Housing Wire

OCTOBER 26, 2023

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. Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” in 2023, to $430,800, and increase by 3.5%

Inventory 401

Inventory Contracts Housing Market Realtors 401

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S.

Loan Officers 413

Loan Officers Mortgage Buyers Inventory 413

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Housing Market 413

Housing Market Marketing Contracts Finance 413

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. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. from September, with 1.15

Inventory 403

Inventory Realtors New Listings Contracts 403

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgage 392

Mortgage Marketing Investors Lending 392

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% Homebuyers have been closely watching mortgage rates, which have been volatile during the first few months of the year,” said Lisa Sturtevant, chief economist for Bright MLS. In-contract deals rose 0.7%

Contracts 302

Contracts Realtors Home Value Housing Market 302

Housing Wire

OCTOBER 31, 2023

In August, pending home sales , existing home sales and new home sales all fell compared to the previous month, as mortgage rates climbed and inventory remained scarce. During the first week of June, mortgage rates were at 6.79%. The median existing-home sale price rose 2.8%

Inventory 470

Inventory Housing Market Contracts Realtors 470

Housing Wire

DECEMBER 15, 2021

Mortgage applications fell 4% for the week ending Dec. 10, large part because fewer borrowers are looking to refi their exiting mortgages, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. Compared to a year ago, mortgage applications declined across the board. from the week prior.

Inventory 403

Inventory Contracts Government Mortgage 403

Housing Wire

DECEMBER 8, 2023

Ultimately, every homebuyer prospect, every contract and every negotiation is different, but your value should be consistent for all situations and clients. Find them the right home Inventory is scarce, and will likely stay that way for a while. There are other ways to find inventory rather than just using your MLS.

Clients 422

Clients Real Estate Inspection Buyers 422

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said. below the August 2022 level.

Housing Market 467

Housing Market Contracts Government Buyers 467

Housing Wire

FEBRUARY 28, 2023

The 2022 housing market was largely characterized by the swift slowdown in demand caused by rapidly rising mortgage rates. With mortgage rates on the rise over the past few weeks, Lazzara expects home price growth to continue to slow. Low inventory has propped up home prices in many markets,” she said. to a reading of 310.64.

Inventory 402

Inventory Housing Market Contracts Realtors 402

Housing Wire

APRIL 25, 2023

Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said. However, despite the recent uptick, the continued low inventory conditions are expected to keep home prices elevated nationally. to a reading of 297.68.

Inventory 380

Inventory Contracts Buyers Sellers 380

Housing Wire

DECEMBER 23, 2022

The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. The run-up in home prices was driven by rock-bottom mortgage rates and pandemic-fueled demand. Average mortgage rates jumped above 7% in November and have settled around 6.5%

Housing Market 401

Housing Market Marketing Inventory Buyers 401

Housing Wire

NOVEMBER 28, 2023

Mortgage rates climbed over the period, reaching 7.3% Low levels of existing home inventory contributed to keeping home prices elevated. The Case-Shiller index measures repeat sales data and reflects a three-month moving average, meaning that it tracks homes that went into contract in July, August and September.

New Listings 397

New Listings Contracts Inventory Sellers 397

Housing Wire

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. Such volatility has triggered turbulence in the mortgage market. The mortgage-backed securities (MBS) market went “no-bid” on Friday. Consequently, mortgage rates leapt like they hadn’t in decades.

Mortgage 382

Mortgage Investors Clients Marketing 382

Housing Wire

MARCH 28, 2023

Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several.” Persistent challenges related to low inventory , however, will prevent home prices from falling dramatically. to a reading of 109.07.

Buyers 392

Buyers Inventory Contracts Finance 392

Housing Wire

NOVEMBER 29, 2022

While buyers are stepping aside waiting for more affordable prices and rates – causing the slowdown on price growth – would-be sellers are sticking their ground and holding tight to the inventory they currently own,” Nicole Bachaud, Zillow’s senior economist, said in a statement. “As The Case-Shiller 20-city home price index posted a 10.4%

Inventory 369

Inventory Contracts Sellers Finance 369

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. this year and then decline to 6.0%

Construction 369

Construction Inventory Realtors Housing Market 369

Realtor

OCTOBER 16, 2023

“Doing your due diligence can help you avoid some of the most common rookie mistakes, so you come out not only with the home of your dreams, but also a mortgage you can afford.” Here are some common blunders homebuyers make when attempting to secure a mortgage.

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks. It never will be. I’ll explain later.)

