Remove 2021 Remove Construction Remove Inventory Remove Modernization
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3 mortgage industry trends that will define the rest of 2021

Housing Wire

But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology. Inventory issues. All about the rates.

Mortgage 506
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Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

Inventory 370
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Builders apply the brakes amid canceled contracts

Housing Wire

However, for the first time in recent modern-day history — due to supply chain issues and other factors — housing completion data has lagged behind housing permits and starts. For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish.

Contracts 536
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How lenders can continue to serve borrowers despite housing affordability challenges

Housing Wire

Housing inventory remains persistently low, home prices are at all-time highs and affordability is becoming out of reach for more people with every passing day. Bill Dallas: As construction and labor costs have climbed, so, too, have home prices. HousingWire: What are the current challenges when it comes to affordable housing?

Finance 334
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Home Renovations in 2021

Lamacchia Realty

HOME RENOVATIONS IN 2021. Swimming pools and hot tubs are a hot commodity this summer and according to the team at Lamacchia Landscape Construction , they are seeing a large increase in requests from clients looking to install patios , firepits , walkways , and even basketball courts to make the most of their yards this summer.

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Originators gear up for the purchase market

Housing Wire

Refinancing’s represented nearly two-thirds of mortgage loan originations in the first three quarters of 2021, and total refi volume for the year was projected to reach north of $2.2 Industry experts also predict that home inventory will increase in 2022, creating more options for borrowers. trillion, according to the MBA.

Marketing 414
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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

The company forecasts an 8% YoY increase in new communities for 2021 across the U.S. Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. Builders began construction on just under a million single-family homes in 2020. and another 10% boost in 2022.