Housing Wire

FEBRUARY 6, 2024

The elevated interest rate environment has brought an old product, the assumable mortgage, back into fashion. Assumable mortgages remain a niche market compared to new mortgage issuance. An assumable mortgage enables qualified buyers to take over the seller’s mortgage terms, including the existing balance and interest rate.

Mortgage 391

Mortgage Sellers Advertising Buyers 391

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!)

Housing Market 509

Housing Market Marketing Real Estate Agent Real Estate 509

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 409

Mortgage Sellers New Listings Buyers 409

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

Mortgage 528

Mortgage Inventory New Listings Sellers 528

Housing Wire

MARCH 9, 2024

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? Mortgage rates and the 10-year yield The 10-year yield is the key for all my housing work, so I focus on it religiously. We haven’t broken either yet.

Mortgage 465

Mortgage Inventory New Listings Housing Market 465

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. “With BUY+, Rocket Mortgage is making this process a lot easier to achieve, lowering a hurdle for those who are ready for a home of their own.”

Agents 394

Agents Buyers Real Estate Agent Mortgage 394

Housing Wire

MARCH 5, 2024

Ahead of Friday’s national jobs report, mortgage rates have found stability after increasing for multiple weeks. Polly ’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. one week earlier. Between Feb.

Mortgage 445

Mortgage Inventory Sellers Investors 445

Housing Wire

AUGUST 22, 2023

The housing market continues to cool amid high mortgage rates , low inventory and rising property insurance rates. compared to July 2022. Median home prices there were roughly unchanged from the same period in 2022. Elevated mortgage rates and low inventory As of August 17, mortgage rates surpassed 7% as U.S.

Buyers 309

Buyers Inventory Realtors Housing Market 309

Appraisal Buzz

MARCH 26, 2024

The surge in listings is bringing some buyers back to the market, the firm says. Mortgage-purchase applications and Redfin’s Homebuyer Demand Index—a measure of requests for tours and other buying services from Redfin agents—are each up roughly 9% month over month. The median U.S. home-sale price is up 5.3%

New Listings 195

New Listings Buyers Marketing Inventory 195

Housing Wire

MARCH 2, 2024

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. The idea is that nobody will trade their low mortgage rates to buy another home — even though this happened every week last year. With mortgage rates higher, will this stop inventory from growing year over year?

Inventory 534

Inventory Mortgage New Listings Housing Market 534

Housing Wire

NOVEMBER 25, 2023

Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. The question now is what will inventory look like in the spring if mortgage rates keep falling?

Inventory 531

Inventory Mortgage New Listings Buyers 531

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. I will watch for rising mortgage rates to see if they change the weekly data. I will watch for rising mortgage rates to see if they change the weekly data. I talked about this very topic on CNBC a few days ago.

Inventory 540

Inventory Mortgage New Listings Sellers 540

Housing Wire

AUGUST 10, 2023

Wells Fargo rolled out a down payment grant program that will offer $10,000 to eligible buyers or homeowners who currently live in or are purchasing homes in underserved communities in eight metropolitan areas. Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream.

Buyers 370

Buyers Lending Mortgage Finance 370

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgage 522

Mortgage Marketing Retail Lending 522

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2% According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2%

Sellers 527

Sellers Mortgage Loan Officers Buyers 527

Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? Also, when mortgage rates rise, the inventory peak happens later in the year. Never forget most sellers are buyers of homes as well, especially if the economy isn’t in a job loss recession. Is the seasonal bottom going to happen later than I want?

Inventory 509

Inventory Mortgage New Listings Housing Market 509

Housing Wire

AUGUST 24, 2023

Soaring mortgage rates are taking a major chunk out of homebuyers’ budgets, according to a new report from Redfin. mortgage rate, using rate data from August 23. That buyer lost $71,000 in purchasing power compared to one year ago when a $500,000 home would have been accessible to them with an average rate of about 5.5%.

Buyers 355

Buyers Agents Inventory Mortgage 355

Housing Wire

JANUARY 31, 2024

Mortgage demand slumped last week as consumers hit the brakes on purchase applications. Mortgage applications decreased by 7.2% 26 compared to one week earlier on a seasonally adjusted basis, according to the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey. in the week ending Jan.

Mortgage 397

Mortgage Retail Buyers Finance 397

Housing Wire

JULY 28, 2023

High mortgages and stubbornly elevated home prices are worsening the housing affordability crisis. Average mortgage rates hit 6.7% As a result of the limited supply, still-rising prices and elevated mortgage rates, sales activity for starter homes has stifled. asking rent is just $24 shy of the $2,053 peak hit in 2022.

Buyers 370

Buyers Housing Market Investors Real Estate 370

Housing Wire

DECEMBER 2, 2023

Mortgage rates almost fell below 7%, the 10-year yield is below 4.25% again, and people are seriously talking about Fed rate cuts in 2024. Mortgage rates have fallen by almost 1% in a short time, and it has created four straight weeks of positive purchase application data. Mortgage rates and the 10-year yield We are back!

