Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgage 463

Mortgage Real Estate Agent Renovations Finance 463

Housing Wire

JANUARY 26, 2024

month over month in December, according to the newest data from the National Association of Realtors (NAR). 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. Pending home sales rose 8.3% in November.

Contracts 446

Contracts Housing Market Construction Inventory 446

Housing Wire

SEPTEMBER 23, 2021

The average 30-year-fixed mortgage rose, ever so slightly, to 2.88% for the week ending Sept. Mortgage rates have been roughly flat for months now. Treasuries, causing mortgage rates to remain in place, despite the increasing dispersion of inflation across different consumer goods and services.”. for the past two weeks.

Mortgage 441

Mortgage Inventory Construction Technology 441

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% We do not see new construction returning in a meaningful way any time soon. “The Will Savage, an LO at PMC Mortgage.

Mortgage 401

Mortgage Loan Officers Buyers Inventory 401

Housing Wire

NOVEMBER 30, 2023

As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% in October on a month-over-month basis, according to data released Thursday by the National Association of Realtors (NAR). Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply.

Housing Market 446

Housing Market Inventory Realtors Construction 446

Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

Construction 428

Construction Supply Chain Inventory Housing Market 428

Housing Wire

MAY 27, 2021

Mortgage rates fluctuated again last week, down 5 basis points to 2.95% after managing to pop back up to 3% the week prior, according to Thursday data from Freddie Mac ‘s PMMS. Mortgage rates have been hovering around 3% for over a month now, as macro economic factors left the bond market hesitant over the global recovery.

Mortgage 457

Mortgage Inventory Housing Market Construction 457

Housing Wire

JUNE 3, 2021

Fickle mortgage rates rose once again last week, this time four basis points to an average of 2.99%, according to Thursday data from Freddie Mac ‘s PMMS. However, despite fluctuating sub-3% mortgage rates, borrowers are still competing in a supply strained and overheated market. Even though rates have been below 3.2% from March to 5.85

Mortgage 312

Mortgage Inventory Construction Realtors 312

Housing Wire

AUGUST 26, 2021

The average 30-year fixed-rate mortgage held steady at 2.87% for the week ending in August 26, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates declined slightly to 2.86%. This week’s near constant mortgage rates may not yet reflect a rise in U.S.

Mortgage 464

Mortgage Inventory Government Construction 464

Housing Wire

APRIL 18, 2024

Existing home sales slumped last month under the weight of elevated mortgage rates. million in February, according to a report released Thursday by the National Association of Realtors (NAR). The inventory of existing homes has been steadily increasing, despite elevated mortgage rates. Existing home sales receded by 4.3%

Inventory 341

Inventory Real Estate Agent Sellers Buyers 341

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement.

Housing Market 376

Housing Market Marketing Training New Listings 376

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Mortgage 361

Mortgage Loan Officers Retail Finance 361

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). The question is when are rates going to come down?”

Real Estate 450

Real Estate Inventory Sellers Realtors 450

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement. Tables have turned for some sellers.

Mortgage 389

Mortgage Sellers Contracts Buyers 389

Housing Wire

MARCH 20, 2024

For example, here in Clark County, nearly 1,000 brand-new affordable units for seniors are under construction today as a result — 8,000 homes total for families, seniors and veterans. […] But we have a lot more to do.” He said this would serve to have the effect of lowering their mortgage rate by roughly 1.5%. A record 1.7

Realtors 396

Realtors Insurance Construction Landlords 396

Raleigh Realty

FEBRUARY 4, 2022

New Construction Home Buying Tips You asked. here are the best new construction homebuying tips How to buy a new construction house Last week we wrote an article on how to buy a house for first-time home buyers. Also asking, when do you pay for a new construction house? How Do I Buy A New Construction Home?

Construction 148

Construction Realtors Real Estate Agent Real Estate 148

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. In turn, LOs will be fighting for a piece of the mortgage pie with less rate-sensitive mortgage products, just as they did in 2022.

Renovations 377

Renovations Realtors Construction Mortgage 377

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. higher than last year.

Mortgage 375

Mortgage Loan Officers Inventory Retail 375

Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. While we took some heat from raising this issue at that time, the proposed Realtor settlement could mean that this now becomes a reality on the ground.

