Housing Wire

JANUARY 29, 2024

After nearly three years of doom and gloom in the mortgage industry, housing experts — including Fannie Mae economists — are expecting interest rates to ease. How much will the inventory shortage contribute to the rise in home prices this year? This interview was condensed and lightly edited for clarity.

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Housing Wire

DECEMBER 29, 2021

A bullish housing market. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. What a year 2021 has been. The excellent.

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Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. So, it’s definitely not like selling a loan to a GSE (government-sponsored enterprise). mortgage insurance market in 2023 to deteriorate.

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Housing Wire

MAY 25, 2023

The housing market looks different than it does during a typical spring, when the market is usually in full gear,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. Not all buying interests are being completed due to limited inventory ,” Lawrence Yun , the chief economist of NAR, said in a statement.

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Housing Wire

SEPTEMBER 28, 2023

Yun also expressed concern about a possible government shutdown, which could worsen the conditions in the housing market. “It It will disrupt some home sales in the short run due to the lack of flood insurance or delays in government-backed mortgage issuance,” he said.

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Housing Wire

FEBRUARY 17, 2024

Weekly housing inventory data The best part of 2024 for me is watching housing inventory grow year-over-year. As we can see below, we are more than double the lows we saw in March of 2022, when I had already deemed the housing market savagely unhealthy.

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Housing Wire

OCTOBER 1, 2021

But for the past 12 months, the metro’s housing market has been in complete chaos. “It The Provo-Orem market is growing at a faster rate per capita than really anywhere else in the state of Utah, including our capital, Salt Lake City.”. I think by the end of next summer, we’re going to know what this market really is.”.

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Housing Wire

FEBRUARY 21, 2024

As interest rates ease and housing inventory stabilizes, mortgage companies are likely to start ramping up their recruiting strategies. This figure was down 15% year over year and 18% below the peak of 420,000 employees in July 2021, when the 30-year fixed mortgage rate averaged less than 3%.

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Housing Wire

NOVEMBER 11, 2022

Yun, who analyzed the current state of the residential market, offered his 2023 market outlook on Friday at the NAR conference in Orlando. For most parts of the country, home prices are holding steady since available inventory is extremely low,” Yun said. In turn, purchase inventory levels have stayed low in most markets.

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Housing Wire

JUNE 23, 2021

With low housing inventory and rapid home-price growth, homeownership can seem less and less attainable for several groups of potential homebuyers. HousingWire sat down with Radian CEO Rick Thornberry to learn more about the state of the housing market and how Radian is helping further homeownership.

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Housing Wire

MARCH 13, 2024

Real estate professionals need no reminder of how catastrophic high rates have been for housing inventory , sales and prices. Rosy economic news is unlikely to nudge the Federal Open Market Committee (FOMC) to start cutting the federal funds rate when they meet next week. Fannie Mae seems to share this sentiment.

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Housing Wire

APRIL 5, 2024

Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. The housing market is eager to see mortgage rates ease as rates have spent nearly a year above 6.5%, and have most recently been hovering above 6.7%,” Realtor.com economic data analyst Hannah Jones said in a statement.

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Housing Wire

SEPTEMBER 30, 2023

Weekly housing inventory data One of the things I got wrong this year is that I believed if mortgage rates stayed higher for longer, active inventory would grow between 11,000 and 17,000 for at least some of the weeks; that hasn’t happened recently with higher rates — close but no cigar. Last year, the seasonal peak was Oct.

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Housing Wire

SEPTEMBER 20, 2021

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022. The reason for the slowdown stems from a problem that continues to persist: a lack of inventory. trillion from the $4.36

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Housing Wire

SEPTEMBER 13, 2023

It allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. Moreover, many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. So why is this program so rare?

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Housing Wire

MARCH 8, 2024

Job gains occurred mainly in health care, government, food services, social assistance, transportation and warehousing. The jobs report contains two conflicting implications for the housing market, according to Sturtevant. Lower rates this spring could give housing market demand a boost.” million the prior year.

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Housing Wire

AUGUST 3, 2023

government credit rating downgrade caused mortgage rates to rise this week,” said Sam Khater, Freddie Mac’s chief economist. Despite higher rates and lower purchase demand, home prices have increased due to very low unsold inventory.” Consequently, it also brings back market competition, especially in more affordable metro areas.

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Housing Wire

APRIL 12, 2021

will have the best housing demographics in history , then it follows that home prices could take off in an unhealthy way. In 2021, we already have the unhealthiest housing market — in terms of low housing market supply and multiple bids for each sale — than we have had in the last 10 years. Already a member?

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Housing Wire

DECEMBER 22, 2023

According to Robert Dietz, chief economist at the National Association of Home Builders (NAHB), new home inventory represented about 30% of the total inventory on the market in 2023, compared to the historical norm of 12%.

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Housing Wire

NOVEMBER 3, 2023

In October, health care, government, and social assistance posted some strong job gains. What to expect in the housing market ? The continuing strength of the construction labor market may be surprising, but it’s reflective of broader housing market dynamics today,” First American Economist Ksenia Potapov said in a statement.

