Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. House of Representatives ‘ Financial Services Subcommittee on Housing and Insurance.

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Insurance Inventory Mortgage Lending 393

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

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Housing Market Marketing Insurance Mortgage 446

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

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Housing Market Mortgage Marketing Real Estate 399

Housing Wire

AUGUST 16, 2023

HousingWire recently spoke with Mike Darne, vice president of marketing at CreditXpert , about industry performance in the first half of 2023 and how lenders can work with borrowers to improve their credit. As reported in our most recent Mortgage Credit Potential Index (MCPI), YoY we are seeing a 27% drop in inquiries overall.

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Inventory Lending Mortgage Insurance 369

Housing Wire

JULY 30, 2023

Tracking housing inventory this summer is like watching a zombie slowly walking on the beach. Last week inventory growth dropped and new listing data declined again. Strong labor data pushed up mortgage rates and purchase applications fell week to week. Instead, new listings data had a small decline last week.

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Housing Market Marketing Inventory New Listings 370

Housing Wire

JUNE 23, 2023

High mortgage rates , economic uncertainty and low housing inventory did very little to help title premium volume during the first quarter of 2023. billion in title insurance premiums, down 43% year over year, according to the American Land Title Association ’s Market Share Analysis , released Thursday. in Q1 2023.

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Insurance Inventory Marketing Mortgage 370

Housing Wire

MAY 21, 2023

The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Purchase application data fell 4.8% million to 1.04

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Housing Market Marketing Inventory New Listings 497

Appraisal Buzz

MAY 10, 2024

compared with March 2023, according to CoreLogic’s home price index report. Even with the long-anticipated break in for-sale inventory, the surging cost of homeownership, further fueled by rising insurance and tax expenses, is holding potential home sales back, as is evident in the slow rise in sales compared with last year.

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Inventory Insurance Buyers Appraisal 195

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

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Marketing Mortgage Investors Sellers 426

Housing Wire

APRIL 28, 2023

Like its other Big Four counterparts , the first quarter of 2023 did not produce great financial results for Old Republic. “As For Old Republic , the softer market results in total revenue falling from $2.207 billion in Q1 2022 to $1.759 billion in Q1 2023. In addition, the firm’s net income fell to $199.8 million, compared to $306.3

Insurance 374

Insurance Real Estate Inventory Investors 374

Housing Wire

AUGUST 9, 2023

Despite a 18% annual decline in purchase title orders opened per day in Q2 2023, Fidelity National Financial executives believe housing demand remains strong. Fidelity did however note that on a sequential basis, purchase orders opened per day were up 12% compared to Q1 2023.

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Insurance Housing Market Inventory Real Estate 370

Housing Wire

MARCH 9, 2023

The rule allows mortgagees to increase the maximum term of an FHA-insured mortgage loan modification from 360 to 480 months following a default. The FHA also published Mortgagee Letter 2023-06 , which establishes the policies for FHA lenders. The rule is slated to go into effect on May 8.

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Insurance Mortgage Realtors Inventory 370

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. It added that data on homeowner tenure by generation is compiled by analysis of the U.S.

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Property Taxes Insurance Construction Inventory 462

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The problem is, a mortgage credit reject (MCR) is kind of like your scarlet letter, to be completely honest,” Gastelum said. The FHA/VA share in Q2 2023 stood at 22.9%

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Loan Officers Mortgage Finance Clients 395

Housing Wire

JULY 28, 2023

Despite recording stronger financial results during the second quarter of 2023 than the first, executives at both First American Financial and Old Republic did their fair share of bellyaching over current housing market conditions during their firms’ Q2 2023 earnings calls on Thursday. “We billion and $138.5 million in net income.

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Insurance Investors Development Housing Market 361

Housing Wire

DECEMBER 1, 2023

The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan. Now he is off the sideline because a 5% down payment is completely doable,” said Krichmar, a mortgage banker at Legend Lending Corporation.

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Finance Buyers Mortgage Inventory 451

Housing Wire

APRIL 12, 2024

While the slowdown has resulted in a return to pre-pandemic levels of market activity, real estate agents across the state believe that an issue far greater than 7% mortgage rates may cause the housing market to slow further. “We We have an insurance problem,” said Charlotte Johnson , a Keller Williams agent based in Mandeville.

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Insurance Housing Market Marketing Agents 427

Housing Wire

APRIL 17, 2023

In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. “It As of February 2023, Hartford County’s Altos Market Action Index reading was 62, compared to a national reading of 40.

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Housing Market Marketing Inventory Buyers 394

Housing Wire

SEPTEMBER 6, 2023

Despite the economic headwinds, the title industry remains strong, according to Fitch Ratings’ title industry September 2023 Peer Review. However, Fitch noted on Tuesday that premiums were down 37% year-over-year for the first half of 2023. Fitch said it expects margins to continue to improve through the end of the year.

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Inventory Marketing Mortgage Insurance 390

Housing Wire

MAY 24, 2023

The Federal Reserve ‘s monetary tightening policy and the recent banking crisis have the potential to change the mortgage-backed securities (MBS) market’s dynamics more than anything seen over the last two decades, according to secondary market experts. “A 30-year fixed rate mortgage is an unusual beast,” Boston said.

