Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. We just see a lot of growth opportunities here in terms of building our branch and building our team,” Lotsoff said in an interview with HousingWire.

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Loan Officers Mortgage Lending Retail 381

Housing Wire

MAY 24, 2023

retail residential mortgage applications. 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. The latest MBA data published on Wednesday morning shows that mortgage loan applications decreased 4.6% Department of the Treasury.

Mortgage 383

Mortgage Inventory Retail Housing Market 383

Housing Wire

APRIL 12, 2023

retail residential mortgage applications. In turn, housing inventory has dwindled month after month — furthering affordability issues and causing the spring buying season to miss its expected burst. Overall, mortgage applications increased last week by 5.3% last week.

Mortgage 365

Mortgage Retail Housing Market Contracts 365

Housing Wire

JUNE 2, 2023

What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? Nunes: Surging mortgage rates is one challenge, but inventory is another. So, people who say inventory and rates and it’s bottom and it’s struggling, they just have a loser’s mentality. They buy loans.

Retail 366

Retail Inventory Mortgage Loan Officers 366

Housing Wire

FEBRUARY 23, 2022

retail residential mortgage applications. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) increased to 4.06% from 4.05% the week prior. The survey, conducted weekly since 1990, covers over 75% of all U.S. and the USDA held steady at 0.4%.

Mortgage 395

Mortgage Retail Contracts Inventory 395

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.

Mortgage 408

Mortgage Lending Retail Business 408

Housing Wire

MARCH 2, 2022

retail residential mortgage applications. 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. Regarding purchase applications, Kan said the activity remained weak amid a strong home-price growth and low inventory.

Mortgage 370

Mortgage Retail Contracts Government 370

Housing Wire

AUGUST 31, 2022

The MBA estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) rose to 5.80% this week to the highest level since mid-July, from the previous week’s 5.65%. However, Kan said rising inventories and slower home-price growth could bring some buyers back into the market later this year.

Mortgage 370

Mortgage Retail Contracts Inventory 370

Housing Wire

AUGUST 5, 2022

Guild, a purchase-focused lender with a distributed retail model, reported $5.7 Looking ahead, we expect gain-on-sale margins to stabilize in the second half of this year, assuming excess capacity continues to contract, thereby driving more favorable pricing dynamics over time,” Terry Schmidt, Guild’s president, told analysts.

Retail 377

Retail Contracts Mortgage Inventory 377

Housing Wire

MAY 3, 2022

“As we all know, the origination business, which had been extremely profitable the past couple of years, is now in the middle of a serious contraction and will remain this way for the near future,” the executive said. Volumes in wholesale, retail and direct-to-consumer represented 57.2% quarter-over-quarter to $55.9

Retail 333

Retail Investing Real Estate Mortgage 333

Housing Wire

JUNE 15, 2024

Weekly housing inventory data As we head into the summer, I still can’t express enough gratitude for the growth in inventory this year. If mortgage rates keep falling and demand picks up, we will have a much better buffer with active inventory than in 2022 and 2023.

Mortgage 423

Mortgage Inventory Marketing New Listings 423

Housing Wire

MARCH 15, 2024

On average, about 50% of referrals to a retail LO come from buyers’ agents, VanFossen said. But its members noticed “many real estate agents are already writing sales contracts that require the buyer to pay the buyer’s real estate commission.” However, with the NAR settlement, listing agents may start dealing directly with homebuyers.

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Buyers Agents Mortgage Real Estate Agent 501

Hank Miller Team

DECEMBER 17, 2021

The Jan/Feb inventory bounce always happens; and it did in 2020 until the world stopped. See the inventory bumps as we head into the first quarter? Right now (mid Dec 2021) we’re dragging the bottom for inventory; we're finding old shipwrecks, dead fish, plenty of garbage and a few Mafia bodies. Let's look at history.

Buyers 98

Buyers Supply Chain Inventory Real Estate 98

Realtor

APRIL 14, 2021

“Regardless of the economic environment and uncertain times, consumers will always have a need or desire to buy a home,” says Ann Thompson , retail sales executive of the West with Bank of America. This can be attributed to low mortgage rates and low inventory creating strong demand from buyers.

Mortgage 159

Mortgage Real Estate Agent Buyers Real Estate 159

Housing Wire

JANUARY 19, 2023

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. “Consumer spending increased slightly, with some retailers reporting more robust sales over the holidays. In other markets, inventory growth accelerated substantially from the previous report.

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Inventory Housing Market Marketing Construction 408

Appraisal Today

JULY 1, 2023

Existing-home sales continued to be held back by a lack of for-sale inventory as many potential sellers are holding on to their lower-rate mortgages.” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.75 percent of total applications from 26.9

Appraisal 88

Appraisal Contracts Market Value Mortgage 88

Housing Wire

APRIL 13, 2024

Weekly housing inventory data Usually, I would jump for joy at last week’s inventory growth. However, last week’s numbers don’t get a passing grade: The rebound impact of Easter boosted last week’s inventory data, just like it caused the inventory data to decline in the previous week.

Inventory 465

Inventory Mortgage New Listings Retail 465

Hank Miller Team

JUNE 19, 2022

All the while, spring sellers toss homes on the market waiting for 20 contracts in the first day. Days on market reflects how long it takes to contract a home. The kick in the head in this chart is the months of inventory slope; errr rocket trajectory. Those days appear over. No market operates in a vacuum.

