Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!)

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Housing Market Marketing Real Estate Agent Real Estate 524

Housing Wire

FEBRUARY 4, 2021

There’s no doubt we’re in a seller’s housing market. With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. Are you hoping to buy a home in 2021’s hot housing market ? How much house can you afford to buy?

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Housing Market Marketing Real Estate Agent Sellers 546

Housing Wire

OCTOBER 5, 2021

home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. Typical sellers received two offers, which is the same as the past three years. This is slightly higher than the number of buyers who reported purchasing a home without a mortgage (68%).

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Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. Zillow posits that this shift is driven by higher mortgage rates in the post-pandemic era.

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Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

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Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The second mortgage requires a monthly payment.

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Mortgage Sellers Finance Housing Market 402

Housing Wire

JULY 16, 2021

Canadian customers can now work directly with the OJO concierge team to connect with local agents and mortgage professionals from Royal Bank of Canada , said Natalka Falcomer, who was named president of OJO Home Canada. This year alone, OJO Labs acquired real estate search site Movoto and personal finance platform Digs.

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Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI).

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Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. It all started when mortgage rates jumped from 5.25% to 6.25% this year and I saw how home sellers reacted to that move.

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Mortgage Inventory New Listings Sellers 518

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

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Housing Wire

MAY 14, 2024

“In April, purchase open orders per day were up 4% over last year, but higher mortgage rates may temper purchase volumes going forward. Looking ahead, while Nolan believes that the housing market will rebound, he noted that the timing is “uncertain and largely dependent on lower mortgage rates.”

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Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

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Mortgage New Listings Loan Officers Inventory 481

Housing Wire

FEBRUARY 3, 2022

Thanks to a boom in the housing market and a historic refinance market, the past two years have been a favorable period for the mortgage market. In the process, a historic $9 trillion of mortgage loans were closed over two years. What are the drivers of housing demand in 2022? 2022 Forecast series.

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Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. “Mortgage rates should be 5.55%, not 6.5%,” he said.

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Mortgage Inventory Housing Market Buyers 383

Housing Wire

MAY 8, 2024

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

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Inventory Law New Listings Sellers 486

Housing Wire

MARCH 28, 2024

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home.

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Housing Wire

SEPTEMBER 13, 2023

New York-based mortgage platform Roam has secured a $1.25 Roam focuses on a distinctive niche within the mortgage industry: assumable mortgages. Assumable mortgages, the company’s primary bet, were relatively commonplace a few decades ago. The platform advertises sellers listing to qualified buyers.

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Mortgage Government Advertising Buyers 426

Housing Wire

NOVEMBER 30, 2023

Bright MLS released its National Housing Market Outlook on Wednesday, which shows that affordability will remain the biggest challenge for homebuyers next year. Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. for much of the year before reaching 6.2% by the year’s end.

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Buyers Housing Market Sellers Inventory 468

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% All four U.S.

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Inventory Housing Market New Listings Buyers 487

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% Will Savage, an LO at PMC Mortgage. The median existing house price increased 7.7%

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Mortgage Loan Officers Buyers Inventory 417

Housing Wire

OCTOBER 21, 2022

In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. Lender roadmap: Driving success in a difficult market.

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Mortgage Sellers Finance Technology 370

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

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Mortgage Marketing Loan Officers Real Estate Agent 374

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. “With BUY+, Rocket Mortgage is making this process a lot easier to achieve, lowering a hurdle for those who are ready for a home of their own.”

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Agents Buyers Real Estate Agent Mortgage 395

Housing Wire

SEPTEMBER 28, 2023

Mortgage rates climbed again this week as investors braced themselves for ‘higher-for-longer’ conditions following last week’s Fed meeting. By contrast, the 30-year fixed-rate mortgage was at 6.70% a year ago at this time. These headwinds are causing both buyers and sellers to hold out for better circumstances.” a week prior.

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Mortgage Inventory Sellers Investors 461

Housing Wire

NOVEMBER 13, 2023

Buying a house was obtainable only for the haves in 2023 as home prices and mortgage rates soared. Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. Meanwhile, in September, one-third of U.S.

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Real Estate Agent Real Estate Agents Sellers 403

Housing Wire

DECEMBER 14, 2022

On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . Realtor.com expects mortgage rates to reach 7.1%

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Mortgage Housing Market Buyers Sellers 417

Housing Wire

MAY 14, 2024

“We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. Even after navigating the climate of higher mortgage rates and a dearth of available listings, 82% of recent buyers had regrets about their purchase, Clever reported.

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Real Estate Agent Agents Real Estate Buyers 462

Housing Wire

JANUARY 12, 2024

homeowners with mortgages had an interest rate below 6%. To conduct this study , Redfin analyzed data from the Federal Housing Finance Agency ’s National Mortgage Database as of the third quarter of 2023. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%.

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Real Estate Agent Sellers Inventory Mortgage 469

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. United Wholesale Mortgage (UWM) launched the product in August. A year ago at this time, rates averaged 3.14%. Searching for new options.

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Mortgage Loan Officers Clients Housing Market 382

Housing Wire

DECEMBER 20, 2023

“The latest weakness in existing home sales still reflects the buyer bidding process in most of October when mortgage rates were at a two-decade high before the actual closings in November,” NAR Chief Economist Lawrence Yun said in a statement. “A A marked turn can be expected as mortgage rates have plunged in recent weeks.”

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Inventory Housing Market Realtors Buyers 423

Housing Wire

MAY 11, 2022

In this hot housing market, Michigan-based wholesale lender Homepoint understands the key to originating more home loans is ensuring more sellers accept offers made by its buyers. To do that it relies on the two words sellers increasingly want to hear: “All cash.” Presented by: Finance of America.

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Lending Real Estate Agent Investors Finance 383

Housing Wire

APRIL 14, 2023

This article is part of our 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. Today, the average is 2.7

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Realtors Buyers Inventory Sellers 427

Housing Wire

NOVEMBER 10, 2023

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. High mortgage rates are exacerbating inequality between people who own homes and people who don’t,” Redfin Senior Economist Sheharyar Bokhari said. mortgaged home sales, up from 14% a year earlier but down from 16.3%

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Mortgage Buyers Insurance Government 437

Housing Wire

AUGUST 2, 2023

As a result, the company’s executives told investors and analysts that they were pleased with the firm’s second quarter performance, especially in touring, financing, and renting. I’m pleased with our steady progress on improving and integrating our customer and partner experiences, especially in touring, financing, and renting.

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Agents Finance Sellers Housing Market 370

Housing Wire

DECEMBER 22, 2020

The mortgage application process can be a confusing one — especially if you’ve never gone through it before. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. How much house can you afford to buy?

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Mortgage Property Taxes Loan Officers Sellers 417

Housing Wire

MAY 17, 2023

Incentivized by a 200 basis point decline in mortgage rates, 14 million homeowners in America refinanced their mortgages between the second quarter of 2020 and the fourth quarter of 2021, according to a recent research report by the New York Fed. They don’t want to give up that mortgage rate. So where do housing pros turn?

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Inventory Sellers Modernization Mortgage 370

Housing Wire

MAY 4, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Yet, today’s housing market is nothing like the housing bubble of the mid-2000s. Prior to 2009, housing was overbuilt relative to demand.

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Housing Market Finance Marketing Mortgage 381