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CrossCountry Mortgage unveils cash-offer loan product

Housing Wire

As demand for homes continues to outpace new listings, CrossCountry Mortgage (CCM) is introducing a new cash-offer product, the company announced Thursday. The Cleveland -based retail mortgage lender unveiled CCM CashPlus to help buyers gain an edge in the bidding process by turning preapprovals into cash offers.

Mortgage 326
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Why fewer homes are taking a price cut, even while inventory rises

Housing Wire

While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. For the first time in a while, this was a good week for new listing data. This calls into question a mortgage rate lockdown, as mortgage rates are also higher year over year.

Inventory 498
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Will a wider war in the Middle East push mortgage rates higher or lower?

Housing Wire

I am a big fan of the inventory growing year over year based on new listing data, and this is a big plus for the housing market. Last year, it was savagely unhealthy that new listings data was trending at the lowest recorded levels. The week ahead: War, retail sales and housing data Do mortgage rates move with war news?

Inventory 417
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Mortgage demand ticks up ahead of the spring buying season

Housing Wire

Other sources of housing data are showing increases in new listings, which is a real positive for the spring buying season given the lack of for-sale inventory.” retail residential mortgage applications. Department of Veterans Affairs (VA) share declined to 11.4%, down from 11.7% the week before. And the U.S.

Mortgage 418
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Housing Market Tracker: Mortgage rates drop almost 1%

Housing Wire

Active inventory rose by 823 single-family homes and new listing data is trending at all-time lows. With the CPI inflation data and retail sales this week, we could see another volatile pricing week, depending on the data. New listing data rose last week but is still trending at all-time lows in 2023.

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Number of price cuts drops as housing inventory rises

Housing Wire

New listing data New listings data can grow in 2024, something I talked about on CNBC last year as this data line didn’t trend much lower when mortgage rates were heading toward 8%. We can grow new listings from these depressed levels and get more demand. 2022 21.7%

Inventory 516
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Housing Market Tracker: Inventory falls even lower

Housing Wire

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number.

Inventory 517