Housing Wire

NOVEMBER 2, 2024

Home prices have remained firm over the last two months, even with higher mortgage rates and inventory data. I want to show you how the data changed with mortgage rates heading toward 6% so the next time this happens, we have a better idea of what to expect in the housing market. I have long believed that it’s rare in the U.S.

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Inventory New Listings Mortgage Contracts 516

Housing Wire

SEPTEMBER 27, 2023

In the week following the Federal Open Market Committee ‘s meeting, mortgage applications sunk. 22, mortgage applications fell 1.3% from the prior week , according to data from the Mortgage Bankers Association. It is still facing limited for-sale inventory and struggling with affordability issues.

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Mortgage Contracts Inventory Marketing 468

Housing Wire

AUGUST 30, 2023

Mortgage applications for home purchases and refinances increased for the first time in five weeks but remain at low levels. 25, mortgage applications picked up 2.3% percent – the highest since December 2000. “ Mortgage rates were mostly unchanged last week, with the 30-year fixed rate remaining at 7.31

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Mortgage Contracts Government Inventory 418

Housing Wire

JUNE 6, 2024

Mortgage lending in the U.S. million mortgages secured by residential property, the 11th drop recorded in the past 12 quarters and the lowest level since the year 2000, according to the newest U.S. Residential Property Mortgage Origination Report compiled by data provider Attom. dropped by 6.7% households.

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Lending Mortgage Government Inventory 493

Appraisal Buzz

JULY 29, 2024

National trends: a mixed bag Nationally, housing affordability saw a modest improvement in June, driven by slightly lower mortgage rates and positive income growth. point increase in the 30-year fixed mortgage rate. The distribution of this inventory growth is uneven. since January 2000. This decline is attributed to a 5.6%

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Marketing Inventory Housing Market Mortgage 418

Housing Wire

DECEMBER 7, 2022

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? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

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Housing Market Mortgage Marketing Inventory 544

Housing Wire

FEBRUARY 24, 2023

Mortgage delinquencies were down across the board in January, with the overall national delinquency rate declining to 3.38%, a drop of 10 basis points from December, according to Black Knight ’s month-end mortgage performance statistics. Inventories that were 90-plus days late on mortgage payments increased largely in Florida.

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Mortgage Inventory Lending Marketing 418

Housing Wire

MARCH 12, 2023

Mortgage rates fell even though the jobs report was stronger than anticipated. They reversed their bearish take on bonds, and people started to buy the 10-year yield, causing mortgage rates to fall. As a result, mortgage rates, which climbed as high as 7.05% last week, fell to a low of 6.76% on Friday.

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Housing Market Mortgage Marketing Inventory 370

Appraisal Buzz

APRIL 2, 2024

With mortgage rates now well above 6.5% and home prices rising to all-time highs due to lack of inventory, first-time homebuyers are getting discouraged by declining affordability. This underscores how higher mortgage rates and rising home prices have negatively impacted affordability for millions of would-be home buyers.

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Housing Market Marketing Inventory Mortgage 393

Housing Wire

SEPTEMBER 21, 2023

The other difference in this housing cycle is that credit is very normal, meaning everyone has to qualify for a home loan these days, so sales have real potential to get hard with rising mortgage rates. Inventory still negative year over year From NAR: Total housing inventory registered at the end of August was 1.1

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Inventory Housing Market Mortgage Marketing 523

Housing Wire

AUGUST 23, 2023

Bad news for mortgage professionals: not only are mortgage rates at their highest level in over two decades, they might not drop anytime soon. On Wednesday morning, the 30-year fixed mortgage rate was 7.29% at HousingWire’s Mortgage Rates Center and 7.49% on Mortgage News Daily. But it would require the U.S.

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Mortgage Loan Officers Inventory Housing Market 370

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000.

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Mortgage Loan Officers Lending Retail 370

Housing Wire

APRIL 18, 2023

What is the best news for mortgage rates long-term? Without rents taking off, the CPI data would look much more tame, like what we saw from the years 2000-2019. More supply of apartments coming on line will be good news for mortgage rates going forward. This is key for mortgage rates looking out for years to come.

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Mortgage Construction Supply Chain Housing Market 521

Housing Wire

NOVEMBER 2, 2020

The data, from Black Knight’s “Mortgage Monitor” report , shows that rate lock activity in the first half of October was up 4% from September, with purchase locks up 6% and refinance locks up 3%. million home owners still meet broad-based underwriting criteria to shave about 75 bps off their mortgage through a refinancing.

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Mortgage Lending Inventory Marketing 497

Housing Wire

APRIL 25, 2023

Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said. However, despite the recent uptick, the continued low inventory conditions are expected to keep home prices elevated nationally. yearly increase, down from 2.5%

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Inventory Contracts Buyers Sellers 418

Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. In 2000, we saw a lot of credit stress in the system. Total inventory in America grew from 2000 to 2005 while demand grew.

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Law Inventory Lending Mortgage 523

Housing Wire

FEBRUARY 24, 2023

9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. To combat higher mortgage rates, builders have been cutting prices and buying down rates to move product. As we can see in the chart below, we are still below the recession levels of 2000 and really trending at 1996 levels.

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Inventory Construction Housing Market Mortgage 501

Housing Wire

NOVEMBER 21, 2022

The latest forecast also projects that total mortgage origination activity is slightly increased at $2.34 The mortgage market is projected to slip further, however, to $1.74 In addition, the unsold existing homes inventory has slipped for three consecutive months, ending October at 1.22 million in 2022 before dropping to 4.42

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Contracts Government Mortgage Buyers 397

Appraisal Buzz

JUNE 14, 2024

In today’s low-volume market cycle, mortgage originators can build business by focusing on purpose-built loan products designed to overcome the specific challenges homebuyers face in the current market. That is a significant increase from the 13% average between 2000-2019 in new construction.

