Housing Wire

DECEMBER 27, 2023

Guild Mortgage has an ambitious plan under the leadership of its new CEO, Terry Schmidt. United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023. nationally, per Inside Mortgage Finance (IMF) estimates. It won’t be easy. exits and 3.2%

Mortgage 403

Mortgage Retail Lending Sellers 403

Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. Zillow posits that this shift is driven by higher mortgage rates in the post-pandemic era.

Sellers 407

Sellers Buyers Real Estate Inventory 407

Housing Wire

JANUARY 4, 2024

In the first week of 2024, mortgage rates continued to stick around the mid 6% mark. The 30-year fixed-rate mortgage averaged 6.62% as of Jan. 28 , according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday. The 15-year fixed-rate mortgage averaged 5.89% this week, down from 5.93% the prior week.

Mortgage 426

Mortgage Inventory Sellers Marketing 426

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire.

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Inventory Construction Mortgage Buyers 457

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

Mortgage 421

Mortgage Sellers New Listings Buyers 421

Inman

DECEMBER 5, 2023

Falling home prices and mortgage rates are on tap for buyers and sellers — not to mention a presidential election that could hinge on housing issues, according to Redfin's outlook for 2024.

Buyers 184

Buyers Sellers Marketing Mortgage 184

Housing Wire

MAY 14, 2024

The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025. “We We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. More than 80% of recent buyers asked for at least one seller concession.

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Real Estate Agent Agents Real Estate Buyers 441

Housing Wire

JANUARY 29, 2024

When it comes to home staging, there are two homeowner camps: those who think it’s a waste of money and don’t want to pay more to make their home more attractive to buyers and those who realize the worth and are willing to make the investment needed. Simply put, cutting corners on staging is a risky move that risks prolonged market presence.

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Realtors Buyers Agents Decorating 424

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.

Finance 427

Finance Buyers Mortgage Inventory 427

Sacramento Appraisal Blog

FEBRUARY 14, 2024

Pulling comps in 2024 is tough. I also have some market recap visuals to unpack what’s been happening in 2024 so far. UPCOMING SPEAKING GIGS: 2/19/24 Matt the Mortgage Guy YouTube […] The post The challenge of pulling comps in 2024 first appeared on Sacramento Appraisal Blog. Think about it this way.

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Appraisal Marketing Mortgage New Listings 309

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 435

Real Estate Agent Real Estate Buyers Agents 435

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgage 477

Mortgage New Listings Loan Officers Inventory 477

Housing Wire

MARCH 2, 2024

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. The idea is that nobody will trade their low mortgage rates to buy another home — even though this happened every week last year. With mortgage rates higher, will this stop inventory from growing year over year?

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Inventory Mortgage New Listings Housing Market 532

Housing Wire

JANUARY 11, 2024

Mortgage rates ticked up this week as the 10-year Treasury yield made its way back above 4%. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, a slight increase from last week’s 6.62%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Mortgage 411

Mortgage Sellers Inventory Buyers 411

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. While circumstances for buyers remain tight, home sellers have done well as prices continue to rise year-over-year, including a new all-time high for the month of October,” Yun said. “In

Inventory 401

Inventory Realtors New Listings Contracts 401

Housing Wire

JANUARY 2, 2024

Whitney referred to this trend as a “python” that could begin coming to fruition in the latter half of 2024, which could then persist “for the next several years,” she explained. “[T]hat, Last October, FHA introduced a proposed seller credit for the H4P program.

Housing Market 510

Housing Market Marketing Real Estate Agent Real Estate 510

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. They crested near 7.6%

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Marketing Mortgage Investors Sellers 405

Housing Wire

MAY 14, 2024

Despite persistently high interest rates , big four title firm Fidelity National Financial recorded a much stronger start to 2024 than it did a year ago. In first-quarter 2024 , Fidelity reported total revenue of $3.299 billion, up from $2.474 billion a year ago. The firm’s title segment reported $1.7

Insurance 427

Insurance Real Estate Sellers Housing Market 427

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. I will watch for rising mortgage rates to see if they change the weekly data. I will watch for rising mortgage rates to see if they change the weekly data. So far, so good in 2024.

