Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations.

Marketing 450

Marketing Mortgage Supply Chain Inventory 450

Housing Wire

MARCH 28, 2022

In this HW+ Slack Q&A , Lead Analyst Logan Mohtashami gives the inside scoop on where rates are headed, whether or not he has updates to his 2022 forecast and more. HousingWire: To begin, how has your 2022 forecast changed so far? HousingWire: How will rising rates affect new home construction? What has remained the same?

Housing Market 352

Housing Market Marketing Supply Chain Inventory 352

Housing Wire

APRIL 1, 2022

A total of 431,000 non-farm payroll jobs were added in March, and employment in the construction industry is now above its pre-pandemic level, after the industry added 19,000 jobs. If monthly gains continue at the March pace, we could return to the pre-COVID employment peak by July 2022.”. The unemployment rate dropped 0.2 a year ago.

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Housing Market Construction Marketing Real Estate 403

Housing Wire

FEBRUARY 9, 2023

Housing affordability hit a record low in the fourth quarter of 2022, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday. The all-time high of $390,000 was set in the second quarter of 2022. In the fourth quarter, just 38.1% median income of $90,000.

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Supply Chain Housing Market Marketing Mortgage 367

Housing Wire

JULY 26, 2023

That more or less lined up with mortgage application data for new builds , which showed demand up 26% year-over-year in June but down 5% from May. New home sales continue to be an outsized share of the housing market ,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. compared to June 2022.

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Housing Market Marketing Construction Inventory 362

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 15-year fixed-rate mortgage averaged 5.76% this week, down from 5.87% the prior week.

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Mortgage Inventory Retail Construction 527

Housing Wire

SEPTEMBER 20, 2021

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022. It also downsized its 2022 mortgage origination volume forecast by $55 billion to $3.25 trillion from the $4.36

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Supply Chain Inventory Government New Listings 414

Housing Wire

MARCH 27, 2024

Pre-pandemic, Jacksonville’s housing market was propelled by strong tailwinds: affordability relative to the rest of the Sunshine State, Florida’s lack of income tax and the quality of life benefits of having a river and oceanfront, to name a few. Listings jumped at both the state and city levels in 2021 and 2022.

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Brokerage Realty Real Estate Inventory 424

Housing Wire

MAY 30, 2023

below its June 2022 peak.” Low inventory , maintained by an extremely low level of new listings coming onto the market, has fueled demand amongst the few buyers who can afford to stay shopping. “As The average rate in March on a 30-year-fixed rate mortgage in March was 6.54%, with the rate dropping to 6.34% in April.

Mortgage 402

Mortgage Inventory Construction New Listings 402

Housing Wire

JULY 27, 2023

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. The 25-basis point increase to the federal funds rate was widely anticipated and priced in by capital markets. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time. million.

Mortgage 351

Mortgage Property Taxes Housing Market Buyers 351

Housing Wire

JANUARY 5, 2024

million increase of 2022. While this is below the job growth in 2021 and 2022, when the economy was rebounding from the sharp job losses in 2020, it is still a much higher pace of job growth than we had before the pandemic,” Bright MLS Chief Economist Lisa Sturtevant said in a statement. With December’s numbers in, a total of 2.7

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Transportation Construction Government Investors 427

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . ” Uptick in applications . .

Mortgage 404

Mortgage Housing Market Retail Contracts 404

Housing Wire

JANUARY 6, 2023

Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer. We ended 2022 on a solid note as 4.5 Job report. percent, the U.S.

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Mortgage Construction Marketing Housing Market 544

Housing Wire

JUNE 17, 2021

The average 30-year fixed-rate mortgage fell three basis points from the week prior to 2.93%, according to data released Thursday by Freddie Mac ‘s PMMS. This marks the first time in over two months mortgage rates have fluctuated outside a five basis point range above or below 3%.

Mortgage 442

Mortgage Housing Market Contracts Construction 442

Housing Wire

NOVEMBER 3, 2023

million, falling somewhere between their March 2022 high (12 million) and their relative pre-pandemic November 2018 high (7.6 What to expect in the housing market ? In October, construction employment continued to trend up, adding 23,000 more jobs, aligning with the average monthly gain of 18,000 over the prior 12 months.

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Marketing Construction Housing Market Government 368

Housing Wire

JUNE 2, 2023

since March 2022. Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. The unemployment rate has remained between 3.4%

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Construction Real Estate Housing Market Transportation 375

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% We do not see new construction returning in a meaningful way any time soon. Will Savage, an LO at PMC Mortgage.

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Mortgage Loan Officers Buyers Inventory 413

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% Housing acts better when rates are below 4%.

Mortgage 498

Mortgage Inventory Sellers Housing Market 498

Housing Wire

JANUARY 6, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. The supply-demand imbalance fueling the housing market shows no signs of abating in 2022, even as homebuilders attempt to bridge the gap.

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Supply Chain Housing Market Construction Inventory 493

Housing Wire

JULY 25, 2023

I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” Williams said. Todd Armstrong, A COMPASS AGENT IN SAN DIEGO Since early 2022 many insurers and reinsurers who back insurance policies have either left the state, scaled back operations or fallen into insolvency.

