Housing Wire

MARCH 23, 2023

Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. An increase in MBA’s PAPI – indicative of declining borrower affordability conditions – means that the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates or a decrease in earnings.

Mortgage 357

Mortgage Loan Officers Inventory Buyers 357

Appraisal Buzz

MAY 10, 2024

“Home prices increased again this March beyond the typical seasonal uptick, despite mortgage rates reaching this year’s high and the affordability crunch continuing to keep many prospective buyers on the sidelines,” says Selma Hepp, chief economist for CoreLogic, in a statement. in March 2025. CoreLogic’s forecast shows annual U.S.

Inventory 195

Inventory Insurance Buyers Appraisal 195

Housing Wire

SEPTEMBER 22, 2023

Soaring mortgage rates and home prices are continuing to dampen affordability for homebuyers. Combined with elevated mortgage rates, monthly housing payments are at an all-time high. Meanwhile, available inventory continues to dwindle as many homeowners stay put to keep their relatively low mortgage rates.

New Listings 438

New Listings Inventory Buyers Mortgage 438

Housing Wire

NOVEMBER 10, 2023

Mortgage rates this week saw the biggest one-week decline in a year and potential homebuyers waiting for rates to drop responded, said Josh Mettle, division president and co-creator of NEO Home Loans. “I I think we were up right around 15% increase in the number of initial mortgage applications. What’s going on with mortgage rates?

Mortgage 421

Mortgage Inventory Marketing Retail 421

Housing Wire

DECEMBER 19, 2023

The group projects a return to growth in 2025. Since the beginning of November, mortgage applications have rebounded approximately 15%. However, the woes that hindered home sales in 2023, such as affordability challenges and the lack of resale inventory, will persist.

Inventory 403

Inventory Mortgage Housing Market Finance 403

Housing Wire

MARCH 5, 2024

by early 2025. Home prices further increased in late 2023 despite high mortgage rates , which surged to the highest level since the beginning of the millennium,” Selma Hepp, chief economist for CoreLogic, said in a statement. But the data provider forecasts yearly growth to begin slowing in the coming months and fall to 2.6%

Mortgage 426

Mortgage Marketing Inventory Housing Market 426

Housing Wire

DECEMBER 26, 2023

But in 2024, industry analysts believe mortgage rates will be the primary focus for many firms. “I I think the three most important factors driving sentiment and action next year are going to be supply, demand and mortgage rates.”

Brokerage 427

Brokerage Mortgage Agents Bracketing 427

Housing Wire

APRIL 6, 2023

Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks received a disappointing sales report card for 2022, which was led by a rapid rise in mortgage rates , low housing inventory and affordability challenges. Last year, average production volume was $2.6

Valuation 351

Valuation Mortgage Inventory Business 351

Housing Wire

JUNE 8, 2022

2012: What they said: Shadow inventory will cause prices to fall. The reality: Inventory broke down in 2012, and the monthly supply data got below 6.0 The “shadow inventory” was not an issue as it took years to get rid of the distressed supply from the housing bubble years.

Inventory 545

Inventory Housing Market Marketing Mortgage 545

Appraisal Buzz

APRIL 4, 2024

by February 2025. increase from January to February 2024, which is almost double the monthly increase recorded before the pandemic, spring home price gains are already off to a strong start despite continued mortgage rate volatility.” home prices increased 0.7% in February compared with January and were up 5.5%

Inventory 150

Inventory Buyers Appraisal Marketing 150

Housing Wire

FEBRUARY 9, 2022

That same group of individuals was also shocked to see that mortgage demand picked up very noticeably toward the end of the year in 2021; even I labeled the existing home sales market as outperforming due to mortgage demand, which makes the survey look incorrect. I knew the fall and winter fade of inventory was coming.

Inventory 370

Inventory Buyers Sellers Investors 370

Housing Wire

FEBRUARY 9, 2022

That same group of individuals was also shocked to see that mortgage demand picked up very noticeably toward the end of the year in 2021; even I labeled the existing home sales market as outperforming due to mortgage demand, which makes the survey look incorrect. I knew the fall and winter fade of inventory was coming.

