Housing Wire

DECEMBER 13, 2023

The housing market cheered as the Federal Reserve signaled interest rate cuts next year after making a series of rapid rate hikes starting in 2022. While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. What does this mean for mortgage rates?

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Inventory Housing Market Mortgage Law 457

Housing Wire

FEBRUARY 5, 2024

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. When the economy and job growth are stronger than expected, the bond market assumes that fewer rate cuts are coming. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. There are 8.8%

Mortgage 404

Mortgage Inventory Sellers New Listings 404

Housing Wire

NOVEMBER 22, 2023

It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. million sales of existing homes nationally and home prices rise by about 4%. We are in a new era for mortgage rates where prospective homebuyers should expect rates to settle between 6% and 6.5%

Housing Market 477

Housing Market Marketing Inventory Sellers 477

Housing Wire

APRIL 22, 2024

After a couple weeks of big jumps for mortgage rates , we’re still seeing relatively surprising strength in the housing market. We’re watching a few key factors to see if homebuyers are backing off in the face of increased mortgage rates. And we’d expect that to slow home sales further.

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Inventory New Listings Sellers Contracts 475

Housing Wire

JANUARY 11, 2024

Inflation is one of the key economic metrics that the Federal Reserve is monitoring as it plans for interest rate cuts later this year. annually, after rising 4% over the 12 months ending November. When will the Fed start cutting rates? Forecasters expected the Federal Reserve to begin cutting rates in March.

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Sellers Housing Market Marketing Mortgage 329

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? Because of that, we should all expect declines of 35%-45% year over year during this period. The bleeding has stopped.

Housing Market 540

Housing Market Mortgage Marketing Inventory 540

Housing Wire

MARCH 25, 2024

What does this means for home prices this spring? Mortgage rates seem to have finally settled down. I was worried that we might come out of that meeting with a spike in mortgage rates but that didn’t materialize so we got lucky. Now it’s on the rise. Growing inventory this year means more sales can happen.

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New Listings Inventory Contracts Sellers 480

Housing Wire

APRIL 12, 2024

After heating up like the rest of the country, the Louisiana housing market has continued to cool since interest rates began to rise in the second half of 2022. Between 2018 and 2023, homeowners insurance rates in Louisiana jumped 24.9%, according to an analysis by S&P Global. From 2022 to 2023 alone, rates jumped 21.2%.

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Insurance Housing Market Marketing Agents 382

Housing Wire

MARCH 5, 2024

Housing affordability is at its lowest level in more than a decade, according to the National Association of Home Builders (NAHB), and there are few ways to circumvent the rising costs of housing. Mortgage assumption is a niche option that gained momentum in 2023. Importantly, the mortgage assumption process is riddled with hurdles.

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Mortgage Buyers Agents Real Estate Agent 391

Housing Wire

APRIL 8, 2024

Mortgage rates haven’t fallen — if anything, mortgage rates are higher than they were a year ago. As sellers gently re-enter the market, more home sales can happen and are happening. This flat demand with more supply means that there are less upward pressures on home-price appreciation this year than a year ago.

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Inventory Contracts New Listings Sellers 442

Housing Wire

JANUARY 13, 2024

Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. 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 not what we’re seeing now. 2022 21.7%

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Inventory New Listings Retail Mortgage 520

Housing Wire

JANUARY 9, 2023

Does that mean we are heading back to all-time lows in inventory again for 2023? Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer. That’s a big one-week change.

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Inventory Housing Market Marketing New Listings 520

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 363

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. That represents an aggregate gain of $1.1

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Lending Inventory Mortgage Finance 419

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. in October from the prior month , reaching a seasonally adjusted annual rate of 3.79 lower than October 2022 when inventory was at 1.22 Existing-home sales dropped 4.1%

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Inventory Realtors New Listings Contracts 379

Housing Wire

JANUARY 16, 2023

Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. With mortgage rates also falling, I am hopeful that more people will list their homes and buy another, so we can get back to a more functional housing market. Housing inventory increased by 1,339 homes nationwide.

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Inventory Housing Market Marketing Mortgage 531

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Interest rates can move higher as the economy stays firm, Logan Mohtashami, Lead Analyst at HousingWire said. .”

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Mortgage Loan Officers Buyers Inventory 401

Housing Wire

SEPTEMBER 7, 2023

Mortgage rates peaked at 7.5% Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Last year at this time, mortgage rates began to spike dramatically from under 6% to 7.5% This caused inventory to rise dramatically late into October. in a few weeks.

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Contracts Inventory Buyers New Listings 404

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. Fitch Ratings expects a challenging 2023 — at least in the near term — while the industry right-sizes from the $4 trillion production volume that occurred during the pandemic boom years.

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Housing Market Marketing Insurance Mortgage 411

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. According to Black Knight data, 40% of all U.S.

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Business Mortgage Loan Officers Inventory 403

Housing Wire

AUGUST 21, 2023

Mortgage rates only kept climbing in the last week. Mortgage rates are at their highest level in 20 years because the economy just keeps reporting strong data. And every uptick in mortgage rates leads to a downtick in the number of home buyers in the market. Rising rates make more inventory.

