2002 Contracts Lending 
Housing Wire
DECEMBER 5, 2022
It created a massive demand for home purchases as consumers competed to win a sales contract and get a home with a low single digit interest rate. It means a massive contraction in demand for mortgages, tighter margins, corporate layoffs and “right-sizing,” and concerns about what the future may hold.
Housing Wire
JANUARY 20, 2023
This means we don’t have enough housing inventory available because with lending standards back to normal we can’t replicate the credit demand we saw in housing from 2002-2005. The Federal Reserve did not like the homebuying atmosphere during COVID-9, especially the non-contingent buying contracts.
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Appraisal Buzz
MAY 17, 2021
Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Almost daily, there is some story on social media about being “turned in” to the state by a disgruntled agent, buyer, or seller for appraising a property below the contract price. Appraisers’ jobs are not to facilitate mortgage lending.
Appraisal Today
MAY 12, 2023
In 2000 and 2002, Architectural Digest named him one of the top 100 architects in the United States. Mortgage lending is very, very cyclical. I agree that I would be world-famous and rich if I could predict mortgage lending cycles! This is to follow up on a meeting Appraisal Institute representatives held in Washington, D.C.
Appraisal Today
SEPTEMBER 29, 2023
Some appraisers, a true minority, have been able to transition to private, non-mortgage-lending appraisal work, but that’s not as easy as some advocate. And many appraisers who only know how to do mortgage lending assignments are reluctant to market themselves outside that confined space. The GSEs started keeping track in 71.
Appraisal Today
NOVEMBER 4, 2022
Mortgage Lending You decide. Excerpts: Accurate appraisals are essential to the integrity of mortgage lending. percent, but remained close to its highest since 2002,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.37
Appraisal Today
DECEMBER 9, 2022
This strategy often backfires because parties involved in the lending process cannot find the specific information they are looking for in the report. I’m reading lots of predictions from people in high places in the real estate and lending worlds saying that the correction is underway, and it’s all about affordability. percent from 6.49
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