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New homes account for the highest share of sales since 2005

Housing Wire

High mortgage rates, low inventory and sky-high prices resulted in historically low sales at a time when agents are already wrestling with the changes related to the $418 million antitrust settlement signed by the National Association of Realtors (NAR). This is particularly true for builders with in-house mortgage businesses.

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Cash-out refis reach $1.2T in 2021, highest level since 2005

Housing Wire

trillion in cash-out refis in 2021, up 20% compared to the prior year, the highest volume since 2005. Despite the withdrawal, tappable equity available to homeowners with a mortgage grew by $446 billion in the fourth quarter. in 2021, highest level since 2005 appeared first on HousingWire. The post Cash-out refis reach $1.2T

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Home prices haven’t risen this fast since 2005

Housing Wire

The March gain is also the largest since December 2005 and is one of the largest in the index’s 30-year history, said Craig Lazzara, managing director and global head of index investment strategy at S&P DJI. ” Mortgage rates continue to hover around 3%, keeping prospective homebuyers interested, Speakman said.

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Home Prices Saw Largest Annual Gain Since 2005 as Affordability Concerns Rise

Appraisal Buzz

Lack of inventory coupled with pent-up demand for homes – plus low mortgage rates – has resulted in home price appreciation surging to new historical highs.

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MBA predicts record purchase mortgage volume in 2021

Housing Wire

The Mortgage Bankers Association on Tuesday released revised estimates for the third and fourth quarter of 2020 as well as predicting record purchase volume for 2021. The rebounding economy is also likely to mean higher mortgage rates , with the MBA forecasting 2.9% trillion in 2005 — but sees refinances decreasing to $971 billion.

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Homebuilders are done until mortgage rates fall

Housing Wire

Tuesday’s housing starts report clearly shows that homebuilders are going to be done with single-family construction until mortgage rates fall. Currently, we are in a much different housing recession than what we had from 2005-2011. The credit cycle looks much different now than the build-up from 2002-2005.

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Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.

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