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Housing Wire

JUNE 4, 2023

Last week we saw a noticeable slowdown in housing inventory growth that I hope has more to do with a holiday week than a trend. Here’s a quick rundown of the last week: Active inventory grew 3,180 weekly , and new listing data fell week to week and is still trending at an all-time low in 2023.

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Housing Wire

SEPTEMBER 8, 2022

Since many people think of housing as a wealth creator — and we want more Americans to have more wealth — then the government needs to make sure demand stays high enough for that wealth product to grow. This can lead to home prices getting out of control , especially when total inventory gets to all-time lows.

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Housing Wire

APRIL 8, 2021

Mortgage credit showed signs of loosening up in March, and with it, more availability for lower credit scores and high LTV products to enter the housing market, the Mortgage Bankers Association said in a report on Thursday. The Conventional MCAI that measures loans not backed by the government gained.8%. 4%, the MBA said.

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Housing Wire

JUNE 2, 2023

The lion’s share of the job growth in April came from gains in the professional and business services sector (up 64,000 jobs), the leisure and hospitality sector (up 48,000 jobs), the government sector (up 56,000 jobs), and the health care sector (up 52,000 jobs). year-over-year increase, further complicating things for the Fed. “For

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Housing Wire

MAY 24, 2023

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. “Since rates have been so volatile and for-sale inventory still scarce, we have yet to see sustained growth in purchase applications,” Kan said.

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Housing Wire

APRIL 7, 2023

The government-sponsored enterprise’s Home Purchase Sentiment Index (HPSI), which tracks the housing market and consumer confidence to sell or buy a home, rose 3.3 points to 61.3 in March from February — but remains only slightly above the all-time low set late last year.

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Housing Wire

APRIL 12, 2023

The uptick in mortgage applications was a welcome change for the struggling housing market, which has been plagued by affordability issues that have kept many would-be buyers on the sidelines. Overall, mortgage applications increased last week by 5.3% from 12% the week prior. from 11% week over week. .

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Housing Wire

SEPTEMBER 1, 2021

The seasonally adjusted purchase index dropped 2% compared to the previous week and was 16% lower than it was a year ago, largely due to soaring prices and paltry inventory. Even with a slight increase, purchase activity hit its highest level since early July, as applications for conventional and government loans increased.”

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Housing Wire

FEBRUARY 9, 2021

while the Jumbo MCAI measuring high-balance loans rose 2.2%, and the Conventional MCAI that measures loans not backed by the government rose 4.8%. The Government MCAI that includes mortgages backed by the Federal Housing Administration , the Veterans Administration and the U.S. Department of Agriculture fell by.1%, 1%, MBA said.

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Housing Wire

APRIL 26, 2023

Borrowers’ demand increased for conventional and government loans, up 4.50% and 1.20% from one week earlier, respectively. Both conventional and government home purchase applications increased last week. Experts do see some signs of improvement in housing supply , but it’s still too early to celebrate. for refinancing.

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Housing Wire

MARCH 24, 2021

Refinance activity dropped to its slowest pace since September 2020 – down a full 5% – with declines in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. Inadequate housing inventory continues to put upward pressure on home prices,” Kan said.

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Housing Wire

NOVEMBER 24, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that purchase activity increased for the third straight week, as housing demand remains robust, even as the housing market approaches the typically slower holiday season. The overall market composite index dipped 24.5%

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Housing Wire

APRIL 14, 2023

First-time homebuyers are the driving force of the housing market and typically utilize low down payment mortgages to achieve homeownership. However, buyers are contending with rising interest rates , high home prices and constrained inventory. Last year, the average down payment for first-time buyers was 6%.

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Housing Wire

OCTOBER 16, 2023

At a time when you desperately need stability, your own government is sowing the seeds of profound instability. Mortgage applications are at multi-decade lows, and housing inventory remains highly depressed, helping push home prices up. Honestly, Washington is pushing you and our economy in the wrong direction.

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Housing Wire

JUNE 9, 2022

Credit tightening was most notable in the government and jumbo segments, Kan added. Both the Conventional MCAI, which does not include loans backed by the government, decreased 0.4% and the Government MCAI, which examines FHA, VA, and USDA loan programs, dropped 1.3%. and the Conforming MCAI rose by 1%. .

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Quicken Loans

DECEMBER 16, 2021

Anyone keeping an eye on the real estate market watched for predictions in 2021. Along with the pandemic, 2020 brought a chaotic whirlwind for the housing market. In combination with low housing inventory and labor shortages, that drove up selling prices. real estate market is hot. Buyer demand continued.

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Housing Wire

SEPTEMBER 10, 2020

For refinances, Fannie Mae’s survey revealed the net share of lenders who expect demand growth reached a survey high for government loans and the second highest reading since 2014 for GSE-eligible and non-GSE-eligible loans.

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