Housing Wire

MAY 5, 2021

MBA’s Associate Vice President of Economic and Industry Forecasting Joel Kan called last week’s mortgage activity “a mixed bag,” between rates , loan sizes, and government purchase applications. Both conventional and government purchase applications declined, but average loan sizes increased for each loan type.

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Housing Wire

MARCH 24, 2021

Refinance activity dropped to its slowest pace since September 2020 – down a full 5% – with declines in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. Inadequate housing inventory continues to put upward pressure on home prices,” Kan said.

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Housing Wire

MAY 22, 2023

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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Housing Wire

OCTOBER 28, 2020

However, the government refinance index decreased for the first time in a month, driven by a slowdown in VA refinance activity,” Kan said. Furthermore, housing inventory shortages have pushed national home prices considerably higher on an annual basis,” Kan said. Nevertheless, refis remained 80% higher than the same time a year ago.

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Housing Wire

AUGUST 30, 2023

“Purchase applications increased but were still 27 percent lower than a year ago, as elevated mortgage rates and tight housing inventory continue to weigh on home-buying activity,” Kan added. Government refinance applications dropped more than 10% last week. Also noteworthy, a 7.9% Lastly, the U.S. a week prior.

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Housing Wire

AUGUST 9, 2023

government debt rating by Fitch Ratings and the Treasury’s funding announcement that followed played a non-negligible role in this hike, observes Joel Kan, MBA’s vice president and deputy chief economist. “Not The average contract interest rate for 5/1 ARMs climbed to 6.36% from 6.18% a week prior. The downgrading of the U.S.

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Housing Wire

JUNE 8, 2022

Only government refinances saw a slight increase last week,” Kan said. The purchase market has suffered from persistently low housing inventory and the jump in mortgage rates over the past two months. In May, the inventory of homes for sale rose 8%, marking the first rebound since June 2019. year over year. .

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Housing Wire

DECEMBER 30, 2020

Year-over-year, contract signings increased by 16.4%. “The latest monthly decline is largely due to the shortage of inventory and fast-rising home prices,” said Lawrence Yun, NAR’s chief economist. pending home sales slid for the third consecutive month in November, dropping 2.6% Presented by: WFG.

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Housing Wire

APRIL 26, 2023

Borrowers’ demand increased for conventional and government loans, up 4.50% and 1.20% from one week earlier, respectively. Both conventional and government home purchase applications increased last week. Altos Research data shows that inventory rose from 405,468 to 414,010 from April 14 to 21. Mortgage apps also rose 4.7%

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Housing Wire

DECEMBER 8, 2021

3, driven by a surge in government refinancings according to the Mortgage Bankers Association (MBA) survey published on Wednesday. The trade group estimates the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) decreased to 3.30%, one basis point down from the previous week.

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Housing Wire

MARCH 10, 2021

With spring approaching – signaling the start of a busy buying season – the purchase market sported its strongest showing in four weeks, with gains in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. from 12.3% the week prior.

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Housing Wire

DECEMBER 7, 2020

For now, though, the low inventory means housing starts have legs to move higher. Existing home inventory is also at all-time lows. Existing home inventory is also at all-time lows. Unsold inventory sits at an all-time-low 2.5-month Keep this rule of thumb in mind for the future, below 4.3 Existing Home Supply.

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Housing Wire

AUGUST 25, 2021

Lower rates led to an increase in refinance applications, with government loan applications jumping 10 percent to the highest level since May 2021.” ” Kan also noted that purchase applications for both conventional and government loans increased on the week that ended Aug. of total applications. the week prior.

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Housing Wire

FEBRUARY 3, 2021

. “The one-week reversal in the recent upswing in rates drove an increase in both conventional and government refinance activity, as borrowers continue to lock in these historically low rates,” Kan said. ” The FHA share of total mortgage applications decreased to 9.1% the week prior. from 12.4% the week prior.

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Housing Wire

FEBRUARY 17, 2021

The housing market in early 2021 continues to be constrained by low inventory and higher prices. Conventional and government applications to buy a home declined last week, but purchase activity overall is still strong – up 15% from last year,” Kand said.

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Housing Wire

NOVEMBER 21, 2022

trillion the following year, according to the government-sponsored enterprise. In addition, the unsold existing homes inventory has slipped for three consecutive months, ending October at 1.22 The latest forecast also projects that total mortgage origination activity is slightly increased at $2.34 trillion in 2022. year over year.

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Housing Wire

NOVEMBER 17, 2020

In a panel at the NAR 2020 Realtors Conference and Expo , Yun discussed what a Biden presidency could mean for the housing market, the future of mortgage rates and how to remedy low housing inventory. Housing inventory has remained lower than ever this year. Yun said that winter should remain busy as well, and even into spring 2021.

