Housing Wire

JANUARY 8, 2021

The country was paralyzed amid the current health crisis and many borrowers and sellers alike are frightened to enter purchase contracts and move forward with transactions already in progress. The post 2021 means new challenges for mortgage lending appeared first on HousingWire.

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Sacramento Appraisal Blog

MAY 5, 2021

“Buyers are crazy!!! How can they be paying these prices?” ” That’s what we tend to hear from people who are NOT trying to buy a house right now. It seems like onlookers really don’t understand what it takes to get an offer accepted these days. But for anyone actually in the game, the truth is […].

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Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? The early '22 market is already showing it'll be as tight or tighter than the '20 & '21 markets, buyers are tossing off all constraints to "win" the beauty contest of buying a home. Appraisals below contract price will continue to be a challenge in 2022.

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Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement. The index dropped to 116.7

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Housing Wire

SEPTEMBER 29, 2021

Homebuyer contract signings in the U.S. its highest level since January 2021. This is a strong purchase market and the uptick in inventory is bringing back some buyers who pulled back during peak frenzy.”. And homebuyers with flexibility are keen on more moderately priced regions within the Midwest and South, the report found.

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Housing Wire

JANUARY 13, 2021

Booming refinance activity in the first full week of 2021 caused mortgage applications to surge to their highest level since March 2020, despite most mortgage rates in the survey rising last week,” Kan said. “This is a positive sign of more lower-income and first-time buyers returning to the market,” Kan said.

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Housing Wire

JANUARY 27, 2023

compared to December 2021. An index of 100 is equal to the level of contract activity in 2001. “We Interested buyers are out there. “This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. Despite the monthly increase, pending home sales are down 33.8%

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Housing Wire

OCTOBER 27, 2021

Both new and existing-home sales last month were at their strongest sales pace since early 2021, but first-time home buyers are accounting for a declining share of activity.”. annual gain for the year ending in August 2021, remaining the same as the previous month. Mortgage applications increased 0.3% the week prior.

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Housing Wire

MARCH 27, 2023

Housing markets in tech hubs were in high demand during the pandemic, with potential buyers facing fierce competition on homes in cities like San Jose and Austin. in early 2021, the Texas tech hub has been impacted by tech layoffs, dwindling tech stock values and unsustainable high home prices. according to Redfin’s data.

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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. The prior week ‘s report showed a 1.8% drop in applications to the lowest level since January 2020. from 61.6% the previous week.

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Housing Wire

MAY 3, 2022

The venture capital investment is in addition to $1 billion in separate capital commitments from investors that Point has lined up to help fund what it calls home-equity investment (HEI) contracts. “We Homeowners, in turn, get to cash out a slice of their home equity with no payments due until the contract matures.

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Housing Wire

JUNE 9, 2021

Compared to last year, fewer people are applying for purchase mortgages, the MBA reported, as home prices continue to rise and prospective buyers avoid astronomical bidding wars. from 0.29 (including the origination fee) for 80% LTV loans. from 0.29 (including the origination fee) for 80% LTV loans.

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Housing Wire

JUNE 1, 2022

The refinance index dropped 5% from the previous week and was 75% lower than the same period in 2021. “Demand is high at the upper end of the market, and supply and affordability challenges are not as detrimental to these borrowers as they are to first-time buyers.”. million in 2021. of total applications from 32.3%

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Housing Wire

OCTOBER 23, 2023

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. She also said that HomeService’s guidelines state that listing brokers need to compensate buyer brokers only when the property is in the MLS. Goldberg testified that while there are roughly 2.5

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Housing Wire

MARCH 10, 2021

. “Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan said. The 30-year fixed mortgage rate climbed to 3.26% last week, which is the highest since last July and up 40 basis points since the start of 2021.”. from 12.3% the week prior.

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Housing Wire

MARCH 24, 2021

The dip in applications is linked to broader trends in the housing market: more than a year of low inventory is forcing interested buyers to snag whatever they can get their hands on, even if it’s overpriced. That’s coupled with a rise in mortgage rates , too.

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Housing Wire

FEBRUARY 3, 2023

This is done in advance of having a buyer in order to protect payments from going up in the current rate environment, Guaranteed Rate said in an announcement about the launch. While rates have been on a declining trend after peaking in October, they are still higher than the 3% levels from 2021. Guaranteed Rate originated $34.38

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Housing Wire

AUGUST 17, 2022

It was also down 62% compared to the same week in 2021. . decline from the previous week and fell 82% from the same week in 2021 to its lowest level since November 2000, driven by a 6% drop in conventional refi applications. The market composite index , a measure of mortgage loan application volume, fell 2.3% for the week ending Aug.

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Housing Wire

AUGUST 11, 2021

Homeowners continue to respond to lower rates, with refinance activity climbing to the highest level since February 2021,” said Kan. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $548,250) increased to 3.15% from 3.12%. the week prior. The post Mortgage applications up 2.8%

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Housing Wire

APRIL 17, 2023

Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up.

