Housing Wire

SEPTEMBER 21, 2022

Before the pandemic, the historical average of annualized house price growth was approximately 4%. Yet, pandemic-era dynamics exacerbated an already large housing demand and supply imbalance, fueling record-breaking annual house price growth, peaking at nearly 21%. Today, as affordability wanes and housing supply ticks up, house price growth is decelerating and will likely continue to trend towards its historical average.

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Sacramento Appraisal Blog

SEPTEMBER 21, 2022

I’ve been getting asked lots of questions lately about choosing comps since the market shifted. Here are some things people have been asking me. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (Sign up here – On Zoom) 10/13/22 Market update in Midtown (details TBD) 10/20/22 How to Think Like an Appraiser (9am-12pm) (Sign up […].

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Appraisal Buzz

SEPTEMBER 23, 2022

According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023. According to the ESR, economic growth is projected to resume in the second half of 2022, but the … The post Fannie Mae Continues to Forecast 2023 Recession appeared first on DSNews.

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Miller Samuel

SEPTEMBER 22, 2022

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Housing Wire

SEPTEMBER 22, 2022

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 million. Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. .

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Inventory Housing Market New Listings Mortgage 458

George Dell

SEPTEMBER 21, 2022

Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort. “What will people think of me — if my […]. The post Should We Think About Thinking?

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The Appraiser Coach

SEPTEMBER 20, 2022

Before the COVID-19 pandemic began, my daughter was doing some volunteer work in South America, helping people who have been rescued from the human trafficking industry. She was down there. Read More.

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Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% from the beginning of this year, but they may have not peaked, putting pressure on affordability challenges for most prospective buyers as the Federal Reserve vows to tame inflation.

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Mortgage Loan Officers Buyers Inventory 421

Miller Samuel

SEPTEMBER 22, 2022

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Appraisal Buzz

SEPTEMBER 23, 2022

Fix-and-flip investors enjoyed another strong quarter in Q2, as the total number of properties flipped nationwide was the second-highest ATTOM recorded over the past 22 years. The post Q2 Profits on Home Flips Hit New High appeared first on DSNews. The post Q2 Profits on Home Flips Hit New High appeared first on Appraisal Buzz.

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Eyes on Housing

SEPTEMBER 22, 2022

The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in the second quarter of 2022, growth of the market value of all owner-occupied real estate in the United States slowed after showed the largest year-over-year percentage gain since 2001 the prior quarter. The market value of owner-occupied real.

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Housing Wire

SEPTEMBER 22, 2022

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The agency’s Economic and Strategic Research (ESR) Group forecasts the total home sales to decline 17.2% to 5.71 million units this year from 2021, a further downward revision from August’s projected 16.2% drop. .

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Housing Market Supply Chain Marketing Inventory 410

Miller Samuel

SEPTEMBER 22, 2022

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Appraisal Buzz

SEPTEMBER 23, 2022

The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. The agency also seeks public input on ways to support … The post CFPB Seeks to Expand Homebuyer Options appeared first on DSNews.

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Eyes on Housing

SEPTEMBER 22, 2022

Continuing its tightening of financial conditions to bring the rate of inflation lower, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 75 basis points, increasing that target to an upper bound of 3.25%. This marks the third consecutive meeting with an increase of 75 basis points. These supersized hikes are intended to move monetary policy.

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Housing Wire

SEPTEMBER 21, 2022

Atlanta-based non-QM lender Angel Oak Cos. , through its mortgage-backed securities conduit Angel Mortgage Trust , has unveiled its sixth private-label securities (PLS) offering of 2022, even as fast-rising interest rates have jumped far ahead of the lower-rate legacy loans securing the deal. The average coupon is 5% for the pool of 795 non-qualified (non-QM) mortgages backing the current offering — dubbed AOMT 2022-6, valued at $389.3 million, according to a bond-presale report by Fitch Ratings

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Appraiserblogs

SEPTEMBER 20, 2022

Why would I bother taking on the added risk of an inconvenient process? Where is my incentive again? As an appraiser, I have to ask (seriously) why should I care if the profession has a shortage of skilled appraisers? Logic dictates that If there is a shortage, then I will remain busy. Even if waivers (another ruse to eliminate appraisal work) increase, I’ll be busier with fewer appraisers.

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Appraisal Buzz

SEPTEMBER 22, 2022

On Monday, the Five Star Conference & Expo kicked off its second day of programming with the annual Legal League 100 Fall Servicer Summit for members, associate members, and mortgage industry professionals which features multiple panels and collaborative discussions regarding regulatory developments, landmark cases, and emerging issues within the housing and mortgage markets.

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Eyes on Housing

SEPTEMBER 22, 2022

As elevated mortgage rates and higher home prices continue to price out homebuyers and reduce affordability, existing home sales declined for seven consecutive months in August, according to the National Association of Realtors (NAR). All four regions saw double-digit declines for sales from a year ago. Additionally, home price appreciation slowed for the second month after reaching a record high.