Inventory 370

Inventory Buyers Sellers Investors 370

Housing Wire

NOVEMBER 1, 2023

Zillow’s financial results Despite a slower residential housing market environment caused by rising mortgage rates and low housing inventory, Zillow Group still managed to record an annual increase in revenue in the third quarter of 2023. It’s a year of execution as we prepare to scale in 2024 and 2025.

Real Estate 440

Real Estate Advertising Agents Realtors 440

Housing Wire

JUNE 2, 2023

Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. Meanwhile, 2025 and 2026 will be off the charts. And 2025 and 2026 will be off the charts. Is it the bottom?

Retail 362

Retail Inventory Mortgage Loan Officers 362

Housing Wire

DECEMBER 20, 2023

Last week’s DataDigest offered readers a host of housing forecasts from industry experts at banks, trade associations and more, the thrust of which was housing professionals should expect a modestly better year of sales thanks to retreating mortgage rates in the year to come. ” Wells Fargo predicted mortgage rates of 7.2-6.7%

Mortgage 412

Mortgage Realtors Real Estate Marketing 412

Housing Wire

MARCH 18, 2024

real estate market were for inventory growth, sales growth and home-price growth across the U.S. At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. If mortgage rates continue to rise to 7.5%

Inventory 408

Inventory New Listings Sellers Contracts 408

Housing Wire

SEPTEMBER 12, 2023

Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), finds herself both enthusiastic and cautious as she assesses the prospects of the mortgage market in the coming year. “But economists said mortgage rates should be in the 5s in the first or second quarter of 2024.”

Loan Officers 393

Loan Officers Investors Mortgage Clients 393

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand.

Mortgage 450

Mortgage Buyers Inventory Technology 450

Housing Wire

DECEMBER 3, 2020

The expected open unit increase was highlighted by several California-based Realtors, who all agreed that demand is higher than available inventory. “I For example, senior citizens don’t have to “succumb to a reverse mortgage” and can instead sell their home and retain equity, she said. The state’s going to make a lot of money.”.

Property Taxes 328

Property Taxes Realtors Law Inventory 328

Housing Wire

APRIL 11, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

Inventory 497

Inventory Housing Market Marketing Modernization 497

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgage 441

Mortgage Loan Officers Inventory Business 441

Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

Inventory 404

Inventory Housing Market Marketing Modernization 404

Housing Wire

NOVEMBER 21, 2023

Mortgage rates eclipsed 8% at one point, inventory hit all-time lows, and home prices continued to climb. will avoid a recession, mortgage rates will fall, incomes will continue to rise and an uptick in listings will spur more housing activity. Let’s not sugarcoat it: 2023 was a bad year for the housing market.

Inventory 454

Inventory Housing Market Mortgage Marketing 454

Housing Wire

DECEMBER 13, 2023

in 2025, indicating four more 25 bps cuts. What does this mean for mortgage rates? Mortgage rates should get better. ” Mortgage rates track the yield on 10-year U.S. When Treasury yields go down, so do mortgage rates. These cuts will allow mortgage rates to fall faster throughout 2024.

Inventory 457

Inventory Housing Market Mortgage Law 457

Housing Wire

MARCH 25, 2024

Specifically, when housing inventory is 25% greater than a year ago, the supply/demand balance is obviously very different than it has been. So while we can see currently the prices of home sales holding up, the signals for the end of 2024 and into 2025 seem to suggest we’re heading for flat home prices. Now it’s on the rise.

New Listings 490

New Listings Inventory Contracts Sellers 490

Housing Wire

SEPTEMBER 21, 2023

In an elevated rate environment, the lack of inventory continues to be the biggest challenge for many potential buyers, the Mortgage Bankers Association said. The MBA expects mortgage rates should begin to reflect that the Fed’s moves in 2024 will be cuts – not further increases. in 2024 and 5.1%

Real Estate 392

Real Estate Mortgage Buyers Inventory 392

Housing Wire

DECEMBER 19, 2023

The inventory picture There are now 539,000 single-family homes on the market unsold, which is up 3.2% Housing inventory climbed late in the year as mortgage rates rose. Rates are falling now and if that continues, buyers will jump and inventory will fall well into the first quarter of 2024. than last year at this time.

