Housing Wire

MARCH 25, 2021

The broader economy showed signs of recovery last week, pushing the average mortgage rate for a 30-year fixed loan up eight basis points to 3.17%, according to Freddie Mac ’s Primary Mortgage Market Survey. “We are far away from those mortgage rate levels right now, but you have to know your limits with new home sales.”

Mortgage 538

Mortgage Construction Realtors Inventory 538

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgage 336

Mortgage Marketing Retail Construction 336

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Loan Officers 384

Loan Officers Mortgage Inventory Clients 384

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

Mortgage 382

Mortgage Construction Lending Real Estate 382

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.

Mortgage 385

Mortgage Sellers Contracts Buyers 385

Housing Wire

OCTOBER 20, 2022

Mortgage rates have more than doubled from the beginning of the year and homebuyers facing affordability challenges are increasingly turning to adjustable-rate mortgages (ARMs) to reduce their monthly payments. The Freddie Mac’s index compiles purchase mortgage rates reported by lenders during the past three days.

Mortgage 391

Mortgage Sellers Buyers New Listings 391

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. Where are mortgage rates headed? in second-quarter 2024.

Mortgage 419

Mortgage Retail Buyers Investors 419

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 397

Mortgage Loan Officers Buyers Inventory 397

Housing Wire

AUGUST 23, 2023

Builders are taking advantage of the housing market inventory issues , which is why new home sales are growing yearly, even with higher mortgage rates. I often use the term efficient home sellers to describe the home builders in this low inventory environment. What do I mean by efficient home sellers ? Today, the U.S.

Mortgage 360

Mortgage Inventory Construction Sellers 360

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. “Mortgage rates should be 5.55%, not 6.5%,” he said.

Mortgage 350

Mortgage Inventory Housing Market Buyers 350

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

SEPTEMBER 26, 2023

However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months. Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said.

Inventory 468

Inventory Buyers Construction Sellers 468

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. Another issue is home sellers’ bias against homebuyers using FHA loans, where offers from non-FHA borrowers are often selected even though lower in price.

Sellers 422

Sellers Realty Insurance Realtors 422

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% It’s savage man, truly savage with the mortgage rate rise.

Mortgage 497

Mortgage Inventory Sellers Housing Market 497

Housing Wire

APRIL 18, 2024

Existing home sales slumped last month under the weight of elevated mortgage rates. The inventory of existing homes has been steadily increasing, despite elevated mortgage rates. This uptick in inventory is a function of high and rising mortgage rates , according to Mike Simonsen, founder and president of Altos Research.

Inventory 334

Inventory Real Estate Agent Sellers Buyers 334

Empire Appraisal Group

DECEMBER 14, 2023

1 in 3 Sellers Granting Buyer Concessions By Kerry Smith Two Fla. SEATTLE – Home sellers gave concessions to buyers in 35% of U.S. Tampa, however, saw a rise in seller concessions to 43.1% It could include money toward repairs, closing costs and/or mortgage-rate buydowns. But in Tampa, 43.1% a year earlier.

Sellers 78

Sellers Buyers Agents Contracts 78

Housing Wire

MAY 28, 2024

Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. No one wants a scenario in which there’s a flood of sellers but no buyers. There just aren’t enough sellers yet.

Inventory 508

Inventory New Listings Contracts Sellers 508

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). ” According to Yun’s forecast, mortgage rates will fall to between 6% and 7% by spring 2024.

Real Estate 449

Real Estate Inventory Sellers Realtors 449

Housing Wire

JANUARY 2, 2024

When will the mortgage industry know it has reached the tipping point where innovation is no longer a competitive advantage but an existential need? Right now, there’s both a compelling need and the technological capacity to do mortgage lending differently. housing and economic policy in ways that aren’t always beneficial.

Mortgage 345

Mortgage Modernization Finance Supply Chain 345

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 355

Mortgage Loan Officers Retail Finance 355

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. Another issue is home sellers’ bias against buyers using FHA loans, where offers from non-FHA borrowers are often selected even though lower in price. The American homebuyer needs help.