Marketing 381

Marketing Insurance Investors Mortgage 381

Housing Wire

AUGUST 10, 2023

The increasing share of owner-occupant buyers is also evidence that extremely tight housing inventory is prompting more retail buyers to take on the additional challenges that come with buying a distressed property at auction. of all available first-look properties in the second quarter of 2023.

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Renovations Buyers Development Insurance 370

Housing Wire

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. Such volatility has triggered turbulence in the mortgage market. The mortgage-backed securities (MBS) market went “no-bid” on Friday. Consequently, mortgage rates leapt like they hadn’t in decades.

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Mortgage Investors Clients Marketing 383

Housing Wire

JUNE 1, 2022

According to the Mortgage Bankers Association (MBA), total loan production expenses increased to an all-time high of $9,470 per loan in the fourth quarter of 2021. The ALTA Registry is a unique real estate utility created specifically for the mortgage industry and service providers.

Insurance 406

Insurance Real Estate Agents Technology 406

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

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Business Mortgage Loan Officers Inventory 427

Housing Wire

JUNE 4, 2023

Last week we saw a noticeable slowdown in housing inventory growth that I hope has more to do with a holiday week than a trend. Mortgage rates fell last week after the debt ceiling issues were resolved, but the damage from higher rates took its toll on purchase application data again.

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Inventory Housing Market Marketing New Listings 437

Housing Wire

APRIL 27, 2023

Executives at both Stewart Information Services and First American Financial bemoaned the challenging housing market environment as they discussed their respective firms’ first quarter 2023 earnings with investors Thursday morning. According to DeGiorgio, mortgage rates would have to drop well below 5.0% million compared to $219.5

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Housing Market Marketing Investors Development 389

Housing Wire

OCTOBER 5, 2023

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. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

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Housing Market Marketing Contracts Finance 417

Housing Wire

OCTOBER 16, 2023

In August, Zillow ‘s 2023 Consumer Housing Trends Report proclaimed that half of all homebuyers are purchasing their first home, the highest share that Zillow has ever recorded. Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving.

Agents 407

Agents Buyers Sellers Inventory 407

Housing Wire

SEPTEMBER 23, 2022

Stick around and see if mortgage rates climb into the 7% range. trillion in 2023 will look awfully rosy. Mortgage-backed securities are right about the worst place on the duration spectrum for this move. Mortgage-backed securities are right about the worst place on the duration spectrum for this move. .”

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Housing Market Marketing Mortgage Buyers 370

Housing Wire

JULY 12, 2023

Indexes that increased in June include shelter, motor vehicle insurance, apparel, recreation, and personal care. Peak rent inflation was between May 2022 and February 2023, but has declined in subsequent months and is expected to continue to do so. Low inflation means low mortgage rates.

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Insurance Construction Tools Realtors 355

Housing Wire

FEBRUARY 21, 2023

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. We’re just trying to move inventory quickly,” said Lee Kearney, a Tampa, Florida-based real estate investor who has an inventory of between 15 and 20 homes for sale at any given time. “If

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Housing Market Renovations Marketing Retail 383

Housing Wire

AUGUST 10, 2022

Despite recording yet another quarter with a net loss, Doma executives remain steadfastly committed to reaching profitability by the end of 2023. In the second quarter of 2022, even as mortgage rates reached some of their highest levels in over a decade, the firm saw a 16% uptick in purchase orders closed from the first quarter.

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Inventory Investors Technology Marketing 383

Housing Wire

NOVEMBER 15, 2023

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) managed another solid year of financial performance for the Mutual Mortgage Insurance (MMI) Fund, covering FHA’s Title II Single Family Mortgage Insurance programs. 30, a year-over-year drop of 0.6%

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Mortgage Insurance Business Inventory 416

Hank Miller Team

JULY 12, 2023

The first half of the Atlanta 2023 housing market shared many similarities with the first half of the 2022 real estate market. Owners Love Low Mortgages Pretty simple. During the pandemic, the government bought mortgage backed securities and artificially maintained those historically low interest rates. Why move now?

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Housing Market Marketing Buyers Sellers 40

Housing Wire

MAY 14, 2023

Yes, we found the seasonal bottom for housing inventory on April 14, but this year’s rise in active listings has been tepid at best. Mortgage rates fell last week as we started the week at 6.65% and got as low as 6.49% to end the week at 6.55%. This doesn’t appear to be the case for 2023.

Housing Market 461

Housing Market Marketing Inventory New Listings 461

Housing Wire

APRIL 22, 2024

Many of us are in sellers’ markets with very low inventory. Inventory is extremely low, and the competition is fierce. If you want to think outside the box, consider partnering with an ambitious insurance agent who offers both rent and homeowners insurance. What a great way to receive referrals for life!

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Real Estate Open Houses Brokerage Real Estate Agent 422

Housing Wire

JUNE 18, 2023

Mortgage rates were near 7% last week but purchase applications were still able to pull out an 8% week-to-week gain. Active housing inventory grew while new listing data fell. Mortgage rates hardly budged last week, even with the Federal Reserve ‘s announcement it was pausing rate hikes and CPI inflation reports.

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Housing Market Marketing Inventory New Listings 487