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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

Inventory 432
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Mike Fratantoni on MBA’s 2022 mortgage market forecast

Housing Wire

Public health officials note that we have many more tools to address this latest — and likely not the last — challenge. The main takeaway from Mortgage Bankers Association forecast is that we see 2022 as a transition year, moving from a refinance market to a purchase market. today, will reach 4% by the end of 2022.

Marketing 446
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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale,” said Sam Khater, Freddie Mac’s chief economist.

Mortgage 527
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Adam Wiener steps down as Redfin’s president of real estate services

Housing Wire

During his tenure, Wiener first served as a product manager for agent tools. He then went on to run the partner program, analytics, marketing and a variety of new businesses. Kelman closed his memo by expressing his optimism for the year to come while acknowledging Redfin’s steady recovery from the housing downturn.

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Home sales are going to nosedive in 2023, Fannie Mae says

Housing Wire

The forecast for the housing market in 2023 gets worse by the month, with the latest report predicting a million-plus decline in existing home sales. trillion in 2022, a $78 billion decline from last month’s forecast. The mortgage market is projected to slip further to $1.3 million in 2022 and 3.93

Contracts 414
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The current challenges to increasing the homeownership gap

Housing Wire

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. In February, NAR in partnership with Realtor.com released The Double Trouble of the Housing Market report. For Asian Americans the rate is 61.7%

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Overblown rumors of demise? NAR has lost only 45K members since December

Housing Wire

Details of the latest membership count comes as the trade group works to implement a series of major rule changes stipulated by the Sitzer/Burnett commission lawsuit settlement agreement, as well as fewer market opportunities for members due to historically low levels of existing-home sales inventory. Membership dipped just below 1.5

Realtors 297