Sellers 52

Sellers Real Estate Contracts Buyers 52

Appraisal Today

JUNE 16, 2023

Rates that are still more than a percentage point higher than a year ago, and low for-sale inventory continue to constrain homebuying activity in many markets. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.77 percent from 6.81 percent from 6.74

Appraisal 77

Appraisal Contracts Design Mortgage 77

Appraisal Today

MARCH 8, 2024

Other sources of housing data are showing increases in new listings, which is a real positive for the spring buying season given the lack of for-sale inventory.” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02 percent the previous week.

Appraisal 85

Appraisal Contracts Real Estate Housing Market 85

Appraisal Today

AUGUST 4, 2023

However, high mortgage rates and limited affordable inventory keep exerting pressure on potential homebuyers. Unless there are improvements in affordability and inventory, the market dynamics will likely stay consistent. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.85

Appraisal 74

Appraisal Business Contracts Real Estate 74

Appraisal Today

APRIL 5, 2024

Appraisers must consider regional economic conditions, inventory levels, and buyer sentiment when evaluating properties. Construction and Inventory Trends: With new construction activity surging and a notable increase in permits, there is an impending shift in market supply. percent from 6.93 percent, with points decreasing to 0.59

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Appraisal Contracts Business Construction 79

Appraisal Today

SEPTEMBER 22, 2023

“Purchase applications increased for conventional and FHA loans over the week but remained 26 percent lower than the same week a year ago, as homebuyers continue to face higher rates and limited for-sale inventory, which have made purchase conditions more challenging. The average contract interest rate for 5/1 ARMs decreased to 6.42

Appraisal 89

Appraisal Training Inspection Real Estate 89

Appraisal Today

OCTOBER 20, 2023

Purchase applications were 21 percent lower than the same week last year, as homebuying activity continues to pull back given reduced purchasing power from higher rates and the ongoing lack of available inventory. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 7.36 percent from 7.67

Appraisal 74

Appraisal Design Contracts Inspection 74

Realtor

APRIL 14, 2021

“Regardless of the economic environment and uncertain times, consumers will always have a need or desire to buy a home,” says Ann Thompson , retail sales executive of the West with Bank of America. This can be attributed to low mortgage rates and low inventory creating strong demand from buyers.

Mortgage 78

Mortgage Real Estate Agent Buyers Real Estate 78

Appraisal Today

AUGUST 18, 2023

That’s because scarce inventory is driving up prices, pushing many homes on the cusp over the seven-figure mark. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.16 The average contract interest rate for 15-year fixed-rate mortgages increased to 6.57

Appraisal 77

Appraisal Contracts Inspection Real Estate 77

Appraisal Today

MAY 17, 2024

Added Kan, “While the downward move in rates benefits prospective homebuyers, mortgage rates are still much higher than they were a year ago, while for-sale inventory remains tight.” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.08 percent from 7.18

Tools 66

Tools Appraisal Renovations Design 66

Appraisal Today

DECEMBER 8, 2023

That’s partly because sale-price data is a lagging indicator, reflecting deals that went under contract a month or two ago. Growth in sale prices may slow in the coming months as it starts to reflect sales that went under contract as mortgage rates hit 8% in October. The average contract interest rate for 5/1 ARMs decreased to 6.58

Appraisal 69

Appraisal Real Estate Contracts Design 69

Appraisal Today

JANUARY 5, 2024

Added Kan, “The housing market has been hampered by a limited supply of homes for sale, but the recent strength in new residential construction will continue to help ease inventory shortages in the months (to) come.” The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.51 percent from 6.71

Appraisal 78

Appraisal Contracts Legal Business 78

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. USPAP and the Contract. Excerpt: But USPAP and the contract have a very unique relationship. Some appraisers do not like having a copy of the contract.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

APRIL 21, 2023

Affordability challenges persist and there is limited for-sale inventory in many markets across the country, so buyers remain selective on when they act. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.43 percent from 6.30 percent from 6.26

Appraisal 52

Appraisal Contracts Modernization Mortgage 52

Housing Wire

AUGUST 3, 2022

The average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) decreased to 5.43%, from the previous week’s 5.74%, the largest weekly decline since 2020. Lower mortgage rates, combined with signs of more inventory coming to the market, could lead to a rebound in purchase activity,” Kan said.

Mortgage 382

Mortgage Inventory Retail Contracts 382

Appraisal Today

JUNE 9, 2023

Purchase activity is constrained by reduced purchasing power from higher rates and the ongoing lack of for-sale inventory in the market, while there continues to be very little rate incentive for refinance borrowers. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.73 percent from 6.91

Appraisal 52

Appraisal Advertising Real Estate Contracts 52

Appraisal Today

MAY 10, 2024

Appraisers must consider broader economic indicators, such as inflation rates and GDP growth, in tandem with localized market conditions, including inventory levels and median price changes, to provide accurate and timely valuations. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.92

Reconsideration of Value 76

Reconsideration of Value Appraisal Real Estate Insurance 76

Appraisal Today

MAY 19, 2023

Purchase applications decreased 5 percent to its slowest pace in a month, as buyers remain wary of this rate volatility, but also as for-sale inventory in many parts of the country remains scarce. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.57

Appraisal 52

Appraisal Business Contracts Real Estate 52

Appraisal Today

JUNE 10, 2022

” The most popular reason for respondents rebuffing the bubble thesis is strong market fundamentals, including demographics, scarce inventory and shifting housing preferences. The purchase market has suffered from persistently low housing inventory and the jump in mortgage rates over the past months. percent the previous week.

Appraisal 52

Appraisal Contracts Business Mortgage 52

Appraisal Today

JUNE 23, 2023

“First-time homebuyers account for a large share of FHA purchase loans, and this increase is a sign that while buyer interest is there, activity continues to be constrained by low levels of affordable inventory. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.73

Appraisal 89

Appraisal Real Estate Valuation Contracts 89