Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

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Housing Wire

JANUARY 25, 2023

Long-term mortgage rates responded by rising from 3.25% in early 2022 to over 7.25% in October 2022, more than doubling. Mortgage interest rates The unrelenting Fed policies to combat inflation will eventually instigate an economic recession sometime in 2023. As inflation eases, so will long term mortgage rates. The overall U.S.

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Housing Wire

MARCH 9, 2021

As the first quarter of 2021 nears its end, a recent Redfin report shows both good and bad news for Black homeowners. The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021.

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Housing Wire

SEPTEMBER 11, 2023

While credit cards and auto loans aren’t directly related to mortgages , they comprise segments within the three main consumer debt categories. Conventional wisdom would dictate that the third category, mortgages, will follow if two of the three are negatively impacted.

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Housing Wire

OCTOBER 14, 2021

From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%. From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%.

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Housing Wire

MAY 4, 2022

Annual house price growth hit a record high in 2021, over 17%, and growth remains in the double digits thus far in 2022. Homes that reach the market sell quickly, bidding wars are the new normal and the investor share of sales continues to rise. Mortgage credit availability remains tighter than it was pre-pandemic.

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Housing Wire

FEBRUARY 1, 2023

Interest rates, though down slightly in recent weeks, are still double what they were at the end of 2021, and the Federal Reserve continues its monetary tightening policies to fight inflation. Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range]. in year one, go to 5.2%

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Housing Wire

JULY 14, 2021

For the first time in a year, the number of buyers who locked in mortgage rates to purchase a second home fell in June. Per a recent Redfin study , second home mortgages saw a year-over-year decrease of 11.1%. Home prices in seasonal towns, meanwhile, rose 28% year over year to $468,000 in June.

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Housing Wire

JUNE 10, 2022

Affordability concerns were also reflected in USMI’s 2021 National Homeownership Market Survey, which reported that 69% of Americans say lack of affordable housing is the biggest homebuying challenge. Buyer morale is at an all-time low for good reason. points year-over-year with only 24% of consumers saying now is a good time to buy.

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Housing Wire

DECEMBER 16, 2022

For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. nationally since 2004 and roughly 5% the past two years, based on the most recent industry data from 2021. The buyers purchased title insurance, which turned out to be an excellent investment.

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Houston Properties

JULY 22, 2022

Home Value Of My House: Tips for Pricing Your Houston Home. Asking yourself, "What is the home value of my house in Houston"? Use this Houston home valuation tool from HoustonProperties.com. Value Your Home. Planning to sell your home but overwhelmed with all the steps to take?

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Housing Wire

JANUARY 13, 2023

The nation’s single-family investment-property sector and the lenders serving those borrowers face some major challenges in 2023 as rent growth is slipping, vacancy rates growing, home-value growth faltering, and a possible recession looms. . Mortgage production in 2022 nationally was down about 50% from $4.44

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Housing Wire

FEBRUARY 21, 2023

Jay Farner likes to tell a story about his early days at Rock Financial , which would become Quicken Loans and eventually Rocket Mortgage. It was 1996 and Dan Gilbert , the founder and CEO, announced that the company’s mortgage bankers weren’t going to meet with applicants face to face. With the Feb.

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Robinson Appraisal Group

NOVEMBER 25, 2022

Lower rates typically promote an increase in demand for properties, this in turn drives up pricing, while on the flip side of that, higher interest rates reduce the demand since the costs of a mortgage increase deterring prospective home buyers. As mortgage rates increase, houses become less affordable.

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Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. It only takes a few bad appraisers doing this kind of thing to cause home prices to artificially inflate. Granted, mortgage rates were not terrible. 30-Year Fixed Mortgage Rates from 2000 to today.

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Housing Wire

JULY 25, 2023

One of my recent new home buyers got their final quote on a property a 30-minute drive from the coast and it had gone up 40% from a year ago. The rising costs and lack of availability of homeowners insurance has forced many homeowners and buyers to turn to Citizens Property Insurance Corporation , the state’s insurer of last resort.

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Eppraisal

JANUARY 28, 2022

The 2021 real estate market was a record-breaking year. Home sales are expected to increase another 6.6% and home prices to rise another 2.9% on top of 2021 highs." and data from Freddie Mac, low interest rates and limited availability of homes in desired areas led to an overall increase of home prices of 11.3%

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Eppraisal

SEPTEMBER 24, 2021

The market normally remains strong, and home values rise, through the spring and summer months. The 2021 fall real estate market is going to be different. Researchers at Freddie Mac have estimated that "the current shortage of homes is close to 3.8 Buyer demand is very high and prices are rising at record-breaking levels.

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Quicken Loans

DECEMBER 16, 2021

Anyone keeping an eye on the real estate market watched for predictions in 2021. Mortgage rates dropped down to record lows that carried through much of 2021. In addition, home values and sales skyrocketed. So, it’s no wonder that a year like that left experts and new buyers guessing. Buyer demand continued.

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Cleveland Appraisal Blog

APRIL 29, 2021

That does not cost a lot and it instantly “lifts” the appearance of your home. It also makes it more likely that appraisers and buyers overlook or do not notice previous damage. If there is something I’ve learned, especially this year, it’s that outdoor space is critical for buyers and for the overall value of the house.

