Remove 2022 Remove Contracts Remove Housing Market Remove Investors
article thumbnail

Home equity products light up a dark housing market

Housing Wire

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

article thumbnail

Home equity is the bright gem of the housing market

Housing Wire

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. The Fed report shows HELOC balances nationwide stood at a total of $336 billion at yearend 2022.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Opinion: Here’s the latest data on what Realtors are witnessing in the housing market

Housing Wire

However, there are a number of attention-grabbing headlines, which unfortunately only compare today’s housing market to the very recent history of the last two years. It is always good to know where we are with the real estate market, but it is essential to keep all data in historical perspective. . Historically 2.5

Realtors 392
article thumbnail

Opendoor looks to rescale business in 2024

Housing Wire

“We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. Indicative of Opendoor’s scaled-back approach to business was the fact that it bought just 11,246 homes in 2023, compared to 34,962 homes in 2022.

Business 367
article thumbnail

Housing inventory falls under 1M again as sales collapse

Housing Wire

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 housing market , we just experienced an event that most people never thought could happen.

Inventory 540
article thumbnail

2023: A year of retrenchment for the secondary mortgage market

Housing Wire

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgage 374
article thumbnail

New Wave sues Sprout for defaulting on $32M purchase of mortgages

Housing Wire

District Court of Southern District of New York against Sprout Mortgage and Sprout Mortgage Asset Trust for fraud, breach of contract, promissory estoppel and unjust enrichment. New Wave said it requested bids from multiple investors from Jan. 20, 2022, to Feb. What lenders should know about today’s economic climate.

Mortgage 376