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How the housing market will evolve in 2023

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. economy has remained resilient, backed by a very strong labor market, sky-high job openings and low unemployment. The overall U.S.

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Senior-held home equity falls to $12.84 trillion in Q4 2023

Housing Wire

Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity from the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan.

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Here are the top 10 reverse mortgage securities issuers for 2023

Housing Wire

Despite looking a bit different at the end of 2023, there were a lot of similarities in the full-year Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) issuance tables when compared to recent years. Rank Company in 2023 Market share Company in 2022 Rank Change 1 FAR 36.9% market share, followed by the $1.39

Mortgage 458
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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Fitch Ratings expects a challenging 2023 — at least in the near term — while the industry right-sizes from the $4 trillion production volume that occurred during the pandemic boom years.

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Rocket preemptively raises 2023 conforming loan limits for brokers

Housing Wire

The wholesale arm of Rocket Mortgage on Tuesday raised anticipated agency conforming loan limits to $715,000, a sign that the nation’s largest mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 10% in 2023. 6, the lender said Tuesday. They’ll require a full appraisal.

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Black homeowners highest home-value appreciation over pandemic

Inman

Between February 2020 and January 2023, Black homeowners saw their homes' values increase by 42.5 home values overall. percent compared to 38.5 percent for U.S.

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US housing market posted record-setting value growth in 2023

Inman

Despite slowing sales, the value of the U.S. housing market experienced record-breaking growth in 2023, according to Redfin's latest housing report. The total value of 90 million U.S. homes rose from $45.1 trillion in December 2023 — a 5.3 trillion in December 2022 to $47.5 percent annual difference.