Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. According to the brokerage, 6.5%

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Housing Wire

JANUARY 10, 2023

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. When the 30-year mortgage rate was around 3%, there was a higher demand for homes and such deals were not as popular.

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Sellers Real Estate Agent Buyers Mortgage 482

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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Sellers Buyers Real Estate Inventory 426

Housing Wire

APRIL 1, 2024

The recent settlement involving the National Association of Realtors and major real estate firms revolves around the practice of “broker cooperation,” where agents representing sellers share commissions with agents representing buyers. Last year, mortgage rates increased from 3% to 8% and home prices still increased in most markets.

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Housing Wire

FEBRUARY 12, 2024

There are still notably not a lot of sellers. But home sellers are gradually easing back into this housing market. Sellers are coming back to this housing market. In 2021 there were actually more total sellers, but at the peak of the frenzy, so many of those were immediate sales that they never get counted as active inventory.

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Sellers Housing Market Buyers New Listings 406

Housing Wire

JANUARY 30, 2024

Government-sponsored enterprise (GSE) Freddie Mac this week released an industry letter encouraging seller/servicers to take the accelerating pace of cybersecurity threats seriously, and to ensure that processes and tools are maintained to limit exposure to potential security risks. “A These included incidents of social engineering (e.g.,

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Sellers Tools Government Business 423

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. And we aren’t talking about your grandfather’s mortgage rates rising; we went from 2.5% Image by Brandon Johnson/HW Media.).

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Sellers Inventory Housing Market New Listings 514

Appraisal Buzz

MAY 9, 2024

The average rate for a 30-year fixed-rate mortgage fell to 7.09% this week, down from 7.22% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. It was the first time in five weeks that mortgage rates decreased.

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Mortgage Sellers Buyers Appraisal 365

Housing Wire

JULY 17, 2023

In such an environment, buyers may feel pressure to bypass steps in the transaction to make their bid more attractive to the seller, but they should be wary that taking shortcuts can expose them to fraud. Secret Service reported a steep rise in seller impersonation in an advisory it issued this year.

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Sellers Real Estate Agent Real Estate Insurance 369

Housing Wire

APRIL 7, 2021

Home sellers are chomping at the bit. As the economy reopens, vaccinations continue to roll out and stimulus checks reach bank accounts across America, home sellers are increasingly optimistic. ” Duncan added that home sellers are citing high home prices and tight inventory as primary reasons why it’s a good time to sell.

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Sellers Real Estate Agent Real Estate Loan Officers 518

Appraisal Buzz

JULY 18, 2022

The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. Fast-forward to today, and that same loan translates into a monthly payment of $1,468 – a 46% increase in monthly mortgage expense! Since 1976, mortgage interest rates and home price appreciation have had a positive, but weak relationship.

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Sellers Marketing Market Value Home Value 435

Housing Wire

APRIL 23, 2024

Mortgage rates kept climbing on the back of a string of market-moving news. As a result, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.48% on Tuesday, up from 7.26% one week earlier. For instance, the demand for new homes grew at an annualized sales rate of 8.8%

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Mortgage Inventory Sellers Housing Market 445

Housing Wire

APRIL 30, 2024

Mortgage rates inched higher last week ahead of the Federal Reserve ’s Federal Open Markets Committee on Wednesday and the national jobs report on Friday. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market.

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Mortgage New Listings Inventory Sellers 406

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. Most sellers (74%) received at least one offer on their property that was all cash or did not include a financing contingency.

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Sellers Inspection Buyers Finance 545

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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Mortgage Sellers New Listings Buyers 436

Housing Wire

MAY 17, 2023

Incenter Diligence Solutions , a provider of due diligence and document management services for the mortgage industry, announced on Wednesday that it has expanded offerings for the mortgage servicing rights (MSR) trading market. “Buyers and sellers need a diligence firm that can customize reporting in a timely manner.

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Sellers Buyers Clients Technology 346

Housing Wire

AUGUST 22, 2023

“Home sellers are buyers” — this is a phrase that I have been using in my economic work to explain the reality of the housing market recently. So, when home prices and mortgage rates rise so quickly, some sellers won’t list , which means they’re not buying either. Obviously, people don’t sell a home to be homeless.

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Sellers Marketing Inventory Housing Market 363

Inman

JANUARY 12, 2024

RateReduce Sell allows sellers to pay points to lock in a discounted mortgage rate that their agent can cite in co-branded marketing materials.

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Sellers Mortgage Agents Marketing 170

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

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Housing Wire

JULY 29, 2021

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” In their study, these researchers examined the 2008 financial crisis and its impact on nonbank liquidity.

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Sellers Mortgage Business Lending 448

Housing Wire

FEBRUARY 20, 2024

Mortgage rates are back over 7%. Even as money is more expensive and there are more sellers than a year ago, we can also see slight home sales growth over 2023. The economy has continued to be strong, so mortgage rates have defied expectations and remained very high. And as demand slows, inventory grows.