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Marketing Renovations Construction Finance 396

Housing Wire

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% homeownership rate was close to a record high in census data going back to 2000. Latinos have historically relied on low down payment mortgage options for home purchases. In total, more than 9.5 of overall U.S. And the 49.5%

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Real Estate Agent Real Estate Buyers Realty 482

Appraisal Buzz

JUNE 25, 2024

Originally benchmarked to a level of 100 January 2000, the S&P CoreLogic Case-Shiller Index has reached an all-time high of 320.42 In 2024, an inflation-driven surge in mortgage rates from 6.6% growth in active inventory in the housing market in this period. Put another way, the U.S. from a year ago.

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Inventory Housing Market Marketing Sellers 356

Housing Wire

NOVEMBER 29, 2023

Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The index, which pegs January 2000 at 100, reached a seasonally adjusted all-time high of 311.175 in September as tight inventory continues to keep prices elevated.

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Construction Finance Inventory Development 448

Housing Wire

DECEMBER 29, 2022

The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Housing inventory.

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Housing Market Marketing Inventory Sellers 546

Housing Wire

MAY 2, 2023

From the year 2000 until the start of the pandemic in 2020, existing-home inventory made up nearly 90% of total home inventory. And, unfortunately, sellers are not selling in today’s higher mortgage rate environment. The primary factor holding back today’s housing market is not lack of demand, but a dearth of supply.

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Housing Market Marketing Sellers Inventory 418

Housing Wire

OCTOBER 26, 2022

New home sales are now below the recession levels of 2000 and have fallen all the way to 1996 levels, when interest rates were near 8%. This doesn’t mean sales can’t fall further from here, especially with rising mortgage rates. We saw some stabilization in the data when mortgage rates fell from 6.25% to 5%. When supply is 4.4

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Construction Inventory Contracts Buyers 488

Housing Wire

JUNE 24, 2022

As you can see below, new home sales are still below the 2000 recession level, and we just had a significant spike in mortgage rates too. These monthly reports can be very wild, and I anticipate big swings in the reports until things calm down with mortgage rates. Census: For Sale Inventory and Months’ Supply The seasonally?adjusted

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Inventory Construction Marketing Mortgage 488

Housing Wire

MAY 16, 2023

New home construction is taking on an increased role in the marketplace because many home owners with loans well below current mortgage rates are electing to stay put, and this is keeping the supply of existing homes at a very low level ,” Alicia Huey, the NAHB chair, said in a statement. That share from 2000-2019 was a 12.7%

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Construction Inventory Buyers Housing Market 459

Housing Wire

JULY 26, 2022

Builders learned their lesson in the mid-2000s and understand that it is not in their best interst to create more residential real estate beyond the standard demand curve. They also learned their lesson quickly in 2018 as mortgage rates at 5% were too high for construction growth.” Today, rates are even higher.

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Construction Housing Market Inventory Marketing 514

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory.

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Tools Inventory Sellers Buyers 448

Housing Wire

APRIL 23, 2021

While 2021 likely won’t approach the record breaking tizzy of 2020, the housing market will continue to flourish on the strength of the purchase market, according to economists at the Mortgage Bankers Association. trillion in mortgage originations, the MBA forecasts volume to fall 14% this year to $3.28

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Marketing Housing Market Inventory Mortgage 488

Housing Wire

JANUARY 6, 2022

In November 2021, the supply of homes for sale nationwide as a percentage of occupied residential inventory remained near historic lows at 1.19% — meaning only 119 in every 10,000 homes were for sale — much lower than the historical average of 2.5%.

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Supply Chain Housing Market Construction Inventory 511

Housing Wire

NOVEMBER 23, 2022

We are well below the 2000 recession level and back to 1996 levels. When you account for a population of over 330 million people, that sales number looks a lot lower than in 2000 and 1996 so be mindful that we are trending at low levels today. We will continue to keep an eye on this, especially if mortgage rates head lower.

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Construction Marketing Housing Market Mortgage 488

Housing Wire

APRIL 15, 2022

This week’s HW+ member spotlight features Nicollette Chapman, who serves as vice president of the mortgage division at Zonda. Nicollette Chapman: “ Some lenders won’t survive the purchase mortgage market of 2022 ” by Flavia Furlan Nunez.

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Real Estate Real Estate Agent Business Housing Market 370

Housing Wire

SEPTEMBER 28, 2022

We had a period this summer when mortgage rates moved from 6.25% back down to 5% and some of the new home sales activity picked up. In fact, new home sales are below the recession level of 2000 and back to 1996 levels already. Of course, mortgage rates are much higher right now. million level we saw in 2005.

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Construction Sellers Inventory Housing Market 505

Housing Wire

JUNE 1, 2023

The private-label and agency mortgage-backed securities (MBS) markets , the primary sources of liquidity for many mortgage lenders, are taking a beating so far this year. That dour performance mirrors what’s happening in the primary mortgage market — where origination volume is down drastically year to date in 2023.

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Real Estate Mortgage Marketing Inventory 397

Cleveland Appraisal Blog

OCTOBER 14, 2021

At that time, the handful of bad appraisers doing this kind of thing were also getting a lot of business from lenders and mortgage companies, because they were hitting the numbers, while honest appraisers were beginning to lose business. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008.

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Inventory Market Value Appraisal Contracts 243

Housing Wire

AUGUST 23, 2022

Tuesday’s new home sales report missed expectations and had negative revisions, which isn’t surprising given this sector of our economy simply can’t handle higher mortgage rates. This is below the recession levels of 2000 and back to 1996 levels. After all, sales levels are already low historically for new homes.

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Construction Housing Market Sellers Real Estate 370