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 443

Mortgage Housing Market Construction Inventory 443

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier. The Fed next meets on Jan.

Mortgage 530

Mortgage Inventory Retail Construction 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 458

Mortgage Retail Buyers Investors 458

Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Also recognized by the PROGRESS in Lending Association was Mortgage Cadence , which was lauded for its technology innovation.

Lending 419

Lending Mortgage Technology Construction 419

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% million units.

Contracts 458

Contracts Housing Market Construction Inventory 458

Housing Wire

APRIL 5, 2024

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. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

Mortgage 352

Mortgage Transportation Construction Housing Market 352

Housing Wire

JANUARY 11, 2024

Although what lies ahead in the world of real estate and mortgage services in 2024 remains a bit uncertain, it’s now crystal clear that, beyond the already-tired suggestion that we “survive until ’25,” quite a few businesses will be seeking to find additional sources of revenue. Here’s why.

Brokerage 441

Brokerage Real Estate Business Construction 441

Appraisal Buzz

MARCH 26, 2024

The median sales price of new home sold in February 2024 was $400,500. As interest rates subside over the course of 2024, additional home buyers will be priced into the market and new construction will be needed to meet this demand.” “A New home sales were at a seasonally adjusted annual rate of 662,000 in February, down 0.3%

Mortgage 195

Mortgage Construction Inventory Buyers 195

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. I look forward to driving APM forward in the new year and turning the challenges into opportunities in 2024 and beyond,” Lowman said. The California lender originated $7.62

Retail 420

Retail Mortgage Lending Renovations 420

Housing Wire

JANUARY 9, 2024

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Heading into 2024, there are continuing and emerging financing options, grant programs and legislation all designed to help homeowners and builders create much-needed infill housing.

Finance 485

Finance Construction Tenants Renovations 485

Housing Wire

JUNE 7, 2023

The Mortgage Bankers Association (MBA) announced on Wednesday that Christine Chandler, the executive vice president, chief credit officer, and chief operating officer of M&T Realty Capital Corporation (RCC), has been nominated to serve as MBA’s vice chair for the 2024 membership year.

Real Estate 369

Real Estate Finance Realty Construction 369

Housing Wire

NOVEMBER 30, 2023

As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. Pending home sales in October fell to their lowest level since 2001. down from 72.6 in September. New home sales fell 5.6%

Housing Market 479

Housing Market Inventory Realtors Construction 479

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

FEBRUARY 12, 2024

Meanwhile, more apartments are under construction. Redfin chief economist Daryl Fairweather expects apartment completions to peak in 2024. Asking rents are stable, and while mortgage rates have dipped in recent months, they haven’t fallen enough to make the financial equation of homebuying feasible for many people.

Landlords 430

Landlords Construction Mortgage Marketing 430

Housing Wire

APRIL 3, 2024

the parent company of top five reverse mortgage lender Liberty Reverse Mortgage and PHH Mortgage Corp. The only entity to be immediately impacted in the initial rebranding stage is Ocwen itself, but a version of the new name is expected to roll out to both Liberty and PHH at some point in 2024. Ocwen Financial Corp.,

Mortgage 410

Mortgage Business Design Construction 410

Appraisal Buzz

APRIL 25, 2024

Meaningful gains will only occur with declining mortgage rates and rising inventory,” Yun says. NAR forecasts that existing-home sales will rise by 9% in 2024 to 4.46 in 2024 to 1.43 in 2024 to a record of $396,800 (from $389,800 in 2023) and another 1.8% million (from 4.09 million 2023) and another 13.2% million in 2025.

Inventory 195

Inventory Construction Realtors Appraisal 195

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. in 2024, hitting 800,000 new homes. For those new construction units, the national median new home price is projected to drop by 5.9%

Inventory 410

Inventory Contracts Housing Market Realtors 410

Housing Wire

JULY 27, 2023

The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% in 2024, according to NAR’s forecast. With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. million in 2024. in 2024, to 820,000.

Construction 370

Construction Inventory Realtors Housing Market 370

Housing Wire

FEBRUARY 27, 2023

“Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. NAR expects the economy to continue adding jobs throughout 2023 and 2024, and the 30-year fixed rate mortgage to steadily drop to an average of 6.1% annual jump in 2024.

Housing Market 432

Housing Market Realtors Contracts Buyers 432

Housing Wire

JANUARY 19, 2024

Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November. But we can’t blame high mortgage rates for the deficit in transactions last year. In 2023, 4.09 million existing homes were sold, the fewest since 1995.

Inventory 441

Inventory Realtors Housing Market Construction 441

Housing Wire

APRIL 27, 2023

In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 Sales in the second half of the year should be notably better than the first half as job gains continue and more favorable mortgage rates are expected,” Yun said. to $390,000 in 2024.

