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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Housing Wire

APRIL 23, 2021

While 2021 likely won’t approach the record breaking tizzy of 2020, the housing market will continue to flourish on the strength of the purchase market, according to economists at the Mortgage Bankers Association. How outsourcing gives lenders an advantage in 2021’s purchase market. “February of 2021, that had grown to $3.7

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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. in 2022.

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Housing Wire

SEPTEMBER 29, 2021

Homebuyer contract signings in the U.S. its highest level since January 2021. Increased inventory of homes for sale, near historic low mortgage rates and favorable demographics means more housing demand, ” Odeta Kushi, the First American deputy chief economist said in a statement. lower than the same time last year.

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Housing Wire

JUNE 2, 2021

Mortgage applications dropped for the second straight week , this time down 4% for the week ending May 28, 2021, according the Mortgage Bankers Association ‘s weekly mortgage applications survey. This week’s data was compared to mortgage applications from the week of Memorial Day in 2020.

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Housing Wire

MARCH 31, 2021

The 30-year fixed rate also dropped, reported at 3.33% after seven weeks of increases – but it’s still almost half a percentage point higher than the beginning of 2021. Record-low inventory is pushing home-price growth at double the rate from a year ago, and even above the 10% growth rates seen in 2005,” Kan said.

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Housing Wire

APRIL 28, 2021

decrease in applications in its latest report for the week ending April 23, 2021. Mortgage applications decreased despite mortgage rates falling for the third week in a row, indicating high prices and low inventory, said Joel Kan, MBA associate vice president of economic and industry forecasting.

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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. “We continue to see ebbs and flows as housing demand remains strong, but for-sale inventory remains low,” he said. from 61.6% the previous week.

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Housing Wire

SEPTEMBER 13, 2021

Still, the 69,563 homes that went into contract represented a 9% decrease from the high point set in May 2021. from 55% in early July 2021, according to Redfin. from 55% in early July 2021, according to Redfin. Also noted as seasonally typical is the 16% decline in new home listings from the 2021 peak in June.

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Housing Wire

SEPTEMBER 11, 2023

The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low. MC: The demand for REO assets remains strong, with inflows and overall REO inventory levels remaining significantly less than post-Q1 2020 inventories.

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Housing Wire

MAY 5, 2021

from the previous week, according to the latest report from the Mortgage Bankers Association for the week ending April 30, 2021. This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity. Mortgage applications dropped again , falling 0.9%

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Housing Wire

MAY 12, 2021

for the week ending May 7, 2021, according to the most recent report from the Mortgage Bankers Association. After weeks of decreases , mortgage applications rose 2.1% Aiding the jump in mortgage applications was another sub-3% week of mortgage rates , which fell officially to 2.96%. The refinance share of activity increased to 61.3%

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Housing Wire

JULY 21, 2021

“That’s the lowest level since January 2021.” “ Limited inventory and higher prices are keeping some prospective homebuyers out of the market,” Kan said. “ Limited inventory and higher prices are keeping some prospective homebuyers out of the market,” Kan said. from 64.1%

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Housing Wire

DECEMBER 4, 2020

CoreLogic released its final three-year housing and mortgage outlook report for the year on Thursday, and if numbers hold up, the data company predicts 2021 will maintain its unprecedented sales and record low mortgage rates as the economy continues to recover. Especially when contract interest rates for refis are below 3%.

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Housing Wire

SEPTEMBER 22, 2022

With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. That was a huge red flag, hence all the statements in 2021 about unhealthy housing. . From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

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Housing Wire

FEBRUARY 28, 2022

regions, only the West registered an increase in month-over-month contract activity. My premise was that the pending home sales data should moderate from the surge in make-up demand we saw in 2020 and then spill over into the first two months of 2021. Of the four major U.S. Last year, I had a similar theme with pending home sales.

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Housing Wire

MARCH 24, 2021

Inadequate housing inventory continues to put upward pressure on home prices,” Kan said. 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.

