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Home equity is the bright gem of the housing market

Housing Wire

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ).

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February pending home sales disappoint, but maybe we’re turning a corner?

Housing Wire

Pending home sales rose for the third month in a row in February, but at 0.8%, the uptick over January was less than is typically seen in the run-up to the spring housing market. Month-over-month, contract signings increased in three U.S. Pending home sales decreased in all four regions compared to one year ago.

Contracts 301
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Home price growth slowed further in October

Housing Wire

(The Case-Shiller home price indices for October is a three-month average of closing prices in August, September and October. Because most home sales take several months from contract to closing, the data likely includes some deals struck in June and July.). to a reading of 315.13. “As

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What’s The Leaven Causing Home Prices to Rise Today?

Cleveland Appraisal Blog

On many of my appraisals at that time, my opinion of value would not support the contract price. Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value.

Inventory 243
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Banking Failures & Their Impact On the Housing Market - Part 2 - The REO Dilemma

Eppraisal

In the last post, we looked at how bank failures can lead investors to bonds which, subsequently, pressure mortgage lenders to lower their interest rates. Real estate owned (REO) properties are those that were once collateral to an active mortgage but were seized in foreclosure actions. How Does the REO Process Work?

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Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. So when I talk to loan originators today, I harken back to my early days when fixed mortgage rates were over 14% and there were absolutely no refinances to be had.

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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Freddie Mac projects that home-price growth will average 12.8%