Agents 404

Agents Buyers Sellers Inventory 404

Appraisal Buzz

DECEMBER 27, 2021

million units , and some experts say it could reach 8 million if there were more inventory. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. The Federal Housing Finance Agency is making desktop appraisals an established option for originating enterprise loans.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Housing Wire

DECEMBER 1, 2021

Digital mortgage lender Better.com is laying off 9% of its workforce ahead of a $750 million cash injection from financial backer SoftBank Group. Company officials say the moves will allow refi-heavy Better to increase its strength in a mortgage market that is increasingly becoming purchase-focused.

Loan Officers 393

Loan Officers Finance Business Mortgage 393

Housing Wire

SEPTEMBER 28, 2021

In addition, homebuyers are continuing to enjoy low mortgage rates , boosting the demand for homes even higher. For-sale inventory levels charted their fourth consecutive monthly increase in August, and sellers appear to be taking a less aggressive approach when putting their homes on the market.

Housing Market 477

Housing Market Finance Contracts Inventory 477

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. It is possible that the 30-year fixed mortgage rate may settle down at 5.5%

Housing Market 302

Housing Market Marketing Loan Officers Buyers 302

Housing Wire

APRIL 9, 2021

Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. WRRE also will help them buy, finance and insure their next home purchase, with mortgage closing times in as few as eight days, considerably faster than the industry average.

Brokerage 404

Brokerage Real Estate Clients Insurance 404

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. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? .”

Retail 370

Retail Inventory Mortgage Loan Officers 370

Housing Wire

AUGUST 18, 2023

Secret #2 Sometimes, especially in a low-inventory market, your potential seller client may know about comparable sales you didn’t capture. If there are new homes going up, be certain to tour them and understand the builder’s perks and financing before you go to your listing appointment. What happens if it doesn’t sell?

Sellers 370

Sellers Construction Real Estate Finance 370

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed.

Inventory 502

Inventory New Listings Sellers Real Estate 502

Housing Wire

SEPTEMBER 7, 2023

If the traditional practice of sellers paying for both sides of the agents ends, housing agencies will have to weigh in to determine ways for buyers to finance their agents’ comp, LOs noted. But if you’re an originator, that simply means that your target group is now smaller,” said Brian Hale, CEO of Mortgage Advisory Partners. “If

Buyers 393

Buyers Agents Loan Officers Real Estate 393

Realtor

APRIL 14, 2021

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at Homebridge Financial Services. ” And did we mention that economists expect mortgage rates to rise? Get pre-approved ASAP. Prepare for bidding wars ahead of time.

Mortgage 159

Mortgage Real Estate Agent Buyers Real Estate 159

Realtor

JULY 13, 2021

In our current seller’s market, the national inventory of active listings is down 43.1% The provisions of a contingency contract are there to protect buyers and sellers. An appraisal waiver commits the buyer to pay the agreed-upon price, whether or not the mortgage lender agrees to lend the buyer the balance.

Inspection 203

Inspection Real Estate Agent Real Estate Buyers 203

Housing Wire

OCTOBER 23, 2020

Contracts during this time also skyrocketed 62%. While the Palm Beach housing market has not seen a lot of bidding wars, Koch said that a lot of the inventory has been absorbed and properties are getting multiple offers. The National Association of Mortgage Brokers has been advocating for mortgage brokers for almost 50 years.

Housing Market 534

Housing Market Marketing Real Estate Agent Real Estate 534

Housing Wire

MAY 13, 2024

Inventory continues to build at the national level, something that’s happening most rapidly in the South. Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines. As the U.S. Let’s look at the details of the U.S.

New Listings 465

New Listings Contracts Inventory Sellers 465

Housing Wire

MAY 20, 2022

Today, homes are selling faster than usual because of the shortage of inventory and high buyer demand. You don’t sell your home to the wholesaler; the contract gets transferred to a buyer the wholesaler finds for you. If you’re in over your head in debt and can’t find your way out, your mortgage company may approve a short sale.

Real Estate Agent 403

Real Estate Agent Tenants Real Estate Agents 403

Realtor

APRIL 14, 2021

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at HomeTown. ” And did we mention that economists expect mortgage rates to rise? In this market, we are seeing a lot of appraisal gaps being written into contracts.

Mortgage 78

Mortgage Real Estate Agent Buyers Real Estate 78

Housing Wire

APRIL 13, 2024

Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? 10-year yield and mortgage rates There is nothing good to report on mortgage rates from last week. The week ahead will answer some of those questions early on.

Inventory 478

Inventory Mortgage New Listings Retail 478

Miller Samuel

FEBRUARY 12, 2019

When Jeff and Marie asked me to be formally interviewed for their blog " The Apple Peeled " I was happy to do so, especially because I could veer off the road into issues about the current mortgage and appraisal process. Overall inventory is up by about 17%, with a significant amount of supply coming from the studio and 1-bedroom market.

Marketing 221

Marketing Real Estate Appraisal Sellers 221