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.

Mortgage 393

Mortgage Sellers New Listings Buyers 393

Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. 2022: 18.7% 2022: 18.7%

Inventory 475

Inventory New Listings Mortgage Finance 475

Housing Wire

AUGUST 20, 2023

Last week, mortgage rates hit a 21st-century high, the 10-year yield closed slightly higher than my peak forecast for 2023 , and housing inventory growth was still slow. Weekly active listings rose by only 4,401. Mortgage rates went from 7.19%% to 7.37%. Purchase application data didn’t budge much on the week-to-week data.

Inventory 368

Inventory Mortgage New Listings Sellers 368

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.

Inventory 463

Inventory Law New Listings Sellers 463

Housing Wire

NOVEMBER 28, 2023

year over year in Q3, according to the Federal Housing Finance Agency (FHFA) House Price Index. Home-price growth expected to slow in Q4 High mortgage rates combined with a typical seasonal slowdown will limit the number of buyers on the market in Q4, Bright MLS Chief Economist Lisa Sturtevant said in a statement. in September.

Inventory 463

Inventory New Listings Finance Buyers 463

Housing Wire

APRIL 5, 2024

Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement. “Attractive homes are moving fast, so those looking to buy this spring should get their finances in order now, including getting pre-approved for a home loan.

Housing Market 386

Housing Market Marketing Training New Listings 386

Housing Wire

MAY 30, 2023

Low inventory , maintained by an extremely low level of new listings coming onto the market, has fueled demand amongst the few buyers who can afford to stay shopping. The average rate in March on a 30-year-fixed rate mortgage in March was 6.54%, with the rate dropping to 6.34% in April.

Mortgage 391

Mortgage Inventory Construction New Listings 391

Housing Wire

MAY 23, 2024

The pricing surge comes despite a marginal dip in weekly average mortgage rates , which fell from a five-month high of 7.22% to 7.02% at the beginning of May, according to Freddie Mac. New listings have risen approximately 8% compared to last year, yet overall inventory remains below typical spring levels. The median U.S.

Inventory 380

Inventory Sellers New Listings Buyers 380

Housing Wire

APRIL 19, 2024

High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market. A surge in new listings of luxury homes was not enough to curb the price growth associated with rising demand. New listings of luxury homes soared 18.5% During the three months ending Feb.

Luxury Properties 418

Luxury Properties New Listings Buyers Housing Market 418

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. In an interview today with Yahoo Finance , I discussed how home prices are still rising this year. All four U.S.

Inventory 477

Inventory Housing Market New Listings Buyers 477

Housing Wire

JULY 28, 2023

High mortgages and stubbornly elevated home prices are worsening the housing affordability crisis. starter” home, up 13% from a year ago, according to a new report from Redfin. Average mortgage rates hit 6.7% The cost of financing a median-priced U.S. The cost of financing a median-priced U.S. wages have risen 4.4%

Buyers 370

Buyers Housing Market Investors Real Estate 370

Housing Wire

FEBRUARY 23, 2024

Existing home sales showed a jump in sales, which was anticipated by most as we had positive, forward-looking housing data due to mortgage rates falling from 8.03% to 6.63%. This is nothing dramatic, but similar to what we saw in 2023 when mortgage rates rose from 5.99% up to 7.25%. From NAR : Total existing-home elevated 3.1%

Inventory 434

Inventory Mortgage New Listings Marketing 434

Housing Wire

MARCH 15, 2024

Mortgage demand has been on the rise for two weeks in a row. Inventory has been trending upward for the last two years despite persistently high mortgage rates, Mike Simonsen, president and founder of Altos Research , wrote on Monday. New listings rose 20% from January, and each of the 50 largest U.S.

New Listings 445

New Listings Inventory Home Value Contracts 445

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Selma Happ, the chief economist at CoreLogic , said transaction data suggests that existing home sales are leveling off despite the uptick in mortgage rates. Existing-home sales dropped 4.1%

Inventory 386

Inventory Realtors New Listings Contracts 386

Housing Wire

JUNE 5, 2024

Do the builders have special financing? Know mortgages You don’t have to know what your favorite loan originator does, but you do need to know enough to advise your clients about different types of loans and which lenders may be the best match for them. What are builders in your market offering regarding mortgage loans?

Real Estate 325

Real Estate Open Houses Clients Agents 325

Housing Wire

NOVEMBER 28, 2023

In September, existing home sales fell, while pending home sales and new home sales rose compared to the previous month. Mortgage rates climbed over the period, reaching 7.3% Simultaneously, new listing volume is up at the end of November, which might cool home prices down. by the end of September.

New Listings 339

New Listings Contracts Inventory Sellers 339

Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. New data from the U.S. Mortgage rates followed suit, walloping buyers’ purchasing power.

Inventory 394

Inventory Sellers Mortgage Marketing 394

Housing Wire

JUNE 10, 2024

Mortgage rate lock-in happens because even small changes in mortgage rates can make a big difference in costs. in April 2024 — with a 10% down payment, a typical mortgage would be approximately $350,000. For every 50 basis point change in mortgage rates, the monthly payment for this house would change by $112.In

Mortgage 365

Mortgage Inventory New Listings Sellers 365

Housing Wire

AUGUST 18, 2023

Or, are sellers in the subject neighborhood typically settling at about 95% of the list price? If you’re showing your new listing versus its competition, do you look priced right , overpriced or priced so well you’d be dying to write an offer and snap it up? Know what’s going on with the new construction!

Sellers 357

Sellers Construction Real Estate Finance 357

Housing Wire

MAY 22, 2024

So, unless mortgage rates drop fast and demand picks up, inventory should have an average year of growth before the seasonal decline. This growth is a positive housing story in 2024, something I talked about on Yahoo Finance this morning. We have had two times recently when mortgage rates dropped more than 1%.