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Housing Wire

DECEMBER 15, 2021

The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%. decline in applications for government loans. Would-be homebuyers are finding it hard to compete with FHA and VA loans in a purchase market defined by low inventory.

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Housing Wire

JUNE 23, 2021

“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.”. the previous week.

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Housing Wire

FEBRUARY 9, 2021

The index plunged from record highs seen in late 2019 after the COVID-19 pandemic caused the worst economic contraction since the Great Depression. while the Jumbo MCAI measuring high-balance loans rose 2.2%, and the Conventional MCAI that measures loans not backed by the government rose 4.8%.

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Housing Wire

NOVEMBER 24, 2021

“Both conventional and government loan applications increased, and the average loan size for a purchase loan was at $407,200, continuing its ongoing 2021 run of being mostly above $400,000,” Kan said. year-over-year, and purchase apps decreased 6% in the same period, a symptom of even lower levels of inventory.

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Housing Wire

OCTOBER 12, 2022

trillion in 2023, according to the government-sponsored enterprise. annualized in the third quarter of 2022 due to strong net export and inventory investment activity, before contracting 0.7% contraction in real GDP in 2023. The latest forecast also projects total mortgage origination activity at $1.6

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Housing Wire

DECEMBER 2, 2020

“Purchase activities continued to show impressive year-over-year gains, with both the conventional and government segments of the market posting another week of growth,” Kan said. Housing demand remains strong, and despite extremely tight inventory and rising prices, home sales are running at their strongest pace in over a decade.”.

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Housing Wire

SEPTEMBER 1, 2021

The seasonally adjusted purchase index dropped 2% compared to the previous week and was 16% lower than it was a year ago, largely due to soaring prices and paltry inventory. Even with a slight increase, purchase activity hit its highest level since early July, as applications for conventional and government loans increased.”

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Housing Wire

MAY 24, 2023

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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Housing Wire

JANUARY 27, 2021

“In a sign that borrowers are increasingly more sensitive to higher rates, large declines in government purchase applications and refinance applications pulled overall activity lower,” Kan said. All other mortgage rates in the survey posted a decline. The FHA share of total mortgage applications increased to 9.4% the week prior.

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Housing Wire

JANUARY 19, 2022

The continued rise in purchase loan application sizes is driven by high home price appreciation and the lack of housing inventory on the market – especially for entry-level homes,” Kan said. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) increased from 3.52% to 3.64%.

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Housing Wire

MARCH 16, 2022

That’s led to a significant decline in refinance activity, both for conventional and government loans. The seasonally adjusted purchase index increased 1% from one week earlier; the unadjusted purchase index increased 2% from the prior week but was 8% lower than the same week a year ago, largely due to a decline in inventory.

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Housing Wire

JUNE 30, 2021

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 Wire

APRIL 12, 2023

” There was increased demand for government loans in particular, with the Federal Housing Administration (FHA) share of total purchase applications increasing to 12.3% In turn, housing inventory has dwindled month after month — furthering affordability issues and causing the spring buying season to miss its expected burst.

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Housing Wire

DECEMBER 21, 2023

My favorite, and one of the most valuable and underutilized products in today’s low-inventory market , is the VA renovation loan. REALITY: The appraisal process is similar to conventional and other government-sponsored loans. The VA approves and contracts with local appraisal professionals to ensure a seamless process.

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Housing Wire

FEBRUARY 7, 2023

And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. Tozer suggested “a fee of 1.3%

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Housing Wire

MARCH 2, 2022

The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) increased to 4.15% from 4.06% the week prior. Although there was an increase in government refinance applications, higher rates continue to push potential refinance borrowers out of the market,” Kan said in a statement.

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Housing Wire

APRIL 2, 2021

Sales in general are still high, per Redfin Chief Economist Daryl Fairweather — 59% of homes that went under contract in the current four-week period had an accepted offer within the first two weeks on the market — but the recent low numbers suggest some homebuyers have reached their limit on high home prices and bidding wars.

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Housing Wire

OCTOBER 16, 2023

It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks. Editor’s note: There are conventional mortgage options with down payments as low as 3% and government-insured loans with a low- or no-down-payment requirement.) Let’s use $10,000 as an example.

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Housing Wire

DECEMBER 31, 2021

Few in mid-March could have predicted that a perfect storm of ultra-low interest rates, new migration patterns and historic government intervention wouldn’t just save them, but line their pockets with billions of dollars and change their entire trajectory. But many of those elements are fading as the industry heads into 2022.

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Housing Wire

JANUARY 12, 2024

The downsized volume reflects two equally important factors: a housing market characterized by limited inventory, high mortgage rates and reduced demand, but also the banks taking themselves off the board for some residential mortgages. Amid the contraction at Wells Fargo, JPMorgan became bigger than its rival in the mortgage space.

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