Mortgage 542

Mortgage Inventory New Listings Sellers 542

Housing Wire

APRIL 23, 2024

loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” That’s kind of evaporated,” Martell said on Tuesday morning in a session during The Gathering , HousingWire’s real estate and mortgage conference held in Scottsdale, Arizona.

Mortgage 298

Mortgage Real Estate Agent Real Estate Renovations 298

Housing Wire

FEBRUARY 8, 2024

Mortgage rates stabilized this week despite newly released economic data. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. 8, a slight increase from last week ’s figure of 6.63%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgage 416

Mortgage Marketing Sellers Buyers 416

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 416

Mortgage Buyers Agents Real Estate Agent 416

Housing Wire

NOVEMBER 3, 2023

I actually started out as a buyer’s agent myself… and I see buyer’s agency as being a very valuable tool for buyers,” Sanford said during the Q&A session. I’m concerned, quite frankly, about what this might mean to buyers who may not be able to afford representation if things change up too much.” million to $14.90

Buyers 366

Buyers Realty Real Estate Realtors 366

Housing Wire

NOVEMBER 10, 2023

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. High mortgage rates are exacerbating inequality between people who own homes and people who don’t,” Redfin Senior Economist Sheharyar Bokhari said. That’s the highest down-payment percentage since June 2022. respectively.

Mortgage 432

Mortgage Buyers Insurance Government 432

Housing Wire

APRIL 6, 2023

Mortgage rates fell again this week, but the primary cause was not the banking crisis fiasco. According to Freddie Mac ’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage declined to 6.28% as of April 4, down from 6.32% the previous week. range mid-week, and mortgage rates also tracked lower,” Jones added.

Mortgage 466

Mortgage Investors Buyers Inventory 466

Housing Wire

AUGUST 13, 2023

Last week ended with a wild ride for mortgage rates. We anticipated the two inflation reports could help mortgage rates, however, we had a bad bond auction last Thursday, and the 10-year yield rose sharply. This pushed yields higher Thursday and Friday to move mortgage rates to 7.19%. We saw an example of that last week.

Mortgage 366

Mortgage Inventory New Listings Retail 366

Housing Wire

SEPTEMBER 7, 2023

That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. The lender and LO can make or break the transaction.”

Buyers 388

Buyers Agents Loan Officers Real Estate 388

Housing Wire

APRIL 14, 2023

First-time homebuyers are the driving force of the housing market and typically utilize low down payment mortgages to achieve homeownership. The benefits of homeownership only accrue if first-time buyers can both successfully purchase a home at a reasonable price and remain in it for the long-term, weathering various economic cycles.

Finance 343

Finance Buyers Insurance Housing Market 343

Housing Wire

JANUARY 20, 2023

The phrase “in like a lion, out like a lamb” is typically used to describe the month of March, but it is also applicable to existing home sales trends in 2022. The housing market may have started 2022 out with a bang, but it exited the year with a whimper,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement.

Inventory 359

Inventory Housing Market Realtors Buyers 359

Housing Wire

FEBRUARY 3, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Thanks to a boom in the housing market and a historic refinance market, the past two years have been a favorable period for the mortgage market. 2022 Forecast series.

Housing Market 410

Housing Market Marketing Supply Chain Mortgage 410

Housing Wire

JUNE 23, 2022

Austin-based mortgage tech platform UpEquity laid off around 10% of its workforce last week, proof that the rising interest rate landscape hurts real estate technology companies, too. . The company then receives monthly payments with interest from the homebuyers, who can avoid going through a bank to get a mortgage.

Buyers 353

Buyers Investors Technology Training 353

Housing Wire

MARCH 8, 2024

The Desjardins Group , a Quebec-based lender, is no longer issuing mortgages in high-risk flood areas, multiple media outlets reported this week. The sales prices of these homes dropped by 8% within six months following a natural disaster, according to a 2022 report by researchers at the University of Waterloo.

Insurance 385

Insurance Mortgage Housing Market Buyers 385

Housing Wire

APRIL 25, 2023

Rocket Central ‘s new vice president of public policy, Karan Kaul, plans to prioritize homeownership opportunities for first-time homebuyers , households of color, low- and moderate-income households that have historically found it difficult to access mortgage credit.

Buyers 331

Buyers Finance Real Estate Agent Government 331

Housing Wire

JANUARY 27, 2023

Pending home sales ended 2022 on a positive note. Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.” “This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. compared to December 2021.

Contracts 421

Contracts Realtors Mortgage Buyers 421

Housing Wire

OCTOBER 20, 2023

The last two years of soaring mortgage rates and rising home prices have brought the fastest erosion in housing market affordability in modern history, and it’s hurt first-time homebuyers the most. home, up 15% ($15,285) from a year ago and up more than 50% since the start of the pandemic in early 2022.

Housing Market 499

Housing Market Marketing Buyers Modernization 499

Housing Wire

NOVEMBER 23, 2022

Recent declines in mortgage rates, which are due to a slowdown in inflation growth, have been enough to convince some borrowers to apply for new home loans, according to recent data on mortgage applications. . Mortgage rates differed slightly on other platforms, and were 6.65% for conforming loans at Mortgage News Daily on Tuesday. .

Mortgage 464

Mortgage Buyers Sellers Marketing 464