Sellers 426

Sellers Realty Insurance Realtors 426

Housing Wire

APRIL 1, 2022

A total of 431,000 non-farm payroll jobs were added in March, and employment in the construction industry is now above its pre-pandemic level, after the industry added 19,000 jobs. ” Cracking the code on marketing to the realtor channel. ” Cracking the code on marketing to the realtor channel. a year ago.

Housing Market 391

Housing Market Construction Marketing Real Estate 391

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. According to Lawrence Yun, chief economist and senior vice president of research at NAR , “mortgage rates are likely to be past their peak and on the way downward.” since May of this year, the 4.2

Mortgage 369

Mortgage Real Estate Buyers Construction 369

Housing Wire

JANUARY 3, 2023

according to data released last Wednesday by the National Association of Realtors. Falling home sales and construction have hurt broader economic activity.”. Yet, mortgage applications point to a thawing, but still cold, housing market as mortgage rates come down.”. On a month over month basis, all four of the major U.S.

Contracts 482

Contracts Housing Market Realtors Construction 482

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire.

Inventory 457

Inventory Construction Mortgage Buyers 457

Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. While we took some heat from raising this issue at that time, the proposed realtor settlement could mean that this now becomes a reality on the ground. The American homebuyer needs help.

Sellers 296

Sellers Realty Insurance Realtors 296

Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. 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.

Inventory 417

Inventory Realtors Housing Market Construction 417

Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. The Realtor survey was sent out in late July to 55,751 randomly-selected residential Realtors.

Buyers 395

Buyers Inventory Realtors Finance 395

Housing Wire

APRIL 14, 2023

The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis. The National Association of Realtors Research Group has produced the index since 2008, a time of turbulence in the real estate market.

Realtors 407

Realtors Buyers Inventory Sellers 407

Housing Wire

OCTOBER 26, 2023

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). 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.

Inventory 356

Inventory Contracts Housing Market Realtors 356

Housing Wire

MARCH 8, 2024

In February, employment continued to trend up in construction, adding 23,000 jobs month over month. However, the economic data we’re seeing now could cause the market to react, anticipating future Fed action, which could lower borrowing rates, including mortgage rates. Average hourly earnings for private-sector employees grew by 0.1%

Transportation 413

Transportation Retail Housing Market Construction 413

Housing Wire

AUGUST 5, 2022

“Despite the negative reading on second quarter GDP, this is not a picture of an economy in recession,” Mike Fratantoni, the chief economist at the Mortgage Bankers Association, said in a statement. Employment in the construction sector is now 82,000 jobs higher than in February 2020. rates in the months before the pandemic.

Real Estate 391

Real Estate Construction Brokerage Insurance 391

Housing Wire

MARCH 1, 2024

Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association , said. “We While Fischer attributes some of the uptick in activity to typical seasonality, he noted that the recent relative stability and even slight decreases in mortgage rates have also contributed. as of February 29, 2024.

Housing Market 396

Housing Market Marketing Inventory Construction 396

Housing Wire

APRIL 5, 2024

Since the spring of last year, a typical family with a median income has not been able to afford a median-priced home, according to the National Association of Realtors’ (NAR) Housing Affordability Index. As of now, mortgage payments are nearing all-time highs as mortgage rates near 7% and the median U.S. Half of U.S.

Renovations 394

Renovations Construction Realtors Mortgage 394

Housing Wire

JULY 25, 2023

Credit: S&P Dow Jones Affordability pressures “This month’s index data tracks prices for March, April and May, a period during which mortgage rates spanned a 0.5 The 30-year mortgage rates dropped to as low as 6.3% in April, according to Mortgage News Daily. on Monday, according to HousingWire’s Mortgage Rates Center.

Inventory 273

Inventory Construction Buyers Mortgage 273

Housing Wire

APRIL 29, 2021

The National Association of Realtors released encouraging news Thursday about the future of the housing market. Low inventory has been a constant problem, but more inventory will show up as new home construction intensifies in the coming months, as well as from a steady wind-down of the mortgage forbearance program,” Yun said.

Contracts 414

Contracts Inventory Construction Realtors 414

Housing Wire

JULY 27, 2023

After dropping slightly month over month in May , pending home sales ticked back up in June, rising 0.3%, according to data released Thursday by the National Association of Realtors (NAR). The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% annual drop recorded in May. this year and then decline to 6.0%

Construction 341

Construction Inventory Realtors Housing Market 341

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 344

Loan Officers Clients Mortgage Construction 344

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times. Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like?

Business 339

Business Marketing Real Estate Legal 339