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Lower mortgage rates are stabilizing the housing market

Housing Wire

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? Now, with five weeks of data in front of us, we can say they have stabilized the market. Mortgage rates went from a low of 2.5%

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House passes bill to modernize VA appraisals

Housing Wire

House of Representatives this week passed a bill that streamlines the appraisal process for U.S. Department of Veterans Affairs mortgage loans. Critics have long complained VA appraisals had to be performed in-house, which has resulted in a costly and slow process for veterans and servicemembers. The bill, introduced by Rep.

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In this brutal housing market, you’ll need to make $115K to buy the typical US home

Housing Wire

The last two years of soaring mortgage rates and rising home prices have brought the fastest erosion in housing market affordability in modern history, and it’s hurt first-time homebuyers the most. On Thursday, 30-year fixed-rate mortgage rates crossed the 8% threshold , according to Mortgage News Daily.

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HUD to double servicer fee on assumable mortgages

Housing Wire

“Elevated interest rates have been a challenge across financial markets, and the housing market is no exception.” “Elevated interest rates have been a challenge across financial markets, and the housing market is no exception.”

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The savagely unhealthy housing market is over

Housing Wire

Last June, the Federal Reserve said it wanted a housing reset , which meant it wanted higher mortgage rates to destroy the housing market. This facilitated the biggest decline in existing home sales for a single year that we will ever see in modern-day history due to the high level of sales in January of 2022.

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Housing Market Tracker: Inventory drops by 11,000

Housing Wire

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. Here is a quick rundown of the last week: Purchase application data was down 6% weekly.

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Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal?

Appraiserblogs

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. Despite its roots in a methodology designed to support appraisers, Value.