Inventory 432

Inventory Realtors Contracts Construction 432

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 For 2024, Fannie Mae anticipates volumes of $2.02 For 2024, Fannie Mae anticipates volumes of $2.02

Construction 384

Construction Inventory Lending Mortgage 384

Housing Wire

FEBRUARY 4, 2024

” In December, the Fed talked about three rate cuts in 2024 but some people made a case for four, five or even six rate cuts given a Fed pivot. The Fed believed that policy was too restrictive when the 10-year was near 5% and we had 8% mortgage rates , but they seem fine with mortgage rates between 6%-7.25% right now.

Housing Market 504

Housing Market Marketing Mortgage Construction 504

Housing Wire

JULY 7, 2023

“The incoming economic data has been filled with conflicting signals,” said Mortgage Bankers Association SVP and Chief Economist Mike Fratantoni in a statement. Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up.

Construction 370

Construction Renovations Government Inventory 370

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% It’s savage man, truly savage with the mortgage rate rise.

Mortgage 504

Mortgage Inventory Sellers Housing Market 504

Housing Wire

APRIL 1, 2024

In October 2023, the firm — which is known for its “buy before you sell” product that enables a mortgage lender to treat the client’s current home as sold while giving them the ability to sell their home on the open market for up to 90 days after buying their new property — launched a partner channel.

Loan Officers 421

Loan Officers Clients Mortgage Construction 421

Housing Wire

OCTOBER 4, 2023

Fannie Mae on Wednesday released its October 2023 update to its Selling Guide, aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy positions. This update does not apply, however, to newly constructed manufactured homes , since these documents are required on all newer units.

Government 450

Government Insurance Construction Business 450

Housing Wire

JUNE 7, 2021

million until 2020-2024. Even in the years 2020 to 2024, however, which are very favorable for housing, I don’t see a credit sales boom or construction boom brewing in the current data — nor do I expect to see either of these shortly. We still have not seen housing starts begin the year at the level.

Housing Market 545

Housing Market Marketing Inventory Construction 545

Housing Wire

JUNE 8, 2023

Register Sarah Gonzalez is the president and chief operating officer of Panorama Mortgage Group. Her biggest piece of advice for mortgage leaders in this market? “Be These mortgage leaders’ experience spans from retail to affordable housing to new construction. Be decisive and move quickly.”

Retail 383

Retail Business Construction Tools 383

Housing Wire

JULY 20, 2023

Lenders point to cost-cutting as their top business priority amid the mortgage industry facing a number of challenges – including high home prices , tight inventory of homes available for sale and interest rate hikes. Surveyed lending executives had a pessimistic outlook toward the economy. About 73% of the respondents believe the U.S.

Lending 370

Lending Technology Business Construction 370

DW Slater Company

DECEMBER 22, 2023

As we’re getting ready to say goodbye to 2023 and welcome 2024, we wanted to wish each of you a very Merry Christmas and a Happy New Year! The rising mortgage rates slowed down the real estate market considerably. The 30-year mortgage rate peaked the week of October 26th at 7.79% for the average. Denton County 14,271 | -3.6%

Construction 107

Construction Real Estate Inventory Clients 107

Appraisal Today

NOVEMBER 3, 2023

Advisory Opinions For 2024, the ASB has retired Advisory Opinion 16 (AO-16) and replaced it with two new Advisory Opinions, AO-39 and AO-40. These requirements are carried forward in the 2024 edition of USPAP. USPAP 2024 is effective January 1, 2024. To read more, click here My comments: Be sure to read this blog post.

Appraisal 75

Appraisal Contracts Architecture Mortgage 75

Housing Wire

SEPTEMBER 13, 2023

Additionally, apartment construction is strong , which puts an additional pressure on landlords to avoid vacancy. “The recent rent and house price declines are only just starting to show up in the CPI and will likely drag down headline CPI through 2024,” added Potapov. The rent index was up 7.2% a year earlier.

Landlords 397

Landlords Insurance Construction Realtors 397

Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. HW: How has mortgage finance changed in the last few years?

Lending 408

Lending Finance Clients Client Relationships 408

Housing Wire

DECEMBER 29, 2021

The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. I’ve been writing for many years that years 2020-2024 would have the best housing demographics ever recorded in history. mortgage rates, so on the mortgage rate side of the equation, it’s never been better.

Housing Market 533

Housing Market Marketing Construction Mortgage 533

Housing Wire

JANUARY 23, 2024

home sales in nearly 30 years as high mortgage rates frustrate buyers, the market is reshaping real estate once again, placing buyers on the back foot and swinging the pendulum back to favoring sellers. As we get into 2024, if interest rates touch the 5% mark, we can assume a market that heavily favors sellers.

Real Estate Agent 450

Real Estate Agent Real Estate Buyers Agents 450

Housing Wire

MAY 10, 2023

Rent growth will decrease because apartment construction – entry units coming on the market – is already in the pipeline. Yun also noted that he is forecasting mortgage rates to fall closer to 6.0% He also anticipates new and existing home sales to bottom out in 2023 before rising again in 2024.

Housing Market 384

Housing Market Insurance Realtors Buyers 384