listings boom in Jacksonville. Listings jumped at both the state and city levels in 2021 and 2022.

Brokerage 436

Brokerage Realty Real Estate Inventory 436

Housing Wire

AUGUST 6, 2020

mortgage rates for a 30-year fixed mortgage fell to an all-time low of 2.88% this week, the eighth time in 2020 the weekly rate has set a record in a Freddie Mac series that goes back almost five decades. The average 15-year rate fell to 2.44%, the lowest in almost 30 years of data, according to the mortgage financier.

Mortgage 518

Mortgage Inventory Buyers Housing Market 518

Housing Wire

NOVEMBER 3, 2021

For the first time since the beginning of the pandemic, purchase mortgages outpaced refinancings in the third quarter of 2021, according to the latest TransUnion report published on Wednesday. The total mortgage balances grew 8% year-over-year to $10.5 million in the same period of 2020 and 3.5 trillion in the third quarter.

Mortgage 418

Mortgage Loan Officers Inventory Housing Market 418

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgage 493

Mortgage Real Estate Agent Renovations Finance 493

Housing Wire

MAY 28, 2021

I don’t see that changing until mortgage rates increase, which will likely happen later this year. The severe lack of inventory in today’s housing market has been a source of stress for home buyers and real estate agents alike. For the week ending May 27, 30-year mortgage rates fell slightly to 2.95%.

Buyers 448

Buyers Real Estate Agent Real Estate Inventory 448

Housing Wire

DECEMBER 21, 2022

“In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” Lawrence Yun, NAR’s chief economist, said in a statement. Plus, available housing inventory remains near historic lows.”. Year over year, however, inventory is up 2.7%.

Mortgage 376

Mortgage Inventory Realtors Real Estate 376

Housing Wire

JULY 14, 2021

After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. drop in applications to the lowest level since January 2020. The refinance share of activity of total mortgage applications increased to 64.1%

Mortgage 521

Mortgage Contracts Inventory Investors 521

Housing Wire

JULY 31, 2023

Homeowners with a mortgage rate above 5% are nearly twice as likely to say that they plan to sell their home than those paying a rate below 5%, according to Zillow’s quarterly survey report. In fact, the share is even greater among mortgage holders who have a mortgage rate above 5%. However, demand remains strong.

Housing Market 370

Housing Market Mortgage Marketing Buyers 370

Housing Wire

MARCH 24, 2021

Mortgage applications decreased for the third straight week – this time down 2.5%, according to the latest report from the Mortgage Bankers Association. He added that mortgage rates have moved higher in tandem with Treasury yields. Inadequate housing inventory continues to put upward pressure on home prices,” Kan said.

Mortgage 496

Mortgage Contracts Inventory Buyers 496

Housing Wire

JULY 15, 2021

Mortgage credit availability dipped 8.5% in June to 118.8 — indicating that lending standards are tightening, per the Mortgage Bankers Association’s Mortgage Credit Availability Index. “Mortgage credit has not recovered since the sharp downturn in the first half of 2020,” Kan said.

Mortgage 482

Mortgage Government Inventory Lending 482

Housing Wire

JUNE 21, 2022

Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened. Now that mortgage rates have risen, demand is getting hit, while we are still showing 14.8%

Housing Market 540

Housing Market Marketing Inventory Mortgage 540

Housing Wire

JUNE 8, 2022

Mortgage application volume for the week ending June 3 dropped 6.5%, sliding to the lowest level in 22 years, driven by weakness in purchase and refinance applications. Purchase mortgage rates, after hitting a 13-year high of 5.27% in May, fell for three consecutive weeks, according to the Freddie Mac PMMS. of total applications.

Mortgage 418

Mortgage Inventory Contracts Retail 418

Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. NAR Research : Unsold inventory sits at a 1.7-month

Housing Market 542

Housing Market Marketing Inventory Sellers 542

Housing Wire

MAY 20, 2021

April’s 7.08% decline in mortgage delinquencies wasn’t even half of the drop March posted, but it did manage to push the national delinquency rate to below 5% for the first time since the beginning of the pandemic, Black Knight revealed in a new report. However, that is if the current pace can hold. Presented by: Move Sales.

Mortgage 506

Mortgage Real Estate Agent Inventory Real Estate 506

Housing Wire

APRIL 16, 2024

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. The reverse mortgage industry, he added, is adding its own brand of perseverance to the table.

Retail 359

Retail Mortgage Business Loan Officers 359

Housing Wire

MAY 11, 2021

The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study. Still, second-home mortgage rate locks are holding steady at more than double pre-pandemic levels. from a year earlier.

Mortgage 476

Mortgage Inventory Contracts Buyers 476

Housing Wire

MAY 25, 2022

Despite a decline in mortgage rates last week, mortgage application volume was down 1.2% The decline, as measured by the Mortgage Bankers Association ’s (MBA’s) Market Composite Index, continued to be led by a drop in the refinance share of mortgage activity, which has been consistent for more than two months. .

Mortgage 448

Mortgage Contracts Retail Inventory 448

Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. Weekly inventory change (Feb.

Housing Market 451

Housing Market Marketing Inventory New Listings 451

Housing Wire

JUNE 28, 2022

Since the summer of 2020, I have talked about how to cool down home sales: we need the 10-year yield to break over 1.94%. Imagine if mortgage rates didn’t rise this year. million total housing inventory data as that is the level of inventory that would change my thesis that this is a savagely unhealthy market.

Housing Market 482

Housing Market Marketing Inventory Investors 482

Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. Lotsoff and Brok spent nearly 10 years at loanDepot and the branch they managed originated $1 billion in volume in 2020 and 2021, Lotsoff and Brok said. “We

Loan Officers 390

Loan Officers Mortgage Lending Retail 390