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Fewer people are submitting mortgage applications

Housing Wire

Tight housing inventory, obstacles to a faster rate of new construction, and rapidly rising home prices continue to hold back purchase activity,” Kan said. “The government purchase index declined to its lowest level in over a year and has now decreased year over year for five straight weeks.

Mortgage 542
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Mortgage applications rise again, despite rates jump

Housing Wire

“Despite the jump in rates, refinances also increased for the second consecutive week, pushed higher by a 4% bump in conventional refinance applications,” Kan said, “Government purchase applications drove most of last week’s increase, which also contributed to a slightly lower overall average purchase loan size.”.

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Mortgage apps decline as rates hit the 7% mark

Housing Wire

The housing market received positive data on new residential construction – which is seen as a key solution to the lack of housing inventory,” Kan added. “Since rates have been so volatile and for-sale inventory still scarce, we have yet to see sustained growth in purchase applications,” Kan said.

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Pending home sales reach highest May mark in 16 years

Housing Wire

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. ” Contract signings on new homes increased 13.1% ” Contract signings on new homes increased 13.1% year over year. .

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Housing construction looks positive despite recession projections

Housing Wire

Existing home sales have been largely in line with the ESR Group’s recent forecast of further gradual declines throughout the year, which were expected due to affordability constraints and tight existing home sales inventory of existing homes for sale. government on its debt obligations.

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Why Appraisal Workfiles Are Important

Appraisal Today

This is one of the appraisal discrimination cases that has received significant attention – among appraisers, the media and government agencies. With shifts in existing and pending home sales, new home sales, construction activity, and economic indicators such as inflation and mortgage rates, appraisers are navigating a complex landscape.

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How to grow housing supply in 2021

Housing Wire

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. For now, though, the low inventory means housing starts have legs to move higher. months, the builders are ok with construction as long as new home sales grow. If supply goes over 6.5 Hard pass.

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