Inventory 460

Inventory New Listings Housing Market Contracts 460

Housing Wire

APRIL 16, 2024

Mortgage rates posted a big jump last week after Wednesday’s release of a higher-than-expected inflation report. As a result, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.24% on Tuesday, up from 7.16% one week earlier. We saw a bounce in demand early in the year as rates fell.

Mortgage 350

Mortgage New Listings Investors Housing Market 350

Housing Wire

JULY 20, 2023

With record-low inventory nationwide, real estate agents seem to be hearing the same thing day in and day out: “I’d list my home, but where would I move?” For most agents, that’s the end of the conversation, ending the possibility of taking a new listing as well as facilitating the buyer side. Next, the house is new.

Sellers 278

Sellers Clients Inventory Agents 278

Housing Wire

APRIL 13, 2024

Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? 10-year yield and mortgage rates There is nothing good to report on mortgage rates from last week. The week ahead will answer some of those questions early on.

Inventory 435

Inventory Mortgage New Listings Retail 435

Housing Wire

APRIL 9, 2024

Mortgage rates remained unchanged last week despite the release of the stronger-than-expected jobs report. HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.16% on Tuesday, unchanged from one week earlier. At the same time one year ago, the 30-year fixed rate averaged 6.46%.

Mortgage 369

Mortgage New Listings Inventory Contracts 369

Housing Wire

MAY 13, 2024

Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines. All in all, you can see how effectively 7% mortgage rates have slowed the housing market. This forecast will compress a bit if mortgage rates finally decline.

New Listings 414

New Listings Contracts Inventory Sellers 414

Eppraisal

JUNE 20, 2023

Now that you've assessed your financial readiness, obtained a pre-approval for a mortgage, and engaged a real estate agent, it's time to dive into the exciting process of researching and finding your dream home. In the next blog, we'll focus on the intricacies of financing your home purchase and navigating the closing process.

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Real Estate Agent Open Houses Real Estate Inspection 36

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

Inventory 501

Inventory New Listings Sellers Real Estate 501

Housing Wire

NOVEMBER 27, 2023

You also know that new listings are up over last year, too. New listings volume is up, too. There were 58,000 new listings this week, with 10,000 of those homes already under contract as immediate sales. However, if mortgage rates were to jump again, we could see sales slip, so it’s a delicate balance.

New Listings 484

New Listings Contracts Inventory Housing Market 484

Cornerstone

FEBRUARY 15, 2022

When the pandemic first hit in early 2020, mortgage forbearance plans were announced, allowing homeowners in crisis to temporarily stop payments. Most homeowners whose forbearance plans are ending appear to have either paid up on their mortgage or have a plan in place from their lender that has enabled them to begin paying again.

Loan Officers 59

Loan Officers Housing Market Inventory Mortgage 59

Housing Wire

JUNE 6, 2023

All 12 Federal Reserve districts have seen issues with a lack of housing inventory , which is largely due to existing homeowners holding back on listing their homes after previously locking in low mortgage rates. A strong economy and relatively high mortgage rates have pushed some movers to the rental market, boosting demand.

Real Estate 421

Real Estate Inventory Construction New Listings 421

Housing Wire

APRIL 25, 2024

“I called the listing agent and it was listed three hours ago, but it was sold,” the Cincinnati, Ohio -based eXp Realty agent said. “We There is no way you can stay on top of things unless you hire someone to watch new listings pop up every 10 minutes. We couldn’t even see it. It is so hard to compete with that.”

Buyers 386

Buyers Marketing Inventory Investors 386

Housing Wire

DECEMBER 4, 2023

New listings and home sales remain low this week while available inventory of unsold homes is finally falling across the country after rising with mortgage rates late into November. We want new listings volume to show growth. It’s looking like we’ll end 2023 with higher housing inventory than this time last year.

Housing Market 483

Housing Market Marketing Inventory New Listings 483

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. At least, that’s what the data seems to suggest as inventory grows and new listings decline at a less aggressive rate than last year. By next week, we could have more new sellers than this time last year.

New Listings 475

New Listings Inventory Contracts Housing Market 475

D Fritz Appraisals

MAY 21, 2021

The Mortgage Stress Test will be increasing as of June 1, 2021. Under the new requirements set by the Office of the Superintendent of Financial Institutions (OSFI), uninsured mortgages will increase to a qualifying benchmark rate of 5.25%. The Mortgage Stress Test Rollercoaster. Why is the Mortgage Stress Test Increasing?

Mortgage 133

Mortgage Real Estate Insurance Renovations 133

Will Springer Realtor

MAY 9, 2023

Falling new inventory is constraining transaction volumes while also supporting higher home prices. It’s a dynamic not often seen in our area and it – along with stubbornly high mortgage interest rates – has generated a rollercoaster ride of data that would make Six Flags jealous. Where are all the sellers?

New Listings 58

New Listings Inventory Buyers Sellers 58

Housing Wire

NOVEMBER 6, 2023

Consumers care about home prices and mortgage rates; the industry cares about transaction volume. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now. Remember the Altos rule: If mortgage rates go up, inventory will build in 2024. While home prices in the U.S.

Housing Market 484

Housing Market Marketing Inventory Contracts 484

Housing Wire

JANUARY 22, 2024

Holle’s business was down about 10% in 2023 compared to 2022, which she attributes almost exclusively to elevated mortgage rates. For Mike Lyons, realtor and principal of the Lyons Team with Keller Williams , the impact of declining mortgage rates is already being felt. “We

Housing Market 397

Housing Market Marketing Logistics Real Estate 397