Inventory 540

Inventory Mortgage New Listings Sellers 540

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023.

Mortgage 530

Mortgage Inventory New Listings Sellers 530

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. Where are mortgage rates headed? in second-quarter 2024.

Mortgage 447

Mortgage Retail Buyers Investors 447

Housing Wire

DECEMBER 15, 2023

After two straight years of double-digit declines, home sales will pick up in 2024 thanks to lower mortgage rates. This is according to NAR Chief Economist Lawrence Yun, who shared a presentation of his 2024 forecast on Tuesday. Yun expects the first rate cut to come in the late spring of 2024.

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Sellers Buyers Mortgage Investing 464

Housing Wire

MARCH 4, 2024

At HousingWire , we have a debate about whether home sellers will freeze up again this year as mortgage rates stay stubbornly high. We’ve had seller growth for 18 weeks in a row. More sellers means more sales. Will sellers retreat entirely, like they did last year? But will rates deter sellers also?

Inventory 477

Inventory Sellers Buyers Real Estate 477

Housing Wire

APRIL 23, 2024

loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” That’s kind of evaporated,” Martell said on Tuesday morning in a session during The Gathering , HousingWire’s real estate and mortgage conference held in Scottsdale, Arizona.

Mortgage 309

Mortgage Real Estate Agent Real Estate Renovations 309

Housing Wire

MAY 8, 2024

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

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Inventory Law New Listings Sellers 461

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

Buyers 391

Buyers Agents Loan Officers Real Estate 391

Housing Wire

APRIL 19, 2024

year over year in the first quarter of 2024, with the median price hitting a record $1.225 million, according to data from Redfin. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market. In the first quarter of 2024, sales of luxury homes rose 2.1% surged by 8.7%

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Luxury Properties New Listings Buyers Housing Market 445

Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. Serious buyers showed discernment as they know inventory is growing. Serious buyers showed discernment as they know inventory is growing. With only 1.3

Inventory 354

Inventory Lending Real Estate Housing Market 354

Housing Wire

APRIL 27, 2024

I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. Weekly housing inventory data We’ve now had back-to-back weeks of healthy housing inventory growth and spring 2024 is much healthier than spring 2023. The mortgage spread data got worse last week.

Inventory 498

Inventory Housing Market Marketing New Listings 498

Housing Wire

MAY 7, 2024

Redfin showcased pockets of growth in the first quarter of 2024 despite challenging housing market conditions. Its mortgage revenue was $34 million, down 7% from a year ago. Market conditions recently got worse, but Redfin got better in the first quarter of 2024,” Glenn Kelman, CEO of Redfin, said in a statement.

Marketing 369

Marketing Brokerage Advertising Agents 369

Housing Wire

NOVEMBER 25, 2023

Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. The question now is what will inventory look like in the spring if mortgage rates keep falling?

Inventory 534

Inventory Mortgage New Listings Buyers 534

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 433

Mortgage Loan Officers Finance Buyers 433

Inman

SEPTEMBER 12, 2023

Goldman Sachs economist Michael Murdoch criticized the Federal Reserve's rate strategy at Ben Kinney Companies' BuiltHOW conference on Tuesday and shared how upcoming policies could impact the 2024 housing market.

Sellers 187

Sellers Buyers Housing Market Marketing 187

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. However, this data line accelerates when mortgage rates rise and demand gets hit harder. This is the price-cut percentage for the same week over the last few years: 2024 32.2% This 10-year yield range means mortgage rates between 5.75%-7.25%. 2022 21.7%

Inventory 530

Inventory New Listings Retail Mortgage 530

Housing Wire

JANUARY 17, 2024

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. They own the home with their name on the title, as with any mortgage, traditional or reverse.

Finance 445

Finance Real Estate Agent Real Estate Insurance 445

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

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Housing Market Mortgage Marketing Inventory 544

Lamacchia Realty

FEBRUARY 14, 2024

ARE YOU A "WANT-TO-BE" SELLER IN 2024? From low inventory levels to increasing mortgage rates , the real estate landscape has experienced a multitude of changes and challenges over the last several years, leaving many sellers wondering when the “right” time to list would be given current market conditions.

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Sellers Realtors Buyers Inventory 64