Housing Wire
JANUARY 6, 2023
Can we have a soft landing in the economy? Friday’s job report shows there is a clear pathway to get there. Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer.
Sacramento Appraisal Blog
JANUARY 3, 2023
What’s the real estate market going to do in 2023? Nobody has a crystal ball, but here are some emerging trends. Scroll quickly or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 1/12/23 McKissock Webinar (register here) 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on Zoom (register here) 1/20/23 […].
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Inman
JANUARY 19, 2023
Inman Access is dropping three new classes to help you navigate shifts in investor sentiment, expand your skills as a team leader and get the best tips on leveraging video as a marketing tool.
Eyes on Housing
JANUARY 13, 2023
In May of last year, Eye on Housing reported on historically widespread shortages of building materials. Since then, most of the shortages have eased; the major exceptions being shortages of HVAC equipment and certain categories of ceramic materials (ceramic tiles, clay bricks and cement-based building materials), which have gotten slightly worse. NAHB has been tracking shortages of building materials and.
Appraiserblogs
JANUARY 30, 2023
The Maryland appraiser has filed a countersuit against the homeowners, claiming defamation. Appraisers, there have been several lawsuits filed against appraisers by borrowers who “don’t like your value, so I’m accusing you of discrimination” over the last year or so. These lawsuits all have the same theme, and it’s entirely possible that these actions are being coordinated by a consortium of ‘organizers’ and law firms.
McKissock
JANUARY 19, 2023
On January 18, 2023, HUD issued an announcement regarding revisions made to Handbook 4000.1. According to the announcement, the revisions included “enhancements and revisions to existing guidelines and various technical edits.” The most significant of these revisions was the elimination of the requirement to include the 1004MC form as an attachment to the appraisal report.
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Lamacchia Realty
JANUARY 2, 2023
SIMPLE WAYS TO ADD PROPERTY VALUE. Having a property is more than just an emotional endeavor. Additionally, it’s a financial choice that could pay off as you accumulate equity in your house and witness your property value rise over time. The neighborhood in which your property is located, the housing demand in the area, and the state of the economy all impact how quickly this property value will rise.
Inman
JANUARY 20, 2023
Inflation and rising interest rates tilted the housing market off its axis in 2022. Here's the story of one woman who joined the ranks of real estate agents last year — and thrived amid the chaos.
Eyes on Housing
JANUARY 18, 2023
The producer price index (PPI) for inputs to residential construction less energy (i.e. building materials) rose 8.3% in 2022 (not seasonally adjusted) according to the latest PPI report—less than one-half the increase seen in 2021. On a monthly basis, building materials prices declined 0.3% in December—the fourth consecutive monthly decrease. After increasing an average of 1.8% per month the first five.
BiggerPockets
JANUARY 9, 2023
It’s a story that’s echoed across social media platforms from rental property owners across the nation: Vacation rentals are no longer generating the steady revenue investors grew to expect during […].
Mashvisor
JANUARY 5, 2023
If you want to invest in residential real estate but aren’t 100% sure what your first step should be, we’re here to help you develop a plan.
Housing Wire
JANUARY 20, 2023
On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S. housing market , we just experienced an event that most people never thought could happen.
Lamacchia Realty
JANUARY 23, 2023
8 STEPS TO TAKE BEFORE PURCHASING YOUR FIRST HOME In this guide, you’ll learn the steps you should take before purchasing your home. Whether it’s your first time in the real estate market or you’re an experienced homeowner who wants to brush up on your skills, this is everything you need to know! Step 1: Start saving a down payment. One of the essential steps to buying a house for the first time is understanding what you can afford and saving for the down payment.
Inman
JANUARY 9, 2023
The metaverse is quickly becoming a platform, or a collection of several platforms, where you can advertise, socialize, build, and explore. It’s no wonder we’ve started to imagine how to bring real estate to this realm.
Eyes on Housing
JANUARY 31, 2023
Dwindling housing affordability in the fourth quarter of 2022 caused the share of prospective home buyers who are actively engaged in the purchase process (i.e. who have moved beyond just the planning phase) to drop to 46%, down from 59% a quarter earlier. The share of prospective buyers fully engaged in the buying process declined in every region between the.
BiggerPockets
JANUARY 24, 2023
This article is presented by Easy Street Capital. Read our editorial guidelines for more information.
Mashvisor
JANUARY 12, 2023
As we enter the first month of the new year, plenty of homebuyers and real estate investors are keeping an eye on the January 2023 mortgage rates.
Housing Wire
JANUARY 9, 2023
The housing market saw inventory fall 4% last week from the week before. That’s a big one-week change. Does that mean we are heading back to all-time lows in inventory again for 2023? Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer.
Lamacchia Realty
JANUARY 20, 2023
The REALTOR ® with the Highest Sales Volume in the Chelmsford Office for 2022 is Angela Harkins! Angela closed out 2022 with over $19,500,000 in sales volume! This is Angela’s 5 th year achieving the #1 spot. Angela is a consistent top performer in the Chelmsford office and the company overall. In addition, Angela ended the year by ranking as the #16 REALTOR ® in the company – that’s out of nearly 500 REALTORS ® !