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Eppraisal

OCTOBER 19, 2021

This is due to low interest rates, historically low inventory and more than usual buyers flocking to the market, thus, homes have been selling in record time. As a result, home values have been increasing. Buyers are offering sellers prices considerably above list price in many cases.

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Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. This highlights the importance of Avoiding the 9 Most Common Mistakes Buyers Make. Buyers Beware? In addition, mortgage rates are at an all-time low.

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Lamacchia Realty

NOVEMBER 9, 2022

With interest rates nearly doubled since January, you may be hesitant to sell your current home and give up your low-rate mortgage for a higher, new mortgage. However, this rise in interest rates is in turn slowing down the growth of property values which can potentially benefit buyers. Buyer Resources.

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Eppraisal

JUNE 8, 2021

Record sales, high prices, and lots of competition are only a few of the many challenges' buyers are facing in today's market. According to Realtor.com's April 2021 Monthly Housing Market Trends Report, the national inventory of active listings declined by 53% over last year. Prices Too High Home values are rising.

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Marketing Sellers Buyers Home Value 69

Housing Wire

NOVEMBER 7, 2023

And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets. “I single-family home was $3,901, up 3% compared to 2021, ATTOM reported.

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Property Taxes Home Value Government Buyers 540

Eppraisal

APRIL 5, 2021

Although the real estate market was not immune from the effects of business shutdowns and curtailments in 2020, neither was it hobbled: unprecedented low mortgage rates; strong millennial demand; and the flight from city to suburbs hastened buying and selling in America. Buyers should exploit the low financing rates.

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Marketing Mortgage Finance Home Value 36

Eppraisal

APRIL 20, 2021

Due in part to the inventory of available homes for sale being historically low, it was low at the end of 2019 and continues to drop. According to a homebuyinginstitute.com article, in February of 2021, there were fewer home for sale than in February 2020. With limited inventory, home values are on the rise.

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Sellers Loan Officers Inventory Home Value 66

Eppraisal

DECEMBER 14, 2021

This fact will give hope to buyers for the long term but what about the more immediate future? Home Prices Yes, home values will continue to rise against other economic pressures, according to an estimation reported by Fannie Mae. Moreover, the age of repeat buyers is also ascending to 56 years of age.

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Eppraisal

SEPTEMBER 22, 2021

According to an article on Bankrate.com, written by Jeff Ostrowski, "Mortgage rates plumbed to new depths in January 2021, setting all-time lows south of 3 percent." over last year, while the total inventory of unsold homes, including pending listings, declined by 13.8%. There weren't near as many buyers.

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Eppraisal

FEBRUARY 18, 2022

It follows that interest rates play a significant role as to whether financing the home value is affordable. While local banks can tweak the rates they offer for home loans, this relationship is the primary mover. According to numbers out of Freddie Mac, a government-backed mortgage investor, rates have already inched up from 2.67

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Cornerstone

APRIL 30, 2021

Spring home sales should be speedier. Here’s a quick recap of why selling can be a smart move this spring: Springtime normally shows an influx of buyer activity. NAR’s recent Existing Home Sales report showed that pre-spring home sales were up 23.7 Spring is a favorable season for move-up buyers.

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Sellers Buyers Inventory Loan Officers 66

Eppraisal

APRIL 12, 2022

." Home prices are increasing at levels we couldn't even imagine a few years ago. According to the same article, "Last year, home values appreciated an average of 15% across the nation." " There has been a backlog of buyers for a couple years now. Gen Z members were born between 1997 to 2012.

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Home Value Real Estate Buyers Realtors 36

Lamacchia Realty

FEBRUARY 21, 2023

Essentially, this means that half the time, Zillow’s home value estimates are within 7.49% of the actual value. In a world where buyers and sellers are already skeptical of real estate agents, Zillow only makes things harder for them, therefore causing conflict and distrust.

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Real Estate Agent Real Estate Sellers Realtors 73

Cornerstone

SEPTEMBER 3, 2021

Now that we’ve reached the second half of 2021, it’s apparent: Today’s housing market is breaking records. This year, homes are continuing to be listed at seasonally-elevated rates later into the summer season, a welcome sign for a tight housing market. ”. For buyers desperately in need of more listings, this is exciting news.

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Housing Market Marketing Inventory Loan Officers 49

Eppraisal

AUGUST 9, 2022

Back then the economy dove down into a deep recession and home values plummeted. Here are a couple key differences from the last Recession: Home Prices Still Increasing The past few years homeowners have been enjoying property value increases. Inflation rates have been high and there is talk of a recession.

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Empire Appraisal Group

JULY 29, 2021

Home Price Increase: The Highest in More than 15 Years. Source: Home Price Increase: The Highest in More than 15 Years | Florida Realtors. JUNE 29, 2021. Home Price Increase: The Highest in More than 15 Years. Nearly 9 of 10 homes were on the market for less than a month. Copyright 2021 The Associated Press.

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Housing Wire

JANUARY 25, 2021

Zillow’s 2021 housing forecast echoes the projections of other industry experts of a rapid acceleration of home value appreciation, with numbers anticipated to be even higher than in 2020. According to Zillow’s Home Value Index, the company expects seasonally adjusted home values to increase by 3.7%

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