Sellers 440

Sellers Marketing Inventory Contracts 440

Housing Wire

APRIL 8, 2022

Home prices are skyrocketing, housing inventory is at all-time lows and homebuyers have to contend with multiple bids. One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy.

Housing Market 393

Housing Market Marketing Inventory Lending 393

Housing Wire

JUNE 8, 2023

trillion limit until January 2025 and cap government spending. It alleviated some pressure on mortgage rates, which declined over the past week. But uncertainties over the Federal Reserve ‘s (Fed) next steps are keeping mortgage rates high, with the 30-year fixed mortgage rate above 6.5% ”

Mortgage 387

Mortgage Investors Inventory Housing Market 387

Appraisal Today

SEPTEMBER 22, 2023

Mortgage interest rates ALWAYS go up and down. Appraising will be different in 2025. At the current mortgage rate, and with a 20% down payment, homes priced at $250,000 will have a typical monthly payment of around $1,358, before property taxes and home insurance costs. September 20, 2023) — Mortgage applications increased 5.4

Appraisal 87

Appraisal Training Inspection Real Estate 87

Appraisal Today

JUNE 10, 2022

The Inevitable Cyclicality of Mortgage Lending. NOTE: Please scroll down to read the other topics in this long blog post on declining mortgage loans, real estate market, unusual homes, mortgage origination stats, etc. ==. recession to begin in 2023, which gathered more votes than 2022 (30%), 2024 (8%) or 2025 and beyond (17%).

Appraisal 52

Appraisal Contracts Business Mortgage 52

Housing Wire

AUGUST 16, 2023

The biggest nonbank mortgage lenders in America saw improved performance in both origination and servicing segments in the second quarter, capitalizing on the continued mortgage pullback from banks. As we’ve reported, that trend looks sticky, which could help change the fortunes of top independent mortgage banks sooner than expected.

Retail 347

Retail Real Estate Agent Business Mortgage 347

Housing Wire

JULY 17, 2023

In the fall of 2022 after mortgage rates jumped to 7.5%, I thought maybe we’d missed the soft landing call. By October 2022, it looked like 2023 would have rising inventory and falling home prices. Inventory has fallen all year. The peak of inventory for 2023 so far was the week of the New Year — that is insane.

Real Estate 310

Real Estate Marketing Inventory Contracts 310

Housing Wire

AUGUST 3, 2023

In a recent earnings call, Sheryl Palmer, chairman and CEO of national homebuilder Taylor Morrison , said about two-thirds of homeowners now have mortgage interest rates below 4%. Fannie Mae ’s vice president of economic and strategic research, Hamilton Fout, said the gap between homeowners now holding historically low mortgage rates (i.e.,

Construction 369

Construction Development Finance Mortgage 369

Housing Wire

APRIL 29, 2024

Rising mortgage rates and a slower housing market than anticipated contributed to the weaker financial performance of the title segments of some of the nation’s largest title firms during the first quarter of 2024. Market conditions in the real estate and mortgage industries continued to be a challenge in the seasonally weak first quarter.

Insurance 370

Insurance Investors Housing Market Government 370

Will Springer Realtor

APRIL 9, 2024

For housing and mortgage professionals, however, these apparent highlights are persistent nuisances. months (20 days) of available inventory. North King County, including Shoreline and Lake Forest Park, had the smallest inventory as of April 1 – 0.5 months of inventory on the Eastside and 1.0 Inventory stood at 1.3

Marketing 60

Marketing Inventory Buyers Sellers 60

Will Springer Realtor

FEBRUARY 13, 2024

Total inventory remains low, however, keeping prices higher on an annual basis. Active listings typically fall when mortgage interest rates fall and rise when interest rates rise. months’ inventory, up from 1.4 months’ inventory (2.0 Single-family inventory rose to 1.6 1; that’s 2.8% King had 1.8 Seattle enjoyed 2.5

New Listings 54

New Listings Buyers Inventory Lending 54