Housing Wire

OCTOBER 8, 2021

home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. Despite average 30-year mortgage rates that have remained below 3% for most of 2021, the rapid home price increases are eroding affordability for average wage earners. Among 75 U.S.

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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. above their 2006 housing boom peak. year over year.

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Housing Wire

MAY 6, 2021

For the third consecutive week, mortgage rates managed to remain under 3%, dropping three basis points last week to an average of 2.96%, according to Freddie Mac ‘s PMMS. The post Mortgage rates remain under 3% for third week in a row appeared first on HousingWire.

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Eyes on Housing

JANUARY 20, 2022

Fueled by low mortgage interest rates and strong demand, annual existing home sales reached 15-year high in 2021, according to the National Association of Realtors (NAR).

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Housing Wire

JULY 6, 2022

But housing is the least affordable it has been since the mid-1980s as mortgage rates rise and home values soar, driven by low housing inventory, a new Black Knight report suggests. in April marking the largest single-month deceleration since 2006. The annual home price growth index, measured by Black Knight, grew 19.3%

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Housing Wire

APRIL 3, 2023

Declining mortgage rates could have improved affordability for buyers in the housing market in February, but instead spurred a demand that, combined with a persistent lack of inventory across the U.S., “In many areas of the country, that dynamic – low inventory and a modest rise in demand – led to an uptick in home prices.”

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Housing Wire

SEPTEMBER 26, 2023

. “This is about the same rate of price growth that occurred during the 2002 through 2006 period when subprime lending drove exuberant housing demand. “But that is where the similarities end. Mortgage holders are well-qualified and subprime loans are rare. ”

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Housing Wire

APRIL 8, 2022

Home prices are skyrocketing, housing inventory is at all-time lows and homebuyers have to contend with multiple bids. One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy.

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Housing Wire

DECEMBER 7, 2020

The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. For now, though, the low inventory means housing starts have legs to move higher. Existing home inventory is also at all-time lows. Unsold inventory sits at an all-time-low 2.5-month New Home Supply.

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Housing Wire

OCTOBER 11, 2022

Inventory, which has been falling for years, broke to all-time lows in 2020. We didn’t have a seasonal push in inventory in 2020, and things worsened in 2021. To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. to over 7% in a very short period of time.

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Housing Wire

NOVEMBER 19, 2020

Existing home sales came in at a whopping 6,850,000 , beating estimates with the highest print since 2006. Second, if the next existing home sales report misses expectations, you may be told that this is due to a lack of inventory. Unsold inventory sits at an all-time low 2.5-month Unsold inventory sits at an all-time low 2.5-month

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Housing Wire

APRIL 23, 2021

A National Association of Realtors’ report from 2020’s end found the highest volume of home sales since 2006. But the NAR reported this week that home sales in March fell for the second month in a row as inventory plunged and home prices climbed to record levels.

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Housing Wire

OCTOBER 27, 2022

Does this mean the Federal Reserve needs to hike rates even more to get the recession they’re looking for, or is there a case for mortgage rates to go below 6% over the next six months? Traditionally, when economic data gets better, the 10-year yield sells off and yields go up with mortgage rates. was in a recession.

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Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times. Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like?

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Housing Wire

JANUARY 31, 2024

RealTrends has been tracking housing market data since 1979, including households, home sales, average mortgage rates , etc. Even during the downturn of 2006-2010, this factor only hit a low of 3.84% (2010). Mortgage rates are not likely to return to the 3.0% Chances are, we won’t have to anytime in the next few years.

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Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Plus, available housing inventory remains near historic lows.”

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Appraisal Buzz

APRIL 23, 2024

Mortgage delinquencies were at a rate of 3.2% compared with March 2023, according to ICE Mortgage Technology’s First Look report. It was the lowest number of serious delinquencies since June 2006, ICE says. The foreclosure pre-sale inventory rate was 0.28%, down 3.15% compared with February and down about 15.8%

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Housing Wire

OCTOBER 12, 2020

Added to this, the cash-out boom from 2003-2006 meant that many households had little to no nested equity when the crisis hit. Mortgage demand, too, is at an 11-year high. Monthly supply data started to get bigger in 2006 two years before the recession hit in America. And third — mortgage rates are very low.

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Housing Wire

SEPTEMBER 29, 2021

Increased inventory of homes for sale, near historic low mortgage rates and favorable demographics means more housing demand, ” Odeta Kushi, the First American deputy chief economist said in a statement. This is a strong purchase market and the uptick in inventory is bringing back some buyers who pulled back during peak frenzy.”.