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Mortgage Inventory Sellers New Listings 507

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

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Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

FEBRUARY 5, 2024

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. Mortgage rates are 40 basis points higher than a month ago, and 100 basis points higher than a year ago. There are more buyers than sellers.

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Mortgage Inventory Sellers New Listings 453

Housing Wire

SEPTEMBER 5, 2023

From fine-tuning the initial listing to completing the mountains of paperwork needed for closing , homebuyers and sellers can find themselves juggling a wide range of issues. Find your audience Not every real estate transaction is the same because not all buyers and sellers are the same. mortgage lenders, home inspectors, etc.)

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Real Estate Sellers Buyers Clients 446

Housing Wire

JULY 7, 2021

Sellers, rejoice. One group that continues to feel the pain of high home prices is first-time homebuyers — even with mortgage rates remaining at historically low levels, said Doug Duncan, Fannie Mae’s senior vice president and chief economist. The share who think mortgage rates will stay the same decreased from 38% to 30%.

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Sellers Inventory Housing Market Design 516

Sacramento Appraisal Blog

AUGUST 2, 2023

Sellers have been sitting, and it’s been a game-changer for the housing market in 2023. UPCOMING (PUBLIC) SPEAKING GIGS: 8/18/23 Details TBD 8/29/23 Elk Grove Regional MLS Meeting 10/23 […] The post Dear sellers, the housing market misses you first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Sellers Housing Market Marketing Valuation 265

Housing Wire

AUGUST 17, 2022

The Federal Housing Finance Agency (FHFA) and Ginnie Mae are walking back some of the more controversial proposed eligibility requirements for sellers, servicers and issuers they oversee. Institutions with less than $1 billion in originations during a 12 month period would be exempt — a new carveout the agencies said is for “small sellers.”.

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Sellers Government Lending Finance 372

Housing Wire

OCTOBER 7, 2020

With the market heading into fall, sellers, on the other hand, proved more resilient as the percentage of respondents who said it was a good time to sell a home gained 8% to 56% in September. The National Association of Mortgage Brokers has been advocating for mortgage brokers for almost 50 years. Presented by: NAMB.

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Sellers Real Estate Agent Buyers Design 538

Housing Wire

OCTOBER 20, 2022

Despite this drop, investment returns for home sellers is still up from 48.8% Metro results for home sellers. The post Where home seller profit margins are shrinking appeared first on HousingWire. This is the first decline in home prices in almost three years, down from 57.6% This is up from 6.7%

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Sellers Investing Housing Market Real Estate 414

Housing Wire

FEBRUARY 6, 2024

The elevated interest rate environment has brought an old product, the assumable mortgage, back into fashion. Assumable mortgages remain a niche market compared to new mortgage issuance. An assumable mortgage enables qualified buyers to take over the seller’s mortgage terms, including the existing balance and interest rate.

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Mortgage Sellers Advertising Buyers 415

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. But after concerns were brought to the attention of policymakers during the proposal’s comment period, the U.S.

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Mortgage Real Estate Agent Sellers Construction 368

Housing Wire

APRIL 17, 2024

Expect 2024 to be mildly better than 2023 with mortgage rates falling in the second half of the year, housing experts opined in their forecasts at the end of the year. The pessimism is visible in mortgage rates. Freddie Mac ‘s weekly Primary Mortgage Market Survey is climbing back towards 7%.

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Mortgage Brokerage Real Estate Tenants 487

Housing Wire

JUNE 21, 2023

Unlike a typical spring homebuying season in which sellers are also looking to buy a home, people trying to relocate into a bigger or smaller home in the Mid-Atlantic region made up a relatively small share of the housing market. of buyers in the region paid above the seller’s original list price. In comparison, 32.4% a month ago.

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Sellers Investing Inventory Buyers 325

Housing Wire

MAY 26, 2023

Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud. “We We started to hear a lot about seller impersonation fraud early on in the year,” Tyler Adams, the CEO of CertifID, said. “We Oftentimes this leads to the discovery of vacant lots. million, according to NAR.

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Sellers Real Estate Realtors Real Estate Agent 386

Housing Wire

FEBRUARY 1, 2024

Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Is the housing market normalizing?

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Mortgage Housing Market Sellers Inventory 458

Housing Wire

JANUARY 11, 2024

Mortgage rates ticked up this week as the 10-year Treasury yield made its way back above 4%. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, a slight increase from last week’s 6.62%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

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Mortgage Sellers Inventory Buyers 427

Housing Wire

MARCH 5, 2024

Ahead of Friday’s national jobs report, mortgage rates have found stability after increasing for multiple weeks. Polly ’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. one week earlier.

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Mortgage Inventory Sellers Investors 469