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Housing Wire

OCTOBER 16, 2023

Up from 45% last year and a notable increase from 37% in 2021, the report also mentioned that this share of first-time homebuyers likely hasn’t been this high since 2010, when there was a first-time homebuyer tax credit. It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks.

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Birmingham Appraisal

JULY 27, 2022

Do Buyers Have a Leg Up In Today’s Market? The smell of a market shift is in the air but what does this mean for the average buyer? Over the past two years, buyers have been put through the wringer. The steep rise in home prices, and the market’s competitive nature, have tested the resolve of buyers.

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Buyers Inventory Sellers Appraisal 87

Hank Miller Team

DECEMBER 17, 2021

It's not a rosy outlook; expect home buyer frustration to increase in 2022. So what's in store for home buyers and sellers that have to make a move this spring? So what's in store for home buyers and sellers that have to make a move this spring? The bump kinda sorta returned in 2021 but what happens in 2022?

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Housing Wire

MARCH 9, 2021

The index plunged from record highs seen in late 2019 after the COVID-19 pandemic resulted in the worst economic contraction since the Great Depression. “Expected home sales growth this year is still likely to be driven by first-time buyers, spurred by millennials reaching peak first-time homebuyer age,” Kan said.

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Housing Wire

AUGUST 25, 2021

Lower rates led to an increase in refinance applications, with government loan applications jumping 10 percent to the highest level since May 2021.” The average contract interest rate for a 30-year-fixed rate conventional mortgage decreased to 3.03% from 3.06%.

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Housing Wire

JULY 29, 2021

Though the desire for buyers to purchase a new home remains strong, skyrocketing prices are putting the dream out of reach for some buyers, economists in the housing industry said. An index of 100 is equal to the average level of contract activity during 2001, the first year examined. million in 2022 from 6 million in 2021.

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Housing Wire

MAY 10, 2022

These reports highlight the difference home buyers and potential home buyers have when embarking on the buying process. The report used real time listing data to show the limited housing inventory and the repercussions to home buyers. The second section, shows the experiences of successful home buyers by race.

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Housing Wire

NOVEMBER 2, 2022

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 7.06% on Wednesday from last week’s 7.16%, according to the Mortgage Bankers Association. . million in September 2021. million units from 6.18 Tables have turned for some sellers.

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Housing Wire

NOVEMBER 1, 2023

I have four more that I’m in negotiations on representing buyers, and in some cases, buyers who might be interested in multiple transactions, and I think I’ll know the results of those [talks] in the next couple of weeks.” trillion to $1.64 trillion, according to the MBA’s forecast.

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Housing Wire

FEBRUARY 18, 2022

Buyers were likely anticipating further rate increases and locking in at the low rates, and investors added to overall demand with all-cash offers,” said Lawrence Yun, NAR’s chief economist. Homes priced between $100,000 and $250,000 were down 23% from January 2021, while sales of homes priced between $750,000 and $1 million rose 33%.

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Housing Wire

JULY 20, 2022

Weakening economic outlook, high inflation and affordability challenges took a toll on buyer demand, leading to a drop in both purchase and refi applications last week, according to the Mortgage Bankers Association (MBA). million units in June, marking a nine-month low since September 2021, according to the U.S. Department of Commerce.

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Housing Wire

MAY 23, 2023

This new development is being propelled by an alleged Fannie Mae “request” that, according to industry sources, was made recently of several lenders active as buyers in M&A deals. The seller continues to have an obligation to manage their company that they still own after an asset deal,” one industry source explained.

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Buyers Sellers Finance Contracts 397

Housing Wire

SEPTEMBER 11, 2023

How has the foreclosure-related regulatory landscape changed since 2020 and 2021? By September 2021, however, there was still much foreclosure reluctance. Marketing and sales tools that create virtual tours, high-quality photos and detailed property listings that can be easily accessed by potential buyers online.

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Inventory Technology Design Tools 410

Housing Wire

SEPTEMBER 28, 2021

annual gain for the year ending in July 2021, up from 18.7% from July 2020 to July 2021, which is up from the 18.5% increase recorded in June 2021. Additionally, there are move-up buyers with larger budgets who are relocating to more affordable areas where they’re financially able to outbid local residents.

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Housing Wire

AUGUST 31, 2022

compared to the same week in 2021. The MBA estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) rose to 5.80% this week to the highest level since mid-July, from the previous week’s 5.65%. from the same week in 2021. for the week ending Aug. It was also down 63.8%

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Appraiserblogs

APRIL 10, 2023

According to aggregate statistics from the Uniform Appraisal Dataset released by the FHFA, roughly 57% of appraisals were above the contract price in 2021. Related Posts: A Low Appraisal is Now a Bad Appraisal A low appraisal is now a bad appraisal. Well, that's according to the headline. The article does not stress ‘bad.’…

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Housing Wire

NOVEMBER 30, 2020

However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% The faster price growth is leading to affordability challenges for certain segments of buyers, and particularly for first-time homebuyers,” Kan said. pending home sales fell 1.1% compared to a year ago.

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