Inman
JANUARY 25, 2023
Acquiring Realtor.com would significantly advance CoStar's push into residential real estate — and bring it into greater conflict with the industry's existing power players.
Eyes on Housing
JANUARY 10, 2023
Mortgage rates have increased rapidly in 2022, as the Federal Reserve continues to fight high inflation. The U.S. weekly 30-year fixed-rate mortgage rose from a slightly more than 3% in early 2022 to more than 7% in late October and leveled off at a rate of 6.42% as of the end of 2022. Mortgage payments have increased from $1,925 on.
Housing Wire
JANUARY 16, 2023
Here’s the rundown for the last week: Purchase application data has stabilized — the bleeding stopped. Housing inventory increased by 1,339 homes nationwide. This is a small number but could be the start of an important trend. Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. 20. The weekly data shows some good news for the housing market !
Housing Wire
JANUARY 12, 2023
Today’s inflation data has shown that the peak growth rate of inflation is behind us. This should also mean mortgage rates hit their highs. The key phrase I have stressed since I wrote about the case for mortgage rates to go lower on Oct. 27 is thinking 12 months out. The trend is your friend, and the month-to-month data has cooled off noticeably. That cooling happened even with the biggest inflation component — shelter inflation — still rising in the lagged modeled CPI data.
Housing Wire
JANUARY 11, 2023
Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . “I’ve had five people contact me in the last week or so to talk about buying a new home, which is much better than a month or two ago,” Rochelle Gano , a Vancouver, Washington-based loan officer at Movement Mortgage , told HousingWire. “It seems like, with every
Housing Wire
JANUARY 4, 2023
The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. It represented the lowest level of activity in 27 years. “With mortgage rates still well above 6% and the threat of a recession looming, mortgage applications continued to decline over the past two weeks to the lowest level since 1996,” Joel Kan, Mortgage Bankers Association ‘s vice president and deputy chief economist, said in a statement.
Housing Wire
JANUARY 23, 2023
Here’s the housing market rundown for the last week: Purchase application data had a solid week-to-week gain of 25%. That’s a big jump, but context is critical. Housing inventory decreased by 566 units, which is not a significant decline. Mortgage rates fell, but the bond market didn’t break what I see as a critical level, so for now, stabilization is more important.
Housing Wire
JANUARY 4, 2023
Mortgage technology provider FormFree gives back to those in need in Northeast Georgia in a big way. FormFree hosted its third annual Heroes Golf Classic and raised nearly $55,000 for the American Red Cross. The donations will go toward disaster relief and hosting future blood drives. The CEO of FormFree, Brent Chandler, is also on the board of directors for the American Red Cross.
Housing Wire
JANUARY 3, 2023
Pending home sales fell for the sixth consecutive month in November, recording a 4.0% month-over-month drop that resulted in an index reading of 73.9, according to data released last Wednesday by the National Association of Realtors. “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates , which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home,” Lawrence Yun, NAR’s chief economist, sa
Housing Wire
JANUARY 30, 2023
We are off and going now, as seasonality has kicked into full gear with the purchase application data. And, so far, it’s been a good start to the year. Here’s the housing market rundown for the last week: Purchase application data showed positive weekly growth again — and the bounce from the bottom is more noticeable now. Housing inventory decreased by 6,468 units, a more pronounced decline from the previous week.
Housing Wire
JANUARY 12, 2023
Mortgage industry watchers have started 2023 with optimism regarding the possibility of mortgage rates returning to the 5% range this year – but not without a dose of volatility on the way. “The mortgage market began 2023 on a positive note, with a decline in mortgage rates leading to an uptick in refinance applications. Purchase activity was down again on a weekly and annual basis,” Bob Broeksmit, Mortgage Bankers Association (MBA) president and CEO, said in a statement.
Housing Wire
JANUARY 9, 2023
This article is part of our 2022 – 2023 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Housing Wire
JANUARY 10, 2023
Potential homebuyers’ purchase sentiment improved slightly in December, but that still remains well below pre-pandemic highs, according to new data from Fannie Mae. Ongoing affordability challenges are expected to limit buyers from entering the market in 2023, according to Fannie Mae , which will result in continued decline in home sales in coming months.
Housing Wire
JANUARY 10, 2023
Wells Fargo , the largest depository mortgage lender in America, announced Tuesday that it will officially exit the correspondent channel and also reduce its servicing portfolio, the country’s largest. . The move isn’t much of a surprise. Executives have hinted at it over the past year and Bloomberg reported in August that Wells Fargo would likely shrink or eliminate the correspondent channel.
Housing Wire
JANUARY 3, 2023
Top U.S. lender United Wholesale Mortgage (UWM) notched a partial win in a lawsuit against broker shop America’s MoneyLine (AML) regarding the controversial “ultimatum” it imposed two years ago. UWM CEO Mat Ishbia announced in March 2021 that brokers who did business with Rocket Mortgage or Fairway Independent Mortgage could not also send loans to UWM, which the lender called the “All In” initiative.
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