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Insurance Housing Market Marketing Agents 366

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data. that use trended credit bureau data.

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Legal Mortgage Contracts Insurance 380

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. According to Lawrence Yun, chief economist and senior vice president of research at NAR , “mortgage rates are likely to be past their peak and on the way downward.” since May of this year, the 4.2

Mortgage 370

Mortgage Real Estate Buyers Construction 370

Housing Wire

OCTOBER 26, 2023

“Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. Compared to 2022, NAR expects the sale of new homes to grow by 4.5% Lastly, they predict that housing starts will drop by 10.4% in 2024, to $445,800.

Inventory 393

Inventory Contracts Housing Market Realtors 393

Housing Wire

MARCH 10, 2023

Job growth continued in February, but at a slower pace, suggesting that the Federal Reserve interest rate hikes are having at least a mild impact on the labor market. However, the continued job market resilience could equate to even tighter monetary policy , spelling hard times ahead for the housing market.

Construction 342

Construction Real Estate Housing Market Retail 342

Housing Wire

JANUARY 26, 2024

A Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) requires a borrower to be at or over the age of 62 to qualify for a loan, making baby boomers most of the new qualifying candidates for a HECM. A new report from Construction Coverage sourced by its researchers and data from the U.S.

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Marketing Construction Housing Market Mortgage 416

Housing Wire

MARCH 8, 2024

The national unemployment rate ticked up for the first time in four months to 3.9%, its highest level since January 2022, but still below the full employment rate of 4%. In February, employment continued to trend up in construction, adding 23,000 jobs month over month. Lower rates this spring could give housing market demand a boost.”

Transportation 438

Transportation Retail Housing Market Construction 438

McKissock

DECEMBER 10, 2021

As the end of the year approaches, housing market predictions for 2022 abound. Fortune reviews various 2022 housing forecasts, focusing specifically on home price growth. Redfin predicts a more balanced residential market in 2022. Predictions for the top housing markets of 2022 may surprise you.

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Housing Market Appraisal Marketing Appraisal Process 79

Housing Wire

FEBRUARY 12, 2024

In 2022, rent growth rates spanned a much wider spectrum of 4.8% An abundance of new apartments recently hit the market, giving renters more options to choose from. Meanwhile, more apartments are under construction. Landlords have less pressure to fill vacancies in these markets, Redfin reported. in the fourth quarter.

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Landlords Construction Mortgage Marketing 387

Housing Wire

AUGUST 3, 2023

Mortgage rates continued to inch towards 7% this week as the 10-year treasury yields climbed past the 4% threshold. Some economists say that this development contributed to drive up the 10-year treasury yield to its highest level since November 2022. By contrast, the 30-year fixed-rate mortgage was at 4.99% a year ago at this time.

Mortgage 355

Mortgage Inventory Government Buyers 355

Housing Wire

JULY 7, 2023

The 10-year yield and mortgage rates have been rising close to the 2023 high as some labor data shows that the honey badger labor market is still growing. To make things even more complicated, the spreads between the 30-year mortgage rate and the 10-year yield keep getting wider. The four-week moving average fell, to 253,25.

Mortgage 408

Mortgage Government Marketing Insurance 408

Housing Wire

APRIL 7, 2023

Signs of a slowdown in the labor market have emerged, sparking hope that the Federal Reserve may stop its ongoing tightening monetary policy, which has spurred increasing mortgage rates. The slowdown in the labor market has been very gradual, according to them. Heavy and civil engineering construction created 7,100 jobs.

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Marketing Construction Housing Market Insurance 379

Housing Wire

MARCH 22, 2023

The program provides direct loans to Native American veterans and veterans who are married to Native American non-veterans to help with the purchase, construction or renovation of a home on trust land. A 2022 report found that the NADL program was severely underutilized , with just 89 loans originated in the continental U.S.

Mortgage 388

Mortgage Renovations Insurance Construction 388

Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today.

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Inventory Marketing Mortgage Supply Chain 393

Housing Wire

SEPTEMBER 1, 2023

The pace of hiring continued to cool in August, with job gains of 187,000, which is lower than both the 204,000 monthly average for the previous six months and the 399,000 average of 2022, said Realtor.com Chief Economist Danielle Hale. It is a low rate by historical standards, but is at its highest level since February 2022.

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Construction Housing Market Marketing Mortgage 383

Housing Wire

AUGUST 4, 2023

Job gains came in lower than both the 278,000 monthly average for the first half of 2023 and the 399,000 average of 2022. since March 2022. Employment in the construction industry continued to trend up in July, adding 19,000 jobs, especially in the residential construction space. In June, job openings eased back to 9.6

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Marketing Construction Renovations Home Improvement 327

Housing Wire

JULY 7, 2023

since March 2022. The incoming economic data has been filled with conflicting signals,” said Mortgage Bankers Association SVP and Chief Economist Mike Fratantoni in a statement. Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up.

Construction 361

Construction Renovations Government Inventory 361

Housing Wire

APRIL 14, 2023

This article is part of our 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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Realtors Buyers Inventory Sellers 423