Housing Wire

JUNE 3, 2022

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

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Construction Renovations Transportation Real Estate 458

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 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier. The Fed next meets on Jan.

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Mortgage Inventory Retail Construction 530

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 421

Housing Wire

AUGUST 28, 2023

Retail lender Guild Mortgage announced Monday the acquisition of First Centennial Mortgage, a privately-held Illinois-based lender with 15 branches predominantly in the Midwest and a presence in 17 states. Guild has been acquiring lenders to expand in local markets in a purchase mortgage-focused environment.

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Mortgage Retail Loan Officers Construction 370

Housing Wire

MAY 30, 2023

Low housing inventory and still-strong demand kept prices high in March, according to the latest according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. below its June 2022 peak.” increase in home prices in the first quarter of 2023 from the first quarter in 2022. House prices were up 0.5%

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Mortgage Inventory Construction New Listings 410

Housing Wire

JUNE 21, 2023

On the heels of the Federal Reserve pausing its rate hikes, mortgage demand increased, but only slightly. For the week that ended June 21, mortgage applications only climbed 0.5% from the prior week , according to the Mortgage Bankers Association. from May 2022, to 1.63 On Tuesday, U.S. from April, and were up 5.7%

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Mortgage Inventory Construction Buyers 370

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. in events to garner business. Roughly 36.3%

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Housing Market Mortgage Marketing Inventory 421

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. Listings jumped at both the state and city levels in 2021 and 2022. But high mortgage rates and high home prices proved too much for the listings boom in Jacksonville.

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Brokerage Realty Real Estate Inventory 450

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. Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” between 2022 and 2023, settling at 1.39

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Inventory Contracts Housing Market Realtors 410

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 370

Mortgage Inventory Government Buyers 370

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire.

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Inventory Construction Mortgage Buyers 466

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). The question is when are rates going to come down?”

Real Estate 458

Real Estate Inventory Sellers Realtors 458

Housing Wire

NOVEMBER 30, 2021

As we look forward to 2022, the non-QM market is predicted to grow substantially. Purchase mortgage originations in total are expected to grow 9% to a new record of $1.73 trillion in 2022, according to the Mortgage Bankers Association – non-QM will be part of that, of course. Refinance decline. Housing supply shortage.

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Supply Chain Lending Investors Renovations 408

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. “The Will Savage, an LO at PMC Mortgage.

Mortgage 421

Mortgage Loan Officers Buyers Inventory 421

Housing Wire

SEPTEMBER 27, 2023

After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. Fueling this increase is new construction, according to Divounguy, even though the 1.3% A steady flow of new homes have hit the market this spring and summer, as homebuilders worked diligently to remedy the housing inventory shortage.

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Housing Market Marketing Inventory Construction 515

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% We saw this in 2013-2014 and 2018-2019. million to 5.12

Mortgage 504

Mortgage Inventory Sellers Housing Market 504

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 450

Mortgage Housing Market Contracts Construction 450

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory. 2022 to Dec.

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Tools Inventory Sellers Buyers 421

Housing Wire

JULY 18, 2023

This is the index’s highest reading since June 2022. The NAHB attributes the continued rise in builder confidence to low existing home inventory. With shelter inflation accounting for 40% of the Consumer Price Index , the NAHB says the best way to combat this is to build additional for-rent and for-sale housing.

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Inventory Construction Buyers Housing Market 370

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 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. That means mortgage rates will be coming down.

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Marketing Construction Housing Market Government 409

Housing Wire

APRIL 14, 2023

Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. These all-cash homebuyers are happily avoiding the higher mortgage interest rates, which touched 7% in the fall of 2022 before trending down to the current rate of 6.28%.

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Realtors Buyers Inventory Sellers 432

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. What about existing homes?

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Supply Chain Housing Market Construction Inventory 500

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 370

Construction Renovations Government Inventory 370

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. On average, CoreLogic predicts mortgage rates to sit closer to 3.2%

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Mortgage Contracts Construction Inventory 512

Housing Wire

APRIL 27, 2023

For the first time since November 2022, pending home sales fell in March, posting a 5.2% The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In addition, NAR forecasts that mortgage rates will drop to 6.0% year over year. in 2023 and 5.6%

Inventory 432

Inventory Realtors Contracts Construction 432

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. “I higher than last year.

Mortgage 384

Mortgage Loan Officers Inventory Retail 384

Housing Wire

SEPTEMBER 22, 2022

The latest forecast also projects total mortgage origination activity at $2.44 trillion in 2022. The mortgage market is projected to slip further to $2.17 In August, the national inventory of unsold existing homes was at 3.3-month In August, the national inventory of unsold existing homes was at 3.3-month

Housing Market 410

Housing Market Supply Chain Marketing Inventory 410

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%

Construction 384

Construction Real Estate Housing Market Transportation 384

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. It’s a unique housing market, unparalleled in recent years, for the active inventory to be so heavily skewed towards new construction. compared to June 2022. year over year.

Housing Market 370

Housing Market Marketing Construction Inventory 370

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. The number of unemployed Americans also rose to 6.5 and were up 4.3%

Transportation 450

Transportation Retail Housing Market Construction 450

Housing Wire

FEBRUARY 15, 2024

Older Americans also have financial incentives attached to staying in their homes, since 54% of the baby boomer cohort own their homes free and clear without making monthly mortgage payments. Census Bureau ’s one-year American Community Survey in 2022, the most recent year for which data is available.

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Property Taxes Insurance Construction Inventory 466

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

Marketing 368

Marketing Construction Renovations Home Improvement 368

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory.

Renovations 410

Renovations Realtors Construction Mortgage 410

Housing Wire

JULY 27, 2023

The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. Home prices will be influenced by how much inventory is brought to market. from 2022 to 2023, to 1.47

Construction 370

Construction Inventory Realtors Housing Market 370

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? Inventory has been falling for years. What has remained the same?

Housing Market 370

Housing Market Marketing Supply Chain Inventory 370

Housing Wire

MARCH 29, 2023

from February 2022. Homebuyers have been closely watching mortgage rates, which have been volatile during the first few months of the year,” said Lisa Sturtevant, chief economist for Bright MLS. To boot, mortgage rates declined in January but rose again in February, closing out the month in the 7% range. from February 2022.

Contracts 306

Contracts Realtors Home Value Housing Market 306

Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. The chart below shows interest rates for the 30-year fixed-rate mortgage will end this year at about 3% and could hit around 3.3%

Mortgage 410

Mortgage Inventory Housing Market Construction 410