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Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear.

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Mortgage Loan Officers Inventory Retail 384

Empire Appraisal Group

SEPTEMBER 22, 2022

What’s in a Street Name? A Key to Home Values. By Dan Weil. Homes are more expensive along streets with the words Beverly, Third, Brickell, Bayshore or Island. But Timber or Knoll street homes took longer to sell. JACKSON, Ga. – Some street and neighborhood names are more associated with expensive homes than other names. “What’s in a name?” Shakespeare wrote in “Romeo & Juliet.

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Appraisal Buzz

SEPTEMBER 22, 2022

The Consumer Financial Protection Bureau (CFPB) has released its annual report on residential mortgage lending activity and trends for 2021. The report’s data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act (HMDA). The report shows a significant shift from refinance loans in 2020 to home purchase loans in … The post Asian, Black, and Hispanic-white Borrower’s Purchase Loan Shares Increase appeared first on DSNews.

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Lending Appraisal Mortgage 195

Eyes on Housing

SEPTEMBER 21, 2022

In August, housing starts rebounded but housing permits declined for the second straight month. The August drop in building permits indicates that the housing market is continues to cool as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market. Overall housing starts rose 12.2% to a seasonally adjusted annual rate.

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Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The lender ’s new warehouse financing arm will be led by Donnie Martin, who has more than 25 years of mortgage industry experience. Martin, Firth Third’s group head of mortgage warehouse finance, along with a team of warehouse lending professionals, will be based in Dallas.

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GoForrmz

SEPTEMBER 19, 2022

Discover how digital forms can help your admissions department work more efficiently. While all the pain points and operational inefficiencies are top-of-mind from the current admissions class, the best time to start planning for next year’s admissions is now! College admissions are arguably the most crucial time in a student’s lifetime – patiently waiting to determine where they will take their studies to the next level.

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Appraisal Buzz

SEPTEMBER 22, 2022

For the third time in a row, the Federal Reserve’s Federal Open Market Committee (FOMC) raised the nominal interest rate by 75-basis points at the conclusion of their scheduled two-day meeting to a rate of 3.00-3.25%. This marks the highest interest rate in 14 years. This marks the fifth increase this year and the … The post Federal Reserve Continues Rate Hikes appeared first on DSNews.

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Eyes on Housing

SEPTEMBER 19, 2022

Nonfarm payroll employment increased in 37 states in August compared to the previous month while 13 states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 315,000 in August, following a gain of 526,000 jobs in July. On a month-over-month basis, employment data was strong in Kentucky, which.

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Housing Wire

SEPTEMBER 23, 2022

Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC). Financial terms of the deal were not disclosed. The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably the most challenging mortgage market since the early 1980s. .

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Mortgage Retail Loan Officers Technology 370

The Robert Weiler Company

SEPTEMBER 18, 2022

When there is land for sale – whether raw acreage, commercial property, or residential – a land appraisal is the key component of the process. Any loan for a property is based on the appraisal value. As a land buyer, owner, or seller, understanding the true market value of the real estate in question is important. This will help you make the most of your land buying decision.

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Appraisal Buzz

SEPTEMBER 21, 2022

Today’s Buzzcast interview is with Ken Dicks, Director of Appraiser Compliance for Reggora. We sat down with Ken and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool when it comes to lenders and a lender perspective. What are ways in which appraisers act as the eyes and ears? What can lenders take away from an appraiser’s expertise regarding a property?

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Tools Appraisal 195

Eyes on Housing

SEPTEMBER 22, 2022

While the COVID-19 pandemic has triggered many social and economic disruptions, it has also changed working arrangements and has accelerated the shift to work from home (WFH). During the COVID-19 outbreak in the early of 2020, many businesses across the United States closed and millions of workers experienced the work from home trend out of necessity.

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Housing Wire

SEPTEMBER 21, 2022

Demand for mortgage loans increased for the first time in six weeks, ahead of the Federal Reserve ’s meeting on Wednesday, when observers expect at least another 75 basis points hike to the federal funds rate. According to the Mortgage Bankers Association (MBA), the market composite index , a measure of mortgage loan application volume, increased 3.8% for the week ending Sep. 16, compared to the previous week.

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Mortgage Retail Contracts Housing Market 397

Birmingham Appraisal

SEPTEMBER 21, 2022

A Closer Look At The Final Inspection. You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals. For many types of appraisals, there is only one inspection or observation as we like to call it. Because an appraisal is nothing like a home inspection, that term could be somewhat misleading.

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Appraisal Buzz

SEPTEMBER 20, 2022

According to recent August data in the latest RE/MAX National Housing Report, home sellers, on average, accepted offers below their listing prices last month –a further indication of rebalancing in the housing market. Across the report’s 51 metro areas, the average Close-to-List Price Ratio in August was 99%, meaning that homes sold for 1% less … The post Sales Slip, Prices Soften From July appeared first on DSNews.

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