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Inventory Contracts Buyers Sellers 369

Housing Wire

APRIL 16, 2023

Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number. Mortgage rates didn’t move too much last week but ended the week on a higher note at 6.50%.

Inventory 521

Inventory Housing Market Marketing New Listings 521

Housing Wire

DECEMBER 1, 2023

Now he is off the sideline because a 5% down payment is completely doable,” said Krichmar, a mortgage banker at Legend Lending Corporation. Based on annual changes to an index of national home prices, conforming loan limits for mortgages backed by Fannie Mae and Freddie Mac on one-unit properties will be $766,550 in 2024.

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Finance Buyers Mortgage Inventory 382

Housing Wire

DECEMBER 26, 2022

The housing market is one sector that can turn positive or negative very quickly depending on mortgage rates or one-time shocks like we saw with COVID-19. The three categories I’ll cover will be the weekly purchase application data, the Altos Research weekly inventory data , and what the bond market/ mortgage rates did recently.

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Housing Market Marketing Inventory Mortgage 471

Housing Wire

MARCH 2, 2023

Temperatures are rising, the sun is setting later, and the daffodils are starting to peek their green leaves out of the earth — spring is coming. And just like the bears who are starting to wake up from their long winter naps, homebuyers and sellers are coming out of hibernation… or at least they normally do. What happened to ‘normal’?

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Real Estate Agent Inventory Real Estate Agents 366

Housing Wire

SEPTEMBER 26, 2023

Available inventory of homes for sale is on the rise in late September, which is very unusual for this time of year. We’re seeing fewer new sellers each week, but inventory is building as homebuyers wait to see if mortgage rates will come down to make purchases more affordable. What’s happening with inventory?

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Inventory Contracts New Listings Mortgage 482

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 Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It There’s still going to be a lag.

Mortgage 439

Mortgage Loan Officers Inventory Business 439

Housing Wire

DECEMBER 2, 2020

But if a vaccine is rolled out quickly, it could lead to “better than expected sales” and an increase in home prices and inventory. Buyers may finally have a better selection of homes to choose from later in the year, but will face a renewed challenge of affordability as prices stay high and mortgage rates rise.”.

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Housing Market Marketing Inventory Buyers 506

Housing Wire

DECEMBER 20, 2023

However, this time around, the Federal Reserve rate hike cycle is over, and we don’t need to worry about Fed presidents going on CNBC in 2024 crying about 6% mortgage rates making their lives difficult. from October to a seasonally adjusted annual rate of 3.82 So let’s take a look at the playbook.

Housing Market 430

Housing Market Marketing Inventory Realtors 430

Housing Wire

SEPTEMBER 22, 2022

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . million in August.”

Inventory 438

Inventory Housing Market New Listings Mortgage 438

Housing Wire

JANUARY 29, 2021

Last year, buyer demand increased due to record low mortgage rates. That said, because of those low mortgage rates, and fewer houses on the market, home prices went up. To put it simply, the last half of 2020 was a seller’s market. Low-interest rates are great for potential buyers. But will 2021 be the same?

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Property Taxes Sellers Buyers Mortgage 450

Housing Wire

MARCH 6, 2023

There were leads, referrals and action in January, after people returned from holiday vacations and rates declined, said Don Monson, branch manager at Sente Mortgage. Rising rates will likely scare buyers away from the market, as it makes monthly mortgage payments less affordable, loan officers interviewed by HousingWire said.

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Loan Officers Inventory Real Estate Agent Buyers 365

Housing Wire

JULY 13, 2022

When I talked about needing higher rates in February of 2021, it was based on the fact that we didn’t have a credit bubble, so the demand is legit. However, this also means that demand has limits. Mortgage rates of 4%-5% weren’t doing the amount of demand destruction I thought they would.

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Inventory Housing Market Mortgage Construction 539

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders.

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Buyers Mortgage Loan Officers Retail 449

Housing Wire

DECEMBER 29, 2022

There are similarities and significant differences between the housing recession we’ve seen this year versus 2008, and looking at specific factors in both timeframes gives us an idea of what to expect in 2023. First, we must define what we mean by recession. First, we must define what we mean by recession. Sales fall.

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Housing Market Marketing Inventory Sellers 545

Housing Wire

DECEMBER 20, 2022

It is of little surprise to housing market prognosticators and participants alike that the biggest housing trend in 2022 was the market’s response to the record-breaking increase in mortgage rates, as the Federal Reserve tightened monetary policy to tame inflation. Headline Inflation is Over-Served. Core services, excluding shelter.

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Housing Market Mortgage Sellers Buyers 346

Housing Wire

NOVEMBER 23, 2022

Recent declines in mortgage rates, which are due to a slowdown in inflation growth, have been enough to convince some borrowers to apply for new home loans, according to recent data on mortgage applications. . Rates averaged 3.10% at this time one year ago. ” Other indexes show rates are slowly declining as well.

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Mortgage Buyers Sellers Marketing 451