Sellers 292

Sellers Realty Insurance Realtors 292

Housing Wire

FEBRUARY 5, 2024

Additionally, the competition from existing home sellers was somewhat absent. single-family homes for sale were new construction, similar to the percentage from a year earlier and good for the highest level of any fourth quarter on record. An estimated 668,000 new homes were sold in 2023, 4.2% Census Bureau and the U.S.

Construction 375

Construction Housing Market Buyers Sellers 375

Housing Wire

NOVEMBER 27, 2023

One of the urban myths spouted by people needing more experience tracking housing data was that millions of homes would hit the marketplace in 2023 because the builders had so many homes under construction. months , the builders will pause construction. Because the builders are efficient sellers. percent (±12.3 percent (±17.9

Construction 417

Construction Buyers Mortgage Inventory 417

Housing Wire

APRIL 19, 2022

Census Bureau released their report for March, showing a solid number of housing permits and starts — but these were boosted by multifamily construction. In addition, this data lags behind the current reality of a housing market dealing with much higher mortgage rates. From Census: Privately?owned percent (±12.3 percent (±8.9

Mortgage 381

Mortgage Housing Market Construction Marketing 381

Housing Wire

OCTOBER 29, 2020

mortgage rate for a 30-year fixed loan remained steady this week, gaining one basis point to 2.81%, Freddie Mac said in a report on Thursday. The average fixed rate for a 15-year mortgage was 2.32%, falling from last week’s 2.33%. The post Mortgage rates remain steady, rise to 2.81% appeared first on HousingWire.

Mortgage 394

Mortgage Transportation Construction Sellers 394

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 371

Inventory Housing Market Marketing Construction 371

Housing Wire

NOVEMBER 22, 2023

Mortgage rates , which reached a more than two-decade high in the fourth quarter of 2023, will begin to come down in 2024, but they are not coming back down to pandemic levels. We are in a new era for mortgage rates where prospective homebuyers should expect rates to settle between 6% and 6.5% next year.

Housing Market 476

Housing Market Marketing Inventory Sellers 476

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

Mortgage 435

Mortgage Inventory Housing Market Construction 435

Housing Wire

JUNE 2, 2023

“Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. Residential building construction added 2,400 jobs during the month.

Construction 336

Construction Real Estate Housing Market Transportation 336

Housing Wire

AUGUST 17, 2021

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. Like so many other production pipelines, the construction of new homes, along with shortages in building materials like concrete and lumber , caused a significant decrease in new homes for purchase. Push for tech.

Mortgage 506

Mortgage Inventory Real Estate Technology 506

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

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

Housing Market 308

Housing Market Marketing Construction Inventory 308

Housing Wire

FEBRUARY 16, 2023

The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates. This is why construction workers haven’t been laid off while other jobs in the housing market have been.

Construction 465

Construction Housing Market Inventory Mortgage 465

Housing Wire

AUGUST 18, 2023

Not prequalifying is unprofessional and can waste your time and the sellers. Don’t lose the listing of a motivated, have-to-sell seller over price. Try saying the following when the seller requests a list price that is too high: “That’s interesting, ‘seller.’ Always prequalify, 100% of the time!

Sellers 346

Sellers Construction Real Estate Finance 346

Housing Wire

APRIL 23, 2024

Three of the biggest topics in housing right now are mortgage rate movements tied to Federal Reserve policymaking, the day-to-day moves in key housing data and forward-looking trends for the housing market. So, if all of you are looking for a sustained lower move in mortgage rates, that’s what you’re going to see.”

Inventory 398

Inventory Housing Market Sellers Marketing 398

Housing Wire

MAY 23, 2024

In Economics 101, the increase in interest rates should have been coexisting with a decrease in demand,“ Todman said in an interview with HousingWire this week during the Mortgage Bankers Association ’s (MBA) Secondary and Capital Markets Conference. But we see demand. We don’t see the supply.“

Renovations 302

Renovations Investors Housing Market Law 302

Housing Wire

JANUARY 23, 2024

home sales in nearly 30 years as high mortgage rates frustrate buyers, the market is reshaping real estate once again, placing buyers on the back foot and swinging the pendulum back to favoring sellers. As we get into 2024, if interest rates touch the 5% mark, we can assume a market that heavily favors sellers.

Real Estate Agent 398

Real Estate Agent Real Estate Buyers Agents 398