Remove spring-branch
article thumbnail

Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 391
article thumbnail

Higher mortgage rates dim hope for a busy spring housing market 

Housing Wire

Mortgage loan originators had hoped for a heated spring housing market, as rates were declining in January, but hopes are dimming. It’s almost like there was a false start,” Dan Monson, branch manager at Sente Mortgage said. Maybe a month ago, somebody turned on the spigot.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Some mortgage companies expanding despite challenges

Housing Wire

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm.

Mortgage 382
article thumbnail

Sluggish Flagstar, NYCB merger deal clears major hurdle

Housing Wire

The company said its secondary marketing performance improved. If approved, the combination of NYCB and Flagstar would create one of the largest regional banks in the country, operating 395 branches across a nine-state territory, including the Northeast and the Midwest with exposure to high-growth markets in the Southeast and West Coast.

Retail 383
article thumbnail

Residential real estate activity picks up despite low inventory

Housing Wire

The Beige Book is a compilation of data and interviews with bank and branch directors, community organizations and economists from on or before May 22. After a slow start to the year, housing markets in upstate New York have also started to pick up, with bidding wars and multiple offers becoming more common.

article thumbnail

How LOs, mortgage execs are preparing for 2024

Housing Wire

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. And I think it’ll pick up once you get past the first quarter spring market and on. I think the first quarter is going to be tough. If people got rates of 7% and 7.5%

Mortgage 441
article thumbnail

Property taxes have been rising. Here’s what it means for housing

Housing Wire

Williamson County homeowners paid an average of nearly $8,000 in property taxes annually in 2022, according to the real estate analytics company ATTOM , which does an annual survey of property taxes in the spring. The market has since cooled off, but taxes are going up. In August, the county raised the tax rate slightly.