Housing Wire
MARCH 5, 2024
“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. What I tell all loan officers, no matter who I talk to, is that there’s no foreclosure crisis coming on the horizon,” Saghafi said.
Housing Wire
DECEMBER 14, 2023
Powell on Wednesday announced that the Fed anticipates making three 25 basis point rate cuts in 2024 and four in 2025, which should help bring mortgage rates further down in 2024. Several loan officers on Thursday told HousingWire they were quoting borrowers in the mid-6% range on standard 30-year-fixed loans.
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Housing Wire
MARCH 23, 2023
While high interest rates and home prices drove up mortgage payments and application payments, loan officers are seeing bidding wars due to a lack of inventory issues. in 2025. The MBA projects the 30-year fixed rate mortgage to drop to an average of 5.3% this year from 6.6% In 2024, rates are expected to drop to 4.6%
Housing Wire
SEPTEMBER 12, 2023
“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. . When will the market turn?
Housing Wire
JUNE 2, 2023
Meanwhile, 2025 and 2026 will be off the charts. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? And 2024, 2025 and 2026, they’ll be the three best mortgage years in history because everybody that’s doing 6.5% Rates lowering frees up inventory.
Housing Wire
NOVEMBER 10, 2023
Many homebuyers are aware of the lack of inventory of existing homes for sale, he explained. Loan originators emphasized any decline in rates improves affordability while the lack of housing inventory and higher home prices will continue to be a challenge. at the end of 2024 and drop to 5.5% in 2023 and move up to 6.9%
Housing Wire
DECEMBER 29, 2023
“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. But a combination of factors – high home prices , lack of inventory , elevated rates — temper expectations for even a moderately strong year.
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