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Housing Wire

SEPTEMBER 7, 2022

With the 30-year fixed-rate hovering above the 6% level again , there’s no sign of a rebound in applications yet, despite a robust job market and growing housing inventory. compared to the same week in 2021. from the same week in 2021. The market composite index, a measure of mortgage loan application volume, fell 0.8%

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Housing Wire

FEBRUARY 3, 2021

“Average purchase loan amounts in early 2021 continue to rise across all loan types, driven by a strong pace of home sales, tight housing inventory and high home- price growth.” ” The FHA share of total mortgage applications decreased to 9.1% the week prior. The VA share of total mortgage applications decreased to 12.1%

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Housing Wire

MARCH 10, 2021

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.”. Climbing rates are combining with low inventory and high home prices to keep mortgage applications low, Kan said. The VA share of total mortgage applications decreased to 11.1% from 12.3%

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Housing Wire

OCTOBER 18, 2021

But on Monday the home listings giant called a timeout on purchasing homes through the end of 2021. Zillow will keep trying to sell existing home inventory, plus renovate and try to resell homes it has purchased under contract, according to a company press release. billion in unsold home inventory.

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Housing Wire

JUNE 23, 2021

for the week ending June 18, 2021, per the latest report from the Mortgage Bankers Association. With inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller’s market.”. For the second week in a row, mortgage applications increased — this time, up 2.1% the previous week.

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Housing Wire

FEBRUARY 17, 2021

The housing market in early 2021 continues to be constrained by low inventory and higher prices. The average contract interest rate for 5/1 ARMs decreased to 2.83% from 2.92%. The average contract interest rate for 5/1 ARMs decreased to 2.83% from 2.92%.

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Housing Wire

OCTOBER 5, 2023

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. The recent Saluda Grade-sponsored rated offering represents the sixth securitization deal since 2021 backed fully by shared-equity contracts — valued in total at some $1.3

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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. This popularity has resulted in constrained inventory.

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Hank Miller Team

APRIL 6, 2022

It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022? A low in listings was reached in Feb 2021 after a Tower of Terror free fall at the start of the pandemic. The Covid collapse in listings is clear here as is the corresponding dip in Jan 2021 sales.

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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 post Mortgage applications up 2.8%

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Housing Wire

NOVEMBER 30, 2020

However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% Realtors cited a combination of high demand and low inventory, which are making conditions more competitive and exerting upward pressure on prices. pending home sales fell 1.1% compared to a year ago. Presented by: Fannie Mae.

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Housing Wire

MAY 11, 2021

the biggest increase in luxury-home sales in the first quarter of 2021 was Miami, with sales up 101.1% The consequences of low inventory finally caught up with the broader housing market in February, with tightened supply largely responsible for a 10.6% When looking at the largest markets in the U.S., from a year earlier.

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Housing Wire

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% 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%. Homes went under contract in just 19 days on average, down from 21 a year ago.

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Housing Wire

OCTOBER 15, 2021

One-third of homes that went under contract had an accepted offer within one week of hitting the market, a new report from Redfin found. In addition, the number of homes that went under contract within two weeks of listing rose to 46% from 42% during the same period in 2020. points from a month earlier.

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Housing Wire

MARCH 27, 2023

in early 2021, the Texas tech hub has been impacted by tech layoffs, dwindling tech stock values and unsustainable high home prices. In addition, just 16% of the homes in Austin went under contract within two weeks of hitting the market. While Austin was the most popular migration destination in the U.S.

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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%. The mix of refis was unchanged from the previous week at 67.3%

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Housing Wire

SEPTEMBER 15, 2023

of homes that went under contract that month, according to a new report from Redfin. Home prices not expected to fall Home prices are high due to competition among buyers for limited inventory in the market. year over year, the largest annual decline since June 2021. That rate is up from 14.3% The median U.S. This price was 2.8%

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Housing Wire

NOVEMBER 24, 2021

“Both conventional and government loan applications increased, and the average loan size for a purchase loan was at $407,200, continuing its ongoing 2021 run of being mostly above $400,000,” Kan said. year-over-year, and purchase apps decreased 6% in the same period, a symptom of even lower levels of inventory.

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Housing Wire

JANUARY 27, 2021

Purchase applications also decreased last week, but the impressive trend of year-over-year growth since the second half of 2020 has continued in early 2021.” ” The seasonally adjusted purchase index decreased 4% from one week earlier, while the unadjusted purchase index increased 3 % compared with the previous week. from 13.8%

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Housing Wire

JUNE 5, 2023

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 We liked that we’d have the opportunity to be more entrepreneurial and have more freedom.

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