Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 But we can’t blame high mortgage rates for the deficit in transactions last year. million existing homes were sold, the fewest since 1995.

Inventory 441

Inventory Realtors Housing Market Construction 441

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.

Construction 397

Construction Real Estate Agent Loan Officers Legal 397

Housing Wire

FEBRUARY 13, 2024

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022.

Buyers 458

Buyers Design Construction Marketing 458

Housing Wire

DECEMBER 21, 2023

Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac ‘s Primary Mortgage Market Survey. Some prospective homebuyers were simply priced out of the market.

Mortgage 500

Mortgage Inventory Construction Marketing 500

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 410

Mortgage Housing Market Retail Contracts 410

Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% The increase in contract signings can be attributed to a decline in mortgage rates in January after a run-up in rates in October and November ,” Holden Lewis, NerdWallet ’s home and mortgage expert, said in a statement. months in December.

Construction 432

Construction Contracts Buyers Development 432

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Against that backdrop, Zillow identified prime markets for first-time homebuyers , and half of them were nestled in the Midwest.

Housing Market 458

Housing Market Marketing Training New Listings 458

Housing Wire

JANUARY 3, 2024

Mortgage demand fell over the holidays despite declining mortgage rates. Mortgage applications decreased 9.4% 29 compared to two weeks earlier, according to data from the Mortgage Bankers Association (MBA). for the week ending Dec. Purchase applications decreased by 5% week over week on an adjusted basis.

Mortgage 447

Mortgage Housing Market Construction Inventory 447

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officers 421

Loan Officers Mortgage Retail Lending 421

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde worked at Optimal Blue for five years before joining Go Mortgage, according to her LinkedIn profile.)

Mortgage 370

Mortgage Marketing Retail Construction 370

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. Nik Shah, CEO of Home LLC.

Mortgage 384

Mortgage Marketing Loan Officers Contracts 384

Housing Wire

NOVEMBER 3, 2023

Meanwhile, the unemployment rate rose slightly to 3.9%, aligning with the Fed’s projection for 2023 of 3.8%. 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.

Marketing 409

Marketing Construction Housing Market Government 409

Housing Wire

MAY 15, 2024

Although market asking rents have slowed and are even declining in some markets according to data like the Realtor.com March Rental Report, it takes some time for this to be reflected in overall shelter cost trends,” Realtor.com Chief Economist Danielle Hale, said in a statement. The shelter component of the CPI came in at 5.5%

Construction 456

Construction Investors Marketing Mortgage 456

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. At least not in the foreseeable future, unless another pandemic would create favorable conditions for the housing market.

Renovations 410

Renovations Realtors Construction Mortgage 410

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. At the end of 2023, they anticipated six rate cuts for the year.

Mortgage 458

Mortgage Retail Buyers Investors 458

Housing Wire

APRIL 24, 2023

In addition to the lower mortgage rate forecast issued after the March banking turmoil, Fannie Mae’s Economic and Strategic Research (ESR) Group has upgraded its existing home sales outlook for the remainder of the year. “The Total originations for 2023 are now expected to post $1.66 For 2024, Fannie Mae anticipates volumes of $2.02

Construction 384

Construction Inventory Lending Mortgage 384

Housing Wire

APRIL 5, 2024

Since August 2023, the unemployment rate has hovered between 3.7% As a result, mortgage rates are likely going to stay elevated for longer.” Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. The national unemployment rate changed little at 3.8%, down from 3.9%

Mortgage 356

Mortgage Transportation Construction Housing Market 356

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.

Mortgage 370

Mortgage Retail Loan Officers Construction 370

Housing Wire

MAY 7, 2024

It is shipped from the Boxabl manufacturing facility in Las Vegas and is “designed to unfold into a fully functional dwelling unit in just a few hours,” reducing construction costs and minimizing environmental impacts, according to a company news release.

Construction 450

Construction Tenants Design Finance 450

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Retail 421

Retail Mortgage Loan Officers Construction 421

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%

Mortgage 512

Mortgage Contracts Construction Inventory 512

Housing Wire

JANUARY 22, 2024

Seniors largely want to remain in their own homes as they get older, and that preference could be remaking the housing market in the city of Chicago, according to a new report. The two organizations produce the quarterly Reverse Mortgage Market Index (RMMI) report. Boomers own 35.6% of the national U.S.

Housing Market 419

Housing Market Marketing Construction Insurance 419

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. Register for the virtual event on Dec.

Housing Market 485

Housing Market Marketing Inventory Sellers 485

Housing Wire

SEPTEMBER 27, 2023

After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6

Housing Market 515

Housing Market Marketing Inventory Construction 515

Housing Wire

NOVEMBER 20, 2023

California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. FoA) months after it shut down its forward mortgage segment. billion in production volume in the first nine months of 2023, declining 27.9%

Retail 421

Retail Mortgage Lending Renovations 421

Housing Wire

JANUARY 5, 2024

The BLS jobs report data isn’t the best recession indicator, which we can all see since the recession of 2023 — forecast by so many — didn’t occur. Here are my three key points on the labor market recovery since I retired my COVID-19 recovery model on Dec. Does this mean the labor market is breaking? 9, 2020: 1.

Marketing 500

Marketing Transportation Construction Government 500

Housing Wire

MAY 30, 2023

The annual growth rate in March 2023 was up 0.7%. The modest increases in home prices we saw a month ago accelerated in March 2023,” Craig Lazzara, the managing director at S&P DJI, said in a statement. 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 410

Mortgage Inventory Construction New Listings 410

Housing Wire

JUNE 29, 2023

Mortgage rates little changed this week as investors assessed Federal Reserve Chairman Jerome Powell ’s latest comments on rate hikes. To sum it up: a very strong labor market remains the main driver behind the Fed’s rate setting decisions and more tightening is still to come. Other mortgage indexes also show rates slightly rising.

Mortgage 384

Mortgage Investors Construction Marketing 384

Housing Wire

JANUARY 5, 2024

economy in 2023, an average monthly gain of 225,000, according to the BLS. Even though the headline jobs numbers beat estimates, the internals of the jobs report show that the labor market is slowing down,” HousingWire Lead Analyst Logan Mohtashami said. “We Economists were expecting an addition of 170,000 jobs. That’s less than the 4.8

Transportation 441

Transportation Construction Government Investors 441

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times. Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like?

Business 410

Business Marketing Real Estate Legal 410

Housing Wire

FEBRUARY 12, 2024

Stratmor Group served as the adviser to AFR for the deal, which was announced in August 2023 and completed on Feb. 8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets.

Lending 430

Lending Renovations Construction Finance 430

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.

Retail 431

Retail Lending Renovations Construction 431

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. is too much for Americans.

Mortgage 421

Mortgage Government Marketing Insurance 421

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. The deal also expands Planet’s footprint in the Midwest, Northwest and West Coast markets. billion in mortgage loans from January to March, with $6.3 The lender originated $6.5

Retail 397

Retail Mortgage Lending Renovations 397

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Business 421

Business Mortgage Lending Insurance 421

Housing Wire

FEBRUARY 28, 2024

Ellington Financial , parent company of top 10 reverse mortgage lender Longbridge Financial , reported a lower economic return for the fourth quarter of 2023, which was partially driven by net losses from Longbridge “and other positions,” according to CEO Laurence Penn. per share — Ellington chief financial officer J.R.

Mortgage 421

Mortgage Investors Retail Business 421

Housing Wire

JANUARY 26, 2024

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. million and a 15.8%

Contracts 458

Contracts Housing Market Construction Inventory 458