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Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Mortgage rates. Home price s.

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Housing Market Marketing Inventory New Listings 539

Housing Wire

NOVEMBER 30, 2020

According to Joel Kan, the Mortgage Bankers Associations assistant vice president of economic and industry forecasting, that robust year-over-year improvement in activity is a sign the market will continue to see sustained demand for housing through the end of 2020. Presented by: Fannie Mae.

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Housing Wire

AUGUST 1, 2022

June saw both record-low home price appreciation and the largest single-month increase of for-sale inventory in 12 years, resulting in a cool down in the housing market. And the housing market would likely slow further in the coming months if mortgage rates remain persistently high.

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Housing Wire

DECEMBER 7, 2021

trillion is up an astonishing 32% from the same time last year and nearly 90% higher than the pre-Great Recession peak in 2006,” said Ben Graboske, data and analytics president at Black Knight. Overall, mortgage holders withdrew more than $70 billion in equity in the third quarter, equivalent to just 0.8% “The aggregate total of $9.4

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Housing Wire

MAY 19, 2022

However, this year has seen one big game-changer: the 10-year yield finally cracked over 1.94%, which drove mortgage rates over 4%. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. Inventory is always seasonal. million and 1.93

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Housing Wire

DECEMBER 30, 2020

“The latest monthly decline is largely due to the shortage of inventory and fast-rising home prices,” said Lawrence Yun, NAR’s chief economist. from its former high in July 2006, and was up 8.4% Streamlining the refinance process in this low mortgage rate environment. The National Index is now up 24.5%

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Contracts Inventory Realtors Government 535

Housing Wire

OCTOBER 12, 2022

The latest forecast also projects total mortgage origination activity at $1.6 The mortgage market is projected to slip further to $1.3 The slowing effect on the housing market of the higher mortgage rate environment has been largely predictable, and home prices appear to have already begun trending downward.”. million in 2023.

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Housing Wire

MAY 21, 2021

Steep competition stirred in part by low mortgage rates, demographic factors and an improving economy is pushing home prices up at the strongest pace in decades, with sales happening at lightning speed and often for well above list price, noted Zillow Economist Matthew Speakman. . NAR also noted the role of inventory in existing home sales.

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Inventory Buyers New Listings Marketing 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 Wire

JUNE 15, 2022

Mohtashami focused on the latest inventory and the Federal Reserve’s rate hike announcement. How will the announcement impact mortgage rates? If they hint that this is on their minds, bond yields can retrace and head lower giving better pricing for mortgage rates. What do you expect to hear? What’s priced in?

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Inventory Investors Retail Housing Market 353

Housing Wire

SEPTEMBER 28, 2020

The recent new home sales data is at levels last seen in 2006, with monthly supply data back down to the low levels when new home sales data was really good. Compare today’s housing market with that in 2018, when mortgage rates were heading toward 5% and monthly supply went above 6.5 We haven’t started a year yet at 1.5

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Inventory Buyers Housing Market Mortgage 519

Housing Wire

DECEMBER 29, 2020

from its former high in July 2006. Home prices have continued to increase this year as a result of low inventory and high demand for homes. How the mortgage industry is working together to make housing more affordable. The S&P CoreLogic Case-Shiller index covering home prices of all nine U.S. census divisions, reported an 8.4%

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Buyers Construction Realtors Inventory 543

Housing Wire

MARCH 23, 2022

Inventory is at a record low and homes are selling within a week of being listed – more than two weeks faster than they did in February 2020.”. As mortgage rates rise, all else held equal, house-buying power falls,” First American deputy chief economist Odeta Kushi said in a statement. after a 10.4% drop in January.

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Supply Chain Housing Market Buyers Construction 384

Housing Wire

APRIL 27, 2021

The 12% home price gain is the highest recorded increase since February of 2006. Mortgage rates dropped below 3% last week for the first time in two months — down seven basis points to 2.97%, according to Freddie Mac’s Primary Mortgage Market Survey. in January. It’s the ninth straight month of increasing prices.

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Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. In addition, more for-sale inventory will likely be available on the market.

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Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Housing inventory issue with no booming demand. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5

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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. All my six recession red flags were raised toward the end of 2006, and the recession didn’t start until later in 2008.

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Housing Wire

JULY 25, 2022

Housing demand weakened noticeably as growing concerns about affordability contributed to non-seasonal declines in sales, resulting in a slight increase in inventory and more moderate price appreciation,” states the Federal Reserve’s most recently released Beige Book report — based on data and reports current as of mid-July.

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